Asia Pacific is expected to hold the largest market for fluorite. Countries such as China accounted for the fastest growing market of global fluorite in terms of revenue in 2017 due to the increasing industrialization.
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The global fluorite market is segmented by grade into acid grade fluorite, ceramic grade fluorite and metallurgical grade fluorite, out of which acid grade fluorite is expected to grow with the highest CAGR; by application type into chemical industry, building material industry, metallurgical industry and others.
Fluorite is widely used in the production of enamels and glass. It is also used as a flux for smelting. There are three different grades of fluorite such as acid, ceramic and metallurgical. The acid grade fluorite is used for manufacturing of hydrofluoric acid. Transparent fluorite lenses possess low dispersion; hence lenses that are manufactured by using them have low dispersion due to which they exhibit very small amount of chromatic aberration. Due to this reason fluorite is widely use in telescopes and microscopes.
In terms of regional platform, Asia Pacific is expected to hold the largest market for fluorite. Countries such as China accounted for the fastest growing market of global fluorite in terms of revenue in 2017 due to the increasing industrialization. According to Indian Bureau of Mines, China is the largest producer of fluorite, primarily for the production of hydrofluoric acid and aluminum fluoride. The increased use of fluorite in chemical and fertilizer industry, the fluorite market is expected to show a positive growth over the forecasted period.
Europe is expected to be the fastest growing market of fluorite over the forecasted period. European countries such as Russia and Spain have major fluorite reserves in the world making them significant contributors to the global fluorite market.
Rising demand for acid grade fluorite
Acid grade fluorite is a high grade fluorite which is mainly used for the manufacturing of hydrofluoric acid (HF). It is a highly pure material and is widely used in chemical industry which likely to increase the growth of fluorite market across the globe. Acid grade fluorite contains more than 91% CaF2 and it is widely use in the United States. This factor is expected to augment the growth of fluorite market globally.
Hydrofluoric acid is used to manufacture products such as foam blowing agents, fluorocarbon chemicals, fluoride chemicals and refrigerants, in manufacturing these products acid grade fluorite play a major role. Acid grade fluorite is also used for the production of certain stainless steel electrodes and E7018 type of electrode. This is also expected to contribute in the market of fluorite across the globe.
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Acid grade fluorite is also used for manufacturing of SMAW Fluxes. Developing economies such as China is the largest producer of fluorite and high demand for cement and chemical industry and the wide use of fluorite in these industries, likely to increase the market of fluorite.
Fluorite causes depletion of atmospheric ozone layer which protects the earth from ultraviolet radiation. Olivine act as one of the substitute for fluorite and acts as a major restraint in the growth of fluorite market globally.
The report titled “Fluorite Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global fluorite market in terms of market segmentation by grade type, by application type and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the fluorite market which includes company profiling of Fuda Group Corporation, Mexichem S.A.B. de C.V, Minersa, Zhejiang Sanmei Chemical, Kenya Fluorspar Company, Masan Resources, Steyuan Mineral Resources Group, Solvay, Fluorsid Group, CFIC, Wuyi Shenlong Flotation and Sinochem Lantian. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global fluorite market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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