Fluorspar Market
Fluorspar, a naturally occurring mineral that is composed of fluoride, is found in areas of recent volcanic activity or hydrothermal fluids. It often has a pastel color, due to the presence of iron. Although a small amount of fluorspar still makes its way into ornaments, the vast majority serves a different purpose across different end-user industries.
Market Dynamics:
Growing demand for fluorocarbon derived products for production of welding road, steel, and, aluminium is expected to drive growth of the fluorspar market. Also, growing demand from oil and gas industry coupled with the increasing penetration of electric vehicle are again projected to propel market growth. For instance, according to the Coherent Market Insights analysis, in 2020, consumer spending on electric vehicles reached USD 120 billion, registering 50% increase from 2019. Parallelly, governments around the world spent USD 14 billion to promote electric vehicle sales, up by 25% from the previous year, owing primarily to increased incentives in Europe.
On the other hand, strict environmental regulation regarding extraction of fluorocarbon is expected to hinder market growth.
Key features of the study:
Detailed Segmentation:
Table of Contents
* Browse 22 market data tables* and 18 figures* on "Global Fluorspar Market” - Forecast to 2030.
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