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Fluorspar is found naturally at the surface of the earth. Its presence can be detected in areas of recent volcanic eruptions, as well as in hydrothermal fluids. Because it is composed of iron, fluorspar often has pastel colors. Fluorspar can help trace the history of a particular location or geological feature by demonstrating if it was formed during a recent geological event. In addition to its use in geology, fluorspar is also used to make fluoride-containing materials, including the chemical hydrogen fluoride.

Market Statistics:

The global fluorspar market is valued at 7,591 kilotons in 2021 and is expected to reach at 14567 kilotons by 2030. The market is expected to grow at a CAGR of greater than 7.83% during the forecast period 2022-2030.

Asia Pacific held dominant position in the global fluorspar market in 2021, accounting for 74.7% share in terms of volume, followed by Europe and Asia Pacific, respectively.

Figure 1. Global Fluorspar Market Volume Share (%), By Region, 2021

Fluorspar  | Coherent Market Insights

Market Drivers:

Increasing demand for fluorspar from fluorspar extracted chemicals is driving growth of the fluorspar market. For instance, some of the other minor application of fluorspar used in fluorocarbon derived products are in the manufacturing of welding road, aluminium, and steel. Furthermore, in the past the fluorocarbon-based chemicals were used in the production of chlorofluorocarbon (CFC).

Growing demand from oil and gas industry is again expected to drive growth of the market. In the oil and gas industry, HCL is commonly used in the stimulation of oil and gas wells, particularly in carbonate formations. With increasing demand in countries like China and India, oil and gas companies are planning on expanding their manufacturing activities, resulting in the increased consumption of hydrochloric acid, which in turn boosts the consumption of fluorspar.

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Fluorspar Market Report Coverage

Report Coverage Details
Base Year: 2021 Market Size in 2021: 7591 K Tons
Historical Data for: 2017 to 2020 Forecast Period: 2022 to 2030
Forecast Period 2022 to 2030 CAGR: 7.83% 2030 Value Projection: 14567 K Tons
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Grade: Acid Grade, Ceramic Grade, Metallurgical Grade, Optical Grade, Lapidary Grade
  • By Variety: Antozonite, Blue John, Chlorophane, Yttrocerite, Yttrofluorite, Other Varieties
  • By Application: Metallurgical, Ceramics, Chemicals, Other Applications
Companies covered:

Fluorsid (British Fluorspar), Canada Fluorspar, China Kings Resources Group Co. Ltd, Kenya Fluorspar, Koura, Masan Resources, MINCHEM IMPEX India Private Limited, Minersa Group, Mongolrostsvetmet LLC, RUSAL, Sallies Ltd, Steyuan Mineral Resources Group Ltd, and Seaforth Mineral & Ore Co

Growth Drivers:
  • Increasing demand for fluorspar from fluorspar extracted chemicals
  • Growing demand from oil and gas industry
Restraints & Challenges:
  • Strict environmental regulation

Figure 2. Global Fluorspar Market Volume Share (%), By Type, 2021

Fluorspar  | Coherent Market Insights

Market Restraints:

Environmental concern on extraction of chemicals from fluorspar is expected to hinder the market growth. For instance, huge amounts of rock overburden are lifted from the soil, processed, and eventually disposed of in mining. Mining has a substantial local impact on landscapes, particularly when open pit mining is used. Fluorspar mining, like practically any other mining activity, has an impact on the local ecosystem and terrain.

The global mining industry was hit badly by the covid-19 pandemic, with mines, ports, rail,  and other transportation infrastructure shut down, shipments trapped at sea or captured in port, and  uneven restrictions enforced from country to country, thereby impacting the fluorspar mining sector. 

Market Opportunities:

Increasing demand from li-ion battery is expected to provide lucrative growth opportunities. Fluorspar are used to manufacture fluorinated polymers such as PTFE, PVDF, and others. Polyvinylidene fluoride (PVDF) is widely used fluropolymer as a binder resin for electroactive materials in li-ion batteries. It is also used for safety purposes in the form of separator coatings. PVDF’s high electrochemical stability and its capability to be easily solubilize in common solvents and solution cast on industrial production lines are the key reasons for its preference as a binder resin.

Growing adoption of strategic alliance for increasing production of batteries is again expected to offer bright market opportunities. For instance, in September 2021, CATL signed an agreement with the city government of Yichun in the Chinese province of Jiangxi to build a new production facility for lithium-ion battery and a production plant for battery materials such as lithium carbonate. The total investment is expected to be around USD 2 billion.

Market Trends/Key Takeaways:

Increasing number of smartphone users is expected to be a major trend in the market. As of December 2021, the number of smartphone users in the world was 6.64 billion, which translates to 83.96% of the world’s population owning a smartphone. In total, the number of people that own a mobile phone was 7.26 billion, making up 91.69% of the world’s population.

Growing penetration of electric vehicle is also projected to foster market growth. According to International Energy Agency, in 2030, global electric vehicle sales are expected to reach 23 million as per the New Policies Scenario (excluding two-/three-wheelers). In the EV30@30 Scenario, in 2030, around 70% of the vehicle sales in China are likely to be EVs. Also, it is estimated that the global market share of EVs will reach 30% (245 million vehicles) by 2030.

Competitive Landscape:

  1. Fluorsid (British Fluorspar)
  2. Canada Fluorspar
  3. China Kings Resources Group Co. Ltd
  4. Kenya Fluorspar
  5. Koura
  6. Masan Resources
  7. MINCHEM IMPEX India Private Limited
  8. Minersa Group
  9. Mongolrostsvetmet LLC
  10.  RUSAL
  11.  Sallies Ltd
  12.  Steyuan Mineral Resources Group Ltd
  13. Seaforth Mineral & Ore Co.

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:

  • This report provides in-depth analysis of the global fluorocarbon market, and provides market size (US$ Million) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global fluorocarbon market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
  • Key companies covered as a part of this study include Fluorsid (British Fluorspar), Canada Fluorspar, China Kings Resources Group Co. Ltd, Kenya Fluorspar, Koura, Masan Resources, MINCHEM IMPEX India Private Limited, Minersa Group, Mongolrostsvetmet LLC, RUSAL, Sallies Ltd, Steyuan Mineral Resources Group Ltd, and Seaforth Mineral & Ore Co.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global fluorocarbon market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global fluorocarbon market

Detailed Segmentation:

  • Global Fluorspar Market, Grade:
    • Acid Grade
    • Ceramic Grade
    • Metallurgical Grade
    • Optical Grade
    • Lapidary Grade
  • Global Fluorspar Market, Variety (Qualitative Analysis Only):
    • Antozonite
    • Blue John
    • Chlorophane
    • Yttrocerite
    • Yttrofluorite
    • Other Varieties
  • Global Fluorspar Market, Application:
    • Metallurgical
    • Ceramics
    • Chemicals
    • Other Applications
  • Global Fluorspar Market, Geography:
    • Asia-Pacific
    • North America
    • Europe
    • South America
    • Middle East & Africa

Frequently Asked Questions

The global fluorspar market size is estimated to be valued at US$ 7591 Kilo tons in 2021 and is expected to exhibit a CAGR of 7.83% between 2022 and 2030.
Increasing demand for fluorspar from fluorspar extracted chemicals and growing demand from oil and gas industry are fuelling the growth of the market.
The Metallurgical application segment is the leading component segment in the market.
Strict environmental concerns are the major factors restraining growth of the market.
Major players operating in the market Fluorsid (British Fluorspar), Canada Fluorspar, China Kings Resources Group Co. Ltd, Kenya Fluorspar, Koura, Masan Resources, MINCHEM IMPEX India Private Limited, Minersa Group, Mongolrostsvetmet LLC, RUSAL, Sallies Ltd, Steyuan Mineral Resources Group Ltd, and Seaforth Mineral & Ore Co.

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