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Jan 16, 2020 3:07 AM ET

Calcium Fluoride Market is Forecast to Grow at CAGR of 7.5% During 2020-2025


Calcium Fluoride Market is Forecast to Grow at CAGR of 7.5% During 2020-2025

iCrowd Newswire - Jan 16, 2020

Calcium Fluoride Market is forecast to reach $2.1 billion by 2025, after growing at a CAGR of 7.5% during 2020-2025. With rise in the consumption of aluminum products from the end user industry will upsurge the market in the forecast period.Calcium Fluoride is the primary source of fluorine in the production of hydrogen fluoride and calcium sulfate across globe. 
 
Key Takeaways
  • Asia-Pacific dominates the Calcium Fluoride market owing to rapid industrialization and automotive sector. 
  • Another niche but essential application of calcium fluoride is in the glass manufacturing as it exhibits impeccable properties such as shallow refractive index and is transparent in both infrared and ultraviolet wavelengths. 
Type- Segment Analysis
 
≤97% Calcium Fluorideheldthe largest share in the Calcium Fluoride market in 2019. ≤97% calcium fluoride mainly represents metallurgical and ceramic grade fluorspar, consumed in metallurgical industry, glass industry, ceramic industry and others.According to Product Complexity Index, Fluorspar, ≤97% calcium fluoride are the 3479th most traded product and the 3980th most complex product in 2018. Globally major exporters of fluorspar, ≤97% calcium fluoride are Mangolia ($67.1 million) followed by Mexico ($64.6 million), China ($41.9 million), The Netherland ($9 million) and Italy ($5.66 million) according to Observatory of Economic Complexity (OEC) in 2018. Whereas the top importers were Russia ($34.3 million), China ($28.7 million), Japan ($18 million), Turkey ($15.6 million) and the United States ($15.2 million).
 
Application – Segment Analysis
 
Metallurgical Industry has been the primary market for Calcium Fluoride. Calcium fluoride is found in the form of mineral fluorite which is used in applications such as aluminum metallurgy, welding agents, optical and others. The demand for aluminum products from the automotive and aerospace industry will propagate the calcium fluorite market. Due to increase in the global middle class spending and absence of effective alternatives to fossil fuels, the consumption of Calcium Fluoridehas always been considerably high in automotive application in comparison to other applications.
 
China has the largest automotive industry in the world and one of the largest civilian aircraft markets. According to OICA, China held 35 percent share in global passenger cars sales in 2017. India also has excellent potential for automotive industry growth in the future. The country’s automotive industry experienced 8% growth in production in 2018,over the previous year. With more than 11 million vehicles traveling on the U.S. roads, which is 11.5 percent of the total vehicles in the world as reported by the OICA in 2017, there will be tremendous demand for Calcium Fluoride in the automotive application.
 
Geography- Segment Analysis
 
APAC dominated the Calcium Fluoride market with a share of more than 36%, followed by North America and Europe. The calcium fluoride market growth in Asia Pacific is augment to grow owing to increase in automotive production and rapid industrialization in the region. The industrialization was supported by exports, and coordinated economic policies across sectors and over time.Due to increased demand for glass from the construction industry over the forecast period, the North American region is expected to see fair growth. Additionally, substantial growth is also anticipated in the European region as a result of increased demand for the product during the forecast period in welding joints, alumina products and brake lining.
 
Drivers –Calcium Fluoride Market
  • Rise in demand for aluminum products in end use industry
Aluminum has many uses across various end use industries including, Automotive, Aerospace, Marine, Packaging, Construction, Consumer durables, electronics, machinery and others. Aluminum recovery from scrap has become an important component of the aluminum industry. Global energy intensity of overall aluminium production fell by 1.1% in 2017, compared with annual reductions of 1.7% in 2010?16. The global primary aluminum production reached 64.3 million metric tons in 2018. According to the International Aluminum Institute (IAI), China and accounted for over 40 million metric tons of aluminum in 2018.The future of the aerospace industry is bright and will be characterized by strong aircraft demand for the foreseeable future. The number of commercial passenger and cargo aircraft fleet, as well as the annual number of passengers, are forecast to double over the next two decades. The increase in aircraft fleet will propel the consumption of aluminum in the production of fleets. 
 
Challenges – Calcium Fluoride Market
  • Alternatives of calcium fluoride can hamper the market
Fluorosilic acid is used for the production of aluminum fluoride (AlF3), but AlF3 derived from fluorosilic acid is not readily substituted by AlF3 produced from fluorspar due to different physical properties. Fluorosilicic acid has been used to produce hydrogen fluoride, but this practice has not been widely adopted. The preferred product is currently aqueous hydrogen fluoride rather than fluorspar. Aluminum smelting dross, borax, calcium chloride, iron oxides, manganese ore, silica sand, and titanium dioxide have been used as substitutes for fluorspar fluxes. 
 
Market Landscape
 
Technology launches,acquisitions and R&D activities are key strategies adopted by players in the Calcium Fluoride market. In 2019, the market of Calcium Fluoride has been consolidated by the top five players accounting for xx% of the share. Major players in the Calcium Fluoride Market are Solvay SA, American Element, Fluorchemie Group, Super Conductor Materials Inc., and Aldon Corporation,among others. 

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