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Global Fluorspar Market Expected to Reach USD 2,612 Million by 2027


Global Fluorspar Mar

iCrowdNewswire   Jan 12, 2021  2:46 AM ET

25_Fluorspar Market Value

According to a recent market study published by Growth Market Reports (GMR), titled, “Global Fluorspar Market by Product Type, Application and Region: Size, Share, Trends and Opportunity Analysis, 2017-2027”, the market was valued at US$ 2,200.0 Million in 2019 and is expected to grow at a healthy growth rate of 3% by the year 2027. The global fluorspar market is anticipated to grow owing to the increasing use of fluorite in iron & steel, cement, and glass industries, growing construction activities, growth of the automotive industry, and mounting demand for fluorocarbons.

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The global fluorspar market is fragmented based on product type, application and region. In terms of type, the market is segmented into acidspar, metaspar, and ceramic. Based on application, the market is classified as aluminum production, steel production, hydrofluoric acid production, and others (glass, ceramic, etc.) On the basis of region, the global fluorspar market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, and Rest of Asia Pacific. The Europe region is further categorized into Germany, France, Italy, U.K., Spain, Russia, CIS, and Rest of Europe, and the MEA region is further divided into Saudi Arabia, South Africa, UAE, and Rest of MEA.

In the year 2020, the fluorspar market is witnessing a downtrend owing to the negative impact of the COVID 19 pandemic. The COVID-19 pandemic has a rapid and serious impact on the global fluorspar market, which has increased the risk of shortages of goods and labor. Moreover, the pandemic situation has led to the closure of several businesses reducing the demand in the world, which in turn, is impeding the various industry. The decrease in the supply chain of raw materials has impacted the growth of the fluorspar market. The slowdown in the production of parts and its raw materials have given rise to supply chain disruption in the fluorspar market. Many countries have closed their national borders and have enforced lockdowns since January 2020, which in turn, is hindering the market growth. The pandemic has hampered the manufacturing sector and economies globally. There is no clarity on the deeper effects has been assessed to date.

As per GMR industry analyst Akshata, “The global fluorspar market is anticipated to witness significant growth during forecast period 2020-2027 owing to increasing use of fluorspar for manufacturing cement, steel, and glass. It is widely used as a fluxing agent and mineralizing agent for making cement. Demand for acidspar is increasing for manufacturing hydrofluoric acid which is expected to boost the demand for acidspar during the forecast period. The acidspar segment, hydrofluoric acid segments are the most attractive segments in the market and are expected to grow at a significant CAGR during the forecast period.

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Key Takeaways from the Study:

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Report Scope:

Report Metric

Details

Market Value in 2019

US$ 2,200.0 Million

Market Growth Rate (from 2020 to 2027)

3.0 %

Historical Data

2017 & 2018

Base Year

2019

Forecast Period

2020 – 2027

Units Considered

Value (US$ Million) and Volume (Million Tons)

Market Segments

By Product Type, By Application

Regional Scope

North America, Europe, Latin America, Asia Pacific, Middle East & Africa (MEA)

Country Scope

U.S., Canada, Brazil, Mexico, Rest of Latin America, China, Japan, South Korea, India, Australia, Rest of Asia Pacific, Germany, France, Italy, U.K., Spain, Russia, CIS, Rest of Europe, Saudi Arabia, South Africa, UAE, and Rest of MEA.

Key Companies Profiled

Moodie Mineral Company, Seaforth Mineral & Ore Co. Ltd, Mexichem Fluor, Canada Fluorspar, Minersa Minerals, RUSAL, Sallies Limited, and Zhejiang Yingpeng Chemical Ltd.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

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Keywords:    Fluorspar Market, Fluorspar Market analysis, Fluorspar Market forecast, Fluorspar Market players, Fluorspar Market scope, Fluorspar Market share, Fluorspar Market size, Fluorspar Market trends

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