Calcium Fluoride Industry- Overview:
The global calcium fluorite market has a chance to surpass the valuation of USD 1.9 billion by 2025 end as per the report of Market Research Future (MRFR). The report predicts a growth of 8%CAGR in the years between 2017 and 2025. This has been marked as the forecast period in the report. Calcium fluoride can be described as an inorganic compound that can be derived from a blending of calcium and fluorine. Calcium fluoride’s formula is CaF2. Calcium fluoride finds uses in industries like glass manufacturing, aluminum metallurgy, optical, production of welding agents, and others. Its features like excellent thermal stability and superior properties make it the choicest one for several players. It also has applications in the production of various personal care products.
The global market report covers several pointers like the growing demand for aluminum products in the automotive and aerospace industry as a thrust provider. This is further getting fostered by the increasing disposable income that has a significant hand in pushing the automotive sector ahead.
Its growth in the glass-manufacturing company can also be taken into consideration to understand how the market is getting formed. Booming construction industry is a major supporter of such a demand. Its demand to melt iron, steel, and their composites, can impact the growth of the market. However, calcium fluoride price could be a major factor but it can inspire better strategic moves from calcium fluoride manufacturers.
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Competitive Landscape:
Several companies are trying to make an impact on the global market for calcium fluoride. This would trigger changes in strategic decisions and ensure high traction for the market. MRFR records details of several companies and makes an assessment of how the market would perform in the coming years. These companies are American Element (US), Solvay SA (Belgium), Mitsui Mining & Smelting Co., Ltd (Japan), Fluorchemie Group (Germany), Aldon Corporation (US), Super Conductor Materials, Inc. (the US), Alufluor AB (Sweden), Corning Incorporated (US), GFS Chemicals, Inc. (the US), KPL International Limited (India), Honeywell International Inc. (US), and Reade International Corp (US).
In November 2019, Taiwan’s the Ministry of Economic Affairs approved the investment bid of eight different companies (small and medium enterprises or SMEs) among which the presence of Lying Environmental Technology Co. is a piece of good news for the market. The company is known for its recycling ability of calcium fluoride waste for the steel industry.
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Calcium Fluoride Market- Segmentation:
The global market for calcium fluoride can be segmented by application and end-use industries. These segments, as discussed in the MRFR report, would divulge several insights and inputs about how the market would grow in the coming years.
By application, the global calcium fluoride market includes hydrogen fluoride, aluminum metallurgy, glass manufacturing, welding agents, optics, and others. The glass manufacturing segment is providing significant traction. Its demand in the optics industry is also quite high.
By end-use industry, the global market report on the calcium fluoride market can be segmented by optical industry, chemical, automotive, iron & steel, construction, and others. The automotive segment has a significant market contribution. Its intake in the construction sector is also quite high.
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Regional Analysis:
The Asia Pacific market has a remarkable chance to grow in the coming years and its market expansion would depend much on the increasing manufacturing, consumption of aluminum products, and construction activities that are taking place in the region. This would further get traction from rapid industrialization and better infrastructure for the automotive segment in countries like India, China, and others. The presence of top-class calcium fluoride manufacturers is also going to inspire better market growth.
The North American calcium fluoride market has a moderate growth opportunity with its inclusion in the manufacturing of glass from the construction industry. Better growth in investment for the end use industries like aluminum metallurgy, iron & steel, automotive, and construction can trigger a hike in the revenue generation of the market. The European market would gain better prospects with its application in welding joints, brake lining, and alumina products. Other regions like Latin America and the Middle East & Africa region may find the growth to be moderate with the rising investment in the automotive and construction industries.