ALBANY, New York, August 30, 2017 /PRNewswire/ --
Transparency Market Research has published a new report titled "Fluorspar Market by Product Segment (Acidspar, Metspar, Ceramic, and Others) and Application (Aluminum Production, Steel Production, Hydrofluoric Acid, and Others): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017-2025." According to the report, the global fluorspar market was valued at US$ 1,505.3 Mn in 2016 and is likely to reach US$ 1,860.8 Mn in 2025, expanding at a CAGR of 2.7 % between 2017 and 2025.
Fluorspar, also known as fluorite, is a commercial term used for calcium fluoride (CaF2). It is an essential industrial mineral, as it is composed of calcium and fluorine. Fluorspar is an aggregate mineral and rock matter with varying proportions of fluoride. It is segregated into four grades based on the content of calcium fluoride into acidspar, metspar, ceramic, and others. Industrially fluorspar has applications as flux for smelting, and in the production of enamels and ceramic glasses. Pure form of fluorspar has applications in microscopes and telescopes as they have low light dispersion and exhibit less chromatic aberrations in comparison to unconventional glasses.
Acidspar accounted for a major share of the global fluorspar market in 2016 and is anticipated to witness strong growth. Acidspar is mainly utilized in the production of hydrofluoric acid and aluminum. Metspar demand is dependent majorly on the demand for steel. Hence, growth in steel production and consumption will propel the growth of metspar. The demand for ceramics and other segment is anticipated to boost during the forecast period.
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Hydrofluoric acid emerged as the major segment for global fluorspar market in 2016. This trend is likely to continue during the forecast period owing to the increasing demand from end user industries. Hydrofluoric acid is utilized in the production of refrigerants hence, growth in demand for cooling equipment will augment the growth of hydrofluoric acid, inadvertently propelling the demand for fluorspar. Demand for fluorspar in aluminum is anticipated to witness strong growth during the forecast period.
Geographically, Asia Pacific held significant share of the global fluorspar market in 2016. Presence of major share of fluorspar mines in the primary growth of this market in Asia Pacific. China held dominant share of the Asia Pacific fluorspar market accounting for more than 70%. In terms of value and volume Asia Pacific was followed by Europe and North America in 2016. These region will offer moderate growth during the forecast period owing to the sluggish growth of steel and aluminum industry.
Companies such as Mexichem S.A.B. de C.V., Centralfluor Industries Group, Inc., and Zhejiang Wuyi Shenlong Floatation Co Ltd held significant share of the global fluorspar market in 2016. Other major companies include China Kings Resources Group Co., Ltd., Masan Group, Mongolrostsvetmet LLC, and MINERSA GROUP.
The report provides in-depth analysis of the fluorspar market in terms of volume (kilo tons) and revenue (US$ Mn). It includes current demand analysis and forecast for each application segment at the global and regional level. Regions analyzed include North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Each region has been further sub-segmented into key countries and sub-regions.
The report segments the global fluorspar market as follows:
Fluorspar Market: Product Segment
- Ceramic grade
- Others (optical and lapidary grade)
Fluorspar Market: Application Segment
- Aluminum production
- Steel production
- Hydrofluoric acid
- Others (concrete additives, lithium-ion battery, etc.)
Fluorspar Market: Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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