Global Fluorspar Market 2017-2021
Fluorspar or Fluorite is a widely occurring mineral in the earth's crust. It occurs mainly along with metal minerals like galena, quartz, calcite, and sphalerite. Fluorite is also found in the fractures and cavities of limestones and dolomites. It is a very common rock-forming mineral found in many parts of the world. China, Mexico, and South Africa have the largest deposits of fluorspar. Fluorite is known for its hardness and specific gravity. It is the only common mineral that has four directions of perfect cleavage. Fluorspar naturally occurs in purple, green, and yellow translucent color.
Technavio’s analysts forecast the global fluorspar market to grow at a CAGR of 2.06% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global fluorspar market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Fluorspar Market 2017-2021
Technavio recognizes the following companies as the key players in the global fluorspar market: RUSAL, MINERSA GROUP, Mexichem S.A.B. de C.V., China Kings Resources Group, and Seaforth Mineral & Ore.
Other Prominent Vendors in the market are: British Fluorspar, Canada Fluorspar, Centralfluor Industries Group, Groupe Managem, Kenya Fluorspar Company, Masan Group, Mongolrostsvetmet, Steyuan Mineral Resources Group, and YING PENG GROUP.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing use of fluoropolymers in lithium batteries. In Lithium-ion batteries, also known as Li-ion batteries, fluorspar is used. The growing use of lithium-ion batteries in electric vehicles as well as in homes as substitutes to conventional power grids is expected to augment the demand for fluorspar during the forecast period.”
According to the report, one driver in the market is high demand from aluminum and steel industries. There has been an increase in the demand for aluminum in the automotive industry. During the aluminum production process, fluorspar is mixed with bauxite and soda ash which forms cryolite. Cryolite is further processed to form aluminum. The heavy use of aluminum in the automotive industry is projected to remain a key driver for the growth in the global fluorspar market during the forecast period. The growth in the automotive sector can be attributed to the rise in the disposable income and the rise in the GDP worldwide.
Further, the report states that one challenge in the market is stringent government rules and regulations. The manufacturing of fluorspar encompasses adherence to strict regulations. According to the Mining and Environmental Impact Guide released by the Department of Agriculture and Rural Development (GDACE), if wastes during the mining are not properly dumped, chemicals, such as fluorspar, come in contact with the groundwater, which causes water pollution. The governments across the globe are taking strict actions against the improper dumping of waste during the mining process. This can increase the cost of fluorspar mining.
RUSAL, MINERSA GROUP, Mexichem S.A.B. de C.V., China Kings Resources Group, Seaforth Mineral & Ore, British Fluorspar, Canada Fluorspar, Centralfluor Industries Group, Groupe Managem, Kenya Fluorspar Company, Masan Group, Mongolrostsvetmet, Steyuan Mineral Resources Group, and YING PENG GROUP.