Global Fluorspar Market Size By Product, By Ingredients, By Geography And Forecast

Report Highlights

Fluorspar Market Size And Forecast

Fluorspar Market was valued at USD 2.6 Billion in 2019 and is projected to reach USD 6.1 Billion by 2027, growing at a CAGR of 4.8% from 2020 to 2027.

Global Fluorspar Market Outlook

Fluorine is the most chemically reactive element and world fluorspar demand is dominated by the chemical industry. The dominance is expected to continue throughout the forecasted period.

All fluorochemicals are derived initially from the manufacture of hydrofluoric acid (HF), itself produced from acid- grade fluorspar. The largest chemical sector application for HF is I the production of fluorocarbons. Growing demand for steel and aluminum from the construction industry is expected to be the key driver in the growth of the global fluorspar market over the forecast period. Growing popularity of lithium-ion batteries over conventional batteries is also expected to drive the fluorspar market over the forecast period majorly. Furthermore, growing optics, ceramics, and personal care industry in emerging economies on account of rising disposable income and changing lifestyle are further augmenting the fluorspar market over the forecast period. Overall production of fluorocarbon is estimated to have consumed approximately 1Mt of HF in 2018, requiring>2Mt of acidspar. Consumption of acidspar, driven mainly by this sector, increased in 2018 and early 2019. Metspar now accounts for just 39% of total world demand for fluorspar.

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