The acidspar segment had accounted for 60% of the total fluorspar demand in 2016 and further expected to remain a highly profitable product segment during the forecast period from 2017 to 2025.
Albany, NY -- (SBWIRE) -- 10/11/2017 -- A comprehensive report based on fluorspar market titled "Fluorspar Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025" is recently added into the database of Market Research Reports Search Engine (MRRSE) that completely focuses on the historical trends, current updates and future prospects of global fluorspar market. According to the report, the demand for fluorspar is expected to be high with 2.7% CAGR during its forecast period from 2017 to 2025. It also estimates an increment in value for nearly US$1,860.8 mn through 2025 which is comparatively high from its value estimated in 2016 i.e. worth US$1,505.3 mn.
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The report discusses drivers, restraints and opportunities available in the market of fluorspar globally. As per the report, the growth in demand for fluorochemical is further increasing the need of steel and aluminum which in turn is growing the construction field. The use of fluorspar is increased in Li-ion batteries thereby the demand in the market of global fluorspar is augmented. The report discusses restraints in the market of fluorspar stating that the market is being affected due to environmental concerns for reducing the use of fluorocarbon chemicals.
The report has segmented the global fluorspar market into various sub-segments and sections such as region wise, product wise and application wise.
According to the report, the acidspar segment had accounted for 60% of the total fluorspar demand in 2016 and further expected to remain a highly profitable product segment during the forecast period from 2017 to 2025. The acidspar product is majorly for the production of hydrofluoric acid which works further for manufacturing of fluorocarbons such as hydrochlorofluorocarbons (HCFC) and hydrofluorocarbons (HFC). Additionally, fluorspar is used for producing cryolite and fluoropolymers. Cryolite is primarily used during smelting of aluminum.
Further, aluminum fluoride which is used in smelting of aluminum is mostly derived from acidspar. It is also used for producing sodium fluoride salts, which are again used in toothpastes. It is employed in regards to volume and value, acidspar was followed by metspar during 2016. Metspar helps in lowering the melting point of the metal thereby saving energy and money. Furthermore, metspar works for metal manufacturing process for removing impurities such as phosphorus and sulfur. As per the report, in Application-wise segment, the hydrofluoric acid had contributed to around 40% of demand in the market of global fluorspar.
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As per report, Asia Pacific region had contributed most to the share of global fluorspar market during 2016 geographically. This region is likely to maintain its performance with an expected CAGR of 2.9% during the forecast period. The market of this region is driven by strong automotive manufacturing industry due to which the demand for steel and aluminum is high. The demand in Europe and North America for fluorspar may witness slow growth due to the sluggish growth of steel and aluminum industry in these regions. The fluorspar market in Middle East Asia region looks positive due to the availability of many mines in Africa such as South Africa, Namibia and Kenya among others.
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