Transparency Market Research includes new market research report "Fluorspar Market" to its huge collection of research reports.
Albany, NY -- (SBWIRE) -- 10/16/2014 -- Calcium Fluoride (CaF2) is commercially also known as fluorspar. The commercial fluorspar market caters to a wide range of industrial applications, and is graded according to its uses. The grade of fluorspar is determined on the basis of its attributes and quality. The three key grades of fluorspar are: metallurgical grade, acid grade, and ceramic grade.
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Fluorspar is available in an array of colors, and develops in as well-formed cubic crystals. The grade of fluorspar determines exactly which application it is suited for. However, a large chunk of this mineral finds its way to the hydrofluoric acid (HF) manufacturing market worldwide. HF is extensively required to be used as feedstock for manufacturing compounds such as fluorocarbons and fluoropolymers, which contain fluorine as a founding component. Another widely seen application of fluorspar is in the steel making process, where it is used as flux. The fluorspar market also caters to the aluminum production industry, where it is used in producing enamels and glasses.
China leads the global fluorspar market
China ranks as the leading producer of fluorspar in the world. While the country does export considerable volumes of the mineral, the country’s domestic demand continues to increase year on year. This factor also makes China the largest consumer of fluorspar globally. Much of the fluorspar produced by China is used in the production of fluorocarbons and hydrofluoric acid. These are also incorporated in downstream activities. According to the latest estimates, China contributes about 53% to the total amount of fluorspar produced globally.
However, as China continues to exhaust its fluorspar reserves, as well as reserve base, production could shift from China to other developing countries.
In the recent past, BRIC countries have reported rapid urbanization. This has, in turn, led to a spike in the consumption of fluorspar in these nations. Globally, the largest reserves of fluorspar lie in South Africa. Other countries that boast high reserves of the mineral are: Spain, China, Mongolia, and Mexico.
A look at the future
The production and supply of fluorspar doesn’t seem likely to be hampered by any foreseeable market forces. However, there is a likelihood of temporary events such as political upheaval becoming an impediment to the growth of this market. Technological innovations remain critical to growth and sustenance in this market. In such an event, the timeframe for opening a new mine is much shorter in developing countries (about one year) as compared to developed countries (about five to six years). Thus, investment opportunities are regarded as being more lucrative in the developing nations – especially in BRIC countries.
Global fluorspar consumption: Facts and figures
By volume, the total consumption of fluorspar can be estimated at 5.6 million tons annually. The value of the fluorspar market is pegged at USD 1.6 billion. The largest end-use segments of the fluorspar market are: aluminum fluoride and hydrofluoric acid.
Aluminum smelting makes extensive use of fluorine compounds such as synthetic cryolite derivates and aluminum fluoride. Aluminum is fast becoming the material of choice in the aerospace and automotive sector, which is also driving the demand for fluorspar.
The competitive composition of the global fluorspar market
There are a number of players in the global fluorspar market, which is fragmented in nature. In the coming years, mergers and acquisitions are likely as companies vie to consolidate their position in the market. Currently, the leading companies that are conspicuous by their presence in the fluorspar market are: Moodie Mineral Company, Minersa Minerales, Caanadafluorspar, Seaforth Mineral & Ore Co. Inc., RUSAL, Sallies Limited, Mexichem Fluor, and the Zhejiang Yingpeng Chemical Co. Ltd.
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