The global fluorspar market is expected to reach USD 3.49 Billion by 2027, according to a new report by Reports and Data. Growing demand for aluminum and steel, particularly in the emerging economies is playing an instrumental role in the growth of the market. Aluminum finds widespread usage used in the production of automobile aircraft. Stable growth in the automotive production in especially in the emerging economies such as China India in the Asia Pacific region, along with an escalating vehicle demand attributed to a rise in the level of disposable income of people and GDP growth is boosting the demand for aluminum, which in turn, is driving the demand for fluorspar used in the production of aluminum.
The emerging and present key participants in the Fluorspar market are:
Seaforth Mineral Ore Company Ltd., RUSAL, Minersa Minerals, Mexichem Fluor, Sallies Ltd., Canada Fluorspar, Zhejiang Yingpeng Chemical Ltd., British Fluorspar Limited, China Kings Resources Group Co. Ltd., and Masan Group, among others.
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The research study examines the Fluorspar Market and the impact of COVID-19 observed on the overall sector. The pandemic has affected the global industry extensively. The current changes in the business setting and the future effects of the outbreak are assessed in the report.
Profitability scope and Prospects:
The key participants who have shown tremendous growth in the Fluorspar market have been included in the report. In the report, data from 2016 to 2018, shows that some of the companies have shown enormous sales revenues, with the net revenue being doubled and the profits continually increasing. The profitability of the products being sold by the company indicates the influence and competitive advantage these companies have over the others.
For the purpose of this report, Reports and Data have segmented the global fluorspar market on the basis of grade, distribution channel, application, and region:
Grade Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Acid Spar
- Metallurgical Spar
- Ceramic Spar
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027, Revenue, USD Million; 2017-2027)
- Hydrofluoric Acid
Regional Outlook (Revenue in USD Million; 2016–2027)
- North America (United States, Canada and Mexico)
- Europe (Germany, France, UK, Russia and Italy)
- Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
- South America (Brazil, Argentina, Colombia)
Further key findings from the report suggest
- By grade, the acid spar held the largest market share of more than 60.0% in 2019 and is expected to grow at a rate of 5.0% in the forecast period. This grade of fluorspar is primarily utilized for producing aluminum fluoride (ALF3), which functions as a flux to lower the bath temperature in the production of aluminum. Moreover, acid spar finds usage in the production of hydrofluoric acid (HF), which is a major source of all fluorochemicals.
- By distribution channel, the online distribution channel is projected to grow at a faster rate of 6.1% in the period 2020-2027, as this mode of distribution has the advantage of providing a broader exposure to the product produced by the manufacturers, especially with the proliferation of smart devices and internet connectivity.
- By application, metallurgy contributed to the second-largest market share in 2019 and is likely to grow at a rate of 5.5% in the forecast. Fluorspar has widespread application in metallurgy, for instance, it is added in small quantities for the purpose of electrolytic reduction of alumina dissolved in fused cryolite to provide good electrical conductivity to the fused mixture and to lower the melting point of the mixture to about 1140 K….Continued
The Fluorspar report addresses the following questions:
- Understand the demand for global Fluorspar to determine the viability of the market.
- Identify the developed and emerging markets where Fluorspar are offered.
- Identify the challenge areas and address them.
- Develop strategies based on the drivers, trends and highlights for each of the segments.
- Evaluate the value chain to determine the workflow and to get an idea of the current position where you are placed.
- Recognize the key competitors of this market and respond accordingly.
- Knowledge of the initiatives and growth strategies taken up by the major companies and decide on the direction for further growth.
- Define the competitive positioning by comparing the products and services with the key players in the market.
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