Fluorspar Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 2.76 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Fluorspar Market Analysis
The Fluorspar Market size is estimated at 7.70 Million tons in 2024, and is expected to reach 8.82 Million tons by 2029, growing at a CAGR of 2.76% during the forecast period (2024-2029).
- The major factors driving the demand for fluorspar are the growing demand for fluorspar-extracted chemicals and increasing steel production. Key applications of fluorspar include the metallurgical and chemical sectors.
- However, environmental regulation on the extraction of chemicals from fluorspar is expected to hinder the market's growth.
- Nevertheless, the increasing use of fluorspar-made fluoropolymers in lithium batteries is expected to create new opportunities for growth.
- Asia-Pacific is expected to dominate the market and register the highest CAGR during the forecast period.
Fluorspar Market Trends
Metallurgy Expected to be the Fastest-growing Application
- Fluorspar plays a pivotal role in producing steel, iron, and various other metals. Acting as a flux, it purges impurities such as sulfur and phosphorus from molten metal and enhances the fluidity of slag. Typically, 20 to 60 pounds of fluorspar are used for every ton of metal produced.
- Fluorspar, rich in fluorite, can be employed directly as a metallurgical flux, bypassing any beneficiation process. It also contains trace amounts of other compounds essential for slag composition.
- In steelmaking and metallurgical processes, fluorspar is combined with lime to enhance slag fluidity. Notably, steel production has seen an uptick in fluorspar consumption, rising from 2 to 10 kg, which translates to 5% to 10% of lime's quantity.
- The metallurgical industry encompasses the exploration, mining, cleaning, smelting, and rolling of metal minerals.
- Given the surging demand for fluorspar, a corresponding boost in global metallurgical activities is anticipated, fueling growth in the fluorspar market during the forecast period.
- In the United States, burgeoning mining activities are set to bolster the domestic metallurgical industry. Prominent players in the US mining landscape include Newmont Mining Corp., Peabody Energy Corp., Arch Resources Inc., and Suncoke Energy Inc.
- As per the data from the World Steel Association, global crude steel production in 2023 reached 1888.2 million tons, reflecting a slight dip of 0.1% from 2022. Factors such as ongoing conflicts, energy price uncertainties, and monetary tightening due to persistent inflation influenced this trend. However, steel demand has rebounded, with projections indicating a significant uptick during the forecast period, particularly in Asia-Pacific.
- According to data from the World Steel Association, Asia's total crude steel production in 2023 reached 1.36 billion tons, marking a 0.8% increase from the previous year's production.
- Given these dynamics, a robust potential surge in fluorspar demand from metallurgical applications is anticipated in the coming years.
Asia-Pacific Expected to Dominate Fluorspar Market
- Asia-Pacific is poised to lead the fluorspar market during the forecast period. Rising demand from the chemical industry and expanding applications in steel and automotive sectors in developing nations, notably China, Japan, South Korea, and India, are set to bolster this demand.
- China, the global steel giant, accounts for 55% of the world's steel production. The World Steel Association highlights China's consistent output, with 1,019.1 million tons in 2023, matching the 2022 figure. Notably, the country's production in the first 10 months of 2023 reached 874.7 million metric tons, marking a 1.4% uptick from the same period in 2022. China's crude steel capacity witnessed modest growth in 2023, driven by plans from Chinese steelmakers to introduce up to 118 million MT/year of new capacity through a capacity swap mechanism.
- South Korea's steel sector plays a vital role in the nation's economic landscape, supporting key industries such as automotive, construction, and shipbuilding. The Korean Iron & Steel Association highlights the steel industry's contribution of 1.5% to the nation's GDP and 4.9% to its manufacturing sector. As the world's sixth-largest steel producer, South Korea achieved a production of approximately 66.7 million tons of crude steel in 2023, marking a 1.3% increase from 2022.
- In India, fluorspar is primarily traded in two grades: acid grade (acidspar) and sub-acid grade, the latter encompassing metallurgical and ceramic grades, also termed as metspar. India's fluorspar production is minimal on a global scale.
- As per the data from the US Geological Survey, China leads as the world’s top miner of fluorspar, boasting an output of 5.7 million metric tons. China's fluorspar reserves stood at 67 million metric tons in 2023.
Fluorspar Industry Overview
The fluorspar market is partially consolidated in nature. The major players (not in any particular order) include Koura, China Kings Resources Group Co. Ltd, Mongolrostsvetmet LLC, Minersa Group, and Masan High-Tech Materials Corporation.
Fluorspar Market Leaders
-
China Kings Resources Group Co. Ltd
-
Mongolrostsvetmet LLC
-
Minersa Group
-
Masan High-Tech Materials Corporation
-
Koura
*Disclaimer: Major Players sorted in no particular order
Fluorspar Market News
- April 2024: Lithium Corporation, a North American exploration mining company, broadened its portfolio by staking a new property prospective for hosting fluorspar mineralization.
- July 2023: AMED Funds and Clariti Strategic AdvisorsTM announced the successful acquisition of Canada Fluorspar Inc., the parent company of the St. Lawrence, NL-based Canada Fluorspar mine, by a portfolio company of AMED Fund IV. Leveraging AMED's expertise in fluorspar and its established sales and distribution network, the operation is poised to deliver substantial advantages to both the Province and the local community.
- April 2022: The Gujarat Mineral Development Corporation (GMDC), India's largest lignite miner, revealed plans to establish a fluorspar beneficiation plant at Kadipani. This initiative is a joint venture with Gujarat Fluorochemicals and Navine Fluorine International, targeting a proposed capacity of 40,000 tonnes per annum.
Fluorspar Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
-
4.1 Market Drivers
- 4.1.1 Growing Demand for Fluorspar from Fluorspar Extracted Chemicals
- 4.1.2 Increasing Steel Production Driving the Demand
- 4.1.3 Other Drivers
-
4.2 Market Restraints
- 4.2.1 Environmental Regulation on Extraction of Chemicals from Fluorspar
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
-
4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
-
5.1 By Grade
- 5.1.1 Acid Grade
- 5.1.2 Ceramic Grade
- 5.1.3 Metallurgical Grade
- 5.1.4 Optical Grade
- 5.1.5 Lapidary Grade
-
5.2 By Variety
- 5.2.1 Antozonite
- 5.2.2 Blue John
- 5.2.3 Chlorophane
- 5.2.4 Yttrocerite
- 5.2.5 Yttrofluorite
- 5.2.6 Other Varieties
-
5.3 By Application
- 5.3.1 Metallurgical
- 5.3.2 Ceramics
- 5.3.3 Chemicals
- 5.3.4 Other Applications
-
5.4 By Geography
- 5.4.1 Asia-Pacific
- 5.4.1.1 China
- 5.4.1.2 India
- 5.4.1.3 Japan
- 5.4.1.4 South Korea
- 5.4.1.5 Malaysia
- 5.4.1.6 Thailand
- 5.4.1.7 Indonesia
- 5.4.1.8 Vietnam
- 5.4.1.9 Rest of Asia-Pacific
- 5.4.2 North America
- 5.4.2.1 United States
- 5.4.2.2 Canada
- 5.4.2.3 Mexico
- 5.4.3 Europe
- 5.4.3.1 Germany
- 5.4.3.2 United Kingdom
- 5.4.3.3 France
- 5.4.3.4 Italy
- 5.4.3.5 Spain
- 5.4.3.6 NORDIC Countries
- 5.4.3.7 Turkey
- 5.4.3.8 Russia
- 5.4.3.9 Rest of Europe
- 5.4.4 South America
- 5.4.4.1 Brazil
- 5.4.4.2 Argentina
- 5.4.4.3 Colombia
- 5.4.4.4 Rest of South America
- 5.4.5 Middle East and Africa
- 5.4.5.1 Saudi Arabia
- 5.4.5.2 Qatar
- 5.4.5.3 United Arab Emirates
- 5.4.5.4 Nigeria
- 5.4.5.5 Egypt
- 5.4.5.6 South Africa
- 5.4.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share (%)**/Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
-
6.4 Company Profiles
- 6.4.1 Anhui Fitech Materials Co. Ltd
- 6.4.2 China Kings Resources Group Co. Ltd
- 6.4.3 Fluorsid
- 6.4.4 Guangzhou Kunhai Trading Co. Ltd
- 6.4.5 Koura
- 6.4.6 Luoyang Fengrui Fluorine Industry Co. Ltd
- 6.4.7 Masan High-Tech Materials Corporation
- 6.4.8 Minchem Impex India Private Limited
- 6.4.9 Minersa Group
- 6.4.10 Mongolrostsvetmet LLC
- 6.4.11 Sallies Industrial Minerals
- 6.4.12 Seaforth Mineral & Ore Co.
- 6.4.13 SR Group
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Increasing Use of Fluospar-made Fluoropolymers in Lithium Batteries
- 7.2 Other Opportunities
Fluorspar Industry Segmentation
Fluorspar, or fluorite, is the mineral form of calcium fluoride. CaF2 is a chemical calcium fluoride type of halide mineral. Although isometric cubic crystallization is prevalent, octahedral and more complicated isometric forms are also common in the material.
The fluorspar market is segmented by grade, variety, application, and geography. By grade, the market is segmented into acid grade, ceramic grade, metallurgical grade, optical grade, and lapidary grade. By variety, the market is segmented into antozonite, blue john, chlorophane, yttrocerite, yttrofluorite, and other varieties. By application, the market is segmented into metallurgical, ceramic, chemical, and other applications. The report also covers the market size and forecasts for the fluorspar market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (tons).
| By Grade | Acid Grade | |
| Ceramic Grade | ||
| Metallurgical Grade | ||
| Optical Grade | ||
| Lapidary Grade | ||
| By Variety | Antozonite | |
| Blue John | ||
| Chlorophane | ||
| Yttrocerite | ||
| Yttrofluorite | ||
| Other Varieties | ||
| By Application | Metallurgical | |
| Ceramics | ||
| Chemicals | ||
| Other Applications | ||
| By Geography | Asia-Pacific | China |
| India | ||
| Japan | ||
| South Korea | ||
| Malaysia | ||
| Thailand | ||
| Indonesia | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| By Geography | North America | United States |
| Canada | ||
| Mexico | ||
| By Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| NORDIC Countries | ||
| Turkey | ||
| Russia | ||
| Rest of Europe | ||
| By Geography | South America | Brazil |
| Argentina | ||
| Colombia | ||
| Rest of South America | ||
| By Geography | Middle East and Africa | Saudi Arabia |
| Qatar | ||
| United Arab Emirates | ||
| Nigeria | ||
| Egypt | ||
| South Africa | ||
| Rest of Middle East and Africa |
Fluorspar Market Research FAQs
How big is the Fluorspar Market?
The Fluorspar Market size is expected to reach 7.70 million tons in 2024 and grow at a CAGR of 2.76% to reach 8.82 million tons by 2029.
What is the current Fluorspar Market size?
In 2024, the Fluorspar Market size is expected to reach 7.70 million tons.
Who are the key players in Fluorspar Market?
China Kings Resources Group Co. Ltd, Mongolrostsvetmet LLC, Minersa Group, Masan High-Tech Materials Corporation and Koura are the major companies operating in the Fluorspar Market.
Which is the fastest growing region in Fluorspar Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Fluorspar Market?
In 2024, the Asia Pacific accounts for the largest market share in Fluorspar Market.
What years does this Fluorspar Market cover, and what was the market size in 2023?
In 2023, the Fluorspar Market size was estimated at 7.49 million tons. The report covers the Fluorspar Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Fluorspar Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Fluorspar Industry Report
Statistics for the 2024 Fluorspar market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Fluorspar analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
