Growing automotive industry across the globe is touted to drive the overall fluorspar market over the next seven years. Fluorspar is commercially graded on the basis of their quality and attributes into different sections such as acid grade, metallurgical grade and ceramic grade. Major fluorspar market applications include aluminum market followed very closely by opaque glass market. Surge in the manufacturing of hydrofluoric acid and steel making market is expected to bolster the global fluorspar market. Hydrofluoric acid market which is used for manufacturing fluorine products is expected to augment the global market for fluorspar. Enamels industry is an important fluorspar end-use industry and is projected to witness vigorous growth over the forecast period. Constant expansion of the foundry industry is touted to foster the market demand for fluorspar.
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Rise in metal market is also expected to aid the global market. Growth in fluorocarbons is expected to be beneficial for the overall market. It is a by-product of fluorspar and is in down-streaming activities such as refining crude oil. High opaque glass application demand in offices, housing infrastructure and hospitals has led to the growth in the global market. Lithium battery is a major end-use market for fluorspar and is expected to witness brisk growth over the next seven years. Strict government policies concerning fluorspar processing may dampen the global market growth.
China has dominated the global fluorspar market. This is anticipated to drive the regional Asia Pacific market growth. Growing downstream activities in China is touted to fuel the overall market growth. Considerable fluorspar reserves in Mongolia, Spain and Mexico are touted to assist their respective regional market growth over the next seven years. Growing construction in other emerging economics such as Malaysia, India, Russia, Vietnam and Indonesia is expected to bolster the global fluorspar market.
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