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Key Market Trends of Fluorspar
Growing Demand of Fluorspar from Fluorspar Extracted Chemicals
- Fluorspar is the mineral form of calcium fluoride which belongs to the halide minerals and crystallizes in isometric cubic habit.
- Pure fluorspar is transparent, both in visible and ultraviolet light, but impurities usually make it a colorful mineral used as stone in ornamental and lapidary applications.
- Some of the other minor application of fluorspar used in fluorocarbon derived products are in the manufacturing of welding road, aluminium, and steel. Furthermore, in the past the fluorocarbon-based chemicals were used in the production of chlorofluorocarbon (CFC). However, due to its environmental limitations, the fluorspar based (hydrochlorofluorocarbon) HCFC has replaced CFC in recent times.
- According to world steel association, global crude steel production in the year 2021 reached 1,911.9 million ton, increased by 3.6% compared to 2020 due to the rebound after covid-19. The demand of steel seems to be recovering and it is expected to increase significantly in the forecasted period, especially from the Asia-pacific region.
- Hence such rising demand for extracted chemicals for the end-user sector is estimated to drive the demand for fluorspar in the study period
Asia-Pacific Region to Dominate the Market
Fluorspar Market Snapshot & Fluorspar Market Overview