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The major driving factors for fluorite market are the growing chemical industry and increasing use of fluorine in the glass industry. The chemical industry and glass industry accounts for the major share of the fluorine demand globally. The other market that has applications of fluorite includes the metallurgy and aluminum smelting industry among others.
FLUORSPAR MARKET SEGMENTATION
The global fluorite market is segmented on the basis of grade and application. On the basis of grade, the fluorite market is segmented into acid grade fluorite, ceramic grade fluorite and metallurgical grade fluorite. The fluorite market on the basis of the application is classified into chemical industry, building material industry and metallurgical industry and others.
FLUORSPAR MARKET DYNAMICS
Fluorite is widely used in fertilizer and chemical. It is used for the manufacturing of hydrofluoric acid, aluminum fluoride, and silicofluoride. It is also used as the cleaner in the electronic industry which further propels the market growth. However, limited availability of this mineral in specific regions and stringent government regulations for the protection of the environment are the significant factors projected to hampers the market growth.
Fluorspar supply for 2018 was reasonably tight, mainly owing to mine closures from environmental controls in China, and limited production from new and emerging producers in Canada and Asia. The global fluorite market is expected to witness high growth, this looks set to continue through 2019 and even 2020 unless new capacity in South Africa and Canada starts to materialize later this year.