Competitive Analysis with Leading Players:
The global Fluorspar market appears to be highly competitive characterized by the presence of several well-established players. These players are focusing on optimized situational awareness for customers and thus to ensure their mission success. Matured players are increasingly seeking market expansion through various strategic initiatives such as mergers and acquisitions, innovation, and are increasingly investing in research and development to develop cost-competitive product portfolio.
Matured players are investing in internal R&D while acquiring other promising firms. These well-established players operating in the Fluorspar market are targeting more investments in technology development and upgrading their existing products. These vendors strive to deliver the high-purity product that is manufactured to the highest standards.
- Mexichem S.A.B. de C.V
- Tertiary Minerals Plc
- Masan Group
- Centralfluor Industries Group, Inc.
- Zhejiang Wuyi Shenlong Floatation Co Ltd.
- Kenya Fluorspar Company Ltd.
- Minersa Group
- British Fluorspar Ltd
- Seaforth Mineral & Ore Co., Inc
- Mongolrostsvetmet LLC
- China Kings Resources Group Co., Ltd.
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Fluorspar Market Scenario:
Fluorspar caters to the various end-use industries such as electricals & electronics, automotive, machinery, and personal care among others, creating an enormous demand. As a result, fluorspar garners tremendous traction, worldwide. The augmented demand and uses are some of the key driving forces escalating the market on the global platform.
Acknowledging the huge traction, the market is witnessing currently, Market Research Future (MRFR) in its recently published study report asserts that the revenue contribution of the Fluorspar market is expected to increase by a substantial leap by 2023, registering a phenomenal CAGR during the period 2018 to 2023.
Fluorspar Industry Updates:
January 25, 2019 —- Tertiary Minerals Plc. (the UK), a leading global player engaging in the identification, acquisition, exploration, and development of mineral projects primarily focusing on fluorspar announced raising the funds of Pounds 250,000 to provide additional working capital for fluorspar projects development
Alongside continuing to progress the Storuman Mine Permit appeal with the Swedish Government while increasing the focus on potential acquisition targets, the company also confirmed that it will also use the funds to progress the evaluation and due diligence of acquisition opportunities.
January 23, 2019 —- Shenghe Resources Holding Co Ltd. (China), a leading global company involved in to developing, producing, and supplying rare earth (RE) resource and relevant products and Greenland Minerals Limited (Australia), an exploration company focusing on acquisition, exploration, and development of its license area over the northern ilimaussaq intrusive complex in Greenland announced entering into a joint venture with subsidiaries of China National Nuclear Corporation (CNNC) for the trading and processing of rare earth minerals.
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Global Fluorspar Market Segmentation:
The global fluorspar market is segmented by form, purity & its application, end-use industry, and region.
On the basis of the form, the global fluorspar market is segmented into a dry powder, lump form, filter cake, and others.
On the basis of the purity, the global fluorspar market is segmented into acid spar, ceramic spar, met spar, and others. Acid spar is sub-segmented based on application into hydrofluoric acid (HF), aluminum fluoride, synthetic cryolite, welding rods, and others. Hydrofluoric acid is further segmented based on application into fluorocarbons (refrigerant, foam blowing agent), petroleum alkylation, toothpaste, the etchant for semiconductors, steel pickling process, Li-ion batteries, and others. Ceramic spar is sub-segmented based on application into glass, ceramics, enamelware, and others. Met spar is sub-segmented based on application into metal (steel, iron, and others), cement, fluorite carved craftworks, and others.
On the basis of the end-user industry, the global fluorspar market is segmented into metallurgy, chemical, ceramic, optical, electrical & electronics, personal care, lapidary, and others.
On the basis of the region, the global fluorspar market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The global fluorspar market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa.
Asia Pacific accounted for the largest share of the global fluorspar market in 2017 due to its widespread applications in different end-use industries and is expected to continue growing over the forecast period. China was the major contributor to this regional market growth in terms of both production and consumption in 2017 and is expected to continue dominating the market over the forecast period. Additionally, low labor & processing cost and high demand from major end-use industries such as construction, automotive, chemical, ceramic, optical, electrical & electronics, personal care, and lapidary industry are contributing to the growth of fluorspar market in China. Growing construction, chemical, ceramic, personal care, optical, and lapidary industries in India due to rapid industrialization & urbanization, rising disposable income, and changing lifestyle are expected drive the demand for fluorspar to great extent over the forecast period, 2018-2023.
North America was one of the major consumers of the global fluorspar market, however, due to the absence of large sources and high production rates of fluorspar in the country, most of the product is imported from China and Mexico. The product is mainly used for the manufacturing of hydrofluoric acid (HF) and other fluorine compounds due to its growing demand from the Petro-chemical industry.
Europe is expected to be another major market for fluorspar and is projected to witness steady growth over the forecast period. The significant demand for aluminum from the strong automotive industry is expected to drive the regional fluorspar market. Russia is another major consumer of fluorspar due to strong demand from the metallurgy industry for manufacturing of steel and aluminum.
The Middle East & Africa is expected to witness rise in the demand for fluorspar over the forecast period 2018-2023 due to significant demand for hydrofluoric acid (HF) and steel from the chemical and construction industry respectively. Moreover, South Africa has a huge fluorspar reserve and generate a considerable revenue from exporting a considerable amount of fluorspar.
Large reserve of the fluorspar in Mexico are likely to drive the Latin American market over the forecast period. The region is expected to gain revenue mostly from the import of the product to North America and European countries due to the high cost involved in the processing on account of its poor economy.
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