GIA announces the release of a comprehensive global report on Fluorspar markets. The global market for Fluorspar is forecast to reach 5.2 million metric tons by the year 2015. Aluminum fluoride markets are likely to spur demand for fluorspar in the coming few years. Demand for fluorspar in other areas such as aluminum smelters and electric arc furnaces among others is also expected to grow robustly, thus boosting prospects of the market in the near future.
Global fluorspar market witnessed severe supply crunch in the year 2007 due to enhanced export tax imposed by the Chinese government on the mineral as part of the country’s policy to boost domestic fluorocarbon market and to preserve fluorspar for domestic consumption. This pushed global prices of the mineral and provided an opportunity to other fluorspar manufacturers to control prices through supply. However by the last quarter of 2008, the market reeled under the impact of recession and recorded a drop in demand across all geographies. The market remained weak throughout 2009, compelling several fluorspar manufacturers to close down or temporarily halt their operations. The impact was significantly higher on manufacturers based in African regions. The region reported closedown of several leading fluorspar manufacturers in the last two years. Chinese fluorspar exports also tripped down sharply in 2009. However, despite downturn in fluorspar market, the mineral retained its importance in various industrialized regions such as Europe and the US among others during 2008-2009. Consumption of fluorspar in Europe and the US has been relatively stable over the last few years. Other regions displaying increased appetite for fluorspar include Mexico and China.
Asia-Pacific represents the largest region for fluorspar worldwide, as stated by the new market research report on Fluorspar. Suring at a steady CAGR, Asia-Pacific market is also the fastest growing regional market for fluorspar. Europe represents the other principal market, with fluorspar consumption projected to reach 860.3 thousand metric tons by 2012.
In terms of end-use, Hydrofluoric Acid & Aluminum Fluoride constitutes the largest end-use segment of fluorspar. Aluminum industry also represents a leading consumer of fluorspar. Synthetic cryolite as well as aluminum fluoride, which are derivatives of acid grade fluorspar are the major fluorine compounds that find extensive use in aluminum smelting. Growing demand for aluminum in automotive sector is attributed as a major factor driving growth in the fluorspar market. Electric Furnaces represents other leading end-use segment for fluorspar.
Stringent regulatory environment on the use of Chlorofluorocarbons (CFCs) is the primary reason for sluggish fluorspar market. Fluorspar growth is dependent on hydrofluorocarbons (HFCs) usage as an alternative to CFCs. The consumption of fluorspar is directly related to the production and demand of hydrofluorocarbons (HFCs). Further, prospects of non-ozone depleting refrigerants represent other major factor influencing fluorspar growth. On the pricing front, increased energy prices coupled with soaring costs of raw materials has led to increased prices of hydrofluoric acid. Demand for the mineral is expected to grow in the near-term driven by increasing use of fluorspar for manufacturing fluorocarbons, as cholorofluorocarbons are completely pashed out for use.
Major players profiled in the report include Glebe Mines Ltd., Mexichem Fluor S.A. de C.V., Minersa Minerales Y Productos Derivados S.A, Vergenoeg Mining Company (Pty) Limited, Moodie Mineral Company, Seaforth Mineral & Ore Co. Inc., Sallies Limited, and Zhejiang Yingpeng Chemical Co. Ltd.
The research report titled “Fluorspar: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Fluorspar markets, impact of recession on the markets, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global as well as regional market participants. The report provides annual sales estimates and projections for the years 2007 through 2015 for the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Middle East, and Latin America. Key end-use segments analyzed include Hydrofluoric Acid & Aluminum Fluoride, Basic Oxygen Furnaces, Electric Furnaces and Others. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Fluorspar_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world’s largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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