Fluorite Market to Face a Significant Slowdown in 2030, as COVID-19 Sets a Negative Tone for Investors
Fluorite, also known as fluorspar is a popular mineral that is available naturally in all colors of spectrum. It is the mineral form of calcium fluorite that belongs to the halide minerals. It is a visible mineral both in ultraviolet as well as visible light. Pure fluorite is colorless and the variations in the color are caused by impurities. The common colors of fluorite include purple, blue, yellow, green, and blue. Fluorite has an attractive cleavage habits and the cleavage, which is perfect and parallel to octahedral faces, can be peeled off in some cases to make a smooth crystal perfect octahedron. Fluorite is known to be one of the famous fluorescent minerals.
The word fluorescent has arrived from fluorite mineral. Fluorite crystallizes in a cubic design. The major reserves for fluorite is found in China which accounts for around 24 million tons in inner Jiangxi, Mongolia, Hunan, Zhejiang and Fujian provinces. These reserves make about 80% of the national total of fluorite reserves. As China has introduced many measures to protect the fluorite reserves, the output for fluoride has remained steady.
Fluorite generally has lapidary and ornamental uses. Fluorite can be drilled into jewelry, however it is not used as a semiprecious stone due to its relative softness. In industries, fluorite is usually used in the production of certain glasses and enamels and used as flux for smelting. Three different grades of fluorspar include acid, ceramic and metallurgical. The pure form of fluorite is used for manufacture of hydrofluoric acid, which acts as an intermediate source for most of the fine chemicals containing fluorine. Transparent fluorite lenses have low dispersion and so lenses that are manufactured using them have low dispersion and they exhibit very less chromatic aberration. This property of fluorite mineral makes it important in telescopes and microscopes.
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.
The key segments for fluorite market include North America, Asia Pacific, Europe and Rest of the World (RoW). Western Europe, China and the U.S. are said to be the major consumers of fluorite worldwide. Western Europe and the U.S account for major demand for acid fluorite that is used in the manufacture of hydrofluoric acid. The cement and glass industry in China generate the largest demand for fluorite and are expected to drive the market globally.
The key companies profiled in the report include Centralfluor Industries Group and Zhejiang Wuyi Shenlong Flotation Co Ltd., Sinochem Lantian Co., Ltd, Inner Mongolia Xiang Zhen Mining Group Ltd., China Kings Resources Group Co., Ltd. DO-Fluoride and Zhejiang Yongtai Technology has started its expansion in the fluorite field. Multiple fluorite enterprises are focusing on strengthening the integration of downstream and upstream industry chain of fluorite reserves for avoiding price volatility and to achieve higher value for its products. Mexichem enterprise has large reserves of fluorite that produces fluoroelastomers and fluoropolymers for benefits. Minersa is said to be the second largest producer of fluorite with production capacity of 380 Kt/a. It has a fluorite-fluorine industrial chemical chain.
This research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data and statistically-supported and industry-validated market data and projections with a suitable set of assumptions and methodology. It provides analysis and information by categories such as market segments, regions, product types and distribution channels.