Wilmington, Delaware, Feb. 05, 2025 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Fluorite Market by Deposit Type (Hydrothermal Veins and Stockworks, Stratiform Replacement Deposits, and Others), Grade (Acid Grade Fluorite, Ceramic Grade Fluorite, and Metallurgical Grade Fluorite), and End-use Industry (Chemical Industry, Building Material Industry, Metallurgical Industry, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2033". According to the report, the "fluorite market" was valued at $3.6 billion in 2023, and is estimated to reach $5.9 billion by 2033, growing at a CAGR of 5.3% from 2024 to 2033.
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Prime determinants of growth
The global fluorite market has experienced growth due to several factors such as increase in use of fluorite in chemical industry. However, volatility in raw material prices is expected to hamper the growth of the market. Moreover, technological advancements in mining is expected to provide lucrative opportunities for market expansion.
Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| Market Size in 2023 | $3.6 billion |
| Market Size in 2033 | $5.9 billion |
| CAGR | 5.3% |
| No. of Pages in Report | 285 |
| Segments Covered | Deposit Type, Grade, End-use Industry, and Region |
| Drivers | Increase in demand for fluorite in chemical industry Increase in demand for fluorite in the Electronics Sector |
| Opportunity | Advancements in Processing Technologies |
| Restraint | Environmental Concerns and Regulations |
The hydrothermal veins and stockworks segment dominated the market in 2023
On the basis of deposit type, the hydrothermal veins and stockworks segment dominated the fluorite market in 2023. Hydrothermal veins containing fluorite are significant in mineral exploration, as they often indicate the presence of valuable ore deposits. For instance, fluorite is frequently found in association with galena (lead sulfide) and sphalerite (zinc sulfide) in Mississippi Valley-Type (MVT) deposits and carbonate-hosted ore systems. Fluorite in these veins may also act as a tracer for past geothermal activity, helping geologists understand the thermal history and fluid pathways of an area.
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The acid grade fluorite segment held the highest market share in 2023
On the basis of grade, the acid grade fluorite segment was the highest revenue contributor in the market in 2023. Acid grade fluorite is also vital in the production of aluminum fluoride (AlF₃), which is a critical flux in the electrolytic reduction of alumina to aluminum. This process improves efficiency by lowering the melting point of the aluminum oxide. In addition, hydrofluoric acid plays a significant role in the glass etching and polishing industry, petroleum alkylation, and the production of uranium hexafluoride (UF₆), used in nuclear fuel processing. Fluorocarbons, such as hydrofluorocarbons (HFCs) and hydrochlorofluorocarbons (HCFCs), are essential as refrigerants, though their usage is being phased down due to environmental concerns. Emerging alternatives like hydrofluoroolefins (HFOs) continue to rely on HF for production.
The chemical industry held the highest market share in 2023
On the basis of end-use industry, the chemical industry segment dominated the market in 2023. The chemical industry's reliance on fluorite is further exemplified by its role in environmental applications. Fluorite-based compounds are integral in the development of materials that support cleaner energy technologies, such as fuel cells and lithium-ion batteries. As industries strive for sustainability and innovation, the demand for high-quality fluorite is anticipated to grow, underscoring its continued significance in the chemical sector.
Asia-Pacific held the highest market share in 2023
By region, Asia-Pacific held the highest market share in 2023. In Asia-Pacific, fluorite serves as a flux in steelmaking and metallurgy, a critical industry for the region's infrastructure and construction boom. China, the world's largest steel producer, heavily relies on fluorite to lower melting points and remove impurities during production. Other steel-producing nations in the region, such as India and Japan, also utilize fluorite for similar purposes, underscoring its importance in maintaining high-quality steel outputs. Asia-Pacific countries are also exploring the use of fluorite in environmental applications, such as the treatment of industrial waste and water. Its capacity to assist in removing heavy metals and fluorides is being increasingly recognized in regions facing water pollution challenges, particularly in South and Southeast Asia.
Leading Market players:
- China Zhong Qi Holdings Limited
- CHINA KINGS RESOURCES GROUP CO., LTD
- Koura
- Gujarat Mineral Development Corporation Ltd.
- MINERSA GROUP
- MONGOLROSTSVETMET LLC
- ARES Strategic Mining Inc.
- SepFluor
- Sinochem Group
- AMC
The report provides a detailed analysis of these key players in the global fluorite market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, and agreements to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to highlight the competitive scenario.
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Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
