World - Fluorspar - Market Analysis, Forecast, Size, Trends And Insights
Update: COVID-19 Impact
Global Fluorspar Market Peaked at $2.3B, Rising for the Third Year in a Row
IndexBox has just published a new report: 'World - Fluorspar - Market Analysis, Forecast, Size, Trends and Insights'. Here is a summary of the report's key findings.
In 2019, the global fluorspar market increased by 8.9% to $2.3B, rising for the third consecutive year after four years of decline. Overall, consumption showed a relatively flat trend pattern. Global consumption peaked in 2019 and is expected to retain growth in the near future.
Consumption by Country
China (4.4M tonnes) constituted the country with the largest volume of fluorspar consumption, accounting for 58% of the total volume. Moreover, fluorspar consumption in China exceeded the figures recorded by the second-largest consumer, Mexico (521K tonnes), eightfold. The U.S. (334K tonnes) ranked third in terms of total consumption with a 4.4% share.
From 2012 to 2019, the average annual growth rate of volume in China stood at +1.7%. In the other countries, the average annual rates were as follows: Mexico (+7.7% per year) and the U.S. (-4.7% per year).
In value terms, China ($1.4B) led the market, alone. The second position in the ranking was occupied by Mexico ($113M). It was followed by the U.S.
The countries with the highest levels of fluorspar per capita consumption in 2019 were Mexico (3.92 kg per person), Italy (3.52 kg per person) and Canada (3.39 kg per person).
Market Forecast to 2030
Due to the industrial sector was hampered by lockdowns and tight financial conditions amid the pandemic, it is expected that in 2020, global consumption of fluorspar should decline somewhat against 2019. In the medium term, as the global economy recovers from the effects of the pandemic, the market is expected to grow gradually. Overall, market performance is forecast to pursue a slightly upward trend over the next decade, expanding with an anticipated CAGR of +0.6% for the period from 2019 to 2030, which is projected to bring the market volume to 8.1M tonnes by the end of 2030.
Production by Country
China (4.3M tonnes) remains the largest fluorspar producing country worldwide, accounting for 57% of total volume. Moreover, fluorspar production in China exceeded the figures recorded by the second-largest producer, Mexico (1.2M tonnes), threefold. The third position in this ranking was occupied by Mongolia (718K tonnes), with a 9.5% share (IndexBox estimates).
From 2012 to 2019, the average annual growth rate of volume in China was relatively modest. The remaining producing countries recorded the following average annual rates of production growth: Mexico (-0.1% per year) and Mongolia (+5.8% per year).
After two years of growth, global imports of fluorspar decreased by -9.9% to 2.4M tonnes in 2019. In general, imports experienced wild fluctuations. The most prominent rate of growth was recorded in 2018 with an increase of 24% year-to-year. As a result, imports attained the peak of 2.6M tonnes and then fell in the following year. In value terms, fluorspar imports contracted slightly to $628M (IndexBox estimates) in 2019.
Imports by Country
In 2019, China (520K tonnes), the U.S. (352K tonnes), Italy (263K tonnes), Russia (185K tonnes), India (136K tonnes), Japan (108K tonnes), the United Arab Emirates (74K tonnes), Tunisia (66K tonnes), South Korea (56K tonnes), Germany (52K tonnes), Canada (47K tonnes) and Turkey (46K tonnes) represented the key importer of fluorspar in the world, mixing up 81% of total import.
From 2012 to 2019, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United Arab Emirates, while imports for the other global leaders experienced more modest paces of growth.
In value terms, the U.S. ($102M), China ($96M), and Italy ($56M) constituted the countries with the highest levels of imports in 2019, together accounting for 40% of global imports. These countries were followed by Japan, India, Russia, Germany, the United Arab Emirates, South Korea, Canada, Tunisia, and Turkey, which together accounted for a further 36%.
Import Prices by Country
The average fluorspar import price stood at $266 per tonne in 2019, rising by 5.6% against the previous year. In general, the import price, however, showed a slight decline. The most prominent rate of growth was recorded in 2018 an increase of 15% y-o-y. Over the period under review, average import prices attained the maximum at $289 per tonne in 2012; however, from 2013 to 2019, import prices failed to regain momentum.
Prices varied noticeably by the country of destination; the country with the highest price was Germany ($451 per tonne), while Russia ($176 per tonne) was amongst the lowest.
From 2012 to 2019, the most notable rate of growth in terms of prices was attained by Canada, while the other global leaders experienced more modest paces of growth.
Source: IndexBox AI Platform
This report provides an in-depth analysis of the global fluorspar market. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2025.
Making Data-Driven Decisions to Grow Your Business
A Quick Overview of Market Performance
Understanding the Current State of The Market and Its Prospects
Finding New Products to Diversify Your Business
Choosing the Best Countries to Establish Your Sustainable Supply Chain
Choosing the Best Countries to Boost Your Exports
The Latest Trends and Insights into The Industry
The Largest Importers on The Market and How They Succeed
The Largest Exporters on The Market and How They Succeed
The Largest Producers on The Market and Their Profiles
The Largest Markets And Their Profiles
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