Fluorspar Market Trends： the market size is projected to grow from USD 3,942 million in 2024 to USD 5,899 million by 2031

Fluorspar, also called fluorite, is the common name of the mineral having chemical composition calcium fluoride (CaF2). It is a mineral with veritable bouquet of brilliant colors from hallmark color purple to blue, green, yellow, colorless, brown, pink, black and reddish orange. The rich purple color is by far the most famous and popular color. It is an important commercial source of fluorine. Fluorite plays a vital role in the manufacture of aluminium, gasoline, insulating foams, refrigerants, steels and uranium fuel.

Fluorspar is increasingly used in steel production, aluminum smelting, and other metallurgical processes due to its fluxing properties. At the same time, the rising demand for fluorochemicals, including hydrofluoric acid (HF) and refrigerants, is driving the fluorspar industry. In addition, the application scope of fluorspar is still expanding. For example, the demand for fluorspar used in lithium-ion batteries and semiconductor industries is growing.
Globally, the production of fluorspar is mainly concentrated in China, Mongolia, Mexico, Europe and South Africa, among which China is also the largest consumer.

Since 2021, the price of fluorspar has fluctuated upward. Moreover, the price of fluorspar has shown a more obvious trend of off-season and peak season with the change of seasons. In winter, the price of fluorspar will be at a higher position, while the price at other times is at a relatively low point.

According to the new market research report "Fluorspar - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031", published by QYResearch, the global Fluorspar market size is projected to grow from USD 3,942 million in 2024 to USD 5,899 million by 2031, at a CAGR of 6.9% during the forecast period.

Figure. Global Fluorspar Market Size (US$ Million), 2020-2031

Source: QYResearch, "Fluorspar - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”

Figure. Global Fluorspar Top 20 Players Ranking and Market Share (Ranking is based on the revenue of 2024, continually updated)

Source: QYResearch, "Fluorspar - Global Market Share and Ranking, Overall Sales and Demand Forecast 2025-2031”

This report profiles key players of Fluorspar such as Orbia, Inner Mongolia Baotou Steel Union, Mongolrostsvetmet SOE, China Kings Resources Group, Minersa.
In 2024, the global top five Fluorspar players account for 28% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Fluorspar.

Market Drivers:
Hydrofluoric acid is a critical precursor in various industries, including pharmaceuticals, electronics, and chemicals, driving the demand for fluorspar.
Restraint:
The prices of fluorspar can be volatile, affecting the profitability of companies reliant on this raw material. What's more, the heavy reliance on a few countries for fluorspar production can lead to supply chain disruptions due to geopolitical tensions or trade restrictions.
Opportunity:
Developing countries are increasing their consumption of fluorine-based products due to industrialization and urbanization, contributing to market growth. In the field of new energy, fluorspar is used in the production of lithium battery positive electrode materials and electrolytes. In addition, fluorspar as a basic raw material is gradually applied to industries such as semiconductors. The market potential is huge.

About The Authors
Maocai Zhang - Lead Author
Email: zhangmaocai@qyresearch.com

About QYResearch
QYResearch founded in California, USA in 2007.It is a leading global market research and consulting company. With over 18 years’ experience and professional research team in various cities over the world QY Research focuses on management consulting, database and seminar services, IPO consulting (data is widely cited in prospectuses, annual reports and presentations), industry chain research and customized research to help our clients in providing non-linear revenue model and make them successful. We are globally recognized for our expansive portfolio of services, good corporate citizenship, and our strong commitment to sustainability. Up to now, we have cooperated with more than 60,000 clients across five continents. Let’s work closely with you and build a bold and better future.
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