Asia: Fluorspar Market 2024

Fluorspar Market Size in Asia

In 2021, the Asian fluorspar market decreased by -3.5% to $X for the first time since 2017, thus ending a three-year rising trend. The total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +90.6% against 2017 indices. The level of consumption peaked at $X in 2020, and then reduced modestly in the following year.

Fluorspar Production in Asia

In value terms, fluorspar production shrank to $X in 2021 estimated in export price. The total production indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +104.5% against 2017 indices. The most prominent rate of growth was recorded in 2018 with an increase of 65%. Over the period under review, production attained the maximum level at $X in 2020, and then fell in the following year.

Fluorspar Exports

Exports in Asia

In 2021, shipments abroad of fluorspar decreased by -0.2% to X tons, falling for the second consecutive year after three years of growth. Over the period under review, exports, however, posted a slight increase. The growth pace was the most rapid in 2018 with an increase of 95% against the previous year. Over the period under review, the exports hit record highs at X tons in 2019; however, from 2020 to 2021, the exports failed to regain momentum.

In value terms, fluorspar exports rose to $X in 2021. In general, exports, however, enjoyed a temperate expansion. The pace of growth was the most pronounced in 2018 with an increase of 137%. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Mongolia was the key exporting country with an export of about X tons, which finished at 57% of total exports. China (X tons) ranks second in terms of the total exports with an 18% share, followed by Vietnam (11%) and Pakistan (6.2%). Hong Kong SAR (X tons) followed a long way behind the leaders.

Exports from Mongolia increased at an average annual rate of +4.5% from 2012 to 2021. At the same time, Pakistan (+22.9%), Vietnam (+16.1%) and Hong Kong SAR (+7.2%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in Asia, with a CAGR of +22.9% from 2012-2021. By contrast, China (-7.6%) illustrated a downward trend over the same period. While the share of Mongolia (+13 p.p.), Vietnam (+7.4 p.p.) and Pakistan (+5.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of China (-24.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest fluorspar supplying countries in Asia were Mongolia ($X), China ($X) and Vietnam ($X), together accounting for 86% of total exports. These countries were followed by Pakistan and Hong Kong SAR, which together accounted for a further 7.8%.

In terms of the main exporting countries, Pakistan, with a CAGR of +24.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2021, picking up by 3.7% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when the export price increased by 22%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Vietnam ($X per ton), while Mongolia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+7.8%), while the other leaders experienced more modest paces of growth.

Fluorspar Imports

Imports in Asia

In 2021, imports of fluorspar in Asia expanded markedly to X tons, picking up by 12% on the previous year. In general, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2018 with an increase of 60% against the previous year. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, fluorspar imports surged to $X in 2021. Over the period under review, imports enjoyed a strong increase. The most prominent rate of growth was recorded in 2018 when imports increased by 80% against the previous year. The level of import peaked in 2021 and is likely to see steady growth in the near future.

Imports by Country

China was the major importing country with an import of around X tons, which reached 45% of total imports. India (X tons) ranks second in terms of the total imports with a 19% share, followed by Turkey (12%), South Korea (5.4%), Indonesia (4.9%), Japan (4.7%) and the United Arab Emirates (4.6%).

Imports into China increased at an average annual rate of +20.6% from 2012 to 2021. At the same time, Indonesia (+40.9%), the United Arab Emirates (+19.4%), Turkey (+13.9%), India (+11.1%) and South Korea (+1.2%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing importer imported in Asia, with a CAGR of +40.9% from 2012-2021. By contrast, Japan (-10.9%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Indonesia, Turkey, the United Arab Emirates and India increased by +26, +4.3, +3.3, +2.5 and +1.9 percentage points, respectively.

In value terms, China ($X), India ($X) and Indonesia ($X) appeared to be the countries with the highest levels of imports in 2021, together accounting for 61% of total imports.

Among the main importing countries, Indonesia, with a CAGR of +42.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Asia amounted to $X per ton, growing by 13% against the previous year. Over the period under review, the import price, however, showed a noticeable shrinkage. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Indonesia ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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