India: Fluorspar Market 2024

Fluorspar Market Size in India

The Indian fluorspar market surged to $X in 2021, increasing by 30% against the previous year. Over the period under review, consumption enjoyed a resilient expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Fluorspar Production in India

In value terms, fluorspar production declined modestly to $X in 2021 estimated in export price. Overall, production, however, saw a abrupt descent. The pace of growth appeared the most rapid in 2019 with an increase of 13% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production failed to regain momentum.

Fluorspar Exports

Exports from India

In 2021, fluorspar exports from India amounted to X tons, growing by 5.5% on 2020 figures. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 when exports increased by 115%. As a result, the exports reached the peak of X tons. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, fluorspar exports rose rapidly to $X in 2021. Overall, exports continue to indicate measured growth. The growth pace was the most rapid in 2019 when exports increased by 101% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Indonesia (X tons) was the main destination for fluorspar exports from India, accounting for a 49% share of total exports. Moreover, fluorspar exports to Indonesia exceeded the volume sent to the second major destination, Bangladesh (X tons), fourfold. Oman (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2021, the average annual growth rate of volume to Indonesia totaled +3.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bangladesh (-6.5% per year) and Oman (+5.5% per year).

In value terms, Indonesia ($X) remains the key foreign market for fluorspar exports from India, comprising 55% of total exports. The second position in the ranking was held by Brazil ($X), with an 8.6% share of total exports. It was followed by Bangladesh, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Indonesia totaled +3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (+8.9% per year) and Bangladesh (-5.7% per year).

Export Prices by Country

In 2021, the average fluorspar export price amounted to $X per ton, rising by 8.9% against the previous year. Over the last nine years, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2020 an increase of 26%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the immediate term.

Prices varied noticeably country of destination: the country with the highest price was Brazil ($X per ton), while the average price for exports to Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Kuwait (+26.4%), while the prices for the other major destinations experienced more modest paces of growth.

Fluorspar Imports

Imports into India

In 2021, after two years of decline, there was significant growth in supplies from abroad of fluorspar, when their volume increased by 38% to X tons. In general, imports posted a buoyant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 101%. Imports peaked in 2021 and are likely to see steady growth in years to come.

In value terms, fluorspar imports skyrocketed to $X in 2021. Over the period under review, imports recorded a strong increase. The pace of growth appeared the most rapid in 2014 when imports increased by 80% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, South Africa (X tons) constituted the largest supplier of fluorspar to India, with a 73% share of total imports. Moreover, fluorspar imports from South Africa exceeded the figures recorded by the second-largest supplier, Thailand (X tons), ninefold. Vietnam (X tons) ranked third in terms of total imports with a 4.2% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from South Africa totaled +44.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+12.7% per year) and Vietnam (+72.6% per year).

In value terms, South Africa ($X) constituted the largest supplier of fluorspar to India, comprising 69% of total imports. The second position in the ranking was taken by Thailand ($X), with a 6.7% share of total imports. It was followed by Vietnam, with a 5.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from South Africa amounted to +40.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+13.9% per year) and Vietnam (+90.8% per year).

Import Prices by Country

The average fluorspar import price stood at $X per ton in 2021, with a decrease of -8.7% against the previous year. Overall, the import price showed a pronounced contraction. The pace of growth was the most pronounced in 2018 when the average import price increased by 41%. Over the period under review, average import prices hit record highs 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 supplying countries. In 2021, the country with the highest price was China ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Vietnam (+10.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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