Global Fluorspar Market 2024

Fluorspar Market Size

In 2021, after three years of growth, there was decline in the global fluorspar market, when its value decreased by -4.8% to $X. Over the period under review, the total consumption indicated notable growth from 2012 to 2021: its value increased at an average annual rate of +3.2% 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 +68.1% against 2017 indices. Global consumption peaked at $X in 2020, and then dropped modestly in the following year.

Fluorspar Production

In value terms, fluorspar production contracted to $X in 2021 estimated in export price. In general, production saw a tangible increase. The pace of growth was the most pronounced in 2018 when the production volume increased by 72%. Global production peaked at $X in 2020, and then declined in the following year.

Fluorspar Exports

Exports

After four years of growth, overseas shipments of fluorspar decreased by -0.2% to X tons in 2021. Overall, exports saw a noticeable reduction. The growth pace was the most rapid in 2018 with an increase of 35%. Over the period under review, the global exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, fluorspar exports totaled $X in 2021. Over the period under review, exports showed a mild curtailment. The pace of growth was the most pronounced in 2018 with an increase of 77% against the previous year. Over the period under review, the global exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Mongolia (X tons) represented the major exporter of fluorspar, constituting 30% of total exports. It was distantly followed by Mexico (X tons), China (X tons), South Africa (X tons), Vietnam (X tons), the Netherlands (X tons) and Italy (X tons), together creating a 48% share of total exports. Pakistan (X tons), Namibia (X tons), the United States (X tons), Germany (X tons) and Morocco (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%), the Netherlands (+22.6%), Italy (+17.6%), Vietnam (+16.1%), the United States (+6.0%) and Germany (+3.1%) displayed positive paces of growth. Moreover, Pakistan emerged as the fastest-growing exporter exported in the world, with a CAGR of +22.9% from 2012-2021. South Africa experienced a relatively flat trend pattern. By contrast, Namibia (-3.3%), Morocco (-3.7%), China (-7.6%) and Mexico (-12.4%) illustrated a downward trend over the same period. While the share of Mongolia (+14 p.p.), the Netherlands (+4.8 p.p.), Vietnam (+4.4 p.p.), Italy (+4.3 p.p.) and Pakistan (+2.9 p.p.) increased significantly in terms of the global exports from 2012-2021, the share of China (-6.1 p.p.) and Mexico (-21.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mongolia ($X), Mexico ($X) and China ($X) were the countries with the highest levels of exports in 2021, together accounting for 50% of global exports. These countries were followed by Vietnam, South Africa, the Netherlands, Namibia, Germany, Pakistan, Morocco, the United States and Italy, which together accounted for a further 41%.

Pakistan, with a CAGR of +24.4%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average fluorspar export price stood at $X per ton in 2021, leveling off at the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 31% against the previous year. The global export price peaked at $X per ton in 2019; however, from 2020 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 ($X per ton), while Italy ($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 (+4.6%), while the other global leaders experienced more modest paces of growth.

Fluorspar Imports

Imports

In 2021, the amount of fluorspar imported worldwide expanded markedly to X tons, picking up by 8.4% compared with the previous year's figure. The total import volume increased at an average annual rate of +1.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 with an increase of 26%. Over the period under review, global imports reached the peak figure in 2021 and are likely to continue growth in years to come.

In value terms, fluorspar imports expanded markedly to $X in 2021. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 with an increase of 48% against the previous year. Global imports peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons), distantly followed by the United States (X tons), India (X tons), Italy (X tons), Russia (X tons), Germany (X tons) and Turkey (X tons) represented the main importers of fluorspar, together creating 69% of total imports. Canada (X tons), the Netherlands (X tons), South Korea (X tons), Indonesia (X tons), Japan (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Indonesia (with a CAGR of +40.9%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($X), China ($X) and India ($X) constituted the countries with the highest levels of imports in 2021, with a combined 37% share of global imports. These countries were followed by Italy, Germany, Russia, Indonesia, Japan, the Netherlands, Turkey, the United Arab Emirates, South Korea and Canada, which together accounted for a further 45%.

In terms of the main importing countries, Indonesia, with a CAGR of +42.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

The average fluorspar import price stood at $X per ton in 2021, picking up by 2.8% against the previous year. Overall, the import price, however, recorded a mild decline. The pace of growth was the most pronounced in 2018 an increase of 17%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat 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 ($X per ton), while Canada ($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 global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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