Fluorspar Growth Accelerated by Increased Usage in Steel and Aluminum Production

Fluorspar is a mineral compound of calcium fluoride which is used as a flux in metal refining and in the manufacture of hydrofluoric acid and cryolite, which are important industrial and commercial chemicals. Fluorspar is a significant raw material used in various industrial applications including steelmaking, aluminum smelting, uranium enrichment and many more owing to its versatile properties. The increasing usage of fluorspar as a fluxing agent in steel and aluminum production is driving the demand of this market. The global Fluorspar Market is estimated to be valued at US$ 2.2 Bn in 2023 and is expected to exhibit a CAGR of 4.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increased usage of fluorspar in steel and aluminum production is one of the major trends fueling the growth of this market. Fluorspar is primarily used as a flux which lowers the melting point of materials in steel making...