Amid the COVID-19 crisis, the global market for Fluorspar estimated at 5.8 Million Metric Tons in the year 2020, is projected to reach a revised size of 7.1 Million Metric Tons by 2027, growing at a CAGR of 2.9% over the analysis period 2020-2027.
Hydrofluoric Acid Production, one of the segments analyzed in the report, is projected to record a 3.6% CAGR and reach 3.1 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Steel Production segment is readjusted to a revised 2.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at 1.6 Million Metric Tons, While China is Forecast to Grow at 5.4% CAGR
The Fluorspar market in the U.S. is estimated at 1.6 Million Metric Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 1.4 Million Metric Tons by the year 2027 trailing a CAGR of 5.4% over the analysis period 2020 to 2027.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.
