Fluorspar MarketSize and Trends

The global fluorspar market is valued at 2.2 Billion in 2022 and is expected to reach at 3 Billion by 2030. The market is expected to grow at a CAGR of greater than 4.6% during the forecast period 2023-2030.

Market Trends

An increasing number of people are using smartphones.

The increasing number of smartphone users is expected to be a major trend in the market. As of December 2021, the number of smartphone users in the world was 6.64 billion, which translates to 83.96% of the world’s population owning a smartphone. In total, the number of people who own a mobile phone is 7.26 billion, making up 91.69% of the world’s population.

The growing penetration of electric vehicles is also projected to foster market growth. According to the International Energy Agency, in 2030, global electric vehicle sales are expected to reach 23 million as per the New Policies Scenario (excluding two-and three-wheelers). In the EV30@30 scenario, in 2030, around 70% of the vehicle sales in China are likely to be EVs. Also, it is estimated that the global market share of EVs will reach 30% (245 million vehicles) by 2030.

Fluorspar Market Report Snapshots