Fluorspar market in Asia

Earlier Report Observations

Between 2018 and 2021, the Asian fluorspar market expanded from 4.2 million tons to over 6 million tons. This sustained growth was primarily driven by robust demand from downstream sectors, particularly refrigerants and fluoropolymers, as well as emerging applications in new energy materials like lithium hexafluorophosphate for batteries. Concurrently, tightening mine safety and environmental regulations constrained domestic supply, pushing prices upward and accelerating industry consolidation as smaller operators exited the market.

Market volume peaked in 2021 before contracting to 5.7 million tons in 2022. This decline coincided with extensive domestic mine safety inspections and resource restructuring, which curtailed local production. Although imports rose to partially offset the shortfall, overall consumption fell. The market remained tight thereafter, with prices hitting multi-year highs in 2023 amid strong refrigerant demand. In 2024, increased supply from mine upgrades and new capacity began to ease the deficit, while a moderation in refrigerant demand growth introduced new market dynamics.

Throughout the period, major industry players such as Jinshi Resource actively expanded capacity and secured overseas mining assets, for example in Mongolia, underscoring fluorspar's strategic role as a critical raw material for high-tech industries.

Production fluorspar in Asia

In kind, 2017-2020, K t

Top producers of fluorspar, 2017-2020

World map of production of fluorspar, 2017-2020

Fluorspar production in Asia has increased for the third consecutive year. In 2020, Asia produced 5 989 K t of fluorspar, marking a 22.6% increase compared to 2019. From 2017 to 2020, production grew by 42.4%, which translates to an annualized growth rate of 12.5%.

Annual dynamics of production in Asia in kind, 2017-2020, K t

Exports fluorspar from Asia

Exports in kind, K t

In 2020, fluorspar exports from Asia reached 1 298 K t, showing a significant increase of 20.7% compared to 2019. Over the period from 2017 to 2020, exports rose by 84.4%, with a compound annual growth rate (CAGR) of 22.6%. The largest decline occurred in 2019, at 7.2%, while the largest increase was recorded in 2018, at 64.6%.

Annual dynamics of product's exports from Asia in kind, 2017-2020, K t

From 2017 to 2020, the geographical structure of fluorspar exports in kind was highly diversified. Russia accounted for 17.3% of exports, the Netherlands for 4.5%, and the United States for 3.1%, together making up only 24.9% of total flows. The remaining 75.1% was distributed among numerous smaller partner countries.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Asia in kind, 2017-2020

Exports in value, M $ US

The market experienced noticeable fluctuations during this period. Export volumes reached their minimum in 2017 and peaked in 2019, with a 1.9-fold difference between these years. In 2020, Asia's fluorspar export value amounted to 318.6 M $ US, reflecting a 29.0% decrease compared to 2019. The maximum value was recorded in 2019 at 449.0 M $ US, while the largest increase occurred in 2018, at 74.6%.

Annual dynamics of product's exports from Asia in value, 2017-2020, M $ US

From 2017 to 2020, fluorspar exports from Asia in value terms were widely dispersed across partner countries. Russia represented 15.3% of exports, the United States 6.3%, and the Netherlands 6.0%, together accounting for only 27.6% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Asia in value, 2017-2020

Imports fluorspar to Asia

Imports in kind, K t

The market showed volatility during these years. Import volumes fell to their lowest point in 2017 and peaked in 2020, with a 2-fold difference between these extremes. In 2020, fluorspar imports to Asia stood at 778 K t, showing a moderate increase of 8.9% compared to the prior year. The largest decline was recorded in 2019, at 3.2%, while the largest increase occurred in 2018, at 94.3%.

Annual dynamics of product's imports to Asia in kind, 2017-2020, K t

The structure of fluorspar imports in kind from 2017 to 2020 can be described as diversified. Mexico accounted for 14.3% of imports, Italy for 4.2%, and South Africa for 4.1%, together making up just 22.6% of total flows, with no single country holding a clearly dominant position.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Asia in kind, 2017-2020

Imports in value, M $ US

The market exhibited an unstable trend throughout this timeframe. Import values reached their minimum in 2017 and peaked in 2019, with a 2-fold variation between these years. In 2020, fluorspar imports to Asia totaled 250.6 M $ US, down by 12.2% compared to 2019. The maximum value was recorded in 2019 at 285.5 M $ US, while the largest increase occurred in 2018, at 89.4%.

Annual dynamics of product's imports to Asia in value, 2017-2020, M $ US

From 2017 to 2020, fluorspar imports to Asia in value terms were widely dispersed across partner countries. Mexico represented 18.5% of imports, South Africa 4.5%, and Italy 1.3%, together accounting for only 24.4% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Asia in value, 2017-2020