Fluorspar market in South America

Earlier Report Observations

The fluorspar market volume in South America stood at 61 246 t in 2018 but contracted over the next two years, reaching 46 402 t in 2020. Domestic production followed a similar downward path, falling from 36 165 t to 29 530 t over the same period, while imports also declined.

Market conditions shifted in 2021, with consumption rebounding to 58 402 t and edging up to 59 355 t in 2022. This recovery coincided with a global increase in crude steel production, which exceeded 1.89 billion t, boosting demand for fluorspar as a metallurgical flux. Simultaneously, the expanding use of fluorspar in lithium-ion batteries and fluoropolymers for the energy transition provided additional momentum for market growth.

By 2023, regulatory developments further underscored fluorspar's strategic importance: the European Union added it to its list of critical raw materials, and the United States had already designated it a priority mineral in 2022. These moves are likely to stimulate exploration and production investments. Although import volumes into South America decreased in 2023 and 2024, the global demand drivers—such as steelmaking, aluminum production, and clean-energy applications—continued to shape the market's trajectory.

Production fluorspar in South America

In kind, 2017-2020, t

Top producers of fluorspar, 2017-2020

World map of production of fluorspar, 2017-2020

Fluorspar production in South America declined for the third consecutive year. In 2020, production reached 29 530 tonnes, representing a moderate 8.9% decrease compared to 2019. Over the period from 2017 to 2020, production fell by 21.8%, with a compound annual growth rate of -7.9%.

Annual dynamics of production in South America in kind, 2017-2020, t

Exports fluorspar from South America

Exports in kind, t

The market exhibited significant volatility during these years. Exports bottomed out in 2019 at 0.2 tonnes before peaking in 2017, with a 2 718-fold difference between these extremes. In 2020, South America exported 0.2 tonnes of fluorspar, showing a strong 10.4% increase from the previous year. The largest decline occurred in 2019, when exports fell by 99.8%.

Annual dynamics of product's exports from South America in kind, 2017-2020, t

From 2017 to 2020, Spain and Mexico consistently served as the primary export markets in kind, together accounting for 39.5% of total export flows.

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

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

Exports in value, K $ US

The market demonstrated considerable volatility during this period. Export values dropped to their lowest point in 2019 before climbing to their peak in 2017, with a 1 978-fold difference between these years. In 2020, South America exported fluorspar worth 0.1 thousand US dollars, representing a strong 16.0% increase from the previous year. The largest decline occurred in 2019, when export values fell by 99.8%.

Annual dynamics of product's exports from South America in value, 2017-2020, K $ US

Between 2017 and 2020, Spain and Mexico were the two main export destinations in value terms, together accounting for 57.1% of total fluorspar exports from South America.

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

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

Imports fluorspar to South America

Imports in kind, t

Fluorspar deliveries to South America declined for the second consecutive year. In 2020, imports amounted to approximately 16 872 tonnes, reflecting a 29.1% drop compared to the previous year. Over the period from 2017 to 2020, imports decreased by 24.7%, with a compound annual growth rate of -9.0%. The maximum value was recorded in 2018 at 25 159 tonnes, when imports saw their largest increase of 12.2%.

Annual dynamics of product's imports to South America in kind, 2017-2020, t

From 2017 to 2020, virtually all fluorspar imports in kind to South America were associated with Mexico, which accounted for 93.1% of total import flows.

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

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

Imports in value, K $ US

After a two-year rise, South America's fluorspar import volume declined. In 2020, imports totaled 6 484 thousand US dollars, marking a strong 23.4% year-over-year reduction. Between 2017 and 2020, imports decreased by 3.9%, equating to an annualized rate of -1.3%. The maximum value was recorded in 2019 at 8 460 thousand US dollars, while the largest increase occurred in 2018 at 19.9%.

Annual dynamics of product's imports to South America in value, 2017-2020, K $ US

From 2017 to 2020, the geographical pattern of imports in value terms was characterized by a strong dominance of Mexico, which held an 87.4% share of total flows, while other partners accounted for relatively minor shares.

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

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