(MENAFN- America News Hour)
“The market for cryolite is expected to grow at a CAGR more than 4% globally during the forecast period. Cryolite is an inorganic compound with the formula Na3AlF3. Cryolite is generally manufactured from aluminum oxide, sodium hydroxide, and hydrofluoric acid or their equivalent reagent — hexafluorosilicic acid. Cryolite is a fluxing agent with a very low melting point. In large amounts, cryolite can become volatile in the presence of silica and can cause blistering. Owing to the versatile and favorable chemical properties of cryolite, its application in aluminum smelting and abrasive production segment is rising at a rapid pace, consequently propelling the market growth.
However, the health hazard related to cryolite like it causes damage to organs through prolonged exposure is likely to hinder the expansion of the studied market. Moreover, sudden halt in production due unfavorable conditions arising from the COVID-19 outbreak is is expected to hamper the demand during the forecast period.
Asia-Pacific region dominates the market across the world with the escalatingconsumption of cryolite from countries, such as China and India.
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Key Market Trends
Aluminum Smelting to Dominate the Market
– Aluminum smelting segment stands to be the dominating segment owing to large scale consumption of cryolite as a flux in the production of aluminum.
– Increasing demand for aluminum in automotive industry for manufacturing lightweight, high strength and fuel-efficient vehicles is expected to drive the demand over the forecast period.
– Demand of cryolite is anticipated to grow as it is widely used for the extraction of aluminum which finds application in various industries such as automotive, aerospace, packaging, consumer goods, electrical goods, building and construction, machinery and equipments among others.
– Asia-Pacific countries like China and India have been registering the strong growth in the utilization of aluminum aluminum smelting. China is the single largest aluminum producer in Asian region and across the globe. The demand for the cryolite market is projected to increase from this region in the forecast period.
Asia-Pacific Region to Dominate the Market
– Asia-Pacific region stands to be the largest and fastest growing market for cryolite. Factors, such as increasing consumption in various end-user industries primarily aluminum industry will drive the market growth.
– Beneficial attributes of aluminum such as better inherent strength, thermal conductivity, and corrosion resistance due to which aluminum products are broadly used in the transportation industry. Thus the demand for aluminum augments the market growth for cryolite.
– China, being the single largest producer of aluminum is expected to drive the demand for cryolite in the region.
– Cryolite is used as a coloring agent and opacifier in end-use industries such as pyrotechnic, glass, ceramics and enamel production is likely to drive the market growth.
– Various applications of cryolite such as the production of abrasives, welding agents, soldering agents, blasting, glazing frits and glass and pyrotechnics and it also finds applications in metal surface treatment and as a component in pickling pastes for stainless steel.
– Asian region which is considered as the industrial hub across the globe is leading producer of abrasives, glass and ceramics. These established industries are expected to contribute to the demand for cryolite during the forecast period.
– Hence, all such market trends are expected to drive the demand for cryolite market in the region during the forecast period.
The global cryolite market is fragmented with the presence of a few large-sized players and a large number of small players operating. Some of the major companies are Solvay, Dupré Minerals Limited, Fluorsid S.p.A., S.B.Chemicals and Purex Global amongst others.
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1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1.1 Rising Demand for Aluminium Smelting and Abrasive Production
4.1.2 Other Drivers
4.2.1 Health Hazard related to Cryolite
4.2.2 Unfavorable Conditions Arising Due to COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1.1 Aluminum Smelting
5.1.2 Abrasive Production
5.1.3 Metal Surface treatment
5.1.4 Enamel and Glass Frits
5.1.5 Welding Agent
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.2.2 North America
220.127.116.11 United States
18.104.22.168 United Kingdom
22.214.171.124 Rest of Europe
5.2.4 South America
126.96.36.199 Rest of South America
5.2.5 Middle-East and Africa
188.8.131.52 Saudi Arabia
184.108.40.206 South Africa
220.127.116.11 Rest of Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Do Fluoride Chemicals Co., Ltd.
6.4.2 Dupre Minerals Limited
6.4.3 Fluorsid S.p.A.
6.4.4 Harshil Industries.
6.4.5 Purex Global
6.4.7 Sanyo Corporation of America
6.4.8 Skyline Chemical Corporation
6.4.10 Xinhai Chemicals Co.
6.4.11 Yuzhou Deyi Chemical Co.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Technological Advancement in Application of Aluminum
7.2 Other Opportunities”
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