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Fluorite pellets are also called fluorite briquette and its chemical formula is CaF2. It is available in the form of acid and metallurgical grade. It is majorly used as a flux for reducing the melting point of difficult-melted substance. By accelerating the flow of slags, it also aids to separate the metal and slag. Furthermore, the fluorite pellets offer high-temperature strength, good water tightness, cracking resistance, purity, precise composition, and provide longer shelf life. These properties of fluorite pellets make it superior to fluorite raw ore. The fluorite pellets finds its application in the iron and steel industry and medicines.
The fluorite pellets market is growing at a rapid pace owing to rising its demand in the iron and steel industry. The fluorite pellets act as a fluxing agent and slag-removal agent for the production of iron, steel, and alloy. It is utilized in the basic oxygen, open-hearth, and electric furnace processes and also in steel foundries. The characteristics of fluorites pellets include dephosphorization, desulfurization, high tensile strength, and metal’s forgeablity, which further enhances the malleability and uplift strength of the metal. Hence, rising use of fluorite pellets in the steel and iron industry will fuel the growth of the market during the forecast.
However, many consumers are not aware of the use and benefits of fluorite pellets. This reduces the adoption of fluorite pellets and cause low acceptability. Hence, this is anticipated to restrict market growth.
Key Market Driver -
Rising demand for fluorite pellets in the steel application to drive the market growth
Key Market Restraint -
Low awareness of the fluorite pellets to restrict the market growth
Based on grade, the fluorite pellets market is segmented into acid grade fluorite pellets and metallurgical grade fluorite pellets. Based on application, the market is segmented into iron & steel industry, medicine, and others. From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
The key players in the fluorite pellets market includes SR Group, MaxTon Industrial Co., Ltd., ZY mining, Yingda Mining (Ningbo) Co., Ltd, Shree Ram Lime Products Pvt, Zhengzhou Zhongzhou Briquette Machinery Plant, Zhengzhou Dayang Briquette Machinery Co.,Ltd, Metal B2B, Shree Bajrang Sales Ltd., Reverso Technologies Inc., and Bright Industry Development Co., Ltd
Asia Pacific is anticipated to witness sustainable growth in the fluorite pellets market during the forecast period. The growth is attributed to the rising demand for fluorite pellets in the production of stainless steel. This rising product demand in the medicine application will fuel the market in Europe. In which UK and Germany are the leading countries. The market in North America will grow due to the rising adoption of the product for the production of iron. The Middle East & Africa is anticipated to witness signification growth, owing to the increasing adoption of metallurgy grade in the steel making.
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