Cryolite Market to Perceive Substantial Growth | 2024
Cryolite
is a mineral, with extremely limited natural occurrence. The mineral
is chemically a double fluoride of aluminum and sodium. Cryolite was
found exclusively in the west coast of Greenland, before getting
exhausted in 1987. The demand for cryolite is now met by producing
synthetic cryolite. Cryolite is one of the most important raw
materials, for the process of extracting aluminum from its ore
(alumina). The characteristics of synthetic cryolite is similar to
that of the natural mineral, but synthetic cryolite often lacks the
amount of sodium fluoride as observed in its natural counterpart.
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Synthetic
cryolite can be obtained in a lot of ways, and the preferred mode of
synthesis is determined by the availability and cost of the raw
materials required. The most common method of synthesizing cryolite
is by the reaction of hydrofluoric acid with alumina hydrate and soda
ash. One of the primary drivers of the synthetic cryolite market is
the tremendous growth in the aluminum market. Aluminum is one metal
which has outpaced all others in its demand growth. Aluminum finds
application in a host of end use industries such as transport,
packaging, consumer goods, electrical goods, building and
construction, machinery and equipments among others. Since cryolite
is the principal material used in the molten electrolyte bath, for
the extraction of aluminum, the growth in the aluminum market
directly results in the growth in cryolite market. The demand for
aluminum is generated mostly from the transport industry and packing
industry.
The
low weight of aluminum is the key bait for most automotive
manufacturers, looking to manufacture low weight cars with high fuel
efficiency. Aluminum is also in the process of gradually replacing
plastics for packaging applications which is expected to drive the
market for cryolite further. Apart from its use in the aluminum
extraction process cryolite is also consumed by the abrasives,
ceramics and glass manufacturing industries albeit in nominal
quantities. It is used as opacifier in glass industry
Cryolite
is added to reduce the melting point of aluminum ore as the melting
point of cryolite is 1009° C. This allows the process to take place
at 920° C to 1000° C. However research is on to find other ways of
extracting aluminum and reduce the temperature requirement. Although
success of such process is indefinite, replacement of cryolite in
aluminum extraction process might be the biggest threat to the market
and might lead to extinction. The fluctuating price of aluminum is
another restraint for the cryolite market as heavy price fluctuations
have the potential to adversely affect the end use industries.
More
than 60 % of the global demand for aluminum is derived from Asia
Pacific with China leading demand with about 45% of the global
demand. Europe and North America account for about 30% of the global
demand cumulatively. The demand for cryolite exhibits a similar
trend. China is the largest producer and consumer of synthetic
cryolite. India and the U.S. also manufacture substantial quantities
of synthetic cryolite.
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This
market is characterized by high degree of competition among
manufacturers, and it is a price sensitive market. Some of the major
players in the synthetic cryolite market are Fluorsid S.p.A,
S.B.Chemicals, Do Fluoride Chemicals Co., Ltd., Yuzhou Deyi Chemical
Co. Ltd, Henan Buckton Industry&Commerce Co., Ltd, Zhengzhou
Flworld Chemical Co., Ltd and Xinhai Chemicals Co., Ltd among many
others.
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