Market Size of Cryolite Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 4.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cryolite Market Analysis
The market for cryolite is expected to register 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 low melting point. In large amounts, cryolite can become volatile in the presence of silica. Furthermore, it can cause blistering. Owing to the versatile and favorable chemical properties of cryolite, its applications in aluminum smelting and the abrasive production segment are rising at a rapid pace, consequently propelling the market growth.
However, the health hazards related to cryolite, such as damage to organs through prolonged exposure, are likely to hinder the expansion of the market studied. Moreover, sudden halt in production due unfavorable conditions arising from the COVID-19 outbreak is expected to hamper the demand during the forecast period.
The Asia-Pacific region is expected to dominate the market's growth across the world, mainly due to the increasing consumption of cryolite from countries, such as China and India.
