Global increase in aluminum demand from key end-use industries such as automobile and packaging is expected to drive cryolite market growth over the next seven years. This market is expected to witness significant growth rates owing to increasing aluminum application scope in end-use industries.
Asia Pacific dominated the regional market with over 60% of the total aluminum demand in 2014. China emerged as the leading country from Asia Pacific with over 40% of the global aluminum demand. Cryolite industry growth is directly dependent on the increasing aluminum demand. Key regions such as North America and Europe are expected to witness average growth rates over the forecast period.
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Increasing aluminum demand from automobile for manufacturing lightweight and fuel-efficient vehicles is expected to drive the demand over the forecast period. Reduction in vehicle body weight by 10% can improve the fuel efficiency by 6–8%. Replacing traditional sheet components and cast iron with lightweight materials, such as aluminum can, vehicles can mount, advance emission control equipment, safety devices, and electronic systems.
Globally, aluminum content in light commercial vehicles is expected to reach over 17 million tons in future, which is anticipated to be the most important part of the market demand.
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Increasing use of fillers in synthetic resins for abrasives manufacturing is expected to drive the demand over the forecast period. This is the second largest application for the industry and is expected to witness moderate growth rates over the forecast period. It is also used as a binding agent for grinding or cutting discs.
Cryolite is used as a coloring agent and opacifier in end-use industries such as pyrotechnic, glass, and ceramics. It is also used as an opacifier in enamel production. The application as coloring agent and opacifier amounts to a limited usage in these industries.
High melting point cryolite temperature results the aluminum extraction process to be carried out at temperatures ranging from 900 to 1000º C. This factor is expected to hinder industry participant’s growth as researchers are finding alternate methods to extract aluminum at lower temperature gradients.
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