Dublin, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The "Magnesite Global Market Report 2023" report has been added to ResearchAndMarkets.com's offering.
The global magnesite market is expected to witness steady growth over the forecast period. The market is projected to grow from $11.7 billion in 2022 to $12.2 billion in 2023 at a Compound Annual Growth Rate (CAGR) of 4.3%. Furthermore, it is estimated to reach $15.2 billion in 2027 at a CAGR of 5.6%.
Factors Driving Growth
The growth in the magnesite market is primarily driven by the increasing demand for mining. Mining has been a major contributor to Australia's economy, accounting for almost 10% of the total GDP, as reported by the International Trade Administration. Moreover, the global production of minerals like potash and bauxite saw a growth of over 5% compared to the previous year, according to the British Geological Survey.
Additionally, the use of renewable energy has been adopted by magnesite companies to reduce energy consumption and control emissions in mines. The integration of solar or wind projects close to mine sites has reduced the cost of connecting to the power grid. The adoption of site-appropriate renewable energy sources has proven to be reliable, consistent, and economical, emerging as a major trend in the magnesite market.
Market Overview
Asia-Pacific was the largest market in the magnesite market in 2021. The regions covered in the magnesite market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Major Players
Some of the major players in the magnesite market include Calix Inc., Housing Group, Queensland Magnesia Ltd., Magnezit Group, and Grecian Magnesite S.A.
Conclusion
The magnesite market is expected to experience steady growth driven by the rising demand for mining and the adoption of renewable energy solutions in mining operations. Asia-Pacific holds a significant position in the market, and key players continue to play a crucial role in shaping the market's trajectory. As the market expands, these developments are likely to influence the dynamics of the magnesite industry in the coming years.
Key Topics Covered
1. Executive Summary
2. Report Structure
3. Magnesite Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Magnesite Market Product Analysis
4.1. Leading Products/Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Magnesite Market Supply Chain
5.1. Supply Chain
5.2. Distribution
5.3. End Customers
6. Magnesite Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Magnesite Market Trends And Strategies
8. Magnesite Market Size And Growth
8.1. Market Size
8.2. Historic Market Growth, Value ($ Billion)
8.2.1. Drivers Of The Market
8.2.2. Restraints On The Market
8.3. Forecast Market Growth, Value ($ Billion)
8.3.1. Drivers Of The Market
8.3.2. Restraints On The Market
9. Magnesite Market Regional Analysis
9.1. Global Magnesite Market, 2022, By Region, Value ($ Billion)
9.2. Global Magnesite Market, 2017-2022, 2022-2027F, 2032F, Historic And Forecast, By Region
9.3. Global Magnesite Market, Growth And Market Share Comparison, By Region
10. Magnesite Market Segmentation
10.1. Global Magnesite Market, Segmentation By Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion)
10.1.1. Magnesite Ore
10.1.2. Dead-Burned Magnesia
10.1.3. Fused Magnesia
10.1.4. Others - Magnesite
10.2. Global Magnesite Market, Segmentation By Mining Type, 2017-2022, 2022-2027F, 2032F, Value ($ Billion)
10.2.1. Underground Mining
10.2.2. Surface Mining
11. Magnesite Market Metrics
11.1. Magnesite Market Size, Percentage Of GDP, 2017-2022, 2022-2027F, 2032F, Global
11.2. Per Capita Average Magnesite Market Expenditure, 2017-2022, 2022-2027F, 2032F, Global
A selection of companies mentioned in this report includes:
- Calix Inc.
- Houying Group
- Queensland Magnesia Ltd.
- Magnezit Group
- Grecian Magnesite SA
For more information about this report visit https://www.researchandmarkets.com/r/r9wros
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