Pune, July 09, 2024 (GLOBE NEWSWIRE) -- The Dolomite Market Size is projected to reach USD 3.42 billion by 2032 and grow at a CAGR of 7.61% from 2024-2032. It was valued at USD 1.92 billion in 2023.
The growth of the building industry and the increased demand for iron and steel drive the global dolomite market.
The need for dolomites to manufacture has increased because of the significant rise in the construction and infrastructure sectors worldwide in recent years. And key players prefer to use dolomite to create cement because it reduces waste output and carbon emissions. This lowers production costs overall and aids businesses in reaching their environmental objectives.
For example, China's cement output has expanded dramatically over the past ten years, which has raised demand for dolomite. In the upcoming years, it is expected that the rate of dolomite consumption will increase due to the overall increase in cement output.
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Market Players Covered in this Report:
- Calcinor
- CARMEUSE
- Essel Mining & Industries Limited (EMIL)
- Imersys S.A.
- JFE Mineral & Alloy Company, Ltd.
- Lhoist
- Omya AG
- RHI Magnesita
- Sibelco
- VARDAR DOLOMITE
Moreover, the EU invested USD 1,700 million in the building industry, up 4.3% from the previous year, according to the German Economic Institute. Germany invests 51 percent of its total capital in housing. Dolomite demand in the nation is therefore being driven by the growth in construction.
With the increase in the demand for dolomite, many chemical industries were able to expand their customer base and introduce new products with progress made in the mining of dolomite. From the Dalmia Bharat Group, its refractory business unit- Dalmia-OCL, in March 2022 stated that all its domestic businesses would be consolidated into one new integrated entity named Dalmia Bharat Refractores Ltd.
There will be several challenges associated with this, i.e., due to the rise of alternative materials. Despite these challenges, SNS Insider forecasts the growth of the market because of the rising investments and the plans to improve the overall landscape and make it possible for the access element to improve.
“Growing demand for iron & steel industry globally drives the market growth.
Dolomite consumption is predicted to rise in response to increased investment in the construction of new facilities or the expansion of steel production's current manufacturing capacity. Moreover, the rapid infrastructure and industrialization in several emerging economies have boosted steel production driving the need for dolomite. For instance, in 2022 the world crude steel production reached 1,870 million tons reported by the World Steel Association. Hence, rising in the steel production drives the dolomite market growth.
Dolomite Market Report Scope & Overview:
| Report Attributes | Details |
| Market Size in 2023 | USD 1.92 billion |
| Market Size in 2032 | USD 3.42 billion |
| CAGR (2024-2032) | 7.61% |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Market Driver |
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Segmentation Analysis
By Product, calcined dolomite held the highest revenue share in 2023.
In 2023, calcined dolomite led the dolomite market with a revenue share of over 40.12%, driven by its extensive use in the steel industry as a fluxing agent, in construction for refractory bricks, and environmental applications like water treatment. Its versatile industrial applications and growing demand in agriculture for soil health further contributed to its market dominance.
By End-Use, the iron & steel segment led the market in 2023.
Iron & steel dominated the market with the highest revenue share of more than 61.56% in 2023. Dolomite consumption is predicted to rise in response to increased investment or the expansion of steel production's current manufacturing capacity. For example, the Indian state government announced in July 2022 that the state will be launching twelve new steel projects.
Regional Landscape:
North America led the dolomite market with the highest revenue share of more than 38% in 2023. The booming building industry in the region is partly responsible for this lead. For instance, over the past ten years, large cities have proliferated in Canada, where over fifty new giant buildings have graced the country's skylines. More than 6,000 expressway and highway infrastructure projects are driving the expansion of buildings in the area. As a result, dolomite is a crucial component of building materials and is in great demand.
The fastest-growing region for future growth is Asia Pacific. The demand for dolomite is anticipated to expand quickly in this competitive market. For example, a significant cooperation between SteelAsia and China BaoWu Steel Group to establish a nearly USD 2 billion steel production facility was established in the Philippines in January 2023.
Recent Developments
- In January 2023 New Emei Industries Co. Ltd., has been acquired by RHI Magnesita for the majority of its shares. RHI Magnesita will be able to increase the scope of its steel flow control refractory product line.
- In March 2023, Refractarios Kelsen S.A. has expanded its business by established new fired brick facility in Aduna. This expansion helps to increase its production in more countries.
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Key Takeaways:
- The Dolomite Market size will increase due to the growing application in building and construction, iron & steel and others.
- Key players are implementing market development strategies, mostly targeting the developing economies of the APAC region.
- Key players have taken initiatives to invested more in production plant will have a major impact on overall market growth.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
4.1 Drivers
4.2 Restraints
4.3 Opportunities
4.4 Challenges
5. Porter’s 5 Forces Model
6. Pest Analysis
7. Dolomite Market Segmentation, By Product
7.1 Introduction
7.2 Calcined Dolomite
7.3 Agglomerated Dolomite
7.4 Sintered Dolomite
8. Dolomite Market Segmentation, By End-Use
8.1 Introduction
8.2 Iron & Steel
8.3 Construction
8.4 Glass & Ceramics
8.5 Water Treatment
8.6 Agriculture
8.7 Others
9. Regional Analysis
10. Company Profiles
11. Competitive Landscape
12. Use Case and Best Practices
13. Conclusion
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