New York, United States , Dec. 08, 2023 (GLOBE NEWSWIRE) -- The Global Dolomite Market Size is to grow from USD 1.92 Billion in 2022 to USD 3.90 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.34% during the projected period.
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A translucent anhydrous carbonate mineral with high levels of magnesium, calcium, and magnesium is called dolomite. It is commonly found with deposits of limestone and has a pale or light brown hue. It is a very common mineral that is used extensively in a variety of industries. Dolomite is a non-metallic, flexible material that can be used to manufacture ceramics, composite materials, glass, and refractory materials. It is also employed in environmental protection, energy conservation, and chemical synthesis. Additionally, powdered materials are an important raw material in the production of ceramics utilized in steel goods. The use of dolomite mineral powder as a filler in a range of sectors is propelling the dolomite market forward. Dolomite market demand is increasing as coal mining technology increases, resulting in multiple methods of crystal dolomite extraction. The Dolomites, which are utilized to make ceramics and glass, have seen market expansion due to shifting interior design tastes. They have a secondary market in agriculture, where they are used to reduce soil acidity and as soil conditioners in horticulture, which increases market demand for dolomites and adds to future market growth.
COVID 19 Impact
The COVID-19 pandemic had minor effect on product demand. The market encountered production and supply chain difficulties during the early phases due to lockdowns and limitations. Decreased construction activity and industrial shutdowns also had an impact on the use of dolomite in many sectors. However, with various government-initiated stimulus packages and infrastructure projects assisting in the recovery of the economy, dolomite use in the building and steel industries has increased. During the pandemic, there was a greater emphasis on sustainable agriculture and food security, which influenced the demand for dolomite in the agriculture sector.
Browse key industry insights spread across 200 pages with 150 market data tables and figures & charts from the report on "Global Dolomite Market Size, Share, and COVID-19 Impact Analysis, By Product (Agglomerated, Calcined, and Sintered), By Application (Construction, Agriculture, Ceramics and Glass, Iron and Steel, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The calcined segment dominates the market with the largest revenue share over the forecast period
Based on the product, the global Dolomite market is segmented into agglomerated, calcined, and sintered. Among these, the calcined segment is dominating the market with the largest revenue share over the forecast period. Calcined dolomite is utilized in a range of applications, including scorifiers and refractory lining protectors in the iron and steel industry, agricultural soil conditioners, and water treatment in the environmental sector. Calcined dolomite is used in the steel industry to remove silica and other impurities such as sulfur from steel during the melting process. High-quality steel is necessary to ensure that no undesired materials remain and that the furnace liner lasts as long as possible.
The sintered segment is expected to register the fastest growth rate across the forecast period. Sintered is a major market product known for its high heat resistance. It is used to make bricks for the LD converter's lining. Because it is created by burning raw dolomite at extremely high temperatures to make it thick and water-resistant, this product is also known as dead-burned dolomite.
The iron and steel segment is witnessing significant CAGR growth over the forecast period.
On the basis of application, the global dolomite market is segmented into construction, agriculture, ceramics and glass, iron and steel, and others. Among these, the iron and steel segment is witnessing significant growth over the forecast period. The element is utilized as a refractory material in steelmaking processes such as converter lining, opening hearth furnaces, and electric furnace walls. Dolomite, furthermore to its fluxing and sintering capabilities, is a natural source of magnesium oxide (MgO). Magnesium oxide is used in the manufacture of refractory bricks, which are used to line high-temperature furnaces.
The construction segment is expected to register the fastest growth rate across the forecast period. Because of its high density and surface hardness, dolomite is used as a construction aggregate. Countries throughout the world are investing in infrastructure like as roads, motorways, and airports, which is expected to fuel product demand during the forecast period.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific dominates the market with the largest market share over the forecast period. During the forecast period, owing to expanding construction, the healthcare sector, and so on in major countries such as China, India, Japan, and so on. China hosts a vast construction sector, and developments in the infrastructure and residential sectors in the past few years have supported the growth of the construction sector at large, both in terms of volume and value. Due to increased demand from the technology, e-commerce, and banking-financial services industries, office space requirements are fast expanding, resulting in the building of new offices in the region.
North America is expected to grow the fastest during the forecast period. Dolomite consumption has increased in North America because of increased steel manufacturing and a focus on sustainable agricultural practices. Furthermore, the presence of significant rivals, as well as ongoing technological advances in dolomite mining and processing, would aid in the expansion of the regional market.
The Middle East & Africa market is expected to register a substantial growth rate during the forecast period. Increased government and private sector investments in industries such as tourism, construction, manufacturing, and food and beverages can be attributed to the boom. As a result of sustained fast industrialization and urbanization, countries in the region are rapidly developing.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global dolomite market are Lhoist, Omya AG, RHI Magnesita, Sibelco, VARDAR DOLOMITE, Calcinor, CHARMEUSE, Essel Mining & Industries Limited (EMIL), JFE Mineral & Alloy Company, Ltd., Minerals Technologies Inc., Imerys S.A. Beihai Group and Others.
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Recent Market Developments
In January 2023, Jinan New Emei Industries Co. Ltd., a Chinese refractory manufacturer, was acquired by RHI Magnesita for a majority stake. As a result of the acquisition, RHI Magnesita will be able to expand its product range in steel flow control refractories and provide extra manufacturing capacity to increase refractory supply in China and the wider East Asia region.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the global dolomite market based on the below-mentioned segments:
Dolomite Market, Product Analysis
- Agglomerated
- Calcined
- Sintered
Dolomite Market, Application Analysis
- Construction
- Agriculture
- Ceramics and Glass
- Iron and Steel
- Others
Dolomite Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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