Global Dolomite Market Size, Share And Forecast To 2030

(MENAFN- Straits Research) Introduction

Dolomite is an anhydrous carbonate mineral that is formed of calcium magnesium carbonate and has the chemical formula CaMg (CO3)2. It has a high concentration of calcium carbonate as well as magnesium. It is a component that may be found in rocks. Sedimentary and metamorphic rocks make up most of its composition. Because of its brittle and compact character, it finds widespread use in the building industry. Because dolomite possesses characteristics such as strong refractoriness and higher thermodynamic stability, it is possible to employ it in the production of refractive furnaces. It is anticipated that increase in the number of applications in horticulture, particle detectors, magnesium oxide, and iron smelting would drive the expansion of the market.

Market Dynamics The market will be driven by rising demand from the construction industry

The mineral powder made from dolomite is making significant inroads into the market share of the building sector. It is utilised in the manufacturing of steel, which is one of the most important components of buildings, as well as cement. It is calcined to make cement, in addition to having a role as an aggregate in the creation of concrete. According to the Cement Manufacturers Association, the global consumption of cement was over 4,000 Mn Tons in 2017. Dolomite, which is a significant component in the manufacturing of cement, is gaining enormous traction in markets throughout the world as a result of this.

The primary application for dolomite in the production of steel and iron is as a slag flux, which helps remove impurities from the raw materials. After going through the calcination process, the powder is put to use as refractory lining for open-hearth steel furnaces. In addition, mini-steel mills require this product in order to fulfil their fettling and refractory needs. According to an analysis conducted by the International Stainless-Steel Forum, China will maintain its position as the leader in both the production and consumption of steel. Currently, China is responsible for around 51 percent of the production of stainless steel.

Regional Overview of Dolomite Market

In 2019, Asia Pacific owned the greatest share of the market, which was over 38 percent. The rising output of refractories is helping to drive up product demand in the region within the iron and steel sector.

When compared to other nations, China, which is a significant user of dolomite, is picking up the pace with which it is resuming its activities.

In addition, there has been a growing emphasis on expanding production of glass for the purpose of providing the pharmaceuticals sector for the covid-19 vaccine, which is predicted to drive demand for the product.

Because of the high levels of production of refractories, cement, and glass in the area, North America held the second-highest revenue share in 2019. Because of the region's importance to the refractory industry, major companies in the industry are implementing tactical strategies in an effort to bolster their standing in the regional market.

Key Highlights

• The global market for dolomite market size was valued at USD 2.28 billion in 2019 and is expected to reach USD 12.27 billion in 2030 growing at a compound annual growth rate (CAGR) of 3.85% from 2020 to 2027.
• The market will be driven by rising demand from the construction industry.
• Rising Steel Industry Demand Will Support Market Growth.
• Iron and steel were the most important end-use industry in 2019, accounting for more than 62 percent of the total market share. It is anticipated that it will continue to hold the lead for the duration of the projected period as a result of the growing demand for steel in a variety of end-use applications.
• A further important sector of the market, glass and ceramics, is predicted to have a compound annual growth rate (CAGR) of 4.4 percent in terms of sales over the course of the forecast year.
• In 2019, the calcined product sector was the most important one, accounting for more than 39 percent of the total. Calcination is the process that transforms minerals like calcium carbonate and magnesium into calcined dolomite.
• Another important sub-category of sintered dolomite products on the market is sintered dolomite. This material is essential for the production of bricks used in the LD converter liner because of the high refractoriness it possesses.
• Over the course of the time covered by this prediction, it is projected that growing investments in the steel sector would be lucrative for product demand.
• In 2019, Asia Pacific owned the greatest share of the market, which was over 38 percent.