Dolomite Market Size to Reach $28.56 Bn by 2028 | The Insight Partners
Dolomite Market Size is expected to grow at a CAGR of 3.7% from 2021 to 2028
Pune, India, Nov. 09, 2023 (GLOBE NEWSWIRE) — According to our new research study on “Dolomite Market to 2028 – Global Analysis and Forecast – by End-Use Industry, and Geography,” the market is projected to grow from $ 21.73 Billion in 2020 to $ 28.56 Billion by 2028; it is expected to grow at a CAGR of 3.7% during 2021–2028.
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Dolomite Market Analysis: Competitive Landscape and Key Developments
Calcinor, JFE GROUP, LHOIST GROUP, Sibelco, and RHI Magnesita GmbH are a few of the companies amongst the major players operating in the dolomite mining market. These market players are highly focused on developing high-quality and innovative products to fulfill the customer’s requirements. For instance, in 2020, CALCINOR announced the investment in the continuity and sustainability of the companies in the group.
Dolomite Market Report Scope, Segmentations, Regional & Country Scope:
|Market Size Value in||US$ 21.73 Billion in 2020|
|Market Size Value by||US$ 28.56 Billion by 2028|
|Growth rate||CAGR of 3.7% from 2021-2028|
|No. of Pages||126|
|No. of Tables||29|
|No. of Charts & Figures||62|
|Historical data available||Yes|
|Segments covered||End-Use Industry|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
Dolomite is an anhydrous and translucent carbonate mineral that is rich in calcium and magnesium. It is widely used refractories, and as an aggregate in construction industry especially for road infrastructure
Dolomite also finds application in various end-use industries, such as iron and steel, ceramics and glass, agriculture, and many other industries. With the growth of these industries, the demand for dolomite is expected to increase during the forecast period. The dolomite market is segmented by end-use industry, and geography.
Wide Range of Dolomite Applications and Lucrative Opportunities In Untapped Market Segments And Countries
Dolomite has a wide scope of applications in end-user industries such as construction, iron and steel, ferroalloys, ceramics and glass, agriculture, and animal feed. Its preference and adoption in industries depends on the grade of the rock. Dolomite is a commonly used substance in the construction industry because of its hardness and density. It is used in the manufacturing of bricks, cement, concrete, paving materials, etc. In the iron and steel industry, dolomite is used in three forms—raw dolomite, calcined dolomite, and sintered dolomite. In the iron and steel industry, it is mainly used as a fluxing material for the protection of refractory lining, and as a refractory raw material. Raw dolomite or calcined dolomite is used as a fluxing material.
The developing countries offer a huge potential for dolomite manufactures, with the rise investments and government support for infrastructure development. Brazil is the second-largest producer of ceramic tiles, as per the National Association of the Ceramic Industry. Brazil is also the second-largest consumer market in the world. Moreover, the construction sector is a core component of the Vision 2030 program of Saudi Arabia’s economy. The growth of these industries provides potential opportunities for the growth of the dolomite mining market in the coming years
Dolomite Market: Segmental Overview
Dolomite is generally used as soil fertilizer and enhances the soil structure. It is primarily used in the agriculture sector to enhance the pH level of acidic soil and provide excellent nourishment to plants. Dolomite is usually added to growing medium in order to increase pH to the range of 5.5-6.5 and to provide plants with magnesium and calcium required for healthy growth of plants. Besides, dolomite gradually dissolves in the growing medium over time, assisting to neutralize the acidifying effects some fertilizers. Also, dolomite is beneficial as a soil conditioner owing to its high alkaline character and it improves CH4 uptake in acidic soils. Utilizing finely-ground dolomite, in order to alter the soil from acidic to almost neutral benefits crops by improving availability of plant nutrients, lessening manganese or aluminum toxicity. Thus, the growing use of dolomite for improving the soil structure and healthy growth of plants is anticipated to drive the agriculture segment growth during the forecast period.
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Impact of COVID-19 Pandemic on Dolomite Market
The ongoing pandemic has drastically altered the status of the chemical and materials sector and negatively impacted the growth of the dolomite mining market. The implementation of measures to combat the spread of the virus has aggravated the situation and has impacted the growth of several industrial sectors. Industries such as construction, iron and steel, etc. have been impacted by the sudden distortion in operational efficiencies and disruptions in the value chains attributable to the sudden closure of national and international boundaries. The significant decline in the growth of the several industrial sectors significantly impacted the demand for dolomite in the global market. Many mining companies have been hit hard by the lockdown to slow the spread of the coronavirus. The shutdown of mining operations has created a negative impact on annual production. The long- term effects of COVID-19 pandemic on mining industry will depend upon how long lockdown periods will go on and how quickly the market will recover. However, as the economies are planning to revive their operations, the demand for dolomite is expected to rise globally. Players are focusing on both supplies and manpower are available to achieve full operational levels and continue to increase their productivity. The expanding demand for dolomite in various industries such as construction, iron and steel, ceramics and glass along with significant investments by prominent manufacturers is expected to drive the growth for dolomite mining.
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