Dolomite Market Analysis | 2023-2028

Market Insights

The dolomite market was estimated at USD 2.5 billion in 2022 and is likely to grow at a CAGR of 3.79% during 2023-2028 to reach USD 3.12 billion in 2028.

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Market Dynamics

Introduction

Dolomite stands for calcium magnesium carbonate CaMg (CO3)2. It is a type of rock-forming mineral and a good source of magnesium oxide. Dolomite exhibits properties like high refractoriness, enhanced thermodynamic stability, etc., and hence it is widely used in the construction industry, iron & steel smelting, etc. Dolomites are of different types, such as agglomerates, calcined, sintered, and more.

Market Drivers

The global market for dolomites is influenced by numerous factors, including

• Construction and infrastructure demand: Dolomite is widely used in the construction industry as a filler for concrete that adds strength and durability to it. The global construction industry is rapidly growing. According to Oxford Economics, the construction work across the globe which accounted for US$9.7 trillion in 2022 is estimated to cross US$13 trillion by 2037. The demand coming from the increasing construction sector is likely to boost the global dolomite market in the future.
• Increasing Cement Production: The rapidly increasing construction industry is propelling the demand for cement production too. Since cement is a mixture of calcium, silicon, and aluminum oxides and dolomite is a good source of calcium carbonate, which is one of the main ingredients in cement, the growing demand for dolomite is driven by the growing requirement for cement.

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• Rapid advancements for dolomite extraction: The advancements in dolomite extraction are driving the demand for dolomites rapidly. New methods are being developed to extract dolomite from ore. The use of hydrometallurgical techniques is becoming more common. These techniques use water and chemicals to dissolve dolomite, which makes it easier to extract.
• Rising Demand in Agriculture and Horticulture:  Dolomite is used in agriculture as a liming agent. A liming agent is a material that is added to soil to increase its pH. The increasing awareness about soil health and the requirement for improved agricultural production thereby contributes to the growth of the dolomite market.
• Expansion of the Magnesium Production Industry: Magnesium is a vital component for a wide range of industries like automotive, aerospace, electronics, and more. According to studies, every 100 grams of dolomite has ~30 to 40 grams of magnesium, making it a significant source of magnesium. The growing demand for magnesium in various industries is, hence, fuelling the demand for dolomite.

Segments Analysis

By End-Use Type

Based on the end-use type, the market is segmented as construction, and iron & steel. The iron & steel segment held the largest share of the market in 2022 and is expected to remain dominant during the forecast period. The wide use of dolomite as a refractory material in steel making, converter lining, opening hearth furnaces, and electric furnace walls is driving the growth of this segment.

By Product Type

Based on the product type, the market is segmented as agglomerates, calcined, and sintered. The calcined segment dominates the market, as it plays an essential role in the iron and steel industry for refractory lining protectors and scorifiers. Further, it is used as a soil conditioner and in water treatment in agricultural work. All this wide application of calcined propels the growth during the forecast period.

Regional Insights

In terms of regions, Asia-Pacific is estimated to be the largest as well as the fastest-growing market during the forecast period, with China and India being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as construction and agriculture, which are generating huge demand for dolomites and the presence of a large number of dolomite manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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Key Players

Some of the major Dolomite manufacturers are:

• Calcinor
• Carmeuse
• Imerys
• Lhoist
• Omya AG
• RHI Magnesita
• Sibelco
• Vardar Dolomite

Note: The above list does not necessarily include all the top players in the market.

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Research Methodology

• This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s dolomite market realities and future market possibilities for the forecast period.
• The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market.
• The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate growth strategies to expedite their growth process.
• This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.
• More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data.
• We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis.
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Market trend and forecast analysis.
• Market segment trend and forecast.
• Competitive landscape and dynamics: Market share, Service portfolio, New Product Launches, etc.
• COVID-19 impact and its recovery curve
• Attractive market segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

The dolomite market is segmented into the following categories:

By End-Use Type

• Construction
• Iron & Steel

By Product Type

• Agglomerates
• Calcined
• Sintered

By Region

• North America (Country Analysis: the USA, Canada, and Mexico)
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and the Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and the Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the fabric types by end-use industry type.

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances.

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.