Dolomite Market Insights:

The dolomite market was estimated at USD 2.4 billion in 2021 and is likely to grow at a CAGR of 3.76% during 2022-2028 to reach USD 3.12 billion in 2028.

Market Dynamics

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.

·       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.

Key Players

Some of the major players in the market are-

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

Market Segmentation:

The report segments based on geographics, demographics, benefits and volume, etc., identify the most attractive segments and sub-segments and have different driving factors. The segmentation mentioned in the report has been arranged in such a way that it can help users to be more efficient in terms of time, investment, and other resources. It also allows businesses to learn more about their target audience so that they can tailor their strategies, and campaigns in increasing their market share and revenue.

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 2021 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.

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 propelling the growth during the forecast period.

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.

Report Customization Options

Stratview Research offers one of the following free customization options to the users along with this detailed report:

Company Profiling

·       Detailed brief of additional market players.

·       SWOT analysis of key players.

·       Competitive Benchmarking

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

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