Industrial Applications Segment Is The Largest Segment Driving The Growth Of Dolomite Market
SWOT Analysis
Strengths: Abundant reserves of dolomite around the world, especially in countries like India and Ukraine. Dolomite possesses characteristics like high strength and thermal stability making it suitable substitute for limestone.
Weaknesses: Transportation of dolomite over long distances leads to increased costs. Uses substitutable by other minerals in some applications.
Opportunities: Growing construction sector in developing economies favors dolomite consumption. Increasing utilization in horticulture and agriculture to improve soil fertility.
Threats: Stringent environment regulations regarding mining activities. Threat from substitutes like limestone and marble in certain applications.
Key Takeaways
The Global Dolomite Market Demand size was valued at USD 3088.79 Mn in 2023 and is expected to grow at a CAGR of 5.0% during 2023-2030. The Asia Pacific region dominates the market currently owing to large production and consumption in China and India. The regional market is estimated to witness fastest growth on account of rising construction activities and expanding agriculture sector in the region.
Some of the major players operating in the dolomite market include Imerys S.A., Sibelco, RHI Magnesita, Omya Group, JFE minerals, Varbar dolomite, Lhoist Group, Arij Global Trading, Nordkalk Corporation, Beihei Group, Arihant Minchem, and Carmeuse. Imerys and Sibelco dominate the global production landscape. These players are focusing on strategic collaborations and capacity expansions to strengthen their positions in the market.
Regional analysis: The Asia Pacific dolomite market is projected to exhibit significant growth over the forecast period led by countries such as China, India and Indonesia. China dominates the global dolomite production and is a major exporter while India is the leading consumer of dolomite driven by expanding construction and infrastructural development.
Read More - https://uncoveredresearchtrends.blogspot.com/2023/11/industrial-applications-segment-is.html
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