According to forecasts, the dolomite market size is expected to be US$ 3,567.3 million in 2023 and US$ 5,487.1 million by 2033.
Throughout the projection period, demand for low-carbon steel products is predicted to rise and support market expansion. Government-led fiscal stimulus is the main driver of the nation’s economic development, which boosts investor spending and company confidence. This is expected to result in high regional construction spending, promoting market growth.
For instance, the National Bureau of Statistics (NBS) of China reports that the country’s cement output volume reached almost 2.38 billion metric tonnes in 2021, supporting the market expansion in the area.
Using dolomite as a calcium and magnesium supplement is likely to provide market opportunities for the pharmaceutical sector. The Asia-Pacific region controls the worldwide market thanks to the leading consumption levels in nations like China, India, and Japan.
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Key Takeaways in Dolomite Market
- By 2033, the dolomite market in the United Kingdom is likely to expand, with a CAGR of 3.9%.
- In 2023, the United States is expected to develop the dolomite business with a share of 5.5%.
- The dolomite market grew considerably to US$ 3,417.0 million in 2022.
- The dolomite sector expanded at a CAGR of 3.9% between 2018 and 2022.
- By 2033, China’s dolomite market is projected to generate a CAGR of 5.2%.
- By 2033, India’s dolomite industry is projected to expand with a CAGR of 4.1%.
- Japan’s dolomite sector is likely to grow significantly, with a 7.3% share in 2023.
- Australia’s dolomite is expected to develop with a share of 8.8% in 2023.
- Germany’s dolomite business is expected to grow, with a share of 4.6% in 2023.
- In 2023, based on the product type, sintered dolomite is expected to dominate the market, with a share of 65.7%.
- In 2023, a steel grade segment is expected to dominate the market, with a share of 55.2%, based on grade.
Competitors’ Successful Techniques
In the dolomite industry, there has been an increase in product variety. Several businesses produced value-added goods such as magnesium derivatives, dolomite-based refractories, and agricultural-grade dolomite to meet particular consumer demands.
The dolomite sector displayed a competitive environment, with competitors using various techniques to keep an advantage. Several sectors, including building, agriculture, and steel manufacturing, use dolomite as a mineral.
Recent Development:
- United States Lime & Minerals Inc. purchased Mill Creek Dolomite LLC from Inter-Rock Minerals Inc. in February 2022. Mill Creek largely supplies dolomite goods to niche markets, including glass, roofing materials, and agricultural lime.
- RHI Magnesita stated in January 2023 that it had purchased the bulk of Jinan New Emei Industries Co. Ltd., a Chinese producer of refractories. With the addition of additional manufacturing capacity from the purchase, RHI Magnesita is able to boost the supply of steel flow control refractories throughout China and the rest of East Asia.
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Dolomite Market Key Segments
By Material Type:
- Calcined Dolomite
- Agglomerated Dolomite
- Sintered Dolomite
By End User:
- Cement
- Agrochemicals
- Mining & Metallurgy
- Pharma & Healthcare
- Glass & Ceramics
- Water & Sludge Treatment
- Animal Feed
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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