Dolomite Powder Market to rise from USD 27.9 Billion in 2023 to USD 38.8 Billion by 2032, with a CAGR of 4.20% from 2023 to 2032 – Report by Market Research Future (MRFR)
Dolomite Powder Market Research Report Information By Type (Calcium Dolomite, Magnesia Dolomite), By Application (Steel-making, Cement Industry, Agriculture, Glass, Ceramic, Rubber, Others) And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032
New York (US), Aug. 03, 2023 (GLOBE NEWSWIRE) -- *Dolomite Powder Market Overview*
According to a Comprehensive Research Report by Market Research Future (MRFR), *“*Dolomite Powder Market* Information by Type, Application, and Region - Forecast till 2032"*, With a CAGR of 4.20% over the projection period (2023-2032), the dolomite powder market will rise from USD 27.9 billion in 2023 to USD 38.8 billion by 2032.
*Market Synopsis*
Anhydrous carbonate mineral dolomite powder contains calcium magnesium carbonate. This powder is employed in a variety of processes, including the production of steel, cement, agricultural products, ceramics, glass, rubber, and mining. According to a report by the World Steel Association, steel production increased in 2019 from 1,681.2 million tonnes in 2018 to 1,657.9 million tons. The main driver of dolomite powder use is anticipated to be this rise in steel production. Dolomite is furthermore utilized in place of limestone in applications that call for both calcium and magnesium minerals. The market is anticipated to grow over the forecast period as a result of the rising use of this powder in such a wide range of applications. During the projection period for the dolomite powder market, it is anticipated that the market for this product will expand as a result of the creation of such new applications.
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Market Competitive Landscape:*
The key dolomite powder manufacturers in the market include
· Sibelco (Belgium)
· Minerals Technologies Inc. (U.S.)
· Imerys S.A. (France)
· Beihai Group (China)
· Arihant MinChem (India)
· Omya Group (Switzerland)
· Lhoist Group (Belgium)
· Carmeuse (Belgium)
· Nordkalk Corporation (Finland)
· Longcliffe Quarries Ltd. (U.K.)
· Among others.
*Report Scope:*
*Report Attribute* *Details*
Market Size in 2032 USD 38.8 Billion
CAGR 4.20% (2023-2032)
Base Year 2022
Forecast Period 2023-2032
Historical Data 2018- 2022
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered Type, Application, and Region
Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
Key Market Drivers Increase in health difficulties and worries, leading in costly operations
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Market USP Covered:*
*Market Drivers:*
During the projected period, business opportunities for the market will be stimulated by the booming steel and iron sector. Dolomite is used to remove impurities from slag during the manufacturing of steel. Additionally, open-hearth steel furnace refractory linings made of dolomite powder are used. The market will benefit greatly from the rising demand for dolomite in mini-steel plants for fettling and refractory applications. The market is anticipated to quickly expand thanks to increased steel production and consumption.
98% of the raw materials needed to produce crude steel are transformed into goods and byproducts, according to the World Steel Association. Zero waste is the industry's objective. The market will likely see sales opportunities as a result of the increased focus on recycling steel. However, if more construction projects are undertaken, the demand for steel will also rise. This would be positive for the market.
Market expansion is also fuelled by the expanded use of dolomite powder in other industries including residential and commercial construction. For instance, it has been discovered that substituting dolomite powder for cement increases concrete's strength. The highest improvement in the 28th-day compression and flexural strength was found to be 10.4% and 17.8%, respectively, at this replacement level. The ideal replacement percentage of cement with dolomite powder is found to be 10%.
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Market Restraints:*
Lead impurities in dolomite minerals may persist in the powder after processing. Such powder might contaminate the environment and poison people and animals with lead if it is added to fertilizers and animal feed. Short-term side effects of lead exposure include fatigue, nausea, diarrhea, headaches, and stomach aches. Learning deficiencies, attention deficit disorder, hyperactivity, antisocial behavior, and neurological issues are additional long-term negative effects. This means that the adverse effects from exposure to tainted dolomite dust serve as the main barrier to its adoption.
*COVID 19 Analysis*
Dolomite is extensively used in the glass, cement, ceramic, and steel industries. Due to manufacturing activity constraints brought on by the announcement of a lockdown in many major economies, the pandemic has had an impact on the market's expansion for industries that use the powder in the creation of various end goods. For instance, a decline in market growth has been caused by China, which is both a significant manufacturer of steel and the coronavirus's epicenter. Reduced revenue is a result of restrictions on the import and export of raw materials used in the production of steel, such as industrial dolomite. Additionally, the slowdown in the cement and construction industries brought on by the virus's spread has impeded the expansion of the global market.
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Market Segmentation*
*By Type*
Magnesium dolomite and calcium dolomite are two types of dolomites that are included in the market segmentation for dolomite powder. The most money was made in the calcium dolomite group. The powder is primarily used in steel-making applications as a slag flux during the manufacturing of steel and iron alloys. The increased use of steel in industries like buildings and vehicles would increase demand for dolomite.
*By Application *
Steel, cement, agriculture, glass, ceramics, rubber, and other materials are among the top applications for dolomite powder. The steel category led the market, accounting for 65.45% of market sales. This is because the kind is used more frequently in the manufacture of steel. The expanding usage of calcium dolomite in goods including cement, concrete, mortars, refractories, and rubber is another element driving up market demand.
*Regional Insights*
Since 2022, the Asia-Pacific market has held the top spot with the highest share of 45.70%. This is due to the expansion of the metal, building, and construction industries in countries like China and India. The demand for it has increased as a result of its use in the manufacture of steel and cement. The use of dolomite in animal feed also contributes to the market's value in the Asia Pacific region. While India's market will have the quickest increase over the coming years, China now holds the region's largest market share.
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