Dolomite Market Size and Segment By Product (Calcined Dolomite, Agglomerated Dolomite, and Sintered Dolomite), By End-Use (Iron & Steel, Construction, Glass & Ceramics, Water Treatment, Agriculture, Others), And by Regions | Global Market Forecast 2024-2032

Dolomite Market Report Scope & Overview:

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The Dolomite Market Size was valued at USD 1.92 billion in 2023 and is expected to reach USD 3.42 billion by 2032 and grow at a CAGR of 7.61% over the forecast period 2024-2032.

Steel production demand is rising in response to the expanding demand for steel products in end markets such as energy, automotive, and construction, which benefit dolomite demand. The product is a raw material that is utilized in the steel production process. For instance, in the steel industry, calcined dolomite is used as a flux and to protect furnace linings. Additionally, sintered goods are a significant supplier of raw materials for the steel industry's use in the production of refractories.

The U.S.'s fiscal stimulus and normalization of monetary policy had a negative influence on steel output. The nation's industrial and construction industries suffered as a result. It is projected that the construction industry would finally regain its lost impetus in 2023, with a moderate outlook. The U.S. Census Bureau Statistics reported that, in comparison to USD 3,867 million in 2022, overall construction investment in the United States rose by almost 4.3% in the first quarter of 2023 to reach USD 4,033 million.

Moreover, it is projected that during the course of the projection period, the demand for low-carbon steel products will rise and support market expansion. Fiscal stimulus implemented by the government, which raises investor spending and company confidence, is the main driver of the nation's economic growth. High regional building investment is anticipated as a result, supporting market expansion.

Numerous materials, including limestone, gypsum, calcined clay, magnesite, and synthetic fluxes, can be used in place of dolomites in a variety of applications. For example, in the steel business, limestone can occasionally be used in place of the product, especially in situations when the unique qualities of dolomite are not needed. Limestone is also more accessible and has larger deposits, which makes it a more sensible and affordable choice for steelmakers.

Market Dynamics:

Drivers

• The rising construction sector drives the growth of the dolomite market.

Dolomite is one the major parts of the construction industry, it is used as versatile mineral powder which driving market growth. Portland cement concrete, which is used to make buildings, roads, dolomite rock, and other constructions, contains dolomite as an aggregate. Dolomite is frequently utilized in conjunction with bituminous materials for construction projects like highways. One of the biggest users of cement is the construction sector. Worldwide, there is a boom in the expanding commercial and industrial construction activities which drive the dolomite market growth.

According to the Chinese National Bureau of Statistics estimates that the country's building output reached its high in 2022, valued at over USD 4110 billion.

In addition, dolomite in India is growing its business sector. There are numerous ongoing projects throughout the nation. For example, work on the USD 900 million CommerzIII Commercial Office Complex began in 2022 in Mumbai, with a permitted floor area of 2,60,128 square meters to be built as part of the project. The project is anticipated to be finished in 2027, benefiting the researched market concurrently with the projected period.

• The rising steel industry drives the market growth of dolomite market

Restraint

•  Dolomite is a balancing act between growth and environmental concerns.

Dolomite, is a versatile mineral powder, used in the construction industry. Its applications in cement, concrete, and even steel production fuel its demand. However, lead can occur naturally in dolomite and may persist even after processing. The specter of lead poisoning hangs heavy, raising concerns about the safety of using contaminated dolomite in fertilizers or animal feed. The consequences of lead contamination are dire. Polluted soil from lead-laced fertilizers can endanger plant health and potentially contaminate the food chain. For humans and animals, lead exposure can cause a range of acute symptoms like nausea and vomiting, but the long-term effects are even more alarming. Learning disabilities, hyperactivity, and neurological issues can manifest, posing a significant health risk.

Opportunities

• Dolomite powder finds widespread use in agriculture due to its beneficial properties for soil and plant health.

• Rapid advancements in dolomite extraction

Market segmentation

By Product

• Calcined Dolomite

• Agglomerated Dolomite

• Sintered Dolomite

Based on product segment the calcined dolomite held the highest revenue share of more than 40.12% in 2023. This substance is frequently utilized in the production of simple refractories as a refractory material. This type of calcined is beneficial in applications that need toughness and thermal stability since it can endure high temperatures and is resistant to erosion and corrosion.

Dolomite consumption is forecast to rise in response to increased investment in the construction of new facilities or the expansion of steel production's current manufacturing capacity. For example, the Indian state government of Odisha announced in July 2022 that the state will be launching twelve new steel projects.

A popular commodity on the market, sintered materials are highly resistant to heat. Bricks for LD converter lining are made with it. Because raw dolomite is heated to extremely high temperatures to make it thick and resistant to water absorption, this product is also known as dead-burned dolomite.

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By End-use

• Iron & Steel

• Construction

• Glass & Ceramics

• Water Treatment

• Agriculture

• Others

Based on the end-use iron & steel dominated the market with the highest revenue share of more than 61.56% in 2023. In steelmaking operations including converter lining, opening hearth furnaces, and electric furnace walls, the product is used as a refractory material. Dolomite provides magnesium oxide naturally, aside from its fluxing and sintering properties. When making refractory bricks, which are used to line high-temperature furnaces, magnesium oxide is an essential component.

The construction segment is expected to be the fastest-growing segment in the upcoming times. Due to its high density and smooth surface, dolomite is utilized as an aggregate in construction projects. Investments being made by nations all over the world in infrastructure, including roads, highways, and airports, are anticipated to drive up demand for the commodity during the projection period.

Regional Analysis

North America led the dolomite market with the highest revenue share of around. 38% in 2023. The booming building industry in the region is partly responsible for this lead. For instance, over the past ten years, large cities have proliferated in Canada, where over fifty new giants have graced the country's skylines. More than 6,000 expressway and highway infrastructure projects are driving the expansion of buildings in the area. As a result, dolomite is a crucial component of building materials and is in great demand.  

The fastest-growing region for future growth is Asia Pacific. The demand for dolomite is anticipated to expand quickly in this competitive market. the swift growth of steel plants around the area. For example, a significant cooperation between SteelAsia and China BaoWu Steel Group to establish a nearly USD 2 billion steel production facility was established in the Philippines in January 2023.

REGIONAL COVERAGE:

North America

• US

• Canada

• Mexico

Europe

• Eastern Europe

  • Poland

  • Romania

  • Hungary

  • Turkey

  • Rest of Eastern Europe

• Western Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Netherlands

  • Switzerland

  • Austria

  • Rest of Western Europe

Asia Pacific

• China

• India

• Japan

• South Korea

• Vietnam

• Singapore

• Australia

• Rest of Asia Pacific

Middle East & Africa

• Middle East

  • UAE

  • Egypt

  • Saudi Arabia

  • Qatar

  • Rest of Middle East

• Africa

  • Nigeria

  • South Africa

  • Rest of Africa

Latin America

• Brazil

• Argentina

• Colombia

• Rest of Latin America   

Key Players:

Some of the major players in the Dolomite Market  are Calcinor, CARMEUSE, Essel Mining & Industries Limited (EMIL), Imersys S.A., JFE Mineral & Alloy Company, Ltd., Lhoist, Omya AG, RHI Magnesita, Sibelco, VARDAR DOLOMITE, and other players.

Calcinor - Company Financial Analysis

RECENT DEVELOPMENT

• January 2023 the Chinese producer of refractory, Jinan New Emei Industries Co. Ltd., has been acquired by RHI Magnesita for the majority of its shares. RHI Magnesita will be able to increase the scope of its steel flow control refractory product line. Additionally, it will add to the manufacturing capacity, boosting the supply of refractory in China and the rest of East Asia.

• In June 2022, RHI Magnesita has installed a new and innovative two-stage crushing system in U.S. industrial site in York, Pennsylvania which mines dolomite for the production of refractory materials

• In April 2022, Backtrace Holdings Ltd has launched a particle works, a spin out of dolomite microfluidics. This new launch helped the company to increase its dolomite product segment and generate more revenue in the market.