Latest News- Dolomite Market: Calcined is expected to lead the Product segment during 2024-2028

The Dolomite Market is being driven by Increase in prices of construction aggregates

The Dolomite Market is expected to grow at a CAGR of 4.5% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 570.8 million. Refractory materials play a crucial role in steel production, accounting for approximately 2-3% of the total production costs. The steel industry, which represents around 75% of the global refractory demand, remains the primary driver for refractory manufacturers. Despite the ongoing global oversupply and its negative impact on the steel sector, there has been a steady recovery in 2021. Moreover, investments in the steel industry are projected to surge in developing countries, such as India and China, as these regions prioritize self-sufficiency and reduce import reliance. The cement, glass, and non-ferrous metal industries also present opportunities for refractory companies, but the steel sector's significant demand and influence on the market's dynamics cannot be overlooked. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Product
  • Calcined
  • Sintered
  • Agglomerated
• Geography
  • APAC
    • China
    • India
    • Japan
  • North America
    • US
  • Europe
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increase in prices of construction aggregates
• Stringent regulations regarding cement manufacturing
• Uncertain macroeconomic conditions

However, the market also witnesses some limitations, which are as follows:

• Rising demand from cement industry
• Increasing capacity of steel production
• Increased government spending on infrastructure

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Market Scope in Dolomite Market Research Report

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Research Analysis Overview

The Dolomite market encompasses various industries, including steel production, energy, and mining & metallurgy. Dolomite serves as a crucial raw material in steel production, particularly in the form of calcined dolomite for furnace linings and sintered products used as flux in refractories. Additionally, it finds applications in construction, agrochemicals, pharma & healthcare, glass & ceramics, cement, and ceramics sectors. The Carbonate Minerals market, which includes dolomite, experiences significant demand from the Portland cement industry. Fiscal stimulus in infrastructure development further boosts the market growth.

Market Research Overview

The global diversified metals and mining industry encompasses businesses involved in the extraction and production of a range of metals and minerals, including non-ferrous metals such as lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium, as well as salt, borate, phosphate rock, and other diversified mining operations. In the steel sector, dolomite is a crucial raw material used extensively in steel production as a flux and for the manufacture of calcined dolomite, furnace linings, and sintered products. Refractories, another significant application, also utilize dolomite in their production. The North American market for these applications is a significant contributor to the global demand for dolomite.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/