Global Dolomite Powder Market Highlights over 2022 – 2031
The global dolomite powder market is estimated to grow at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. Dolomite powder is derived from the dolomite mineral, which is formed under low oxygen conditions. This powder is extensively used as a soil fertilizer, and concrete aggregate. Further, dolomite is also used as a substitute for limestone. The growth of the market can be attributed to the growing application of dolomite powder in the construction and agriculture industries. Dolomite powder serves as an excellent fertilizer for the soil, as it maintains the magnesium level of the soil. Moreover, dolomite powder is essential for manufacturing steel and cement. As a result, the growing demand for steel is estimated to boost the market growth. For instance, global crude steel production reached approximately 1,850 million metric tons in 2020, whereas, the total production of cement globally amounted to around 4 billion metric tons in the same year. Furthermore, dolomite powder is also used as a plastic filler to improve hardness, heat resistance, and electrical insulation of the material. Such diverse application of dolomite powder is estimated to boost the market growth.
The market is segmented by application into steel making, cement industry, agriculture, glass, ceramic, rubber, and others, out of which, the agriculture segment is anticipated to hold a substantial share in the global dolomite powder market over the forecast period on account of increasing usage of dolomite to improve soil fertility. Dolomite powder is rich in magnesium, which is why, it is used to adjust magnesium deficiency in the soil, and reduce soil acidity. CLICK TO DOWNLOAD SAMPLE REPORT
Major Macro-Economic Indicators Impacting the Market Growth
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
Global Dolomite Powder Market Regional Synopsis
On the basis of geographical analysis, the global dolomite powder market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in Asia Pacific region is estimated to witness modest growth over the forecast period on the back of growing mining activities in the region, along with rapid growth in the construction industry. For instance, the total mining products extraction amounted to approximately 10 billion metric tons in 2017.
The market in the North America region is anticipated to gain the largest market share throughout the forecast period owing to the growing steel manufacturing industry in the region. Moreover, the substantial development in the mining activities over the years is also estimated to impact the market growth. In 2017, around 2 billion tons of mining product was excavated in the North America region.
The global dolomite powder market is further classified on the basis of region as follows:
North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
Our in-depth analysis of the global dolomite powder market includes the following segments:
Top Featured Companies Dominating the Market
FREQUENTLY ASKED QUESTIONS
Increasing application of dolomite powder in the construction industry is estimated to boost the market growth.
The market is anticipated to attain a CAGR of ~4% over the forecast period, i.e., 2022 – 2031.
The major players in the market are SCR-Sibelco NV, Imerys S.A., Minerals Technologies Inc., Omya AG, Carmeuse, Arihant Min chem, Nordkalk Corporation, Longcliffe Quarries Ltd., and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by type, application, and by region.
The agriculture segment is anticipated to hold largest market over the forecast period and display significant growth opportunities.
Health issues caused by lead present in dolomite dust is estimated to hamper the market growth.
The Asia Pacific region is anticipated to provide more business opportunities over the forecast period owing to the increasing mining activities in the region.
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