The global Dolomite Market is estimated to be valued at US$ 3088.79 Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Dolomite is a carbonate mineral composed of calcium magnesium carbonate. It is used as a construction aggregate, as an ingredient in agricultural ameliorants, as a flux in metal smelting, and as an industrial mineral. As a construction aggregate, dolomite is useful for road base and railroad ballast applications due to its high resistance to weathering. As an agricultural product, dolomite neutralizes acidity in soils. In metal smelting industries, dolomite is used as a flux as it has an excellent furnace life. It is also used as a refractory material. Growing infrastructure development is expected to drive the demand for dolomite as a construction aggregate over the forecast period.
Market key trends:
One of the key trends in the dolomite market is growing demand from the construction industry. Rapid urbanization and infrastructure development activities in emerging economies such as India, China, Indonesia, and others are driving the demand for dolomite as an aggregrate in construction applications such as road construction, landfill and reclamation. According to the Global Infrastructure Hub, total global infrastructure investment needs are estimated to be around US$ 94 trillion by 2040. This rising investment in infrastructure development is expected to propel the demand for dolomite over the forecast period. Another key trend is increasing usage of dolomite as an agricultural soil conditioner. Dolomite neutralizes acidic soil conditions and provides magnesium to crops. The growing emphasis on improving soil quality and agricultural yields is favoring the adoption of dolomite as an agricultural amendment.
Porter's Analysis
Threat of new entrants: The dolomite market has moderate barriers to entry due to the requirement of large capital investments for mining operations.
Bargaining power of buyers: The bargaining power of buyers is moderate as dolomite has no substitutes in certain applications like steelmaking.
Bargaining power of suppliers: The bargaining power of suppliers is high due to the consolidated nature of suppliers and scarcity of high-grade dolomite reserves globally.
Threat of new substitutes: There is low threat from substitutes as dolomite has critical applications where there are limited alternatives.
Competitive rivalry: The competitive rivalry in the dolomite market is high due to the presence of few global players operating worldwide.
Key Takeaways
The Global Dolomite Market Size is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing infrastructure development and growth in steel and glass industries. The Asia Pacific region is expected to dominate the global dolomite market during the forecast period due to high economic growth and increasing industrial activities in countries such as China and India.
The dolomite market in Asia Pacific is expected to grow at the fastest rate due to massive infrastructure development activities and growing steel and glass industries especially in China and India. The thriving construction sector along with increasing steel production is driving the demand for dolomite in the region.
Key players operating in the dolomite market are Imerys S.A., Sibelco, RHI Magnesita, Omya Group, JFE minerals, Varbar dolomite, Lhoist Group, Arij Global Trading, Nordkalk Corporation, Beihei Group, Arihant Minchem, and Carmeuse. Imerys S.A. is one of the leading players in the global dolomite market, offering a complete range of crushed dolomite for various applications.
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