The dolomite market size has experienced significant growth in recent years, projected to rise from $2.25 billion in 2023 to $2.40 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. This growth during the historic period can be linked to the increased utilization of dolomite in horticulture, heightened investments in mining infrastructure, rising demand for magnesium compounds, a stronger emphasis on eco-friendly farming, and a growing focus on sustainable construction practices. Furthermore, the dolomite market size is anticipated to continue its upward trajectory, expected to reach $3.13 billion in 2028 at a CAGR of 6.9%. Factors contributing to this growth include rising demand in construction, the expansion of steel production, rapid urbanization, increased use of dolomite in glass manufacturing, growing demand in the pharmaceutical sector, and ongoing infrastructure projects. Key trends in this forecast period encompass advancements in mining technology, enhanced processing techniques, innovative dolomite extraction methods, sustainable mining practices, and the introduction of new dolomite products.
Major Driver In The Dolomite Market
The expansion of the construction industry is projected to significantly propel the dolomite market, as this sector involves the planning, design, and execution of building projects across various domains. The growing population, rapid urbanization, infrastructure enhancements, and increased investment in real estate are all contributing factors driving the demand for construction projects, which subsequently leads to a higher consumption of dolomite in applications such as concrete, asphalt, lime production, and building materials. As reported by the Office for National Statistics, the UK's construction output rose by 5.6% in 2022 compared to 2021, following a substantial 12.8% increase in 2021. These statistics underscore the correlation between construction growth and the rising demand for dolomite, with market sizes projected to reach $19.05 billion in 2023, $21.83 billion in 2024, and $26.41 billion by 2028.
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Dolomite Market Competitive Landscape
Major companies operating in the dolomite market are JFE Mineral & Alloy Company Ltd., CEMEX S.A.B. de C.V., Martin Marietta Materials Inc., Imerys S.A., Sibelco NV, Omya Group, RHI Magnesita N.V., Graymont Inc., Carmeuse, Mississippi Lime Company, Nordkalk Corp., Essel Mining & Industries Limited (EMIL), Alpha Chemika, E. Dillon & Company, The Dolomite Group, Linwood Mining and Minerals Corporation, Lhoist SA, Calcinor S.A., Chirag Minerals, Longcliffe Quarries Ltd., Grupo Calidra
Key Dolomite Market Trend
Major companies in the dolomite market are focused on diversifying their product offerings through collaborations to enhance their market presence and address a wider range of consumer needs. Collaborating to expand product offerings is a strategy that involves forming partnerships or alliances with other businesses to broaden a company's range of products or services. For instance, in July 2024, Blastr Green Steel, a Norway-based firm dedicated to producing green steel, partnered with Lhoist Group, a Belgium-based company that manufactures lime, dolomite, and minerals, to provide low-carbon lime and dolime (dolomitic lime) for its upcoming steel plant in Inkoo, Finland. This collaboration aims to significantly reduce Scope 3 emissions in steel production. It focuses on utilizing Lhoist's LEVEL|GREEN products, which could decrease emissions by up to 50 kg of CO2 per tonne of steel produced, assisting Blastr in achieving its ambitious target of 300 kg of CO2 emissions per ton—a 90% reduction compared to conventional methods. The partnership will also deliver technical support for integrating these materials into the production process and explore establishing a terminal for efficient supply logistics, ultimately contributing to Blastr's goal of producing 2.5 million metric tons of ultra-low CO2 steel annually.
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Global Dolomite Market Segmentation
The dolomite market covered in this report is segmented –
1) By Product: Calcined Dolomite, Agglomerated Dolomite, Sintered Dolomite
2) By Crystal Type: Planar-E, Planer-S, Non-Planar
3) By End-User Industry: Agriculture, Ceramics And Glass, Cement, Mining And Metallurgy, Pharmaceuticals, Water Treatment, Other End-User Industries
By Geography:The regions covered in the dolomite market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia-Pacific was the largest region in the dolomite market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Dolomite Global Market Report 2024 furnishes information about the global dolomite market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
