DOLOMITE MARKET ANALYSIS

The Global Dolomite Market is projected to reach around US$ 4,337.1 Millions by the end of 2030, in terms of revenue, growing at a CAGR of 5.0% during the forecast period (2023-2030).

Global Dolomite Market: Growth Drivers

• One of the key factors expected to stimulate market growth during the forecast period is the multiple applications of dolomite in various industries. Dolomite is widely used in the building & construction industry. Aggregates made up of industry-waste dolomite are characterized by very high compression strength and resistance against abrasion and other mechanical impacts. Dolomite aggregates must meet a variety of criteria and requirements, depending on their intended application, to ensure the long life of building structures built on aggregate foundations and to assure their safe use.
• Limestone and dolomite are also used as fluxes in the smelting of metalliferous ores. They combine with impurities in the ores such as silica and alumina to form a fluid slag that can be separated from the metals. Dolomite is also used as a flux in the blast furnace for the production of pig iron from iron ore. Increasing demand for iron, especially in the construction sector, is expected to influence the global dolomite market growth.
• Among regions, Asia Pacific held the dominant position in the global dolomite market in 2020, accounting for 40% market revenue share, followed by North America and Europe. According to a report by Multidisciplinary Digital Publishing Institute (MDPI) published in February 2021, mineral nutrients are essential for adequate growth, productivity, and health of all food-producing animals. Magnesium is considered one of the seven macro minerals that are essential in farm animal diets. Dolomite is the best source of magnesium and calcium used for animal feed, Dolomite is the best source of magnesium and calcium for animal feed, and the performance and efficacy of modern high-producing farm animals, as measured by feed conversion rate (FCR, kg feed per kg of animal product), has increased dramatically in recent decades, possibly contributing to changes in nutritional requirements of food-producing animals.

Global Dolomite Market: Restraints

High-grade phosphate reserves have begun to diminish worldwide, and consequently, low-grade phosphate rock is now being explored as a potential fertilizer. Low-grade fertilizer is becoming popular in the agriculture sector because of its cost-effectiveness and high availability, which is hampering the dolomite demand in the fertilizer industry. Another constraint to the dolomite market is that it must be activated during the fertilizer manufacturing process, which increases the amount of phosphorous and activates some heavy metals. Metals such as Cd, Cr, Cu, Pb, and Zn are active during the activation process. Impurities present in dolomite fertilizers such as lead (Pb) and arsenic cause several problems for humans after the consumption of arsenic- and lead-rich foods. Long-term exposure to arsenic from drinking water and food can cause cancer and skin lesions. It has also been associated with cardiovascular disease and diabetes. Short-term exposure to lead causes vomiting, diarrhea, headache, stomach ache, and fatigue. Long-term side effects could be learning disabilities, hyperactive disorder, and several neurological disorders. Such side effects could be the major restraints for the dolomite market.

Figure 1. Global Dolomite Market Share (%) in terms of Value, By Region, in 2022

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Market Opportunity:

Dolomite market research offers in-depth assessment of current and emerging opportunities in various parts of the world the report's analyst’s focus directly on key proportions and sizes, in the local market. It also provides insight into how market investors take advantage of opportunities, in emerging markets around the world. Moreover, the regulatory landscape will shape the dynamics. The Dolomite market is also analyzed in detail in the report. Analysts highlight the growth momentum of emerging markets. Sales potential in these regions is driven by growing demand across a wide range of end uses industrial sectors. The Asia-Pacific dolomite market has experienced a tremendous boom over the past decade. Chemists involved in regional markets rely on improved dolomite yields. Extensive investigations were conducted in both cases. Areas related to dolomite's catalytic function in various applications 

Market Trends

• Dolomite is very important in the oil & gas and biofuel industries to control density and refine biofuels. According to the press release, biofuel is facing a 3% rise in its demand worldwide. Dolomite consists of 50% of carbonate rocks and significantly holds volumes of oil and gas in the world. In a study on different chemical compositions of carbonate material conducted at the Department of Petroleum Engineering at Texas A&M University in June 2021, Variations in the chemical composition of dolomite and calcite minerals were used to demonstrate that a one-size-fits-all approach to well stimulation in carbonate reservoirs does not always work. These formations can be found all over the globe, the research has attracted the attention of several major oil and gas companies that want to collaborate and improve well-stimulation operations. This research will help the extraction process of oil and gas from the reservoirs and improve the productivity of the oil and gas reservoirs. Due to its various applications, the dolomite market is growing rapidly.
• Steel demand in numerous end use applications is predicted to increase during the forecast period, allowing it to maintain its dominance. Dolomite is used as a refractory material in steelmaking converter lining, opening hearth furnaces, and electric furnace walls. The growing demand for refractory materials pushed market players to increase their manufacturing capacity. China has become the second-largest producer of magnesium after the U.S. market. Magnesium has applications in aircraft, missiles, and components of laptops and televisions. Dolomite contains 13% of magnesium and 23% of magnesium oxide. The increasing demand for magnesium is profiting the dolomite market.

Covid-19 Impact

Dolomite is used as a raw material for various industries such as glass, ceramic, cement, ferroalloys, and fertilizers. A major part of dolomite comes from the mining industry; however, the Covid-19 pandemic has led to the collapse of production lines of mining companies. The pandemic also affected the construction industry worldwide. Other industries such as cement and fertilizers also faced downward growth. The glass and ceramic industries are the two main end users of dolomite, which contribute to the construction sector. The slowdown in the construction and cement industry during the pandemic affected the global dolomite market growth.

Global Dolomite Market: Recent Developments

• In January 2023: RHI Magnesita announced the acquisition of a majority stake in Jinan New Emei Industries Co. Ltd., a Chinese refractory manufacturer. The acquisition will allow RHI Magnesita to expand its product line in steel flow control refractories and provide extra manufacturing capacity to increase refractory supply in China and the wider East Asia area.
• In May 2022, Omya, based in Switzerland, acquired the distributor Prima Inter-Chem in Malaysia and Indonesia. Omya boosts and develops its ingredient and specialty chemicals distribution in these countries for the food, pharmaceutical, animal feed, and industrial markets. Omya is a global producer of industrial minerals mainly derived from calcium carbonate, dolomite, and perlite and a worldwide distributor of specialty chemicals.
• In April 2022, Backtrace Holdings Ltd – a world leader in Productizing Science is excited to announce the launch of Particle Works, a spin-out of Dolomite Microfluidics. The official launch of this new brand took place at the LNP Formulation and Process Development Summit in Boston, MA, from the 12th to the 14th of April 2022.

Figure 2. Global Dolomite Market Share (%) in terms of Value, By End Use, in 2022

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Asia Pacific region held a dominant position in the global Dolomite market in 2020, accounting for a 40% share in terms of volume, followed by North America and Europe, respectively.  

Global Dolomite Market: By End Use

On the basis of End Use in 2022, the End Use segment has accounted for the largest market share of 59% in terms of value.

Global Dolomite Market: Key Companies

Key Companies 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.

*Definition: Dolomite is a type of limestone, a type of sedimentary rock that contains a high percentage of the mineral dolomite. Calcium magnesium carbonate along with calcite and aragonite dolomite makes up approximately 2% of the earth’s crust. Dolomite crystals are colorless, white, buff-colored, pinkish, or bluish. Granular dolomite is a light to dark gray, tan, or white granular dolomite found in rocks. Dolomite crystals are translucent or nearly opaque, whereas dolomite grains in rocks are translucent or nearly opaque. Dolomite occurs widely as the major constituent of dolostone and dolomite marble. Dolomite-rich rocks in marine sequences originate from petrogenesis (formation of rocks, ingenious rocks). Dolomite is used to make refractory bricks because it contains magnesium metal and magnesia (MgO). Dolostone is often used for limestone in cement and bitumen mixes, as well as a flux in blast furnaces.