MAGNESITE MARKET ANALYSIS

Market Challenges And Opportunities

Market Dynamics

• A major driver for the global magnesite market growth is increasing growth in the construction sector. According to Global Construction Perspectives and Oxford Economics, in 2015, the global construction market is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion and increasing by an average annual rate of 3.9% to 2030. Rising construction sector demands cement and other construction materials such as magnesite, which is contributing towards the global magnesite market growth.
• Stingent environmental and government regulations implemented to reduce environmental pollution arising from steel production is a major challenge faced by magnesite manufacturers as it is one of the important refractory material. This is a major a restraint for global magnesite market growth. For instance, ‘Air and Leaching Pollution Scenario by Iron and Steel Plants, in central India’ research paper stated that, In India iron and steel industries are, among the 17 most polluting industrial sectors, identified by the Central Pollution Control Board (CPCB).