The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Dolomite Market.
It was estimated prior to this unanticipated outbreak that the Dolomite Market was expected to grow at a CAGR of 3.5% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
Dolomite stands for calcium magnesium carbonate CaMg(CO3)2. It is a type of rock forming mineral and good source of magnesium oxide.
Dolomites are of different types, such as agglomerates, calcined, and sintered, that are used in various end-use, such as construction, iron & steel.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
Based on the end-use type, the market is segmented as construction, and iron & steel. The iron & steel segment held the largest share of the market in 2019, and is expected to remain dominant during the forecast period. The wide use of dolomite as a refractory material in steel making, converter lining, opening hearth furnace, and electric furnace wall is driving the growth of this segment.
Based on the product type, the market is segmented as agglomerates, calcined, and sintered. The calcined segment dominates the market, as it plays an essential role in iron and steel industry for refractory lining protectors and scorifier. Further, it is use as soil conditioner and in water treatment in agricultural work. All this wide application of calcined propelling the growth during the forecast period.
In terms of regions, Asia-Pacific is estimated to be the largest as well as fastest growing dolomite market during the forecast period, with China, and, India being the major countries with lucrative growth opportunities. The growth of the market is driven by the growth of various end-use industries, such as construction and agriculture, which is generating huge demand for dolomites and the presence of a large number of dolomite manufacturers in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities during the forecast period.
Some of the major Dolomite manufacturers are-