Dolomite Mining Market Segments, End Use, Opportunity, Challenges & Industry Growth Forecast Report
The global dolomite mining market size is projected to reach USD 2.33 billion by 2027, expanding at a CAGR of 3.8% from 2020 to 2027, according to a new report by Grand View Research, Inc. Rising government and private spending in development of transport infrastructure in emerging economies of Asia Pacific is the major factor driving the industry.
Dolomitic rock, also known as dolostone, is sized and crushed before its use as a base material construction of road. It is also used in cement manufacturing. Furthermore, it is used in the steel industry as a fluxing material or as a refractory raw material. Besides the aforementioned applications, the product is used in many other applications, including ceramics and glass, paper, and animal feed.
Technological advancements in mining, coupled with increasing logistical efficiency, have played a key role in facilitating increasing profit margins for miners. This is expected to positively impact the market growth over the coming years. The COVID-19 pandemic is predicted to negatively affect the industry growth in short term owing to restricted demand caused by halt in construction activities.
North America dominated the market in 2019. Asia Pacific is estimated to expand at the fastest CAGR from 2020 to 2027. U.S. leads the globe in terms of dolomite production. Furthermore, in U.S., dolomite is among the most preferred construction aggregate materials. In Asia Pacific, China and India are likely to be the most lucrative destinations for industry growth owing to improving transport infrastructure.
Furthermore, high processing time required for obtaining mining license is expected to be a key challenge for industry players over the foreseeable future. Environmental concerns associated with the mining activities and necessity to comply with government regulations incur additional costs to the industry players. These are the key factors that restrict the entry of new players in the industry.
The global dolomite mining industry is composed of few international players as well as a large number of local players catering the regional pockets. For instance, according to the United States Geological Survey, U.S. alone produces dolomite with more than 1,000 companies from approximately more than 3,740 operations with roughly 3,700 quarries and 370 sales and distribution sites.
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Dolomite Mining Market Report Highlights
- By application, the construction segment dominated the market with a revenue share of 87.7% in 2019 owing to increasing usage of the product as a construction aggregate
- The steel application segment is estimated to expand at a CAGR of 4.3%, in terms of revenue, from 2020 to 2027 owing to rising steel production in Asia Pacific
- Asia Pacific is projected to be the fastest growing regional market with a CAGR of 4.9%, in terms of revenue, from 2020 to 2027 due to developing transport infrastructure in the region
- North America dominated the market with a revenue share of 42.2% in 2019. U.S. accounted for the largest share in the region owing to its already established mining base and availability of reserves
- Almost 99% of the dolomite mined in U.S. is consumed domestically mainly for construction application.
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Dolomite Mining Market Segmentation
Grand View Research has segmented the global dolomite mining market on the basis of application and region:
Dolomite Mining Application Outlook (Volume, Tons; Revenue, USD Thousands, 2016 – 2027)
- Animal feed
- Ceramics & Glass
- Paints & Coatings
Dolomite Mining Regional Outlook (Volume, Tons; Revenue, USD Thousands, 2016 – 2027)
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa
List of Key Players of Dolomite Mining Market
- RHI Magnesita
- Vadmar Dolomit
- Omya AG
- Essel Mining
- JFE Mineral
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About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.