by Dolomite is a type of limestone composed primarily of the mineral dolomite, or calcium-magnesium carbonate (CaMg(CO3)2). It is an essential mineral resource used in many industrial processes. It is an important material in construction industry for its high strength and structural properties. Dolomite is used as aggregate in road construction, railway ballast, concrete aggregate, agricultural limestone, soil conditioner, and filler material. The light-weight aggregate property makes it useful in manufacturing lightweight concrete blocks as it improves compressive strength and durability.
The global dolomite market is estimated to be valued at US$ 3088.79 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends witnessed in the dolomite market is its increasing usage in construction and infrastructure development activities. Dolomite finds widespread application as an aggregate for road construction and concrete aggregate owing to its high strength, structural integrity and durability. The rapid pace of urbanization and infrastructure projects across developing economies in Asia Pacific and Latin America has augmented the demand for dolomite. According to the World Bank, the global infrastructure investment needs an estimated $94 trillion by 2040. This rising investment in infrastructure projects will drive the consumption of dolomite in the ensuing years. Another key trend is the growing utilization of dolomite as an agricultural limestone. Dolomite neutralizes excess acidity in soil and supplies essential calcium and magnesium nutrients for plant growth. The expanding agricultural sector globally is expected to boost the demand for dolomite over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants into the dolomite market is moderate as the industry requires large capital investments to establish production facilities and compete with the global players.
Bargaining power of buyers: The bargaining power of buyers is moderate due to the availability of substitutes and large number of established players in the market.
Bargaining power of suppliers: The bargaining power of suppliers is low due to the availability of substitute raw materials.
Threat of new substitutes: The threat of substitutes like limestone is moderate as they can be used for similar applications.
Competitive rivalry: The competitive rivalry in the market is high due to the presence of numerous fragmented players competing on the basis of product quality and pricing.
Key Takeaways
The Global Dolomite Market Size is expected to witness high growth. The global dolomite market is estimated to be valued at US$ 3088.79 Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030.
The market in Asia Pacific region is projected to grow at the fastest rate during the forecast period. Growth in this region can be attributed to increasing steel production and rising infrastructural development activities in China and India. China accounted for the largest share of over 40% in the regional market in 2023. Growing steel industry in China and India is expected to drive the demand for dolomite in the region.
Key players: Key players operating in the dolomite market are Betatech Medical, Hemostasis LLC, CryoLife Inc., CSL Limited, Medtronic PLC, Johnson & Johnson, B.Braun Melsungen AG, Baxter International Inc., Integra Lifesciences Holdings Corporation, and Becton, Dickinson and Company (CR Bard), among others. Betatech Medical and Hemostasis LLC are recognized as prominent manufacturers of medical grade dolomite in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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