Global Magnesite Market by Product Types, End-use Types and Regions- Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020–2026
The magnesite market is anticipated to expand expanding at a substantial CAGR during the forecast period 2020–2026.
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Magnesite is a mineral with the chemical formula MgCO3 (magnesium carbonate). Iron, manganese, cobalt and nickel may occur as admixtures, but only in small amounts. Magnesite occurs as veins in and an alteration product of ultramafic rocks, serpentinite and other magnesium rich rock types in both contact and regional metamorphic terrains. These magnesites are often cryptocrystalline and contain silica in the form of opal or chert. Magnesite is also present within the regolith above ultramafic rocks as a secondary carbonate within soil and subsoil, where it is deposited as a consequence of dissolution of magnesium-bearing minerals by carbon dioxide in groundwaters. Magnesite can be formed via talc carbonate metasomatism of peridotite and other ultramafic rocks.
Magnesite is formed via carbonation of olivine in the presence of water and carbon dioxide at elevated temperatures and high pressures typical of the greenschist facies. Similar to the production of lime, magnesite can be burned in the presence of charcoal to produce MgO, which, in the form of a mineral, is known as periclase. Large quantities of magnesite are burnt to make magnesium oxide, an important refractory material used as a lining in blast furnaces, kilns and incinerators. Calcination temperatures determine the reactivity of resulting oxide products and the classifications of light burnt and dead burnt refer to the surface area and resulting reactivity of the product, typically as determined by an industry metric of the iodine number. ‘Light burnt’ product generally refers to calcination commencing at 450 °C and proceeding to an upper limit of 900 °C — which results in good surface area and reactivity.
Market Trends, Drivers, Restraints, and Opportunities:
- The growth in the global construction industry is one of the major drivers of the magnesite market. The global construction industry is expanding at a steady pace. Increase in number of new projects, especially in developing countries, is boosting the construction industry.
- The magnesite market is growing due to growing demand from the refractory application, majorly in steel & iron industry. Magnesite is highly required in the refractory industries, and demand for refractories is likely to be boosted by increasing global steel& iron output. In terms of end-user application, around 65% of magnesite is used in refractory industries.
- The environmental and government regulations implemented on reducing environmental pollution emanating from steel production among other industries are major the challenge faced by magnesite manufacturers. Moreover, magnesite substitutes are also hindering the growth of the market in forecast years.
- Increasing use of magnesium oxide in growing demand for magnesite application in wastewater treatment, magnesia-based wallboards, and animal feed are the key supporter and are some of the potential areas which can be tapped by the manufacturers in order to grow their market share.
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Competitive Landscape:
The global magnesite market has been fragmented by presence of various regional and global players. Key players operating in the global magnesite market include Houying Group, Queensland Magnesia Pty. Ltd., Magnezit Group, Calix, Baymag Inc., Liaoning Wancheng Magnesium Industry Group Co Ltd, GRECIAN MAGNESITE, RHI Feuerfest GmbH, Hartley (Haicheng) Magnesite Company Limited and Liaoning BeiHai Industries Group Co., Ltd. These players differentiate with each other on the basis of features that they provide to their customers so that their requirements are completed smoothly. They compete with each other on the basis of the products they provide to their customers and the innovation that they use to extract the magnesite ore.
The global magnesite market has been segmented on the basis of
Product Types
- Fused Magnesia
- Magnesite Ore
- Dead Burned Magnesia
End-use types
- Construction
- Chemical
- Industrial
- Agriculture
Regions
- Asia Pacific
- Europe
- North America
- Middle East and Africa
- Latin America
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Table of Contents
- Executive Summary
- Assumptions and Acronyms Used
- Research Methodology
- Magnesite Market Overview
- Global Magnesite Market Analysis and Forecast by Type
- Global Magnesite Market Analysis and Forecast by Application
- Global Magnesite Market Analysis and Forecast by Sales Channel
- Global Magnesite Market Analysis and Forecast by Region
- North Magnesite Market Analysis and Forecast
- Latin Magnesite Market Analysis and Forecast
- Europe Magnesite Market Analysis and Forecast
- Asia Pacific Magnesite Market Analysis and Forecast
- Middle East & Africa Magnesite Market Analysis and Forecast
- Competition Landscape
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