About Pyroxenite
Pyroxenites are ultramafic intrusive igneous rocks composed almost entirely of dark Pyroxene group minerals rich in iron and magnesium, e.g., Augite, Diopside, Hypersthene, Diallage, Bronzite, and Enstatite, unlike other mafic minerals Olivine and Amphibole. The defining feature of pyroxenite is its mineral composition. Unlike most rocks, which are a mix of various minerals, pyroxenite is dominated by a single group: pyroxenes. These chain-like silicate minerals come in various pyroxene, each with its unique chemical signature. Pyroxenite finds application as fluxing along with a sintering agent in blast furnaces across the steel & iron industry. The rising demand for pyroxenite application bases is expected to stimulate the growth of the market. Manufacturers are prioritizing the development of sustainable pyroxenite applications that are likely to fuel growth in the market
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.0% |
The reports cover key developments in the Pyroxenite market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnerships & collaborations. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Pyroxenite market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Sibel Group (Russia), Chromite South Africa (South Africa), Norsk Stein (Norway), Luzenac Group (France), Tata Steel Ltd. (India), Rio Tinto (United Kingdom), Chromex Mining (South Africa), Anglo-American Platinum (South Africa), Glencore (Switzerland), Norilsk Nickel (Russia), Bushveld Minerals (South Africa), Martin Marietta Materials (United States) and Vulcan Materials Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Bharat Mining Company (India), Luoyang Tongling Magnesium Technology Co., Ltd. (China), Magnesit Rohstoffhandel GmbH (Austria), Cemex México (Mexico) and North American Refractories Company (United States).
Segmentation Overview
AMA Research has segmented the market of Global Pyroxenite market by Type (Clinopyroxenites, Orthopyroxenites and Websterites), Application (Iron Making, Glass Manufacturing, Steel Production, Constructions and Others) and Region.
On the basis of geography, the market of Pyroxenite has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Color, the sub-segment i.e. Light Green will boost the Pyroxenite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. High (> 70%) will boost the Pyroxenite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Minerals, the sub-segment i.e. Pyroxene will boost the Pyroxenite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Demand in Steel and Iron Industries to Remove Impurities
Market Growth Drivers:
Growing Adoption of Olivine-type Mineral Pyroxenite and High Growth in the Automotive and Construction Sector
Challenges:
High Competition by Low-Priced Alternatives and Lack of availability of Mining or Extraction Labors
Restraints:
High Extraction Cost of Pyroxenite and Stringent Government Regulations Related to Environment Protection
Opportunities:
Rising Demand for Stainless Steel in Developing Countries Such as China and India
Market Leaders and their expansionary development strategies
On October 18, 2023, Rio Tinto, a global mining giant, partnered with a local community in Finland to develop a sustainable pyroxenite mining project with a focus on environmental protection and community engagement. this partnership holds promise for advancing sustainable mining practices and demonstrating the potential for collaboration between mining companies and local communities.
On December 15, 2023, Luzenac Group introduced a new line of high-purity magnesium oxide (MgO) products derived from pyroxenite for use in refractories and ceramics. This expansion caters to the increasing demand for high-performance industrial materials.
The U.S. Department of the Interior’s Bureau of Land Management (BLM) regulates the exploration and extraction of pyroxenite from public lands, including environmental protection and restoration requirements, financial assurances, and reclamation plans., and India’s Ministry of Mines also requires that all pyroxenite mines in the country abide by safety standards such as proper removal of waste material, dust control measures, and emissions monitoring systems to reduce air pollution from pyroxenite mining activities.
Key Target Audience
Mining & Extraction Companies, Government Regulatory & Authorities, Suppliers & Distributors, Potential Investors and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.