About Magnesite
Magnesite refers to the alteration of carbonate rocks or magnesium-rich rocks by chemical weathering or metamorphism. Magnesite market has high growth prospects owing to rising application in the construction, industrial, chemical, agriculture, and other industries. Further, increasing demand from the developing countries owing to growth in the construction infrastructure due to the increasing application of magnesite as cement additive expected to drive the demand for magnesite over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth. Analyst at AMA Research estimates that China Vendors will contribute the maximum growth to Global Magnesite 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.
Houying Group (China), Queensland Magnesia Pty. Ltd. (Australia), Magnezit Group (Germany), Calix (Australia), Baymag Inc. (Canada), Liaoning Wancheng Magnesium Industry Group Co Ltd. (China), GRECIAN MAGNESITE (Greece), RHI Magnesita (Austria), Hartley (Haicheng) Magnesite Company Limited (China) and Liaoning BeiHai Industries Group Co., Ltd. (China) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Hunan Rui Yue Industrial and Trade Co., Ltd. (China), Zibo Hitech Material Co., Ltd. (China) and Dalian Fupeng International Trade Co., Ltd. (China).
Segmentation Overview
AMA Research has segmented the market of Global Magnesite market by Type (Magnesite Ore, Dead-burned Magnesia, Fused Magnesia and Others), Application (Refractory and Others) and Region.
On the basis of geography, the market of Magnesite 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 Industry Vertical, the sub-segment i.e. Construction will boost the Magnesite market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Applications in the Iron & Steel Industries and Rising Use of Magnesite in the Waste Water Treatment
Market Growth Drivers:
Growth in the Construction Industry and Rising Demand of Magnesite from the Chemical Industry
Challenges:
Issues Related With Waste Management of Magnesite
Restraints:
Stringent Government Regulations Regarding Magnesite and Stringent Environmental Emission Norms Regarding Magnesite
Opportunities:
Growing Demand of Magnesite as Cement Additive in the Construction Industry and Increasing Demand from the Developing Countries Owing to growth in Construction Infrastructure
Market Leaders and their expansionary development strategies
In October 2023, RHI Magnesita, an Austria-based global supplier of high-grade refractory products, systems, and services, acquired Germany, Czech Republic, and Slovenia-based refractory businesses of the Preiss- Daimler Group (P-D Refractories) for an undisclosed amount. This acquisition allows RHI Magnesita to offer an expanded product and service portfolio to an extended customer base, Preiss-Daimler Group (P-D Refractories) is a Germany-based producer of high-quality alumina-based refractories for industrial applications, has a product portfolio that includes magnesite bricks among other materials like high-alumina specialties, bauxite, andalusite, silica, and fireclay.
In March 2021, Akdeniz Mineral Kaynaklari A.Ş. (AMK), a Turkish subsidiary of Grecian Magnesite S.A., completed the construction of a new mineral processing line.
“The Haicheng Government had issued an order that all magnesia plants using coal, gas, and oil in their production must cease operations at once. Also, issued a ban on illegal mining of magnesite in the district, which includes the use of mechanical excavators as opposed to drill and blast techniques.”
Key Target Audience
Magnesite Manufacturers, Magnesite Suppliers and Distributors, Government Regulatory Authorities, Research Laboratories, Research and Development Companies 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.