Future Market Insights (FMI) has forecast the dolomite market value to surpass US$ 3,567.3 million in 2023. The dolomite industry is anticipated to be driven by growing demand from construction, agrochemicals, mining & metallurgy, pharma & healthcare, and glass & ceramics sectors. The market is likely to register a growth of 4.4% CAGR during the assessment period.
Demand for dolomite is expected to grow as industries aim for emission control & waste reduction. FMI has projected the market valuation to reach US$ 5,487.1 million by 2033. Dolomite accounts for nearly 6% of the overall Carbonate Minerals market.
The advancements in the dolomite industry have paved the way for numerous chemical manufacturers’ new product launches and increasing customer base. For instance, In March 2022, Dalmia-OCL, the refractory business of the Dalmia Bharat Group, announced the merger of all its domestic businesses into a single consolidated entity titled Dalmia Bharat Refractories Ltd (DBRL).
The consolidation is aimed at strengthening DBRL’s financial standing, increasing its investment capabilities, expanding its talent base, and positioning the new entity as a trustworthy and long-term partner for its customers in the steel, cement, and other industries having high-temperature processes.
Which Drivers underpin Dolomite Industry Expansion?
The rapid expansion of the construction & infrastructure segment is propelling the demand for cement. Mechanical strength is the most important criterion for selection criteria in concrete end-use cases.
Dolomite is used in the manufacturing of high-mechanical-strength concrete that withstand heavy loads. Investment in infrastructure, especially in developing nations, is boosting the demand for dolomite in civil construction. This is resulting in increased sales of dolomite, and the trend is expected to continue over the forecast period.
Significant growth in the construction and infrastructure sector across the world in the past few years has boosted the consumption of cement, resulting in high demand for dolomites for production. As dolomite utilization helps in reducing carbon emission and waste generation, key players are preferring dolomite to produce cement. This reduces the overall production cost and helps companies in achieving their sustainability goals.
For instance, China also significantly increased its cement production in the last decade, which has boosted the demand for dolomite. The overall increase in cement production is anticipated to propel the consumption rate of dolomite in the coming years.
Dolomite Demand Analysis (2018 to 2022) Vs Market Outlook (2023 to 2033)
Demand for dolomite grew at 3.9% CAGR between 2018 and 2022. Sales prospects were however dampened due to the outbreak of the COVID-19 pandemic in 2020, which reduced dolomite demand across several industries. This list included the construction, glass, and ceramics sectors. The decline in the production of cement also negatively impacted the consumption of dolomite.
The increasing use of dolomite in cement production and manufacturing of agrochemicals is projected to propel sales at 4.4% CAGR over the forecast period. Significant growth in cement production in East Asia, especially in China is expected to continue boosting the consumption of dolomite.
Why is Demand for Dolomite Rising in the United States?
In 2022, the United States dolomite market grew by 4.3% year on year, reaching a valuation of US$ 650.7 million. The rapid expansion of end-use industries such as construction, water & sludge treatment, glass & ceramics, and pharmaceutical & healthcare in the USA is expected to boost demand for dolomite in the forthcoming years.
Dolomite is widely used in refractory manufacturing that is catered to the steel industry. Refractory demand is swelling broadly due to high consumer demand, which is compelling manufacturers to expand their production activities. For instance, in July 2020, RHI Magnesita announced an investment of Euro 40 million (~US$ 47.02 million) at its site in Hochfilzen, Tyrol, Austria.
The project includes the construction of a tunnel that avoids around 7,500 truck trips per annum in the future and the site is likely to become a center of European dolomite production as the annual production is expected to increase to 200 kilotons from 10-60 kilotons. This is a positive sign for market growth.
The Start-Up Ecosystem: How Key Players are Opening Frontiers for Future Growth?
There are many prominent market players in the Dolomite market, who are working hand-in-hand to provide the best-in-class Dolomite for enhancing the global analytics arena. However, many global start-ups in the Dolomite market are stepping forward in matching the requirements of the Dolomite domain.
Founded in 2006, Dolomite Bio designs products for high throughput single-cell research, which involves single-cell RNA sequencing, Isolation of antibody coding sequence, profiling T-cell receptor, encapsulating cells in gel microbead, and droplets for FACS sorting library. The platform system comprises µEncapsulator System (required for encapsulation of single cells) and RNA seq system. Both systems work using microfluidic technology. The single cells get entrapped in microfluidic droplets (oil) for analysis. The headquarter of the company is based out of Stevenage, United Kingdom.
Founded in 2011, Mill Creek Dolomite owns and operates a dolomite quarry and plant in Oklahoma and sells into specialty markets for dolomite, principally glass, roofing materials, and aglime.On February 9th, 2022, Mill Creek Dolomite was acquired by the United States Lime & Minerals 4M. The startup is located in Copenhagen (Denmark) and has gathered overall funding of US$ 33 Billion to date.
Competitive Landscape: What are the Leading Players in the Dolomite Market Up to?
Key market participants are enhancing their global presence through mergers, acquisitions, strategic collaborations, and partnerships. Further, key players are focusing on reducing carbon emissions by increasing waste utilization in their manufacturing processes.
For instance:
In June 2022, a new and innovative two-stage crushing system was installed at the RHI-Magnesita’s main United States industrial site in York, Pennsylvania, which mines dolomite for the production of refractory materials.
In April 2022, Backtrace Holdings Ltd – a world leader in Productizing Science® – is excited to announce the launch of Particle Works, a spin-out of Dolomite Microfluidics. The official launch of this new brand took place at the LNP Formulation and Process Development Summit in Boston, MA, from the 12th to the 14th of April 2022.
In May 2022, Omya, based in Switzerland, acquired the distributor Prima Inter-Chem in Malaysia and Indonesia. With this move, Omya boosts and develops its ingredient and specialty chemicals distribution in these countries for the food, pharmaceutical, animal feed, and industrial markets. In addition, it establishes a platform for growth for the wider region. Omya is a global producer of industrial minerals mainly derived from calcium carbonate, dolomite, and perlite and a worldwide distributor of specialty chemicals.
