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The global dolomite powder market size is expected to reach USD 33.44 billion by 2027. The growing diverse application of dolomite in comparison to limestone is expected to spur opportunities for the market, states Fortune Business Insights in a report, titled “Dolomite Powder Market Size, Share & COVID-19 Impact Analysis, By Type (Calcium Dolomite, and Magnesia Dolomite), By Application (Steel-making, Cement Industry, Agriculture, Glass, Ceramic, Rubber, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 25.41 billion in 2019 and is expected to exhibit a CAGR of 3.8% between 2020 to 2027.
Partnership Extension of Sibelco and Shark Solutions to Augment Growth
Sibelco, a global material solutions company specializing in flat glass, container glass, and laminated glass announced the extension of its partnership agreement with cleantech, a Danish-based recycling company for PVB (PolyVinyl Butyral) residues. The Sibelco’s recycling process for laminated glass segregates the glass, metals, ceramics along PVB, which is used as the laminate in applications such as car windshields. The new development of the company will cater to the demand for sustainable production for the world economy. Moreover, the collaboration with Shark Solutions will offer the correct tools and technologies in the process of PVB from recycled laminated glass. Besides, the inclination towards recycling to save and sustain the environment can have a tremendous influence, as recycled materials can save up to 58,000 tonnes of CO2 per year. The constant efforts to reduce wastage by the companies will improve the prospects of dolomite powder in various applications.
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Bourgeoning Construction Industry to Aid Development
The increasing demand for dolomite powder in construction materials will promote the growth of the market. It is also used in the production of cement. As per the Confederation of Indian Industries (CII) During 2016, the global production capacity of cement stood at 4200 million tonnes. The total world production of cement is expected to be around 4.4 billion metric tons in 2020. The growing development of residential and commercial buildings will facilitate the speedy expansion of the market. Moreover, the rising use of dolomite in the production of sealants, putties, caulk, asphalt roofing shingles, and tiles will further enhance the growth of the market during the forecast period.
Enhanced Distribution Network of Companies to Consolidate Industry
The major companies in the market are Sibelco, Imerys S.A., Minerals Technologies Inc., Carmeuse, and Omya Group. Sibelco. For instance, Sibelco is one of the leading providers of material solutions for agriculture, ceramics, construction, and the glass industry. The company operates 195 production sites in more than 34 countries. Moreover, the major players are adopting various strategies such as partnerships and acquisitions to strengthen its presence in the market. Also, the rising focus on distribution channels and product offerings will create lucrative business opportunities for the market.
The Report Lists the Main Companies in the Dolomite Powder Market:
Further Report Findings:
The Market is Segment into:
Value (USD Billion) and Volume (Million Ton)
Type; Application and Geography