Global Magnesite Market

Magnesite Market Size, Share, Growth Analysis, By Type(Dead-Burned Magnesia (DBM), Fused Magnesia (FM) and Caustic Calcined Magnesia (CCM)), By Application(Refractories, Construction, Chemicals, Agriculture and Others), By Region - Industry Forecast 2024-2031


Report ID: SQMIG15E2245 | Region: Global | Published Date: February, 2024
Pages: 157 |Tables: 63 |Figures: 75

Magnesite Market Insights

Magnesite Market size was valued at USD 8.86 billion in 2021 and is poised to grow from USD 9.32 billion in 2022 to USD 13.98 billion by 2030, growing at a CAGR of 5.2% during the forecast period (2023-2030).

The global magnesite market has been experiencing steady growth in recent years, driven by the increasing demand from various industries. Refractories made from magnesite are highly resistant to heat, corrosion, and mechanical stress, making them essential for lining furnaces, kilns, and other high-temperature industrial equipment. The booming construction industry, particularly in emerging economies, has also contributed to the demand for magnesite-based refractories. Magnesite is used as a soil conditioner and fertilizer, supplying essential magnesium nutrients to crops. The increasing awareness of the benefits of magnesium in enhancing plant growth and productivity has spurred the adoption of magnesite-based fertilizers, thereby driving market growth. In the chemical industry, magnesite is utilized in the production of magnesium-based compounds, such as magnesium oxide (MgO) and magnesium hydroxide (Mg(OH)2). These compounds find applications in various sectors, including water treatment, flame retardants, pharmaceuticals, and environmental protection. The growing demand for these chemicals in different industries is expected to positively impact the market.

US Magnesite Market is poised to grow at a sustainable CAGR for the next forecast year.

Market Snapshot - 2024-2031

Global Market Size

USD 8.86 billion

Largest Segment

Dead-Burned Magnesia

Fastest Growth

Dead-Burned Magnesia

Growth Rate

5.2% CAGR

Global Magnesite Market By Country ($ Bn)
Country Share for Asia - Pacific Region (%)

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Magnesite Market Segmental Analysis

Global Magnesite Market is segmented by type, application, and region. Based on type, the market can be segmented into Dead-Burned Magnesia (DBM), Fused Magnesia (FM) and Caustic Calcined Magnesia (CCM). Based on application, the market is segmented into Refractories, Construction, Chemicals, Agriculture and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Magnesite Market Analysis by Type

In the global magnesites market, among the types Dead-Burned Magnesia (DBM), Fused Magnesia (FM), and Caustic Calcined Magnesia (CCM), the dominant type is Dead-Burned Magnesia (DBM). DBM is widely used in various industries such as steel, refractories, cement, and chemicals due to its excellent properties including high refractoriness, chemical stability, and resistance to corrosion and high temperatures. Its dominance can be attributed to its extensive application across diverse sectors.

On the other hand, the fastest-growing type in the global magnesites market is Caustic Calcined Magnesia (CCM). CCM is experiencing significant growth primarily due to its rising demand in environmental applications, particularly in flue gas desulfurization (FGD) systems. CCM is utilized in FGD processes to remove sulfur dioxide (SO2) emissions from power plants and industrial facilities. The implementation of stringent environmental regulations and the increasing focus on reducing air pollution have propelled the demand for CCM in FGD systems, thus driving its growth in the market.

Magnesite Market Analysis by Application

In the global magnesite market, the construction industry has been the dominant presence, holding the largest market share, & is poised for significant growth in the upcoming forecast period. Magnesite, an important mineral composed of magnesium carbonate (MgCO3), finds many applications, and the construction industry has long been a major consumer of high-performance magnesium products

The fastest growing application segment in the global magnesite market is construction. Magnesite is finding great importance in the construction industry as a key ingredient in the manufacture of magnesium cement & lightweight concrete. Magnesia cement provides high compressive strength, fire resistance, & excellent durability, making it suitable for use in infrastructure development, residential, & commercial construction projects. Increased emphasis on sustainable and energy-efficient construction practices is driving demand for magnesite in the construction industry.

Global Magnesite Market By Type, 2023 (%)

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Magnesite Market Regional Insights

Asia-Pacific dominated the global magnesites market. Asia-Pacific holds a significant share in the market due to several factors such as the presence of large magnesite reserves, extensive industrialization, and a booming construction sector. Countries like China, India, and South Korea are major contributors to the production and consumption of magnesites in the region. The growing demand for magnesites in steel production, refractories, cement manufacturing, and chemical industries further strengthens Asia-Pacific's dominance in the global market.

On the other hand, the fastest-growing region in the global magnesites market is expected to be the Middle East and Africa. The region is witnessing a surge in infrastructure development, particularly in countries like Saudi Arabia, United Arab Emirates, and South Africa. Magnesites find extensive applications in the construction industry for fireproofing, as well as in the production of magnesium-based chemicals and refractory materials. The increasing construction activities and investments in infrastructure projects are driving the demand for magnesites in the Middle East and Africa, making it the fastest-growing region in the market.

Global Magnesite Market By Geography, 2024-2031
  • Largest
  • Fastest

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Magnesite Market Dynamics

Magnesite Market Drivers

Industrial Applications

  • Magnesite is widely utilized across various industries, such as chemical manufacturing, environmental protection, and agriculture, due to its versatility. It serves as a valuable raw material for the production of magnesium compounds, playing a vital role in numerous applications. Industries benefit from magnesite in areas such as water treatment, soil stabilization, and as an additive in fertilizers. The broad range of industrial applications significantly drives the demand for magnesite within these sectors.

Magnesite Market Restraints

Limited Reserves

  • Magnesite is a finite resource, and the availability of high-quality reserves is constrained. As the demand for magnesite continues to rise, concerns arise regarding the long-term sustainability of its supply. It becomes crucial to address these limitations by actively exploring and developing new magnesite reserves. Ensuring a stable and reliable supply of magnesite is of paramount importance for sustained industry growth and mitigating potential supply disruptions in the future.

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Magnesite Market Competitive Landscape

The global magnesite market is highly competitive, with numerous players vying for market share. Magnesite, a mineral primarily composed of magnesium carbonate (MgCO3), finds applications across various industries, including refractories, construction, chemical production, and agriculture. The competitive landscape of the global magnesite market is shaped by factors such as product quality, pricing strategies, geographical presence, and customer relationships.

Magnesite Market Top Player’s Company Profiles

  • RHI Magnesita (Austria).

  • Magnezit Group (Russia) .

  • Queensland Magnesia (Australia) .

  • Magnesita Refractories S.A. (Brazil).

  • Greek magnesite (Greece) .

  • Haicheng Magnesite Complex (China) .

  • S.M.Z. Jelsava (Slovakia) .

  • Liaoning Jinding Magnesite Group (China) .

  • President Magnesia (USA) .

  • Kumas Magnesite Power (Turkey) .

  • Nedmag Industry (Netherlands) .

  • Baymag Inc. (Canada) is available.

  • Calyx (Australia) .

  • Ube Products, Ltd. . (Japan)

  • Industrial Minerals Company (USA) .

  • Martin Marietta Special Studies in Magnesia (USA) .

  • POSCO Magnesium Company (South Korea) .

  • Nikomag (Russia)

  • Imeris (France)

  • Nedmag B.V. (The Netherlands)

Magnesite Market Recent Developments

  • In March 2023, Magnecita Refractories made a strategic move by acquiring Calsil, a leading North American supplier of magnesia-based products. The acquisition helps enhance Magnesita’s product portfolio and expand its geographic reach.

  • In February 2023, the Russian Mining and Metallurgy Company (MMC) unveiled plans to expand magnesite mining and production in Russia. This expansion program is planned to boost MMC’s magnesite production by 50%.

  • In January 2023, Imerys made headlines with the opening of a new magnesite production facility in Brazil. The facility is designed to produce high-purity magnesia products designed for the refractory chemical and industrial markets.

  • In December 2022, Calix introduced a new magnesia-based material that supports the construction industry. This innovation is designed to improve the fire resistance and durability of concrete, bringing potential benefits to the construction industry.

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Magnesite Key Market Trends

  • Increasing demand for construction services: The demand for materials in the construction industry has increased , the growth is due to increased demand for magnesite, an important mineral made of magnesium carbonate (MgCO3) The construction industry is independent and they have long been immersed in the production of high-performance magnesia Products. Magnesite finds a variety of construction-related applications, including industrial flooring, building boards, stone rolling, wheel rolling, phosphate cement mortar, wall stabilization, forming, drilling mortar, clay tile construction, as an additive in addition to cement Also, magnesite serves as an essential industrial mineral with wide application up Currents, ceramics, steel, cement, glass , increasing demand in the construction industry increasing coal and chemical industry stands out as a key driver for the magnesite market.

Magnesite Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.

According to the Global Magnesite Market analysis, the market has been experiencing steady growth due to the increasing demand for magnesite in the construction sector is one of the primary factors driving market growth. Magnesite, with its high refractoriness and heat resistance properties, finds extensive applications in the production of refractory materials used in steel, cement, and glass industries. The rising infrastructure development and construction activities in emerging economies further contribute to the demand for magnesite. These compounds find applications in diverse industries, including pharmaceuticals, agriculture, and environmental applications. The expanding use of magnesium compounds as flame retardants, pH regulators, and dietary supplements drives the demand for magnesite globally.

Report Metric Details
Market size value in 2023 USD 8.86 billion
Market size value in 2031 USD 13.98 billion
Growth Rate 5.2%
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Dead-Burned Magnesia (DBM), Fused Magnesia (FM) and Caustic Calcined Magnesia (CCM)
  • Application
    • Refractories, Construction, Chemicals, Agriculture and Others
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • RHI Magnesita (Austria).

  • Magnezit Group (Russia) .

  • Queensland Magnesia (Australia) .

  • Magnesita Refractories S.A. (Brazil).

  • Greek magnesite (Greece) .

  • Haicheng Magnesite Complex (China) .

  • S.M.Z. Jelsava (Slovakia) .

  • Liaoning Jinding Magnesite Group (China) .

  • President Magnesia (USA) .

  • Kumas Magnesite Power (Turkey) .

  • Nedmag Industry (Netherlands) .

  • Baymag Inc. (Canada) is available.

  • Calyx (Australia) .

  • Ube Products, Ltd. . (Japan)

  • Industrial Minerals Company (USA) .

  • Martin Marietta Special Studies in Magnesia (USA) .

  • POSCO Magnesium Company (South Korea) .

  • Nikomag (Russia)

  • Imeris (France)

  • Nedmag B.V. (The Netherlands)

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Magnesite Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Magnesite Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Magnesite Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Magnesite Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Magnesite Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Magnesite Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Magnesite Market size was valued at USD 8.86 billion in 2021 and is poised to grow from USD 9.32 billion in 2022 to USD 13.98 billion by 2030, growing at a CAGR of 5.2% during the forecast period (2023-2030).

The magnesite market is highly competitive, with numerous players vying for market share. Magnesite, a mineral primarily composed of magnesium carbonate (MgCO3), finds applications across various industries, including refractories, construction, chemical production, and agriculture. The competitive landscape of the magnesite market is shaped by factors such as product quality, pricing strategies, geographical presence, and customer relationships. ' RHI Magnesita (Austria). ', ' Magnezit Group (Russia) . ', ' Queensland Magnesia (Australia) . ', ' Magnesita Refractories S.A. (Brazil). ', ' Greek magnesite (Greece) . ', ' Haicheng Magnesite Complex (China) . ', ' S.M.Z. Jelsava (Slovakia) . ', ' Liaoning Jinding Magnesite Group (China) . ', ' President Magnesia (USA) . ', ' Kumas Magnesite Power (Turkey) . ', ' Nedmag Industry (Netherlands) . ', ' Baymag Inc. (Canada) is available. ', ' Calyx (Australia) . ', ' Ube Products, Ltd. . (Japan) ', ' Industrial Minerals Company (USA) . ', ' Martin Marietta Special Studies in Magnesia (USA) . ', ' POSCO Magnesium Company (South Korea) . ', ' Nikomag (Russia) ', ' Imeris (France) ', ' Nedmag B.V. (The Netherlands) '

Magnesite is widely utilized across various industries, such as chemical manufacturing, environmental protection, and agriculture, due to its versatility. It serves as a valuable raw material for the production of magnesium compounds, playing a vital role in numerous applications. Industries benefit from magnesite in areas such as water treatment, soil stabilization, and as an additive in fertilizers. The broad range of industrial applications significantly drives the demand for magnesite within these sectors.

Increasing demand for construction services: The demand for materials in the construction industry has increased , the growth is due to increased demand for magnesite, an important mineral made of magnesium carbonate (MgCO3) The construction industry is independent and they have long been immersed in the production of high-performance magnesia Products. Magnesite finds a variety of construction-related applications, including industrial flooring, building boards, stone rolling, wheel rolling, phosphate cement mortar, wall stabilization, forming, drilling mortar, clay tile construction, as an additive in addition to cement Also, magnesite serves as an essential industrial mineral with wide application up Currents, ceramics, steel, cement, glass , increasing demand in the construction industry increasing coal and chemical industry stands out as a key driver for the magnesite market.

Asia-Pacific dominated the magnesites market. Asia-Pacific holds a significant share in the market due to several factors such as the presence of large magnesite reserves, extensive industrialization, and a booming construction sector. Countries like China, India, and South Korea are major contributors to the production and consumption of magnesites in the region. The growing demand for magnesites in steel production, refractories, cement manufacturing, and chemical industries further strengthens Asia-Pacific's dominance in the market.

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