Global Magnesite Market: Overview

Magnesite has become an integral part of advanced manufacturing process and materials. Almost every product, spanning paper and cement to animal feeds, contain magnesite. Also known as magnesium carbonate (MgCO3), magnesite is usually found as veins formed due to the modification of magnesium-rich rocks undergoing low level metamorphism when in contact with carbonate-rich compound. The color of magnesite ranges from white to tinted brown and tinted yellow based on purity of the mineral. The mineral is brittle and has magnesium content of about 50% in its purest form. High magnesium content of the mineral makes it ideal for the production of magnesium. Magnesium is used in various products such as laptops, power tools, car seats, and cameras luggage. The magnesium metal is also employed in several end-use industries for various applications.

Growth in the global construction industry is one of the major drivers of the magnesite market. The global construction industry is expanding at a steady pace. Increase in number of new projects, especially in developing countries, is boosting the construction industry. This, in turn, is expected to propel the demand for magnesite, as the mineral plays an important role in the industry.

Global Magnesite Market: Key Segments

Based on type, the magnesite market can be segmented into fused magnesia, magnesite ore, dead burned magnesia, and others. Dead burned magnesia is primarily used for refractory purposes. Among all the commonly used refractory oxides, dead burned magnesia has the highest melting point. Thus, it is the most suitable material for usage in high temperature processes for heat containment, especially in the steel industry. Fused magnesia is superior to dead burned magnesia in terms of abrasion resistance, chemical stability, and strength.

Based on end-use industry, the magnesite market can be divided into construction, chemical, industrial, agriculture, and others. The construction segment is projected to account for dominant share of the global magnesite market in the near future. It is anticipated to maintain its leading position during the forecast period. This can be ascribed to the increase in demand for magnesite in the segment due to its refractory properties. Magnesite is also gaining popularity as an additive in cements. The iron & steel industry is the primary end-user of refractory materials. It accounts for around 70% of the global magnesite market in terms of demand. The chemical segment is estimated to be expand at a rapid pace due to the absorbent property of magnesite that makes it useful for spill cleanup of hazardous chemicals. Magnesite is also used to treat industrial wastewater containing heavy metals and silica.

Global Magnesite Market: Regional Outlook

In terms of region, the global magnesite market can be segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is estimated to dominate the global magnesite market during the forecast period owing to the high demand for magnesite in the construction industry in the region, especially in the U.S. However, the market in Asia Pacific is likely to expand at a faster pace during the forecast period, due to the rapid increase in construction, agriculture, and industrial activities in the region, especially in developing countries such as India and China. Furthermore, China is the largest producer of magnesite across the globe.

Global Magnesite Market: Key Players

Key players operating in the global magnesite market include Houying Group, Queensland Magnesia Pty. Ltd., Magnezit Group, Calix, Baymag Inc., Liaoning Wancheng Magnesium Industry Group Co Ltd, GRECIAN MAGNESITE, RHI Feuerfest GmbH, Hartley (Haicheng) Magnesite Company Limited, and Liaoning BeiHai Industries Group Co., Ltd. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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