Dolomite Powder Market Trends
Growth Driver
- Growing Demand as a Soil Fertilizer – Dolomite powder plays a crucial role in the agriculture domain by serving as soil fertilizer for plant roots, along with this it also neutralizes the PH level of soil and offers valuable minerals and nutrients to soil. Fertilizer sales in India increased by 83% from April to June 2020 compared to the same period in 2019, despite a national lockdown.
- High Demand in the Glass and Ceramic Industry - A significant end-user sector of this market is the glass and ceramics sector. Dolomite and limestone are added to the glass melt to add lime. The mineral's magnesia content enhances the glass's toughness and prevents the devitrification process, which is important for the creation of flat glass. It is also utilized in container glass. Therefore, owing to these attributes the high demand in the glass and ceramic industry is expected to propel the market growth.
- Technological Advancement in Dolomite Powder - The product is experiencing a growth in demand across an array of applications as a result of technical improvements. Throughout the forecast period, this is anticipated to positively impact the growth of the worldwide dolomite powder market.
Challenges
- Side Effects Caused by Dolomite Exposure – The dolomite powder contains lead impurities sometimes in the form of powder in the post-processing. And if this powder containing impurities is used as fertilizers in soil then it can cause harmful effects to animals and human beings. Therefore, exposure to dolomite offers side effects such as headache, vomiting, stomach ache, diarrhea, and fatigue. Hence, these side effects are also estimated to hamper the market expansion in the upcoming period.
- Availability of Alternatives
- Health Concerns from Lead-Contaminated Dolomite Dust
Dolomite Powder Market: Key Insights
The chemical industry is a major component of the economy. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Programme), the sales of chemicals are projected to almost double from 2017 to 2030. In the current scenario, Asia Pacific is the largest chemical producing and consuming region. China has the world’s largest chemical industry that accounted for annual sales of approximately more than USD 1.5 trillion, or about more than one-third of global sales, in recent years. Additionally, a vast consumer base and favorable government policies have boosted investment in China’s chemical industry. Easy availability of low-cost raw material & labour as well as government subsidies and relaxed environmental norms have served as a production base for key vendors globally. On the other hand, according to the FICCI (Federation of Indian Chambers of Commerce & Industry), the chemical industry in India was valued at 163 billion in 2019 and it contributed 3.4% to the global chemical industry. It ranks 6th in global chemical production. This statistic shows the lucrative opportunity for the investment in businesses in Asia Pacific countries in the upcoming years.
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
3.9% |
|
Base Year Market Size (2024) |
USD 3.24 billion |
|
Forecast Year Market Size (2037) |
USD 5.33 billion |
|
Regional Scope |
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