Magnesite Market – By Product Type (Magnesite Ore, Fused Magnesia, and Dead-burned Magnesia), By End-use Industry (Construction, Chemical, Industrial, and Agriculture) – Size, Share, Outlook, and Opportunity Analysis, 2018 - 2025

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Magnesite is a magnesium carbonate (MgCO3) mineral occurring as veins in magnesium-rich rocks such as ultramafic rocks and serpentinite. It is very brittle and has a vitreous shine with colors ranging from colorless or white when pure to pale yellow, pale brown, faintly pink, and lilac rose. In its purest form, the mineral contains around 50% magnesium, which makes it ideal for producing magnesium. Magnesium metal is used in products such as car seats, laptops, cameras luggage, and power tools. Magnesite is used in end-use industries such as construction, chemical, industrial, and agriculture. Large quantities of magnesite is burnt to make magnesium oxide, which is an important refractory material used as a lining in blast furnaces, kilns, and incinerators, as a binder in flooring material in the construction industry. Magnesite is used as a catalyst and filler in manufacturing of synthetic rubber and in the preparation of magnesium chemicals and fertilizers. Magnesite cupels are used for cupellation as magnesite cupel in fire assay, which can resist high temperatures involved in the process. Magnesite is commonly used to make beads, tumbled stones, and cabochons. White magnesite is porous and has the ability to be cut and reliably absorb dye to produce almost any color. According to Investing News Network, China is the world’s top country for magnesite mining by 2017, accounting for around 66% of the global output.

Other major countries for magnesite mining are Brazil, Greece Slovakia, Turkey, Australia, India, Russia, Austria and Spain. According to Indian Minerals Yearbook 2015, the total reserves/resources of magnesite as per UNFC system by 2013, were about 328 million tons, of which reserves and remaining resources are 21 million tons and 307 million tons, respectively. According to the European Association of Mining Industries, Metal Ores, and Industrial Minerals, the European Union (EU) extracts around 2.9 million tons of primary material (expressed as magnesite ore), accounting for 10% of the world production.

Market Dynamics

  • A major driver for the global magnesite market growth is increasing growth in the construction sector. According to Global Construction Perspectives and Oxford Economics, in 2015, the global construction market is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion and increasing by an average annual rate of 3.9% to 2030. Rising construction sector demands cement and other construction materials such as magnesite, which is contributing towards the global magnesite market growth.
  • Stingent environmental and government regulations implemented to reduce environmental pollution arising from steel production is a major challenge faced by magnesite manufacturers as it is one of the important refractory material. This is a major a restraint for global magnesite market growth. For instance, ‘Air and Leaching Pollution Scenario by Iron and Steel Plants, in central India’ research paper stated that, In India iron and steel industries are, among the 17 most polluting industrial sectors, identified by the Central Pollution Control Board (CPCB).

Market Outlook

  • According to global magnesite market analysis, North America held the dominant position in the market in 2017. North America is projected to maintain its dominance throughout the forecast period owing to magnesite demand from the construction industry.
  • Based on end-use industry, the construction segment is projected to gain major traction over the forecast period, owing to increasing use of magnesite for application in this sector. This is due to exceptional refractory properties of magnesite useful in steelmaking, metallurgical, and ceramic processes. The use of magnesite as a cement additive is also gaining popularity in the construction industry. According to Industrial Minerals Association North America, the refractory industry is the greatest consumer of magnesium compounds and the steel industry is the largest user of refractory magnesia. It is used to treat industrial wastewater by removing silica and precipitating heavy metals, to reduce air pollution by stripping sulfur dioxide from industrial air emissions. Magnesite’s absorbent properties are useful in cleaning up hazardous chemical spills and hence, the chemical segment is expected to be the fastest growing segment during the forecast period.

Key players in Global Magnesite Market

  • Key players operating in the global magnesite market are Calix, Magnezit, Grecian Magnesite Houying Group, Baymag, Grecian Magnesite, Magnesium Group, Liaoning Wancheng, Haicheng Xiyang Magnesium Ltd., Magnesita, Ramakrishna Magnesite Mines, Queensland Magnesia Ltd., Liaoning Jinding Magnesite Group, BeiHai Group, and Haicheng Magnesite among others.


Market Taxonomy

On the basis of products, global magnesite market is segmented into:

  • Magnesite Ore
  • Fused Magnesia
  • Dead-burned Magnesia

On the basis of end-use industry, global magnesite market is segmented into:

  • Construction
  • Chemical
  • Industrial
  • Agriculture

On the basis of region, global magnesite market is segmented into:

  • North America
    • U.S.
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • South Korea
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
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  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
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Data Processing

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Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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