Magnesite and Brucite Market Size, Share, Growth and Industry Analysis, By Type (Phanero Crystalline Magnesite and Cryptocrystalline Magnesite), By Application (Dead-burned Magnesia, Caustic-calcined Magnesia, Fused or Electrofused Magnesia and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Magnesite and Brucite Market REPORT OVERVIEW

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The global magnesite and brucite market size was USD 507.2 million in 2022 and market is projected to touch USD 721.9 million by 2031, exhibiting a compound annual growth rate (CAGR) of 4.0% during the forecast period.

Magnesium, the eighth most common element in nature, makes up 2.4 percent of the earth's crust. It is not found in its natural state due to its high reactivity; instead, it can be found in a wide range of compounds in saltwater, rocks, and brines. The carbonates dolomite and magnesite are the most prevalent ore minerals. The hydroxide mineral brucite and the halide mineral carnallite are less prevalent. The major topics of this report are magnesite and brucite. It tarnishes a little in air and is a silvery-white tint.

COVID-19 Impact: Challenges Faced by Manufacturers and Distributors due to the Pandemic

Critical economic activities had been held down in numerous nations because of the COVID-19 epidemic. The principal cause of this slowdown is a result of numerous actions taken by the relevant governments to slow the spread of this infection. A huge gap between market supply and demand was developed as significant economies implemented precautionary lockdowns, which made it more challenging for manufacturers and distributors to efficiently manage their individual operations. This is a key element that will likely affect the likelihood of revenue growth. However, this market is anticipated to return to its pre-COVID-19 status as these lockdowns are gradually lifted and economies start to recover.

LATEST TRENDS

"Development of the Largest Brucite Deposit to Expand Sales "

Leading brucite producer Russian Mining Chemical Co. LLC (RMCC) completed the initial phase of development of what they described as the largest brucite deposit in the world in April 2020 and has partnered with Quimialmel to process brucite in Spain. The business is committed to beginning production in 2025, which will enable RMCC to achieve its objective of expanding sales to 500000 tpa brucite, despite the COVID-19 pandemic's concerns. The proximity of the deposit to significant Asian markets will enhance RMCC's position in this region of the world.

Magnesite and Brucite Market SEGMENTATION

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• By Type

Based on type, the market is distributed into Phanero Crystalline Magnesite and Cryptocrystalline Magnesite  

• By Application

Based on application, the market is divided into Dead-burned Magnesia, Caustic-calcined Magnesia, Fused for Electrofused Magnesia and Others

DRIVING FACTORS

"Increasing Demand from Refractory Applications is Anticipated to Drive Market Expansion"

The increasing demand for magnesite in the chemical and construction industries, as well as the rising production of its product type globally, are the main reasons driving the rise of the magnesite and brucite industries. Additionally, the magnesite market is expanding as a result of increased demand from refractory applications, particularly in the steel and iron industries. Magnesite is crucial to the refractory industries, and rising global steel and iron production is projected to increase demand for refractories. Less than 70% of magnesite is applied by end users in the refractory sector, which will drive the expansion of the industry as a whole in the years to come.

"Increasing Usage in Treatment of Wastewater to Foster Market Growth"

Due to the brucite's compositional features, another driver driving the magnesite and brucite industry, this element exhibits moderate alkalinity and can be utilized as a safe, non-toxic, and harmless green neutralizer in the treatment of acidic wastewater. In the process of neutralizing acidic chemicals, brucite also has some buffering capacity. In addition to this, brucite possesses a high degree of whiteness, good peeling properties, strong adhesion, and low water absorption. When combined with calcite as a filler, it allows the papermaking process to switch from an acidic method to an alkaline method, reducing slurry water contamination.

RESTRAINING FACTOR

"Government Policies and Threat of Substitutes are Hindering in the Growth of this Market"

Manufacturers of magnesite and brucite encounter significant obstacles as a result of environmental restrictions and government policies enacted to reduce environmental pollution coming from the steel industry and other industries. As these emanations hurt the environment and people more and more, they can even lead to major health problems in people. In addition, magnesite alternatives are preventing the magnesite and brucite market growth in the upcoming years.

Magnesite and Brucite Market REGIONAL INSIGHTS

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"Usage in Variety of Applications to Stimulate Product Demand in North America"

In comparison to other regions, North America has a larger magnesite and brucite market share. This is a result of the region's enormous production of magnetite and the regulatory assistance provided by other nations. Additionally, magnesite is being used more and more in a variety of applications, including chemical construction, agriculture, and many others. The market for magnesite and brucite will grow over the projected period due to rising economic development, globalization, rising demand for magnesite and brucite in refractory applications, foreign direct investment, and a wide range of end-users.

KEY INDUSTRY PLAYERS

"Organic and Inorganic Growth Opportunities Taken by the Major Players to Curb a Larger Market"

During the anticipated time, the major industry participants will make significant advancements in the magnesite and brucite markets. Many businesses are putting an emphasis on organic growth techniques including product launches, product approvals, and other things like patents and events. The players in the market engage in partnerships, acquisitions, and collaborations as inorganic growth tactics. These actions will open the door for the market players' customers and business to grow. Additionally, with the increased demand for magnesite and brucite in the global market, business participants in the sector foresee profitable growth potential in the future.

List of Market Players Profiled

• GRECIAN MAGNESITE (Athens & Istanbul)
• Calix (U.S.)
• Queensland Magnesia (Australia)
• Baymag (Canada)
• RHI Magnesita (Austria)
• Magnezit Group (Russia)
• Ramakrishna Magnesite Mines (India)
• Haicheng Magnesite (China)
• Liaoning Jinding Magnesite Group (China)
• Liaoning Wancheng Magnesium group (China)
• Liaoning BeiHai Industries Group (China)
• Houying Group (China)
• Xiyang Group (China)
• Magnezit Group JSC (Germany)
• Russian Mining Chemical (Russia)
• Garrison Minerals (U.S.)
• Premier Magnesia (U.S.)

REPORT COVERAGE

This report covers the magnesite and brucite market. The CAGR expected to be in during the forecast period, and also the USD value in 2022 and what it is expected to be in 2031. The effect COVID-19 had on the market in the beginning of the pandemic. The latest trends taking place in this industry. The factors that are driving this market as well as the factors that are restraining the growth of industry. The segmentation of this market based on type and applications. The region leading in the industry and why they will continue to do so during the forecast period. Further, the key market players, what all is being done by them to stay ahead of their competition as well as retain their market positions. All these details are covered in the report.