Magnesite Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The market is segmented by Product Type (Dead-Burned Magnesia, Fused Magnesia, Other Types), Application (Agriculture, Chemical, Construction, Refractory, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The report offers market size and forecasts for magnesite in volume (Kilo Tons) for all the above segments.

Market Snapshot

Magnesite Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Asia Pacific
CAGR: >5 %
Magnesite Market Key Players

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Market Overview

The Magnesite Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).

The impact of the COVID-19 pandemic results in lower mining activities. The shutdown of the mining sector due to social distancing and other factors has highly reduced the mineral's production levels, which, as a result, are unable to meet the current demand. This factor has constrained the overall mining sector, and thus, negatively impacted the overall market in terms of production.

  • In short term, the increasing demand from construction, refractory industries are driving the market growth.
  • In addition, Asia-Pacific is likely to dominate the overall market due to rising demand from the construction sector.

Scope of the Report

Magnesite is a magnesium carbonate mineral with MgCO3 as its chemical formula. The usage of Magnesite is to produce magnesium oxide (MgO), which is further used in the steel industry as a refractory material and as a raw material in the chemical industry. Magnesite is also used as a gem and lapidary stone in small quantities. The market is segmented by type, application, and geography. By product type, the market is segmented into Dead-Burned Magnesia, Fused Magnesia, and Other Types. By application, the market is segmented into Agriculture, Chemical, Construction, Refractory, and Other Applications. The report also covers the market size and forecasts for the Magnesite Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (Kilo Tons).

Type
Dead-Burned Magnesia
Fused Magnesia
Other Types
Application
Agriculture
Chemical
Construction
Refractory
Other Applications
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa

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Key Market Trends

Growing Demand for the Construction Industry

  • Magnesite is an important mineral composed of magnesium carbonate (MgCO3) and is being used for many applications. Construction Industry is among the major users that have been using high-performance magnesia products for a long time.
  • The applications of magnesite include industrial floors, building boards, abrasive stones, and grinding wheels, phosphate cement mortars, wall stabilization, road construction, drilling muds, ceramic tile production, and is also used as an additive in cement.
  • The adoption of magnesite in the construction industry is mainly due to its properties. Some of the properties include excellent adhesion, self-leveling, fire resistance, high bonding strength, and high hydration reaction.
  • The impact of COVID-19 resulted in the lockdown of economic and industrial activities across the globe. Due to this, mining operations have been stopped globally. So, the demand and supply dynamics have changed and the supply of magnesia to the construction industry has decreased in 2020, compared to previous years.
  • Moreover, the performance of the construction sector is projected to be greatly affected due to the impact on the liquidity of money as a result of the affected income of a relatively larger section of the society, this factor is expected to affect the market studied.
  • It is expected that post-recovery of activities from locked, the demand for magnesite is likely to recover from new construction projects in the forecast period.
Magnesite Market Share

Asia-Pacific Region to Dominate the Market

  • Asia-Pacific is expected to dominate the global market owing to the highly developed construction and chemical sectors in China, coupled with the continuous investments done in the region to develop the agriculture segment through the years.
  • A large percentage of magnesite is being used in the refractory industries. Hence, the presence of magnesite at the time of making steel plays a major role.
  • The growing construction market in Asia-Pacific has been increasing the demand for ceramics from residential as well as industrial sectors. Rising road construction activities in developing regions further escalate the demand for magnesite in recent times.
  • According to the US Geological Survey, China is the largest producer of magnesite and has produced around 19,000 metric tons in 2019. Agriculture (fertilizers), chemical, construction, industrial, refractory are some of the end-user industries that have been major consumers of magnesite for different applications in the country.
  • However, the recent COVID-19 pandemic, which originated from China, has tremendously impacted every country's economy with trade disruptions. This resulted in less consumption of magnesite due to the shut down of various end-user industries in the Asia-Pacific region, in 2020.
  • In the Asia-Pacific region, even after the resumption of most of the construction projects, the growth of the construction sector is experiencing slower growth. This is due to the lack of labor, transportation, and supply of raw materials. This factor has also become the major reason that has constrained the growth of the market studies in terms of consumption.
  • Post-COVID-19 recovery, the market is likely to grow for the rest of the forecast period, majorly owing to the expansion of chemical, agriculture, and construction industries develop in the region.
Magnesite Market Growth By Region

Competitive Landscape

The magnesite market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Grecian Magnesite, RHI Magnesita GmbH, Sibelco Australia Limited, Magnezit Group, and Baymag, amongst others.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand from Refractory Industries

      2. 4.1.2 Other Drivers

    2. 4.2 Restraints

      1. 4.2.1 Stringent Government Regulations

      2. 4.2.2 Impact of COVID-19

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 Dead-Burned Magnesia

      2. 5.1.2 Fused Magnesia

      3. 5.1.3 Other Types

    2. 5.2 Application

      1. 5.2.1 Agriculture

      2. 5.2.2 Chemical

      3. 5.2.3 Construction

      4. 5.2.4 Refractory

      5. 5.2.5 Other Applications

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Merger and Acquisitions, Joint ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%)**/Ranking Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Baymag

      2. 6.4.2 Calix Inc

      3. 6.4.3 Grecian Magnesite

      4. 6.4.4 Haicheng Xiyang Magnesium Ltd

      5. 6.4.5 Houying Group

      6. 6.4.6 Liaoning BeiHai Industries Group Co., Ltd

      7. 6.4.7 Magnesitas Navarras S A

      8. 6.4.8 Magnezit

      9. 6.4.9 RHI Magnesita N.V.

      10. 6.4.10 Sibelco Australia Limited

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The Magnesite Market market is studied from 2016 - 2026.

The Magnesite Market is growing at a CAGR of >5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Asia Pacific holds highest share in 2020.

Grecian Magnesite , Sibelco Australia Limited, Baymag, RHI Magnesita GmbH, Magnezit Group are the major companies operating in Magnesite Market.

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