Market Dynamics:
The global dolomite market is witnessing high growth owing to increasing demand from the steel industry. Dolomite acts as a fluxing agent in steel production that improves productivity of steel manufacturing process. As per the World Steel Association, the global steel production reached 1,864 million tonnes in 2020 and is expected to grow at a CAGR of 2.7% from 2021 to 2050. Growing steel production is augmenting the demand for dolomite from the sector. Furthermore, dolomite is used as an aggregate in cement which finds application in construction industry. According to Oxford Economics, the global construction industry output is projected to grow by 85% to reach US$ 15.2 trillion by 2030. Thus, expansion of construction sector will further propel the dolomite market growth over the forecast period.

Key Takeaways

The Global Dolomite Market Size is expected to witness high growth over the forecast period supported by construction sector growth. The global dolomite market is estimated to be valued at US$ 3,088.79 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030.

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