Global Magnesite Market Was Valued At $8 Billion In 2017 According To TBRC’s Latest Report
Posted July 31, 2018 by sainath
Asia Pacific was the largest geographic region accounting for $2.8 billion or 37.7% of the global market. The USA was the largest country accounting for $1.4 billion or 19.0% of the global magnesite market.
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The global magnesite market was valued at $8 billion in 2017. Among regional markets, Asia Pacific was the largest geographic region in the market, accounting for more than one-third of the global market share. The market saw a growth as the use of renewable energy is helping magnesite mining companies to reduce energy consumption and control emissions in the mines. As the solar or wind projects are built close to the mine sites, the cost of connecting to the power grid is also reduced. Site-appropriate renewable energy sources are reliable, consistent and also economical. BHP Billiton, RioTinto, and Barrick Gold have started implementation of renewable energy sources in their mines.
The market in the report is segmented into: magnesite ore, dead-burned magnesia, fused magnesia and other magnesite.
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The USA was the largest country in the market, accounting for one-fifth of the global magnesite market share. This can be attributed to the country’s economic power, abundant mineral resources, increased energy demand, and high government and private expenditure in the manufacturing industry. The USA was followed by India and Japan as the next largest countries in the market.
The top three competitors in the market are: BHP Billiton followed by RioTinto and Barrick Gold. BHP Billiton plc, an Anglo-Australian multinational, is headquartered in Melbourne, Victoria, Australia. It was founded in 1885.
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| Tags | deadburned magnesia market report , fused magnesia market report , magnesite global market report 2018 , magnesite market report , magnesite ore market report |
| Last Updated | July 31, 2018 |