Global Magnesium Olivine Sand Powder Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Magnesium Olivine Sand Powder Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Market Overview:

The latest research study on the global Magnesium Olivine Sand Powder market finds that the global Magnesium Olivine Sand Powder market reached a value of USD 474.14 million in 2022. It’s expected that the market will achieve USD 665.57 million by 2028, exhibiting a CAGR of 5.82% during the forecast period.

Impact of Covid 19 on Chemicals and Advanced Material Industry

With the spread of Covid 19 in the world, the reduction of foreign trade demand orders, the decline in production capacity, superimposed factors such as large fluctuations in the crude oil market and violent shocks in the financial market, the transportation industry has been hit, resulting in severe challenges to the global industrial chain. The closure of factories in many regions and countries has hindered shipments. This situation has seriously weakened the development of Chemicals and Advanced Material Industry worldwide.
Chemicals and Advanced Material Industry are upstream industries in the entire industry chain. In countries with severe outbreaks of Covid 19, the decline in consumer power will lead to a decline in demand for terminal products, which will gradually impact the demand of the upstream material industry, and manufacturing activities have been greatly reduced. Covid 19's impact on the export of Chemicals and Advanced Material Industry products cannot be ignored.
From the perspective of the industrial chain, the upstream chemical industry involves extraction and refining. It has a large production inertia and often has stocks of raw materials. In the short term, it will be limited by the impact of Covid 19, and the middle and lower reaches will be hit harder. As an intermediate product, midstream companies rely heavily on logistics. In addition to relying on the front-end supply chain, downstream companies have greatly increased labor intensity. Midstream and downstream chemical companies have been most affected by the epidemic. Therefore, although the output value of Chemicals and Advanced Material Industry is affected, the impact is limited. And although some countries are seriously affected by Covid 19, normal production activities are not significantly disturbed, and the supply is relatively stable.
Even after Covid 19 was brought under control, logistics efficiency slowly began to improve, but it still took a long time for various industries around the world to return to normal levels. In general, the impact on Chemicals and Advanced Material Industry reflected in the revenue performance after the second quarter.

Market Risk

The main raw material of forsterite sand powder is natural olivine [(Mg, Fe) 2 • SiO4]. In the global market, fluctuations in raw material prices will affect the production costs of the forsterite powder industry, which in turn will affect the entire market.
Under the influence of the current new coronary pneumonia, countries' isolation measures to control the epidemic have pressed the pause button on the economy, thus putting pressure on both the consumer and production sides. It also has a huge impact on the global supply chain. The epidemic has reduced business revenue and affected confidence. As a result of the slowdown in global economic growth, the forsterite sand powder industry has also been affected to a certain extent.
The price gap between different brands of Magnesium Olivine Sand Powder will gradually narrow. In addition, under the influence of the economy, gross profit margins also fluctuated. In order to occupy a larger market share, the major players of Magnesium Olivine Sand Powder in the world have become more competitive.

Region Overview:

From 2023-2028, Asia-Pacific is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Sibelco, Ore-Met and Olivine India with the revenue market share of 18.39%, 5.24% and 1.90% in 2018.

Sibelco is a global material solutions company. We utilize nature’s raw materials to provide solutions for society and support the cradle-to-cradle loop. From drinking water sanitation to solar technology, every day our materials work as essential components in the progress of society.

Ore-met Mining, which started with barite mining, was followed by magnesite, chrome, bauxite and ultimately olivine, and it was established as a family partnership and today it has become a giant corporation that produces and markets mining and industrial minerals.

Segmentation Overview:

Among different product types, 100-270 Mesh segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the High-temperature Refractory segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Magnesium Olivine Sand Powder market covered in Chapter 3:

Dakduklu Minerals
LTC
Sibelco
Olivine India
Xixia Fengyuan Refractories
Eryas Mining Company
Egamin
Thermolith SA
Steinsvik Olivin
Ore-Met
Scangrit
Shaanxi Sanyuan Minerals

In Chapter 4 and Chapter 14.2, on the basis of types, the Magnesium Olivine Sand Powder market from 2018 to 2029 is primarily split into:

30-100 mesh
100-270 mesh
270-325 mesh
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Magnesium Olivine Sand Powder market from 2018 to 2029 covers:

Foundry Molding Sand
Metallurgical Auxiliary Material
High-temperature Refractory
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)