Global Magnesite Market Was Valued At $8 Billion In 2017 According To TBRC’s Latest Report

Magnesite mining include mining of magnesite ores that is used in pharmaceutical and chemical applications. Magnesite is a whitish mineral consisting of magnesium carbonate, used as a heat-resistant lining...

Magnesite mining include mining of magnesite ores that is used in pharmaceutical and chemical applications. Magnesite is a whitish mineral consisting of magnesium carbonate, used as a heat-resistant lining in some furnaces.

Read More: https://www.thebusinessresearchcompany.com/report/magnesite-global-market-report-2018

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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Industrial Mechanical
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