The study on minerals and developments in the geological and geoscience sector coupled with increasing adoption of pyroxenite in a host of applications, including production of iron & steel, building stone, metal, and countertops, among others, are a leading factor expected to provide an impetus for the overall growth of the pyroxenite market in the forthcoming years. With considerable studies being carried out by researchers and scientists related to overall properties of pyroxenite, its source, and potential scope in the future, the overall prospects of the global pyroxenite market offer a positive outlook.
Studies have revealed that different types of pyroxentites have different origins, including re-fertilization of peridotite, crystal liquid accumulation, recycling of lower crystal restites, and cumulate and metasomatic process. In addition, as pyroxenites constitute of ferromagnesian minerals apart from olivine, interest levels for the mineral among stakeholders continues to witness a remarkable growth. As per current observations, the growing adoption of pyroxenite and dunite as a fluxing agent in blast furnace instead of dolomite, along with high demand for sintering, is a trend that is expected to further provide a considerable boost to the growth of the global pyroxenite market, which is expected to reach ~US$ 150 Mn by the end of 2030.
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The demand for pyroxenite and dunite is projected to witness substantial growth during the assessment period, as these two minerals are increasingly being used over dolomite as a source of magnesium oxide across the iron & steel industry worldwide. In addition, olivine offers several advantages over dolomite in slag conditions, including higher magnesium oxide content, low coke and energy consumption, decreased slag volume, and considerably lower carbon dioxide emission. The growing demand for olivine is one of the leading factors that is expected to provide a notable boost to the overall growth of the pyroxenite market.
The iron & steel sector is likely to remain the primary consumer of pyroxenite and dunite during the assessment period. Over the past few years, the consumption of both, dunite and pyroxenite in the organized sector, particularly in nations, including India and China has witnessed a noteworthy growth and the trend is expected to continue during the forecast period. The Ferro Alloy industries are also expected to provide an array of opportunities for participants operating in the pyroxenite market landscape.
Apart from augmenting demand from the iron & steel sector, research & development activities are expected to influence the growth trajectory of the pyroxenite market during the assessment period. As promising results from research and development activities are gradually opening up new potential avenues for the application of pyroxenite, investments are projected to grow at a commendable pace.
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North America and Latin America are expected to be at the forefront in terms of market share and value due to a host of factors, including rapid industrialization in nations such as Brazil, Argentina, Mexico, etc. The booming iron & steel sector in the region is another factor that is expected to provide abundant opportunities for participants operating in the current pyroxenite market landscape.
While the iron & steel sector is projected to dominate the global pyroxenite market, the construction industry has gradually emerged as promising sector wherein the adoption of pyroxenite is witnessing consistent growth. In addition, due to advancements in production technology and research, the demand from the automotive sector has increased over the past few years– a trend that is likely to shape the growth of the pyroxenite market during the forecast period.
The novel COVID-19 pandemic is expected to have a short-term impact on the overall growth of the global pyroxenite market. Although the production of steel continues to remain unaffected by the novel coronavirus, the decline in demand is evident and the supply-demand gap continues to widen in 2020. The declining demand for iron & steel can be primarily attributed to lockdowns imposed by governments around the world as a measure to contain transmission of COVID-19 infection due to which, several small- to medium-sized industries have remained shut. In addition, as steel production and allied activities, including mining, are covered under the Essential Commodities Act in various nations around the world, the declining demand is expected to hinder the overall growth of the global pyroxenite market, particularly in 2020.
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Analysts’ Viewpoint
The global pyroxenite market is expected to grow at a sluggish CAGR of ~2% during the forecast period. The market growth will be primarily linked to the growing adoption from the iron & steel industry, optimal functional and physical properties compared with dolomite, widening applications in other industrial sectors, including construction and automotive, research and development, and advancements in technology. The booming iron & steel industry in developing regions of Latin America and Asia Pacific will provide abundant opportunities for players operating in the market for pyroxenite during the forecast period. The COVID-19 pandemic is projected to affect operations across the market in the second and third quarter of 2020, due to dwindling demand for iron & steel coupled with stringent lockdown norms.
Pyroxenite Market: Overview
Growth Drivers of Pyroxenite Market
Major Challenges for Pyroxenite Market
Lucrative Opportunities for Pyroxenite Market
Asia Pacific to Dominate Pyroxenite Market
Iron & Steel Making Segment Holds Key Share of Pyroxenite Market
Market Players Engage in R&D Activities and Expansion of Production Capacities
Pyroxenite Market – Segmentation
TMR’s research study assesses the global pyroxenite market in terms of application and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects for the global pyroxenite market.
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1. Executive Summary
1.1. Pyroxenite Market Snapshot
1.2. Key Market Trends
1.3. Current Market and Future Potential
1.4. TMR’s Growth Opportunity Wheel
2. Market Overview
2.1. Market Segmentation
2.2. Market Indicators
2.3. Market Definitions
2.4. Market Dynamics
2.4.1. Drivers
2.4.2. Restraints
2.4.3. Opportunities
2.5. Porter’s Five Forces Analysis
2.6. Value Chain Analysis
2.6.1. List of Potential Customers
2.7. Global Pyroxenite Market Analysis and Forecast, 2019–2030
2.8. Global Pyroxenite Market Attractiveness, by Application
3. Pyroxenite Market Production Outlook
4. Pyroxenite Production Cost Analysis
5. Pyroxenite Price Trend Analysis, 2019–2030
5.1. By Application
5.2. By Region
6. Global Pyroxenite Market Analysis and Forecast, by Application, 2019–2030
6.1. Introduction and Definitions
6.2. Global Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
6.2.1. Iron & Steel Making
6.2.2. Countertops/Kitchen
6.2.3. Building Stone/Dimension Stone
6.2.4. Aggregate
6.2.5. Others
6.3. Global Pyroxenite Market Attractiveness, by Application
7. Global Pyroxenite Market Analysis and Forecast, by Region, 2019–2030
7.1. Key Findings
7.2. Global Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Region, 2019–2030
7.2.1. North America
7.2.2. Europe
7.2.3. Asia Pacific
7.2.4. Latin America
7.2.5. Middle East & Africa
7.3. Global Pyroxenite Market Attractiveness, by Region
8. North America Pyroxenite Market Analysis and Forecast, 2019–2030
8.1. Key Findings
8.2. North America Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
8.3. North America Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Country, 2019–2030
8.3.1. U.S. Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
8.3.2. Canada Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
8.4. North America Pyroxenite Market Attractiveness Analysis
9. Europe Pyroxenite Market Analysis and Forecast, 2019–2030
9.1. Key Findings
9.2. Europe Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.3. Europe Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
9.3.1. Germany Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.3.2. France Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.3.3. U.K. Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.3.4. Italy Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.3.5. Spain Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.3.6. Russia & CIS Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.3.7. Rest of Europe Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
9.4. Europe Pyroxenite Market Attractiveness Analysis
10. Asia Pacific Pyroxenite Market Analysis and Forecast, 2019–2030
10.1. Key Findings
10.2. Asia Pacific Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
10.3. Asia Pacific Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
10.3.1. China Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
10.3.2. India Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
10.3.3. Japan Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
10.3.4. ASEAN Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
10.3.5. Rest of Asia Pacific Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
10.4. Asia Pacific Pyroxenite Market Attractiveness Analysis
11. Latin America Pyroxenite Market Analysis and Forecast, 2019–2030
11.1. Key Findings
11.2. Latin America Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
11.3. Latin America Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
11.3.1. Brazil Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
11.3.2. Mexico Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
11.3.3. Rest of Latin America Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
11.4. Latin America Pyroxenite Market Attractiveness Analysis
12. Middle East & Africa Pyroxenite Market Analysis and Forecast, 2019–2030
12.1. Key Findings
12.2. Middle East & Africa Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
12.3. Middle East & Africa Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
12.3.1. GCC Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
12.3.2. South Africa Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
12.3.3. Rest of Middle East & Africa Pyroxenite Market Volume (Kilo Tons) and Value (US$ Thousand) Forecast, by Application, 2019–2030
12.4. Middle East & Africa Pyroxenite Market Attractiveness Analysis
13. Competition Landscape
13.1. Global Pyroxenite Company Market Share Analysis, 2019
13.2. Company Profiles (Details – Overview, Financials, Recent Developments, and Strategy)
13.2.1. Tata Steel Ltd
13.2.1.1. Company Description
13.2.1.2. Business Overview
13.2.1.3. Financial Overview
13.2.1.4. Strategic Overview
13.2.2. Bharat Mining Company
13.2.2.1. Company Description
13.2.2.2. Business Overview
13.2.3. Foskor (Pty) Ltd.
13.2.3.1. Company Description
13.2.3.2. Business Overview
13.2.3.3. Financial Overview
13.2.3.4. Strategic Overview
13.2.4. TVI Resource Development Philippines Inc.
13.2.4.1. Company Description
13.2.4.2. Business Overview
13.2.5. Aegis Group
13.2.5.1. Company Description
13.2.5.2. Business Overview
14. Primary Research: Key Insights
15. Appendix
List of Tables
Table 1 Global Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 2 Global Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 3 Global Pyroxenite Market Volume (Kilo Tons) Forecast, by Region, 2019–2030
Table 4 Global Pyroxenite Market Value (US$ Thousand) Forecast, by Region, 2019–2030
Table 5 North America Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 6 North America Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 7 North America Pyroxenite Market Volume (Kilo Tons) Forecast, by Country, 2019–2030
Table 8 North America Pyroxenite Market Value (US$ Thousand) Forecast, by Country, 2019–2030
Table 9 U.S. Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 10 U.S. Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 11 Canada Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 12 Canada Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 13 Europe Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 14 Europe Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 15 Europe Pyroxenite Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2019–2030
Table 16 Europe Pyroxenite Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
Table 17 Germany Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 18 Germany Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 19 U.K. Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 20 U.K. Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 21 France Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 22 France Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 23 Italy Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 24 Italy Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 25 Spain Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 26 Spain Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 27 Russia & CIS Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 28 Russia & CIS Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 29 Rest of Europe Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 30 Rest of Europe Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 31 Asia Pacific Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 32 Asia Pacific Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 33 Asia Pacific Pyroxenite Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2019–2030
Table 34 Asia Pacific Pyroxenite Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
Table 35 China Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 36 China Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 37 Japan Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 38 Japan Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 39 India Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 40 India Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 41 ASEAN Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 42 ASEAN Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 43 Rest of Asia Pacific Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 44 Rest of Asia Pacific Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 45 Latin America Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 46 Latin America Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 47 Latin America Pyroxenite Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2019–2030
Table 48 Latin America Pyroxenite Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
Table 49 Brazil Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 50 Brazil Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 51 Mexico Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 52 Mexico Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 53 Rest of Latin America Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 54 Rest of Latin America Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 55 Middle East & Africa Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 56 Middle East & Africa Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 57 Middle East & Africa Pyroxenite Market Volume (Kilo Tons) Forecast, by Country and Sub-region, 2019–2030
Table 58 Middle East & Africa Pyroxenite Market Value (US$ Thousand) Forecast, by Country and Sub-region, 2019–2030
Table 59 GCC Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 60 GCC Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 61 South Africa Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 62 South Africa Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
Table 63 Rest of Middle East & Africa Pyroxenite Market Volume (Kilo Tons) Forecast, by Application, 2019–2030
Table 64 Rest of Middle East & Africa Pyroxenite Market Value (US$ Thousand) Forecast, by Application, 2019–2030
List of Figures
Figure 1 Global Pyroxenite Price Trend, by Application, 2019–2030 (US$/Ton)
Figure 2 Global Pyroxenite Price Trend, by Region, 2019–2030 (US$/Ton)
Figure 3 Global Pyroxenite Market Volume Share, by Application, 2019, 2025, and 2030
Figure 4 Global Pyroxenite Market Attractiveness, by Application
Figure 5 Global Pyroxenite Market Volume Share, by Region, 2019, 2025, and 2030
Figure 6 Global Pyroxenite Market Attractiveness, by Region
Figure 7 North America Pyroxenite Market Volume Share, by Application, 2019, 2025, and 2030
Figure 8 North America Pyroxenite Market Attractiveness, by Application
Figure 9 North America Pyroxenite Market Volume Share, by Country, 2019, 2025, and 2030
Figure 10 North America Pyroxenite Market Attractiveness, by Country
Figure 11 Europe Pyroxenite Market Volume Share, by Application, 2019, 2025, and 2030
Figure 12 Europe Pyroxenite Market Attractiveness, by Application
Figure 13 Europe Pyroxenite Market Volume Share, by Country and Sub-region, 2019, 2025, and 2030
Figure 14 Europe Pyroxenite Market Attractiveness, by Country and Sub-region
Figure 15 Asia Pacific Pyroxenite Market Volume Share, by Application, 2019, 2025, and 2030
Figure 16 Asia Pacific Pyroxenite Market Attractiveness, by Application
Figure 17 Asia Pacific Pyroxenite Market Volume Share, by Country and Sub-region, 2019, 2025, and 2030
Figure 18 Asia Pacific Pyroxenite Market Attractiveness, by Country and Sub-region
Figure 19 Latin America Pyroxenite Market Volume Share, by Application, 2019, 2025, and 2030
Figure 20 Latin America Pyroxenite Market Attractiveness, by Application
Figure 21 Latin America Pyroxenite Market Volume Share, by Country and Sub-region, 2019, 2025, and 2030
Figure 22 Latin America Pyroxenite Market Attractiveness, by Country and Sub-region
Figure 23 Middle East & Africa Pyroxenite Market Volume Share, by Application, 2019, 2025, and 2030
Figure 24 Middle East & Africa Pyroxenite Market Attractiveness, by Application
Figure 25 Middle East & Africa Pyroxenite Market Volume Share, by Country and Sub-region, 2019, 2025, and 2030
Figure 26 Middle East & Africa Pyroxenite Market Attractiveness, by Country and Sub-region
Figure 27 Global Pyroxenite Market Share Analysis, by Company, 2019