According to a new market report published by Lucintel, the future of the global magnetite market looks promising with opportunities in the iron and steel and medication industries. The global magnetite market is expected to reach an estimated $132.7 billion by 2027 with a CAGR of 2.9% from 2021 to 2027. The major drivers for this market are growing demand for high grade iron ore, increasing production of steel in China, growth in building and infrastructure development, and rapid industrialization.
In this market, natural and synthetic magnetite materials are used as a raw material for iron and steel and medication industries. Natural magnetite will remain the largest segment due to increasing production of iron and steel. Synthetic magnetite market is expected to witness the highest growth over the forecast period due to increasing demand for iron oxide pigment in ink and coating application.
Within the magnetite market, iron and steel will remain the largest end use industry over the forecast period due to growth in building and construction, automotive production, and rapid industrialization in emerging economies.
APAC will remain the largest region over the forecast period, as China, India, and Japan are the major producers of steel. Increasing investment in building and infrastructure market by the Chinese government and growth in automotive, shipbuilding, machinery, engineering, and consumer good will drive the demand for iron and steel in the APAC region.
Rio Tinto, BHP Billiton, Vale S.A., Atlas Iron Limited, Fortescue Metals Group, Cap-Ex Ventures, Labrador Iron Mines, Champion Minerals, Cliffs Natural Resources, and Cathay industries are among the major magnetite manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global magnetite market by end use industry, product type, and region and has come up with a comprehensive research report titled “Growth Opportunities in the Global Magnetite Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes trend and forecast for the global magnetite market by product type, end use industry, and region as follows:
By End Use Industry [Value ($M) and Volume (Million Tons) shipment analysis from 2016 to 2027]:
· Iron and Steel
· Medication
· Others
By Product [Value ($M) and Volume (Million Tons) shipment analysis from 2016 to 2027]:
· Natural Magnetite
· Synthetic Magnetite
By Region [Value ($M) and Volume (Million Tons) shipment analysis for 2016 – 2027]:
· North America
– United States
– Canada
– Mexico
· Europe
– France
– Germany
– Italy
· Asia Pacific
– Japan
– China
– India
- The Rest of the World
Browse 68 market data tables and 107 figures spread through 205 pages and in-depth TOC on “Market"
To download report brochure, please go to https://www.lucintel.com/ and click "report brochure" tab from the menu. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/magnetite-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1 What are some of the most promising, high-growth opportunities for the global magnetite by end use industry (iron and steel, medication, and others), product type (natural and synthetic), by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?