Magnesite is a magnesium carbonate (MgCO3) mineral occurring as veins in magnesium-rich rocks such as ultramafic rocks and serpentinite. It is very brittle and has a vitreous shine with colors ranging from colorless or white when pure to pale yellow, pale brown, faintly pink, and lilac rose.

Magnesite is used in end-use industries such as construction, chemical, industrial, and agriculture. Large quantities of magnesite is burnt to make magnesium oxide, which is an important refractory material used as a lining in blast furnaces, kilns, and incinerators, as a binder in flooring material in the construction industry. Magnesite is used as a catalyst and filler in manufacturing of synthetic rubber and in the preparation of magnesium chemicals and fertilizers.

Other major countries for magnesite mining are Brazil, Greece Slovakia, Turkey, Australia, India, Russia, Austria and Spain. According to Indian Minerals Yearbook 2015, the total reserves/resources of magnesite as per UNFC system by 2013, were about 328 million tons, of which reserves and remaining resources are 21 million tons and 307 million tons, respectively. According to the European Association of Mining Industries, Metal Ores, and Industrial Minerals.

Market Dynamics
A major driver for the global magnesite market growth is increasing growth in the construction sector. According to Global Construction Perspectives and Oxford Economics, in 2015, the global construction market is set to grow by US$ 8 trillion by 2030, reaching a total size of US$ 17.5 trillion and increasing by an average annual rate of 3.9% to 2030. Rising construction sector demands cement and other construction materials such as magnesite, which is contributing towards the global magnesite market growth.

Market Outlook
According to global magnesite market analysis, North America held the dominant position in the market in 2017. North America is projected to maintain its dominance throughout the forecast period owing to magnesite demand from the construction industry.

Based on end-use industry, the construction segment is projected to gain major traction over the forecast period, owing to increasing use of magnesite for application in this sector. This is due to exceptional refractory properties of magnesite useful in steelmaking, metallurgical, and ceramic processes. The use of magnesite as a cement additive is also gaining popularity in the construction industry.

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Market Taxonomy
On the basis of products, global magnesite market is segmented into:
• Magnesite Ore
• Fused Magnesia
• Dead-burned Magnesia
On the basis of end-use industry, global magnesite market is segmented into:
• Construction
• Chemical
• Industrial
• Agriculture

Major Keyplayers: Calix,Magnezit, Grecian Magnesite Houying Group, Baymag, Grecian Magnesite, Magnesium Group, Liaoning Wancheng, Haicheng Xiyang Magnesium Ltd., Magnesita, Ramakrishna Magnesite Mines

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