Skip to main content

Pyroxenite Market Plays Important Role In Steel & Iron Industry, Analysis By 2025

Pyroxenite Market - Pyroxenite is an ultrabasic rock that consists of minerals that belong to the pyroxenes group– predominantly, ferromagnesian minerals other than olivine. Ferromagnesian minerals is a commercial source of magnesia coupled with silica, particularly used in metallurgy applications. Pyroxenite is used as a fluxing as well as sintering agent in blast furnace operations, particularly in the steel & iron industry. Pyroxenite offers several benefits over dolomite, which also is used as a fluxing agent in the steel manufacturing process. Pyroxenite aids in increasing the productivity of this process by 4%–5% and helps in reducing the usage of dolomite. In addition, it helps in reducing the coke content, due to its high content of minerals such as magnesium oxide and silica content in an assimilated form. This further reduces the energy consumption and carbon dioxide emissions. Apart from the steel industry, pyroxenite is used in the construction industry, particularly for building the kitchen counter tops, interior decorations, and walls.

Based on grade, the pyroxenite market can be bifurcated into Grade-I and Grade-II. Grade-I pyroxenite is composed of the following minerals: MgO (30%–34%), SiO2 (50%–55%), Al2O3 (1%–2%), CaO (less than 1.5), and Cr2O3 (0.7%–1.2%); whereas Grade-II pyroxenite comprises MgO (34%–38%), SiO2 (30%–35%), Al2O3 (1.5%–3%), CaO (less than 1.5), and Cr2O3 (4%–7%). Grade-II pyroxenite contains a nominal amount of silica and magnesia content, which reduces the sintering temperature by 100°C. Also, it does not require pre-heating treatment, which reduces the energy consumption and results in lower amount of coke and CO2 and lower slag volume. 
However, the use of Grade-I pyroxenite is restricted in low-silica iron ores due to presence of high silica content, which leads to excessive slag formation. Thus, demand for Grade-II pyroxenite is expected to rise significantly during the forecast period. This is attributed mainly to its characteristic features. Furthermore, demand for Grade-I pyroxenite is anticipated to rise moderately in high-iron ore operations during the forecast period.
Pyroxenite plays an important role in the steel & iron industry. Rise in demand for cutting the manufacturing costs and increasing the production capacity is the primary factor driving the pyroxenite market. Continuous focus on high-value steels provides the manufacturer with a competitive edge to opt for quality material. This further enhances the growth prospects of the pyroxenite market. Rising prices of raw materials, high production costs and increased mining activities are some of the factors hindering the growth of the market for pyroxenite. However, development of new products for faster execution in construction projects, recovery of the automotive steel sector, and focus on the new markets are factors anticipated to offer new opportunities for players operating in the pyroxenite market.
Geographically, the global market for pyroxenite can be segregated into Europe, Asia Pacific, North America, Latin America, and Middle East & Africa. Asia Pacific, North America, and Europe are expected to dominate the global pyroxenite market during the forecast period. In terms of production of steel, China is a leading market for pyroxenite, followed by Japan, the U.S., India, South Korea, and Germany. For the last few years, the market size of the steel & iron industry has been declining, due to over-production and price drop. This, in turn, is impacting the pyroxenite market as well. In terms of consumption of pyroxenite, China dominates the pyroxenite market in Asia Pacific, due to the rise in consumption of steel, particularly in the construction industry in the country.
Get accurate market forecast and analysis on the Pyroxenite Market. Request a sample to stay abreast on the key trends impacting this market @ http://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=24923
Furthermore, rising investments in the infrastructure and decreased dependence on industrial imports are factors fueling the pyroxenite demand in China. The demand for pyroxenite in the U.S., Germany, and France is also likely to increase in the next few years, due to rising demand for steel in automotive, pipelines, machinery & equipment, and motor industries in these countries. Steel manufacturers in developing economies in Latin America and Middle East & Africa are entering into partnerships to develop good-quality steel products that would meet the specific needs of different industrial applications.
Major players operating in the global pyroxenite market are Tata Steel, Bharat Mining Company, Foskor (Pty) Ltd., and Vale SA.

Comments

Popular posts from this blog

Global Epoxy Curing Agents Market - Projected to Scale-Up by construction, adhesive, Wind Energy Application to 2022.

“Global Epoxy Curing Agents Market Market Professional Survey Report 2017-2022” Purchase This Report by calling ResearchnReports.com at +1-888-631-6977. Global Epoxy Curing Agents market   Report is a professional and in-depth research report on the world’s major regional market conditions of the Epoxy Curing Agents market, focusing on the main regions (North America, Europe and Asia) and the main countries (United States, Germany, Japan and China). Based on application, the wind energy segment is projected to witness the highest growth from 2017 to 2022, both in terms of value and volume. Wind blades manufacturing is one of the major applications for epoxy curing agents. The depletion of fossil fuels and their volatile prices have resulted in increased energy cost with rise in demand. This research report provides an in-depth analysis of the global Epoxy Curing Agents Market based on enterprise size, services, solution, end-use industry, and geography. The report also prov...

Glass Fiber Reinforced Gypsum Market - Global Insights, Growth, Size, Comparative Analysis, Trends and Forecast, 2017-2025

Glass Fiber Reinforced Gypsum (GFRG) is a composite application utilizing naturally occurring mineral gypsum combined with reinforcing fibers. It may also contain polymers to increase product strength. The molding process can be either hand lay-up or a chopped strand spray method. Stereotypically, the end product is used for indoor applications with negligible exposure to moisture or other environmental elements. Completed composites are in the form of ornamental or decorative columns, pillars and facades. With the slowdown in world economic growth, the global market has also suffered a certain impact, but still maintained a relatively optimistic growth. In terms of revenue, the Global Glass Fiber Reinforced Gypsum Market was valued at US$ 458.49 Mn in 2016 and is expected to reach US$ 888.35 Mn by 2025, expanding at a CAGR of 7.6% from 2017 to 2025. The Global Glass Fiber Reinforced Gypsum Market is boosted by factors such as: ·       ...

Global Arcylamide Market for Applications like Waste & Wastewater Treatment, Pulp & Paper, Printing & Dyeing, Solid Crystalline - Analysis of Top Key Players and Forecast to 2022

This report comprises a comprehensive outline of the current state of the   Global Arcylamide market   and projects its growth and every other central elements across major provincial markets. It presents an immense amount of market information that has been collected with the help of countless number of prime and subordinate research techniques. The statistics of this report has been tapered down using numerous industry based analytical procedures. An in depth synopsis of key market drivers, inclinations, manacles are provided and the study analyzes the way they shake the Global Arcylamide market in an affirmative as well as an adverse way. The topographies which are enclosed in this report are North America, Europe, Asia Pacific, Middle East & Africa and Latin America. Taking into consideration the given prediction period and specifically studying each and every data annually, a report is been enlisted to ensure the data is well anticipated by clients. Increasing u...