According to the recent study the magnetite market is projected to reach an estimated $132.7 billion by 2027 from $111.5 billion in 2021, at a CAGR of 2.9% from 2021 to 2027. Growth in this market is primarily driven by growing demand for high grade iron ore, increasing production of steel in China, growth in building and infrastructure development, and rapid industrialization.

Browse 107 figures / charts and 68 tables in this 205 -page report to understand trends, opportunities and forecast in magnetite market 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).

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“Iron and steel market is expected to remain the largest segment during the forecast period.”

Based on end use industry, the magnetite market is segmented into iron and steel, medication, and others. Lucintel forecasts that the iron and steel market is expected to remain the largest segment due to growth in building and construction, automotive production, and rapid industrialization in emerging economies.

“Within the magnetite market, the natural magnetite segment is expected to remain the largest product type”

Based on product type the natural magnetite segment is expected to witness the highest growth over the forecast period due to increasing production of iron and steel.

“Asia pacific will dominate the magnetite market in near future”

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.

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Major players of magnetite market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Atlas Iron Limited, Fortescue Metals Group, BHP Billiton, Rio Tinto, Cap-Ex Ventures, Labrador Iron Mines, Champion Minerals, Cliffs Natural Resources, Vale S.A., Cathay Industries, and Cosmo AM&T are among the major magnetite providers.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. 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 helpdesk@lucintel.com