Automotive Adhesives & Sealants Market Overview
Key drivers for this growth include increased usage in metallurgy, rising demand in the foundry industry, and the expansion of hightemperature industrial applications such as kilns and furnaces. Olivine is a group of rock-forming minerals primarily found in mafic and ultramafic igneous rocks. Composed mainly of magnesium iron silicate (Mg2SiO4 to Fe2SiO4), olivine is easily identifiable by its green coloration and crystalline texture. These minerals typically crystallize in tandem with pyroxene and plagioclase, forming rocks like basalt and gabbro. Olivine is primarily mined for industrial purposes such as foundry sand, refractory materials, and metallurgical processes. It is commonly located in geologically active regions such as divergent tectonic plate boundaries and volcanic hotspots.
Market Value & Growth Projections
Market Value & Growth
Projections: • Market Value in 2024: $144 million
Projected Value by 2031$184 million
CAGR 3.6% (2024–2031)
Key Market Drivers:
Market Segmentation
Type
30-100 Mesh
100-270 Mesh By Application
Foundry Molding Sand
Metallurgical Auxiliary Material
By Region
Key Market Players
Steinsvik Olivin
Sibelco
Dakduklu Minerals
Olivine India
Group
Regional Market Analysis
North America
Stable market with high consumption of olivine in foundries.
Growing application in aerospace and automotive sectors.
Europe
Holds the lion's share, with 70% of global revenue in 2019.
High concentration of foundries and metallurgical industries.
Key markets include Germany, France, UK, and Nordic countries.
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