‘Global Pyrite Market Report and Forecast 2023-2028’ by Market Research Expert provides a broad view of the global world share of the pyrite marketevaluating the market on the basis of its segments such as types, end-uses and major regions.
The report studies the latest updates in the market along with their impact on the market. It also analyzes market demand, along with its price and demand indicators. The report also tracks the market based on SWOT and Porter’s Five Forces models.
Highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 1.3%
Pyrite is widely used in the production of rubber, which is witnessing significant demand from various end-use industries such as automotive and construction. It is also an essential component in the acid production industry, which is a major driving factor for the pyrite market.
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Growing applications of pyrite for production of sulfuric acid is fueling the growth of the pyrite market. During the forecast period, growth in the market for sulfuric acid in the agriculture sector for the production of fertilizers and various agricultural chemicals is likely to add to the forecasted demand.
Meanwhile, pyrite is also used in the paper industry. In this regard, increasing bulk paper orders from the education sector and increased demand for diapers and security papers, among others, are likely to accelerate applications of pyrite in the paper sector.
In addition, pyrite is widely used to produce amber-colored glasses. These glasses are most commonly used in the production of drinking glasses. Hence, the thriving consumer and beverage industry is further boosting the global pyrite market.
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Regionally, Asia Pacific holds a significant share of the market. The booming paper packaging industry across developing economies such as India and China is generating significant demand for pyrite. Moreover, the traditional craze for jewelery made with precious stones is another major factor boosting the market in the region.
Pyrite Industry Definition and Key Segments
Pyrite refers to a type of mineral that contains iron sulfide, which appears bronze-yellow in color. This mineral has a metallic luster and a high specific gravity. Pyrite is extremely abundant in soil and is commonly found in sedimentary rocks. Pyrite can be carved into attractive shapes, which makes it a popular gemstone for jewelry making.
By type, the pyrite market can be segmented into:
Pyrite cube
Rainbow pyrite
The sun drinks
Pyrite Cathedral
Pyrite Dollar
Pyritohedron
Others
The market can be broadly categorized based on end use into:
Consumer Goods
CHEMICAL
paper
Others
On the basis of region, the market can be categorized into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Pyrite Market Trends
Key trends in the global pyrite market include increasing research and development activities by scientists and researchers aimed at finding environmentally friendly ways to extract gold from the mineral pyrite. The bio-leaching process, which involves the extraction of gold from pyrite, is considered to be an environmentally friendly and extremely efficient process.
In addition to these developments, technological advances in mineral extraction equipment that enable efficient and rapid detection of impurities can increase the efficiency of the gold discovery process. Moreover, the display of 3D mapping is another crucial advancement that is likely to speed up the process of gold mining.
Pyrite is also a key component in the manufacturing process of brake pads which are used in the automotive and industrial equipment manufacturing industries. Therefore, increasing sales of electric vehicles and rapid industrialization across developing economies are anticipated to be the major trends boosting the pyrite market.
Moreover, the growing innovations in the jewelry market are some of the critical trends for the pyrite market, which are attracting the attention of potential customers inclined towards high-quality gold jewelry. Developments such as these are likely to drive the demand for pyrite over the forecast period. Additionally, the jewelry market is further supported by the e-commerce industry which is further aiding the demand for gemstone jewelry.
Major market players
Key Players in the Pyrite Market Report are:
Veneta Mineraria Spa
Hickman, Williams & Company
Justo Gems SAC
Foshan Pyrite Mineral Materials Co., Ltd.
Minerals Company of Pakistan
Others
The report covers market shares, capacities, plant turnarounds, expansions, investments, and mergers and acquisitions, among other recent developments of these market players.
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