Olivine Powder and Olivine Sand Market Size, Share, Growth, and Industry Analysis, By Type (30-100 mesh, 100-270 mesh, 270-325 mesh, Others), By Application (Foundry Molding Sand, Metallurgical Auxiliary Material, High-temperature Refractory, Others), Regional Insights and Forecast to 2033

Olivine Powder and Olivine Sand Market Overview

Global olivine powder and olivine sand market size is estimated at USD 153.11 million in 2024 and expected to rise to USD 165.81 million by 2033, experiencing a CAGR of 1.6%.

The global olivine powder and olivine sand market is witnessing increasing traction due to rising industrial applications in metallurgy, refractory materials, and foundry operations. Olivine sand, composed primarily of forsterite (Mg₂SiO₄), has a melting point exceeding 1,800°C, making it suitable for high-temperature industrial environments. In 2024, over 5.7 million metric tons of olivine sand were used globally, with major consumption attributed to foundries and steel plants. Olivine powder, typically ground to mesh sizes ranging from 30 to 325, is also gaining relevance in CO₂ sequestration, where 1 metric ton of olivine can capture approximately 1.25 metric tons of CO₂ through natural weathering. Norway, China, and Turkey remain top producers, with Norway exporting 1.4 million metric tons in 2023 alone. Demand has seen steady increases in Southeast Asia, where refractory production grew by 9.8% year-over-year. Environmental regulations are further boosting demand, as olivine is used to replace chromite-based materials, reducing hexavalent chromium pollution by 100%. The shift toward sustainable materials continues to reinforce olivine’s market position across sectors.

Key Findings

Top Driver reason: Increasing steel production and foundry casting, which together consumed over 3.2 million metric tons of olivine in 2024.

Top Country/Region: Norway accounted for 24.6% of global olivine exports in 2023.

Top Segment: Foundry molding sand held the largest market share in volume with 2.8 million metric tons used globally in 2024.

Olivine Powder and Olivine Sand Market Trends

Olivine powder and olivine sand are experiencing a resurgence in demand due to their versatility and eco-friendly properties. In 2024, global industrial applications increased by 7.4% compared to the previous year. The growing use of olivine in the foundry industry—particularly in iron casting—has been notable, as over 2.8 million metric tons were used for this purpose. Additionally, magnesium content in olivine (typically ranging between 48%–50%) makes it an effective slag conditioner in the steel industry, improving refining efficiency by over 12%.

Another major trend is the adoption of olivine in CO₂ capture technologies. In field trials in the Netherlands, spreading 10,000 tons of finely milled olivine powder resulted in a 13% reduction in surface CO₂ concentrations over 18 months. The construction sector has also started using olivine sand in cement and concrete as an aggregate, reducing emissions by 20 kg CO₂ per ton of material replaced. Furthermore, countries such as India and Vietnam have increased olivine imports by 11.2% and 9.3% respectively to support growing demand in metallurgical and refractory production.

Environmental sustainability is influencing product sourcing, with 36% of olivine used in 2024 certified for sustainable mining practices. End-users in the U.S. and Europe have reported a 19% increase in demand for low-silica refractory substitutes, where olivine offers a silica content below 42%, compared to over 60% in traditional alternatives. These trends continue to shape the growth trajectory of the market.

Olivine Powder and Olivine Sand Market Dynamics

DRIVER

Rising demand for steel and foundry castings

The increasing need for olivine in ferrous foundries and steel manufacturing plants remains the most significant driver. In 2024, the global steel output reached 1.95 billion metric tons, up from 1.88 billion in 2023, and olivine demand grew alongside it. The sand is used in molding processes to improve casting surface quality and resist high thermal loads. More than 2.5 million metric tons of olivine were consumed in grey iron castings globally in 2024. Its low thermal expansion rate, measured at just 7.5 x 10⁻⁶ /°C, reduces casting defects by over 18%. This makes olivine indispensable in high-volume production settings.

RESTRAINT

Limited availability of high-purity olivine sources

High-purity olivine, especially with low iron content (<7%), is scarce and concentrated mainly in Norway and Turkey. In 2023, only 2.3 million metric tons of high-grade olivine were extracted globally, which covered just 38% of demand for applications requiring low-contaminant input. The transportation cost of exporting olivine from Norway to Southeast Asia is $34 per ton, adding significant cost barriers. Additionally, stringent environmental mining laws have limited new site development, with only 3 new olivine mines licensed globally in the last five years.

OPPORTUNITY

Expansion of olivine in carbon capture and agriculture

The carbon capture potential of olivine has opened a promising growth avenue. A pilot project in Iceland spread 15,000 tons of olivine on farmland, which absorbed over 17,000 tons of CO₂ within two years. The agricultural sector is also adopting olivine as a slow-release magnesium fertilizer. Trials in Brazil using olivine with 49.2% MgO content led to a 14.3% increase in corn yield and improved soil pH by 0.8 units over 12 months. These alternative uses provide scalable markets beyond metallurgy and refractories.

CHALLENGE

Complex logistics and handling requirements

Olivine sand has a bulk density ranging from 3.3 to 3.4 g/cm³, which increases freight costs compared to lighter materials. Transporting 1,000 metric tons of olivine over 2,000 km incurs an average logistical cost of $39,000. In addition, fine olivine powders pose dust control challenges, requiring moisture conditioning or encapsulated handling systems, which adds up to $4 per ton in processing costs. These operational complexities hinder small-scale adoption in emerging regions.

Olivine Powder and Olivine Sand Market Segmentation

The olivine powder and olivine sand market is segmented based on type and application. By type, classification includes various mesh sizes, which determine suitability for specific industrial uses. Applications include molding sand for casting, metallurgical flux, refractory base materials, and other emerging uses like agriculture and construction. In 2024, molding applications accounted for over 46% of global olivine usage.

By Type

• 30–100 Mesh: Coarser olivine grades in this range are mainly used in casting and refractory industries. In 2024, over 1.1 million metric tons of 30–100 mesh olivine were consumed worldwide. These grades are preferred for iron and steel casting due to their higher permeability and improved venting. The average magnesium content is 48.6%, ensuring chemical compatibility with iron alloys.
• 100–270 Mesh: This segment, representing over 870,000 metric tons in 2024, is widely used in refractory bricks and slag conditioning. These finer particles offer better packing density and are used to reduce energy consumption in blast furnaces by approximately 6.2%. Foundry firms in Japan and Germany rely on this mesh for high-performance castings.
• 270–325 Mesh: Fine olivine powders in this range are key in carbon mineralization. The average annual use in environmental remediation projects was 420,000 metric tons in 2023. These fine particles accelerate the weathering process and were shown to absorb 1.22 tons of CO₂ per ton of olivine in laboratory conditions over a 90-day period.
• Others: Unconventional sizes and blended materials fall into this category, which comprised 310,000 metric tons in 2024. These are used in experimental applications such as additives in geopolymers and magnesia cement, contributing to emission reductions of 22% in concrete manufacturing.

By Application

• Foundry Molding Sand: Representing over 2.8 million metric tons in 2024, this is the dominant application. Its high thermal conductivity, measured at 4.8 W/mK, ensures faster cooling and dimensional accuracy in molds. Over 62% of foundries in Europe have switched to olivine from silica sand for health and performance reasons.
• Metallurgical Auxiliary Material: Steel and ferroalloy industries consumed 1.9 million metric tons in 2024. Olivine improves slag fluidity and helps control MgO content, stabilizing chemical reactions. Iron reduction reactions see improved efficiency by up to 15% with olivine fluxing.
• High-temperature Refractory: Used in linings for furnaces, kilns, and reactors, over 850,000 metric tons were utilized in 2024. With a refractoriness above 1,750°C, olivine has proven to reduce lining degradation rates by 20%. Countries like China and South Korea have increased usage for glass furnaces and incinerators.
• Others: Applications such as soil enhancement and eco-cement are emerging. In 2024, over 360,000 metric tons were diverted to such uses, led by agritech firms in Brazil and carbon-neutral construction projects in the Netherlands.

Olivine Powder and Olivine Sand Market Regional Outlook

The olivine powder and olivine sand market demonstrated diverse performance across major regions. While Europe and North America led in terms of technology adoption and sustainability integration, Asia-Pacific exhibited rapid consumption growth. Emerging economies contributed over 40% of the market volume in 2024, driven by industrialization and steel production expansion.

• North America

The U.S. and Canada collectively used over 920,000 metric tons of olivine in 2024. The U.S. steel casting industry remains the major consumer, accounting for 670,000 metric tons. U.S.-based refractory firms increased olivine imports by 14.1%, supported by regulations on reducing silica exposure in workspaces.

• Europe

Norway remains the global production hub with 1.4 million metric tons exported in 2023. Germany, France, and Italy together consumed over 1.1 million metric tons in 2024, mainly in foundries and refractory production. Environmental rules banning chromite-based refractories increased olivine use by 21% in Europe.

• Asia-Pacific

China, India, and Vietnam recorded combined consumption of 2.3 million metric tons in 2024. China alone produced over 450,000 metric tons domestically, while importing 180,000 metric tons from Turkey. Demand from Indian steel plants grew 11.7% year-on-year, supported by infrastructure expansion and urban development projects.

• Middle East & Africa

Demand is steadily rising, with the region consuming 460,000 metric tons in 2024. The UAE and Saudi Arabia together accounted for 62% of this demand, focusing on high-temperature refractory applications for aluminum and steel plants. African nations like South Africa started pilot olivine mining projects, producing 28,000 metric tons locally in 2024.

List of Top Olivine Powder and Olivine Sand Market Companies

• Sibelco
• Steinsvik Olivin
• Eryas
• Covia (Unimin)
• Olivine India Group
• Yucheng Refractory Products
• Thermolith SA (Vitruvit)
• Ore-Met
• Dakduklu Minerals
• Egamin
• Scangrit
• LTC Minerals

Top Companies with the Highest Share

Sibelco extracted: over 1.3 million metric tons of olivine in 2024, accounting for more than 23% of the global output.

Steinsvik Olivin: maintained a 17.4% market share by producing 980,000 metric tons, primarily for European consumption.

Investment Analysis and Opportunities

Increased investments in carbon capture technologies and sustainable steel production have created strong growth opportunities for the olivine market. In 2024, global investment in olivine-based CO₂ sequestration exceeded $190 million, with 14 large-scale projects in deployment. The EU Green Deal allocated funding to 7 olivine-related research initiatives aiming to reduce 1.5 million metric tons of CO₂ annually.

Asia-Pacific is attracting major investments, with Indian firms committing over ₹450 crore in foundry material modernization using olivine sand. Similarly, Chinese refractory manufacturers invested ¥380 million in expanding olivine storage and handling facilities, targeting 12% higher throughput in 2025. Brazil initiated an $18 million olivine-agriculture trial across 500 hectares of farmland, testing long-term crop and environmental impact.

Mining firms are acquiring new exploration licenses in Morocco, Kazakhstan, and Ethiopia. Over 40 mining blocks with olivine deposits have been auctioned between 2023 and 2024. The average investment per block has exceeded $4 million, backed by projections of extracting up to 120,000 metric tons annually per block. The U.S. DOE also allocated $12.5 million toward research into olivine’s carbon drawdown capacity, highlighting its strategic value.

New Product Development

Manufacturers are introducing advanced olivine blends with enhanced particle size uniformity and modified surface chemistries. In 2024, five major producers released new olivine products engineered for improved flowability and thermal shock resistance. A proprietary olivine product launched by Thermolith SA demonstrated 13.2% higher casting surface smoothness during testing at German foundries.

Innovations also include dust-free olivine granules, where moisture-activated coatings reduce airborne particulates by 92%. These products are gaining preference in regions with strict occupational safety laws. Refractory firms have begun integrating nanostructured olivine, improving thermal expansion resistance by 18% in high-heat environments.

In carbon capture applications, research institutions developed micronized olivine powder with particle sizes under 20 microns. This ultrafine product accelerated carbon mineralization rates by 2.5x compared to traditional powders. In agricultural innovation, magnesium-enriched olivine fertilizers with MgO content above 51% were released for commercial trials in Peru and Indonesia.

Five Recent Developments

• Sibelco: commissioned a new olivine processing unit in Belgium with a capacity of 240,000 metric tons per year in Q4 2023.
• Steinsvik Olivin: expanded exports to Vietnam and South Korea, increasing volume by 28% in 2024.
• Eryas: launched its “Eco-Cast 100” olivine for low-silica casting with successful pilot tests in France.
• India’s Ministry: of Mines approved three new olivine mining leases in Odisha in early 2024, totaling 170,000 metric tons of estimated reserves.
• Thermolith SA :began pilot production of granulated olivine refractory bricks, reporting a 21% drop in energy loss during thermal tests.

Report Coverage of Olivine Powder and Olivine Sand Market

This report offers a comprehensive analysis of the olivine powder and olivine sand market, examining the entire value chain from extraction to end-use applications. It includes quantitative evaluations of global production, usage by segment, regional performance, and emerging technologies. Over 12 market segments and 8 regional zones are covered, with data sourced from over 110 verified manufacturing and trade entities.

The report tracks over 30 industrial applications, quantifying demand volumes in metric tons across the casting, metallurgy, refractory, and environmental sectors. It identifies major production clusters such as the Råna deposit in Norway, which contributes over 22% of global supply. Regulatory impacts, including silica exposure limits and carbon taxation, are examined alongside product substitution trends.

Supply chain analysis includes freight logistics, cost structures, and processing requirements. More than 45 company profiles were studied, including financial allocations for R&D, which exceeded $96 million globally in 2024. This report provides market entrants, manufacturers, investors, and policymakers with detailed insights necessary to navigate this evolving industry.

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