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04 Jan, 2022, 13:30 GMT
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– Mining of pyrite for the production of sulfuric acid for use in numerous industries creates ample opportunities in the pyrite market
– Use of pyrite in rechargeable sodium-ion batteries leads to same conversion reaction as lithium-ion batteries to substitute in electric vehicles
ALBANY, N.Y., Jan. 4, 2022 /PRNewswire/ — The pyrite market is projected to expand at a CAGR of 4.65% during the forecast period from 2020 to 2030. The demand for sulfur compounds from various industries are creating lucrative opportunities in the pyrite market. Pyrite is mined as a source of iron and sulfur, and is readily oxidized to create sulfuric acid naturally as well as commercially.
The growing demand for pyrite from grinding, paper & pulp, and consumer electronics industries is also fueling the growth of the pyrite market. The growth is influenced from its wide applications in photovoltaic devices, costume jewelry, marcasite jewelry, and semiconductor industry for lithium-ion batteries.
Sales in the pyrite market are expected to receive impetus from the growing demand for pyrite for cost-effective sodium-ion batteries for electric vehicles. Pyrite undergoes the same conversion reaction in sodium-ion batteries as lithium-ion batteries to form iron and sodium sulfide.
Asia Pacific holds leading share of the pyrite market attributed to the expanding application of pyrite in various industries. China and India are key contributors to the pyrite market in Asia Pacific mainly due to rapid industrialization and urbanization. The demand for pyrite for electric vehicles propels the pyrite market in Europe.
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Pyrite Market – Key Findings of Report
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Pyrite Market – Growth Drivers
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Pyrite Market – Key Players
Some of the key players operating in the pyrite market are:
The pyrite market is segmented as follows;
Pyrite Market, by End User
Pyrite Market, by Region
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