Top 4 Pyrite Market Companies Worldwide | Industry Leaders

As per the analysis by Expert Market Research, the global pyrite market is being driven by the rising sulphuric acid market. In the forecast period of 2025-2034, the sulphuric acid industry is further expected to grow at a CAGR of 5.1%.

The rising industries of jewellery and sulphur compounds are boosting the market growth of pyrite immensely. Pyrite is an important compound for a vast range of industries. It is used as a filler for brake lines and grinding wheels in the grinding industry and also as a semiconductor and an electrode in the electronics industry. Pyrite is also a key component in the production of paper in the paper and pulp industries. It is considered to be a useful substitute for photovoltaic solar panels as it is very cheap and easily available. The rising demand for pyrite in the production of sulphuric acid and sulphur dioxide has helped the growth of the market tremendously. Pyrite, as excellent iron ore, can boost the market growth immensely if the current iron ore becomes scarce.

The rapid growth of the industry in the Asia Pacific region has helped in the rise of the global pyrite market. The increasing demand for pyrite from developing economies like China and India has also made the Asia Pacific region important for the global pyrite market. The demand for low-cost materials for the manufacturing processes of jewellery and sulphuric acid is significantly growing in China, thereby increasing the growth of the pyrite market tremendously. The development of the paper and chemical industries in the regions of Latin America and the Middle East and Africa is helping in the growth of the market as well.

Global Pyrite Industry: Top Firms, Financials & Trends

In September 2024, China's imports of gold ore and concentrate dropped significantly due to a proposed customs rule change. The new regulation aims to reclassify gold concentrates with high iron and sulfur content as pyrite, subjecting them to additional taxes. This led to a 22.4% decrease in shipments from August to September, as traders diverted cargoes to other countries to avoid potential retrospective taxation.

In April 2024, researchers discovered that pyrite, commonly known as "fool’s gold," could serve as a new source of lithium. This finding facilitates the exploration of alternative lithium extraction methods, reducing reliance on traditional sources. Additionally, the study highlights pyrite’s potential role in meeting the growing demand for lithium in battery production and energy storage.

As of January 2024, China produced over 90% of global pyrite roasting acid, maintaining dominance in the market. Production has declined in the United States, Brazil, and Europe, reinforcing China’s central role. Its extensive output highlights the country’s influence in sulfuric acid production and its impact on global industrial and agricultural sectors.

In February 2023, Nordic Mining’s subsidiary announced a pyrite offtake agreement for the Engebø project, ensuring a stable supply of high-quality pyrite. This agreement facilitates increased utilization of by-products from mineral processing, enhancing resource efficiency. Additionally, the deal strengthens market opportunities for sustainable mineral extraction and supports industrial applications requiring sulfur-rich materials.

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Global Pyrite Suppliers: Top 4 Firms & Supply Chain

1. Veneta Mineraria S.p.a.

The company deals with the design, production, and sale of mineral-based products, and is the leading producer of sulphides and oxides in Europe. The minerals produced by the company are used as raw materials in a variety of industries such as the steel industry for workable steel, the glass industry for containers, and the automobile industry for brake pads and other products.

2. Hickman, Williams & Company

The company provides a range of materials such as coal, metallurgical coke, pig iron, ferroalloys, abrasives, fused silica, carbon additives, and briquetted alloys to metal producers and industries around the world. The company maintains a network of strategically located sales offices, plants and warehouses to assure prompt delivery.

3. Justo Gems S.A.C.

Justo Gems deals with the manufacture and sale of crafts, textiles, and semi-precious stones such as angelite, rhodonite, jasper, nephrite and pyrite. It also works with artisans in producing beautiful crafts, giving their customers high quality products. The company also specialises in selling wooden handicrafts, textiles, alpaca, vicuna, llama, sheep, gold and silver jewellery and semiprecious stones.

4. Foshan Pyrite Mineral Materials Co., Ltd

This company is involved in the production and sale of high-grade pyrite. The company is one of China’s largest pyrite exporters and their products are exported mainly to South America, East Asia, Australia, Western Europe and Taiwan markets. Their products are used for a variety of purposes such as smelting, casting, soil conditioning, lithium battery cathode materials, and as an absorbent of heavy metals in wastewater.