Olivine is a mineral that is not often used in industry. Most olivine is used in metallurgical processes as a slag conditioner. High-magnesium olivine (forsterite) is added to blast furnaces to remove impurities from steel and to form a slag.

Olivine has also been used as a refractory material. It is used to make refractory brick and used as a casting sand. Both of these uses are in decline as alternative materials are less expensive and easier to obtain.