Press release
Mineral Market Report 2024: Trends, Growth, and Forecast to 2033 - Market to Hit $1335.25 Billion by 2028
Mineral Market Report
As per the report, the mineral market size has grown strongly in recent years. It will grow from $1021.75 billion in 2023 to $1083.89 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The mineral market size is expected to see strong growth in the next few years. It will grow to $1335.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.
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Cost-Effective Superior Alternatives And Growth In Applications In Advanced Ceramics
Advanced ceramics are cost-effective and are considered to be better alternatives to metals, plastics and glass because of their ability to offer better performance. Advanced Ceramics are identified by their high chemical purity and careful processing. It is used as thermal barrier coating in the hot part of engines, ceramic composite, thermal protection systems, engine components and even in sensors and antennas. For instance, advanced ceramics reached$10.41 Billion in 2021, at a compound annual growth rate of 6.5%, thus indicating an increase in the usage of advanced ceramics. GE Aviation's $4.3 billion five-year investments, in US operations, were used for producing a new generation of jet engines, aircraft systems and engine components advanced ceramics.
Impact Of High Taxes On Cement And Mineral Products Market
The imposition of high taxes on cement and concrete products limited the growth of the mineral products market. Mineral products such as cement, made from a different combination of minerals, are generally sold in high volumes at low prices, but heavy taxes imposed on cement and concrete products restrained the market's growth. In July 2021, according to Cleartax, Cement will attract 28% GST resulting in increased costs for the infrastructure sector, The tax of limestone is at 5%. India's cement industry is the second-largest producer of cement after China. High taxes on cement negatively affected the mineral products market.
The mineral market covered in this report is segmented -
1) By Type: Cement and Concrete Products, Glass and Glass Products, Other Non-Metallic Mineral Products, Clay Products and Refractories, Lime and Gypsum Products
2) By Application: Chemicals Manufacturing, Metallurgy, Electrical Grid Infrastructure, Electronics, Glass Products, Vehicles, Other Applications
3) By End User: Construction, Manufacturing, Other End Users
Subsegments Covered: Cement, Ready-Mix Concrete, Concrete Pipe, Brick, and Block, Other Concrete Products, Flat Glass, Container Glass, Glassware and Other Glass Products Pottery, Ceramics, and Plumbing Fixtures, Clay Building Material and Refractories, Lime Products, Gypsum Products
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Major companies operating in the mineral market report are Glencore plc, Jiangxi Copper Company Limited, BHP Billiton Limited, China National Building Material Group Co. Ltd., Compagnie de Saint-Gobain S.A., Rio Tinto Group, Vale S.A., Nutrien Ltd., Anglo American plc, LafargeHolcim Ltd., Freeport-McMoRan Inc., HeidelbergCement AG, Anhui Conch Cement Company Limited, Teck Resources Limited, Newmont Corporation, Barrick Gold Corporation, Southern Copper Corporation, Sibanye-Stillwater Limited, First Quantum Minerals Ltd., Agnico Eagle Mines Limited, Gold Fields Limited, Kinross Gold Corporation, Lundin Mining Corporation, Yamana Gold Inc., Turquoise Hill Resources Ltd., Hudbay Minerals Inc., Pan American Silver Corp., Wheaton Precious Metals Corp., Iamgold Corporation, Gujarat Mineral Development Corporation Limited, Alamos Gold Inc., Americas Gold and Silver Corporation, Eldorado Gold Corporation, Endeavour Silver Corp., Equinox Gold Corp., Fortuna Silver Mines Inc., Great Panther Mining Limited, MAG Silver Corp., McEwen Mining Inc., OceanaGold Corporation, Osisko Gold Royalties Ltd., Sierra Metals Inc., SilverCrest Metals Inc., SSR Mining Inc., Torex Gold Resources Inc.
Contents of the report:
1. Executive Summary
2. Mineral Market Report Structure
3. Mineral Market Trends And Strategies
4. Mineral Market - Macro Economic Scenario
5. Mineral Market Size And Growth
…..
27. Mineral Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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