Press release
Leading Element Driving Change in the Mineral Market in 2025: Cost-Effective Superior Alternatives And Growth In Applications Of Advanced Ceramics Driver
Mineral
The market is anticipated to be propelled in the future by economically efficient, superior alternatives and the increased use of advanced ceramics. These ceramics are not only cost-effective but also stand as superior substitutes to materials such as metals, plastics, and glass due to their enhanced performance capabilities. Characterized by their high chemical purity and meticulous processing, advanced ceramics find usage in thermal barrier coatings in engine hot sections, ceramic composites, thermal protection systems, engine components, and even sensors and antennas. As stated by the United States Advanced Ceramics Association, an organization representing U.S. advanced ceramic producers, these ceramics have a pivotal role to play in various industries, including aerospace, defense, power generation, and industrial processing. It significantly impacts both the economy and environment. They augment the unique thermal, wear, and corrosion resistance capacity of regular ceramics by enhancing their durability. Therefore, the market's future growth is expected to be driven by these economically efficient, superior alternatives and the expanded application of advanced ceramics.
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What Is the projected market size and growth rate for the mineral market?
The size of the mineral market has witnessed considerable growth over the past few years. It is expected to rise from $1094.23 billion in 2024 to $1161.84 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 6.2%. Several factors have contributed to its growth during the historical period, including industrial and infrastructure development, global economic conditions, environmental policies, commodity prices, and infrastructure projects.
In the coming years, the mineral market is projected to experience consistent expansion. It is anticipated to reach a size of $1398.09 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.7%. The projected growth through the forecast period can be related to elements such as circular economy strategies, supply chain robustness, shifting consumer trends, geopolitical influences, and infrastructural investments. Notable trends during the forecast period encompass technological innovation in mineral processing, eco-friendly technologies, technological progress in mining, renewable energy technologies, and strategic stockpiling.
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What new trends are reshaping the mineral market and its opportunities?
Leading businesses in the mineral market are leveraging price evaluations and market reviews to stay updated on the prevailing market conditions and advancements. For example, in May 2024, Benchmark Mineral Intelligence, a research and consulting firm based in the UK, initiated the Rare Earths Price Assessment. This assessment marks a significant move towards enhancing market clarity and aiding better decision-making in the rare earth domain. With the persistent increase in demand in line with the global energy transition, this initiative is crucial for both producers and consumers navigating the intricately evolving landscape.
What major market segments define the scope and growth of the mineral 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:
1) By Cement and Concrete Products: Portland Cement, Ready-Mix Concrete, Precast Concrete Products, Concrete Blocks and Pavers
2) By Glass and Glass Products: Flat Glass, Container Glass, Fiberglass, Specialty Glass
3) By Other Non-Metallic Mineral Products: Abrasives, Insulation Materials, Decorative Stone, Soil Stabilizers
4) By Clay Products and Refractories: Brick and Tile, Ceramic Products, Refractory Bricks and Materials
5) By Lime and Gypsum Products: Quicklime, Hydrated Lime, Gypsum Board, Gypsum Plaster
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Which region dominates the mineral market?
Asia-Pacific was the largest region in the mineral market in 2024. Western Europe was the second-largest region in the mineral market. The regions covered in the mineral market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the mineral industry growth?
Major companies operating in the mineral market include 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.
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What Is Covered In The Mineral Global Market Report?
•Market Size Forecast: Examine the mineral market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the mineral market for a structured understanding.
•Key Players Overview: Analyze major players in the mineral market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the mineral market.
•Segment Contributions: Evaluate how different segments drive overall growth in the mineral market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the mineral market.
•Industry Challenges: Identify potential risks and obstacles affecting the mineral market.
•Competitive Landscape: Review strategic developments in the mineral market, including expansions, agreements, and new product launches.
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