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Emerging Trends Influencing The Growth Of The Mineral Market: Benchmark Launches Rare Earths Price Assessment To Boost Market Transparency.
Mineral Market
What Is the Projected Growth of the Mineral Market?
The size of the mineral market has markedly increased in the past few years. Its expansion from $1094.23 billion in 2024 to $1161.84 billion in 2025, representing a compound annual growth rate (CAGR) of 6.2%, attests to this. Factors such as accelerated industrialization and infrastructure development, worldwide economic conditions, regulations related to the environment, the prices of commodities, and various infrastructure plans contribute to the growth experienced in the historical period.
Over the coming years, the mineral market is projected to witness consistent expansion, with its value reaching $1398.09 billion in 2029, growing at a compound annual growth rate (CAGR) of 4.7%. The predicted growth in this period can be linked to circular economy strategies, resilient supply chains, changes in customer tastes, geopolitical elements, and investment in infrastructure. Significant trends for the forecast period encompass technological innovation in mineral processing, introduction of green technologies, advancements in mining technology, development of renewable energy technologies, and strategic stockpiling.
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What Are the Different Mineral Market Segments?
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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What Are the Primary Drivers Shaping the Mineral Market?
The future of the market will be driven by affordable high-quality alternatives and the expanding uses of advanced ceramics. Advanced ceramics, due to their enhanced performance, are deemed a more cost-effective choice over metals, plastics, and glass. Advanced ceramics distinguish themselves with their high chemical purity and meticulous processing. These ceramics find utility in a range of applications, from thermal barrier coatings in engine hot parts, ceramic composites, thermal protection systems and engine components, to sensors and antennas. As stated by the United States Advanced Ceramics Association, a representative body for advanced ceramic manufacturers in the US, advanced ceramics play a vital role in various industries including aerospace, defense, power generation and industrial processing, thereby significantly impacting the economy and the environment. By boosting their toughness, they heighten the unique thermal, wear, and corrosion resistance attributes of conventional ceramics. Therefore, the affordable high-quality alternatives and growing applications of advanced ceramics will fuel future market growth.
Which Companies Are Leading in the Mineral Market?
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.
What Are the Major Trends Shaping the Mineral Market?
Leading firms in the mineral market are leveraging price assessments and market assessments to keep abreast of the latest market conditions and advancements. For example, in May 2024, Benchmark Mineral Intelligence, a research and consulting firm based in the UK, introduced the Rare Earths Price Assessment. This initiative is a significant move towards enhancing market visibility and enabling better decision-making in the rare earth sector. As the global energy transition drives demand, this project will become crucial for both producers and consumers as they navigate a continually evolving environment.
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What Are the Top Revenue-Generating Geographies in 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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Mineral Market?
2. What is the CAGR expected in the Mineral Market?
3. What Are the Key Innovations Transforming the Mineral Industry?
4. Which Region Is Leading the Mineral Market?
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