What are the latest figures on the dry bulk materials market’s size and projected CAGR?
The dry bulk materials market size has grown strongly in recent years. It will grow from $445.09 billion in 2024 to $484.13 billion in 2025 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to increase in the shipping of steel and coal, rise of seaborne trade, strong economic growth in emerging markets, increasing industrialization and growing urbanization.
The dry bulk materials market size is expected to see strong growth in the next few years. It will grow to $642.02 billion in 2029 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to increase in iron ore and coal transportation, growing demand for dry bulk shipping, increase in the shipping of steel, increasing infrastructure projects and growing demand for iron ore, coal, grain, bauxite/alumina. Major trends in the forecast period include technological advancements, sustainable materials, volatile raw material prices, lower investment in newbuilds and market intelligence.
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Which Market drivers have played a significant role in driving the dry bulk materials market?
Rising demand for raw materials for the manufacturing, defense, and infrastructure sectors is driving the growth of the dry bulk material trucking market. This upsurge in demand is attributed to the rise in industrialization, population, and urbanization. For instance, according to the report of the World Bank, the European mineral raw materials industry demonstrated a considerable increase in the production of minerals needed for clean energy technologies. It additionally clarifies the requirement for a wide range of minerals and metals for implementing renewable energy strategies and their related infrastructure. The demand for minerals such as graphite, lithium, and cobalt is expected to be as high as 500% by 2050. There is a need for efficient dry bulk trucks to carry these dry bulk materials, thereby driving the growth of dry bulk materials market.
What are the key segments within the dry bulk materials market?
The dry bulk materials market covered in this report is segmented –
1) By Commodity Type: Iron Ore, Coal And Pet Coke, Grains And Agricultural Products, Cement Or Aggregates, Fertilizers, Other Commodity Types
2) By Application: Food & Beverages, Construction, Automotive, Energy And Metal & Construction, Agriculture, Chemicals, Other Applications
3) By End Use: Iron Ore, Steel Products, Lumber or Log, Other End Users
Subsegments:
1) By Iron Ore: Fine Ore, Lump Ore
2) By Coal And Pet Coke: Thermal Coal, Metallurgical Coal, Pet Coke (Petroleum Coke)
3) By Grains And Agricultural Products: Wheat, Corn (Maize), Rice, Soybeans, Barley, Other Agricultural Products
4) By Cement Or Aggregates: Cement, Limestone, Sand And Gravel, Crushed Stone
5) By Fertilizers: Nitrogenous Fertilizers, Phosphatic Fertilizers, Potassic Fertilizers, Compound Fertilizers
6) By Other Commodity Types: Bauxite, Sulphur, Steel Products, Wood Pellets, Salt, Other Miscellaneous Commodities
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Which key players are shaping the dry bulk materials market?
Major companies operating in the dry bulk materials market include C.H. Robinson, Transpro Burgener, Bulkmatic Transport, Kenan Advantage Group Inc., Quality Distribution Inc., Trimac Transportation Services Inc., Foodliner Inc., Heniff Transportation Systems LLC, Superior Bulk Logistics Inc., Groendyke Transport Inc., Ruan Transportation Management Systems, Dupre Logistics LLC, Eagle Transport Corporation, Martin Transport Inc., Florida Rock And Tank Lines Inc., United Petroleum Transport Ltd., Tankstar USA Inc., Coastal Transport Co. Inc., Apex Logistics International Inc., Cliff Viessman Inc., J and M Tank Lines Inc., Andrews Logistics LP, Grammer Industries Inc., Prime Inc., Belships ASA, Berge Bulk Singapore Pte. Ltd., Diana Shipping Inc., Freeseas Inc., Genco Shipping and Trading Limited, Globus Maritime Limited, Golden Ocean Group Ltd., Gulf Agency Company Ltd., Star Bulk Management Inc., Western Bulk Management AS, Cargill Incorporated., Archer Daniels Midland Company, Bunge Limited, Louis Dreyfus Company BV
Which transformative trends will shape the dry bulk materials market landscape?
Major companies operating in the dry bulk shipping market are focused on enhancing safety, operational efficiency, and sustainability through innovative solutions. For instance, in August 2024, Dry Bulk Centre of Excellence (DBCE), a UK- based independent not-for-profit industry organization within the dry bulk shipping industry, launched the Dry Bulk Management Standard (DryBMS) portal, designed to provide ship operators with comprehensive guidance from industry standards and best practices. This initiative aims to reduce incidents, improve operational practices, and promote sustainability across the sector, reflecting the growing emphasis on industry-wide safety systems and continuous development in the dry bulk shipping market.
How do regional factors impact the dry bulk materials market, and which region is the largest contributor?
Asia-Pacific was the largest region in the dry bulk materials market in 2023. North America was the second largest region in the dry bulk materials market. The regions covered in the dry bulk materials market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Does The Dry Bulk Materials Market Report 2025 Offer?
The dry bulk materials market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Dry bulk materials trucking refers to the mode of transportation of raw substances that are transported in huge, unpackaged packages by using trucks, freight, and other modes of movement to provide over-the-road transportation from one place to another to reduce time, cover long distances, and reduce environmental pollution for dry bulk materials including coal, grains, metal, and related products.
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