What is the current size and annual growth rate of the general minerals market?
The general minerals market size has grown rapidly in recent years. It will grow from $229.61 billion in 2024 to $254.16 billion in 2025 at a compound annual growth rate (CAGR) of 10.7%. The growth in the historic period can be attributed to global economic trends, infrastructure and construction, industrial manufacturing.
The general minerals market size is expected to see strong growth in the next few years. It will grow to $360.1 billion in 2029 at a compound annual growth rate (CAGR) of 9.1%. The growth in the forecast period can be attributed to urbanization, global population growth, electric vehicles and renewable energy. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
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Which major factors have contributed to the expansion of the general minerals market?
The growing demand for minerals is expected to propel the growth of the general minerals market going forward. A mineral is defined as a naturally occurring substance characterized by its unique chemical and physical properties, composition, and atomic structure. Minerals are fundamental raw materials used in various industries, including construction, manufacturing, electronics, and energy. This expansion of infrastructure in developing and developed nations contributes to increased mineral consumption. For instance, according to the International Energy Agency, a France-based autonomous intergovernmental organization, exploration spending for critical minerals rose by 20% in 2022, with notable increases in hard-rock lithium exploration, particularly in Canada and Australia, which saw over 40% growth year-on-year. Therefore, increasing demand for minerals is driving the growth of the general minerals market.
How is the general minerals market segmented?
The general minerals market covered in this report is segmented –
1) By Type: Potash, Salt, Magnesite, Sulfur, Kaolin, Asbestos, Feldspar, Boron, Gypsum, Talc, Graphite, Baryte, Bentonite, Diatomite, Lithium, Selenium, Perlite, Vermiculite, Arsenic, Other General Minerals
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By Service Provider Type: Independent Contractors, Companies
Subsegments:
1) By Potash: Muriate Of Potash (MOP), Sulfate Of Potash (SOP)
2) By Salt: Rock Salt, Sea Salt, Solar Salt, Vacuum Salt
3) By Magnesite: Dead Burned Magnesite, Fused Magnesite, Caustic Calcined Magnesite (CCM)
4) By Sulfur: Elemental Sulfur, Sulfuric Acid
5) By Kaolin: Paper-Grade Kaolin, Ceramic-Grade Kaolin, Other Industrial Kaolin
6) By Asbestos: Chrysotile Asbestos, Amphibole Asbestos (Including Crocidolite And Amosite)
7) By Feldspar: Potash Feldspar, Soda Feldspar
8) By Boron: Boric Acid, Sodium Borate, Boron Oxide
9) By Gypsum: Natural Gypsum, Fgd (Flue Gas Desulfurization) Gypsum
10) By Talc: Steatite, Soapstone
11) By Graphite: Natural Graphite (Flake, Amorphous, Lump), Synthetic Graphite
12) By Baryte: Oilfield Grade Baryte, Industrial Grade Baryte
13) By Bentonite: Sodium Bentonite, Calcium Bentonite
14) By Diatomite: Food Grade Diatomite, Industrial Grade Diatomite
15) By Lithium: Lithium Carbonate, Lithium Hydroxide, Lithium Chloride
16) By Selenium: Selenium Powder, Selenium Metal
17) By Perlite: Horticultural Perlite, Industrial Perlite
18) By Vermiculite: Expanded Vermiculite, Unexpanded Vermiculite
19) By Arsenic: Arsenic Trioxide, Arsenic Pentoxide
20) By Other General Minerals: Manganese, Tin, Antimony, Fluorspar, Other Specialty Minerals
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Who are the top competitors in the general minerals market?
Major companies operating in the general minerals market include Alcoa Corporation, Clariant AG, Compass Minerals International Inc., Iluka Resources Limited, Rio Tinto Inc., Sociedad Quimica y Minera de Chile S.A., Aluminum Corporation of China Limited, Anglo American plc, AngloGold Ashanti Limited, Barrick Gold Corporation, BHP Group, China Molybdenum Co. Ltd., Compass Menerals International Inc., Eti Maden, First Quantum Minerals Ltd., Freeport-McMoRan Inc., Glencore plc, Gold Fields Limited, Grupo México, S.A.B. de C.V., ICL Group, Imerys SA, Jiangxi Copper Company Limited, KORE Potash, Lundin Mining Corporation, Mosaic Company, Newcrest Mining Limited, Newmont Corporation, Norilsk Nickel, Polyus PJSC, Sirius Minerals plc, Southern Copper Corporation, SQM SA, Teck Resources Limited, The Mosaic Co, Vale SA, Vedanta Resources Limited, Votorantim SA, Zijin Mining Group Co. Ltd.
Which key trends are expected to influence the general minerals market in the coming years?
Major companies in the general mineral market prioritize research and development activities in metal nanoparticles product for enhanced long-term profitability and responsible. Metal nanoparticles are submicron-scale entities made of pure metals or their alloys. They have unique physicochemical properties. The companies and research institutes are focusing on advanced research to leverage and use metal nanoparticles for a range of applications. For instance, in February 2022, the Korea Institute of Science and Technology (KIST) created metal nanoparticles that were significantly capable of boosting the performance of hydrogen fuel cell catalysts by employing semiconductor manufacturing technology. The institute used sputtering technology to overcome the inadequacies of the prevailing chemical synthesis.
Which regional trends are influencing the general minerals market, and which area dominates the industry?
Asia-Pacific was the largest region in the general minerals market in 2023. North America was the second largest region in the general minerals market. The regions covered in the general minerals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
What Does The General Minerals Market Report 2025 Offer?
The general minerals market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
General minerals refer to naturally occurring inorganic substances that form the building blocks of rocks and soils. These minerals have distinct chemical compositions and physical properties. They are essential for various industrial applications, from construction and manufacturing to electronics and agriculture, as well as being crucial for human nutrition and health.
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