The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The general minerals market has witnessed robust growth in recent years, with the market size soaring from $207.58 billion in 2023 to $227.59 billion in 2024, marking an impressive Compound Annual Growth Rate (CAGR) of 9.6%. The historical growth can be attributed to global economic trends, infrastructure development, and industrial manufacturing.

Projected Growth and Key Drivers

The trajectory of growth for the general minerals market continues to be promising, anticipating a surge to $315.52 billion in 2028 at a CAGR of 8.5%. This projected growth is fueled by several factors, including urbanization, global population growth, and the rising demand for electric vehicles and renewable energy.

The Catalyst: Growing Demand for Minerals

– Defining Minerals

The burgeoning demand for minerals is poised to be a significant driver for the general minerals market. Minerals, characterized by unique chemical and physical properties, serve as fundamental raw materials in various industries such as construction, manufacturing, electronics, and energy.

– Infrastructure Boom

The expansion of infrastructure in both developing and developed nations contributes significantly to increased mineral consumption. As an illustration, Natural Resource Canada reported a 20% increase in the 2021 value of Canadian mineral production compared to 2020, reaching $55.5 billion.

– Industry Giants

Major players shaping the general minerals market include Alcoa Corporation, Clariant AG, Compass Minerals International Inc., Iluka Resources Limited, and others.

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Technological Advancements: Battery-Related Fabrication

– Innovation in Mineral Market

To maintain a competitive edge, companies within the general minerals market are actively developing new technologies, particularly in battery-related fabrication. This involves processes and techniques integral to battery manufacturing, including the production of battery cells and electrodes.

– Aligned Graphite Technology

One noteworthy advancement is Battrion AG’s Aligned Graphite Technology, unveiled in collaboration with Jagenberg Converting Solution GmbH. This technology, designed for lithium-ion batteries, enhances the microstructure of negative electrodes, leading to improved battery performance and faster charging.

– Potential Industry Revolution

Aligned Graphite Technology has the potential to revolutionize the electric vehicle and high-power battery industry. It not only improves energy storage but also optimizes battery manufacturing processes, offering cost savings and compatibility with standard graphite materials.

Market Segmentation

– Diverse Mineral Categories

The general minerals market is segmented based on type, including potash, salt, magnesite, sulfur, kaolin, asbestos, feldspar, boron, gypsum, talc, graphite, and many others. Additionally, the segmentation extends to organization size, distinguishing between large enterprises and small and medium enterprises.

– Service Provider Differentiation

Further segmentation involves service providers, categorized as independent contractors and companies, highlighting the diversity within the market.

Regional Dominance

– Asia-Pacific Leading the Way

In 2023, Asia-Pacific emerged as the largest region in the general minerals market, underscoring its dominance in this thriving industry.

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The General Minerals Global Market Report 2023  provides an overview of the general minerals market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The general minerals market forecast analyzes general minerals market size, general minerals market share, leading competitor and their market positions.

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