The mineral market consists of sales of mineral products by entities (organizations, sole traders and partnerships) that offer products such as bricks, refractories, ceramic products, and glass and glass products. This market also includes cement and concrete products, lime, gypsum and other nonmetallic mineral products including abrasive products, ceramic plumbing fixtures, statuary, cut stone products, and mineral wool. The mineral market is segmented into cement and concrete products; glass and glass products; other non-metallic mineral products; clay products and refractories; and lime and gypsum products.
The global mineral market is expected to grow from $881.71 billion in 2020 to $971.58 billion in 2021 at a compound annual growth rate (CAGR) of 10.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1262.48 billion in 2025 at a CAGR of 7%.