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Mineral Market Size Forecast: How Big Could The Market Get By 2030?
The mineral market has demonstrated consistent growth in recent years. It is anticipated to expand from $1037.46 billion in 2025 to $1076.08 billion in 2026, at a compound annual growth rate (CAGR) of 3.7%. Historically, this growth has been driven by factors such as increased construction activities, rising demand for cement and concrete products, the expansion of glass and ceramic industries, the adoption of traditional mineral processing methods, and the growing utilization of minerals in manufacturing applications.
The mineral market size is projected to experience consistent expansion over the coming years. By 2030, this market is anticipated to reach a valuation of $1286.95 billion, progressing at a compound annual growth rate (CAGR) of 4.6%. This expansion during the forecast period is fueled by several factors, including a heightened demand for sustainable and environmentally friendly minerals, the development of advanced building materials derived from minerals, wider applications of minerals within the electronics and energy industries, a surge in the embrace of digital and automated methods for mineral processing, and the proliferation of infrastructure and smart city initiatives. Key trends expected during the same timeframe encompass an escalating need for construction minerals, a greater incorporation of minerals in the production of glass and ceramics, an increase in non-metallic mineral applications for various industrial processes, the broader utilization of lime and gypsum products in infrastructure development, and the implementation of sophisticated mineral processing technologies.
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Mineral Market Demand Drivers Opening New Revenue Streams
The increasing embrace of electric vehicles is anticipated to drive expansion within the mineral market. Electric vehicles (EVs) operate on electricity, either from rechargeable batteries or an external supply like an overhead line or charging station. For energy storage, EVs predominantly rely on lithium-ion batteries, which in turn necessitate substantial quantities of minerals such as lithium, cobalt, and nickel. Lithium holds particular significance as a vital constituent of these batteries, being a primary component of lithium-ion battery cathodes and thus central to the electric vehicle sector. Illustratively, in 2024, the International Energy Agency (IEA), a France-based energy statistics and policy organization, reported that electric vehicles constituted 18% of all new car sales worldwide in 2023, an increase from 14% in 2022. Consequently, the rising adoption of electric vehicles is fueling the growth of the mineral market.
Mineral Market Segment Trends And Revenue Contributors
The mineral market covered in this report is segmented –
1) By Type: Cement and Concrete Products, Glass and Glass Products, Non-Metallic Mineral Products, Clay Products and Refractories, Lime and Gypsum Products
2) By Application: Building & Construction Materials, Infrastructure Development, Glass Manufacturing & Processing
3) By End User: Construction, Manufacturing
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 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
Mineral Market Trends Powering Strategic Industry Growth
Leading companies active in the mineral market are concentrating on utilizing price evaluations and comprehensive market analysis to stay informed about current market dynamics, price fluctuations, and emerging opportunities. Price assessments involve gauging the market value of critical minerals such as lithium, cobalt, nickel, and graphite, while market analysis examines supply-demand trends, policy changes, and production developments. For instance, in May 2024, Benchmark Mineral Intelligence, a UK-based research and consulting company, introduced its Rare Earths Price Assessment. This Rare Earths Price Assessment marks a significant step towards improving market transparency and facilitating better decision-making in the rare earth sector. As demand continues to grow in alignment with the global energy transition, this initiative will prove crucial for both producers and consumers navigating an increasingly complex landscape.
Mineral Market Leading Companies And Competitive Benchmarking
Major companies operating in the mineral market report are LafargeHolcim Ltd., HeidelbergCement AG, Anhui Conch Cement Company Limited, China National Building Material Group Co. Ltd., Compagnie de Saint-Gobain S.A., CRH plc, Cemex S.A.B. de C.V., Taiheiyo Cement Corporation, UltraTech Cement Limited, Buzzi Unicem S.p.A., Votorantim Cimentos S.A., Siam Cement Group, James Hardie Industries plc, Knauf Gips KG, USG Corporation, Owens Corning, Guardian Industries, Nippon Sheet Glass Co., Ltd., AGC Inc., Etex Group, Wienerberger AG, Imerys S.A., Vulcan Materials Company, Martin Marietta Materials, Inc.
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Mineral Market Top Region By Revenue And Market Share
Asia-Pacific was the largest region in the mineral market in 2025. Western Europe was the second-largest region in the mineral market. The regions covered in the mineral market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Wasay has over a decade of experience in market research, data modelling, and analytics, with prior experience at GlobalData and Decision Tree Consulting Services. At The Business Research Company , he leads research operations across syndicated studies, customized consulting engagements, and the Global Market Model platform. His professional experience includes supporting organizations such as Boston Consulting Group, KPMG, and Ernst & Young. Wasay holds a degree in Electronics and Communications Engineering, postgraduate management qualifications from International Management Institute Belgium and Indian School of Business and Entrepreneurship, and completed the Integrated Program in Business Analytics from Indian Institute of Management Indore.