The minerals are the naturally occurring, inorganic solids, with a characteristic chemical composition, having a regular atomic structure throughout. The mineral product manufacturing comprise of sales of mineral products over different organizations that offers different products such as bricks, refractories, ceramic products, and glass and glass products, plate glass and containers. The market further comprise of companies that are associated to 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 advanced ceramics plays a cost effective role and is considered to be better providing better alternatives to metals, plastics and glass due to ability of offering better performance. The advanced ceramics can be identified by high chemical purity and careful processing. They are further used as thermal barrier coating by a hot part engines, ceramic composite, thermal protection system, and engine components seen in sensors and antennas.
According to study, “Mineral Products Global Market Report 2019” the key companies operating in the global mineral products market are Lafargeholcim Ltd., Compagnie de Saint-Gobain SA, Cemex SAB de CV, CRH Plc., Heidelberg Cement AG. The global market is characterized with the aid of the presence of numerous small and huge manufacturers and suppliers, making the competitive landscape highly fragmented. Competition in intense a number of the extraordinary players within the market, with maximum bigwigs outsmarting smaller regional rivals with higher products and robust distribution network. Another commonplace trend in the market is companies leveraging pricing, product differentiation, customization, and preservation services to grow their marketplace share.
Based on type, mineral products market is segmented into glass & glass product manufacturing, cement & concrete product manufacturing, non-metallic mineral product manufacturing; lime & gypsum product manufacturing and clay product & refractory manufacturing. In addition, based on end-use, market is segmented into manufacturing, construction and others. Manufacturing segment is further sub-segmented into ready-mix concrete manufacturing, concrete pipe, brick, and block manufacturing, cement manufacturing and other concrete product manufacturing (clay building material & refractories manufacturing; pottery, ceramics, and plumbing fixture manufacturing, gypsum product manufacturing and lime product manufacturing).
The mineral products market is driven by rapid growth in the construction industry in emerging markets, followed by increase in disposable incomes across developing economies, rise in awareness about the product as well as higher demand for efficient products such as solar control glass and rise in demand for limestone, glass, and cement. However, high price associated with mineral products may impact the market. Moreover, growth in online distribution channel for mineral products is a key trend for market.
Based on geography, the Asian-Pacific region holds major share in global mineral products market owing to growth in adoption of smart glass in production of automobiles in the region. Whereas, the North-American and European regions are estimated to witness higher growth rate due to higher uptake of innovative non-metallic mineral products and better technological infrastructure over the forecast period. In near future, it is expected that the market will be reached at quick pace as a result of rise in awareness about the product coupled with higher demand for efficient products such as solar control glass during the forecast period.
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Ankur Gupta, Head Marketing & Communications