Industrial Minerals Market Expected to Reach USD XX Billion by 2032 | Growing at a CAGR of 3.5%

Market Research Future (MRFR) has published a cooked research report on the “Industrial Minerals Market” that contains information from 2018 to 2032. The Industrial Minerals Market is estimated to register a CAGR of 3.50% during the forecast period of 2023 to 2032.

MRFR recognizes the following companies as the key players in the global Industrial Minerals Market— Gentor Resources Inc., Alamos Gold Inc., Koza Altin Isletmeleri, Anatolia Energy Ltd, and Stratex International. P.l.c., Alara Resources Ltd, First Quantum Minerals Ltd., Invictus Gold Ltd., Columbus Copper Corp., Centerra Gold Inc., Eldorado Gold Corp., Diamond Fields International Ltd, Ruukki Group, Eurasian Minerals Inc., National Iranian Copper Corp.

Market Highlights

The global Industrial Minerals Market is accounted to register a CAGR of 3.50% during the forecast period and is estimated to reach USD XX billion by 2032.

Rapid urbanization in many parts of the world has driven demand for construction materials and infrastructure, thereby increasing the need for industrial minerals

Segment Analysis

The global Industrial Minerals Market has been segmented based on the Type, and Application.

Based on the Type, the market is segmented into Red Ocher, Limestone, Silicon Dioxide (SiO2), Dolomite (CaMg(CO3)2), and Others. The limestone segment was attributed to holding the largest market share in 2022.  Limestone, consisting of calcium carbonate (CaCO3), is a sedimentary rock primarily formed through the accumulation and subsequent solidification of marine fossil debris. While most limestone originates from marine sources, deposits from freshwater environments are also identified. Renowned for its versatility, limestone stands out as one of the most valuable industrial minerals. Among its historical applications, the production of lime (calcium oxide, CaO) ranks as one of the earliest uses.

Based on the Application, the Industrial Minerals Market has been segmented into Building Materials, Paint, Ceramics, Glass, Plastics, Paper, Electronics, Detergents, Medications and Medical Devices, and Others. The building materials segment was expected to hold the largest market share in 2022. The Building Materials end-use sector demonstrates the highest average consumption of industrial minerals compared to other sectors. For example, according to statistics from the European Union, an average house is constructed using more than 150 tonnes of industrial minerals. This pattern is expected to continue, especially with the growing emphasis on the use of environmentally friendly materials in construction.

Regional Analysis

The global Industrial Minerals Market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe Industrial Minerals Market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Industrial Minerals Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Industrial Minerals Market comprises of Middle East, Africa, and Latin America.

The largest market share for the Industrial Minerals Market was maintained by the North American regional sector. The resilience of industrial real estate, particularly since the onset of the COVID-19 pandemic, has been evident. The rapid surge in e-commerce, triggered by the pandemic, has significantly boosted the demand for distribution space. According to reports from June 2021, the United States is projected to add 330 million square feet of warehouse space dedicated to online fulfillment by 2025 to accommodate the expected increase in e-commerce sales during the same period. In Canada, the demand for warehouse space far exceeds the available supply, leading to a notable increase in industrial construction. After experiencing a 32% surge in online sales in 2020, Canada is anticipated to require an additional 40 million square feet of warehouse space in the next five years to meet the demand by 2025. This figure surpasses the combined storage capacity in Canada's three busiest industrial cities – Toronto, Vancouver, and Montreal – by more than three times. The surge in industrial construction is expected to propel the industrial mineral market as minerals like limestone, used in concrete production, and other construction materials become essential components in this infrastructure growth.

Moreover, the Europe market has been persistently growing over the forecast period. In Europe, the United Kingdom holds significance as a producer of various minerals utilized across multiple economic sectors. In 2021, a total of 178.5 million tonnes of minerals were extracted from the UK landmass for commercial purposes. These can be categorized primarily into crushed rock, accounting for 66.8% (125.9 million tonnes), and construction minerals other than crushed rock, constituting 23.3% (46 million tonnes). This increased demand is driven by the vital role these minerals play in construction, infrastructure development, and various industrial applications.

The Asia-Pacific region is undergoing significant urbanization, marked by a substantial concentration of the population in densely populated urban areas. This urbanization trend stands as a prominent and transformative force in the business landscape of the region. More than 2.2 billion people, constituting 54% of the global urban population, reside in Asia. Projections indicate a further surge, with the urban population expected to grow by 50%—an additional 1.2 billion people—by 2050. This demographic shift underscores a burgeoning demand for innovative and sustainable public transportation solutions. In the face of expanding cities and heightened population density, the business landscape is witnessing an escalating need for transportation options that are not only efficient but also aligned with sustainability objectives. Industrial minerals, with their capacity to elevate mobility within urban environments, present a strategic alignment with the evolving demands of rapidly growing cities.

Furthermore, the rest of the world's Industrial Minerals Market is divided into the Middle East, Africa, and Latin America. The GCC construction sector is expected to provide support to regional dynamics, with the introduction and commencement of new mega projects likely to create consistent demand for industrial minerals throughout the forecast period.

Key Findings of the Study

• The global Industrial Minerals Market is expected to reach USD XX billion by 2032, at a CAGR of 3.50% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market because Many countries in the Asia-Pacific region are undergoing rapid urbanization, leading to increased demand for construction materials.


• Based on type, the limestone segment was attributed to holding the largest market in 2022, with an approximate market share of 55–60%.


• Gentor Resources Inc., Alamos Gold Inc., Koza Altin Isletmeleri, Anatolia Energy Ltd, Stratex International. P.l.c., Alara Resources Ltd, First Quantum Minerals Ltd., Invictus Gold Ltd., Columbus Copper Corp., Centerra Gold Inc., Eldorado Gold Corp., Diamond Fields International Ltd, Ruukki Group, Eurasian Minerals Inc., National Iranian Copper Corp