Nonmetallic mineral product is those products, which are found in natural state or refined from other minerals. Rocks like limestone, magnesite, dolomite, phosphorite, talc, quartz, mica, clay, silica sand, gemstones, decorative and dimension stones, construction materials, etc. These minerals are used as raw materials in the manufacturing of various other products such as steel, silica, cement, etc. Also, global demand for such products are increasing extensively across the globe, which has the potential to boost the nonmetallic mineral product market.
Nonmetallic Mineral Product Market: Drivers and Restraints
The primary factor, which will drive the growth of nonmetallic mineral product market, is construction. Sand is one of the nonmetallic mineral product, which has a huge demand in construction activities. Nonmetallic mineral products such as limestone have an extensive use in the manufacturing of steel and cement. The rapid expansion of cement industries in countries such as India, China, and Western European countries is happening. Cement industries owing to its large production scales and a wide range of products with various strength needs a lot of nonmetallic mineral products. Both iron and steel manufacturing, cement manufacturing industries across the globe are increasing with the rise in demand. Other nonmetallic mineral products such as gypsum, mica, and silica are used in the manufacturing of products such as wallboards, asbestos, plaster of Paris, etc. The silica used for manufacturing of moisture absorbing pouches, mica usage in manufacturing of electrical components, gypsum usage for asbestos and wallboards are few of the possible factors which have potential to drive the demand for nonmetallic mineral products across industries.
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Since such nonmetallic mineral products are, extract from earth core, there is a high possibility that the mine capacity will decline after repeated excavation and rising bans on mine excavation due to environmental issues can deter the nonmetallic mineral products market. Products such as asbestos, wallboards are considered to be not environment-friendly and do possess characteristics which can trigger diseases in human such as skin and lung cancer. Such health concerns will push consumers not to prefer asbestos and wallboards. The decline in sales of products can also impact downwardly the nonmetallic mineral products market.
Nonmetallic Mineral Product Market: Market Segmentation
Based on form type, nonmetallic mineral product market can be segmented into:
- Powder Form
- Liquid Form
Based on the end user industry, can be segmented into:
- Iron & Ore
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Global Nonmetallic Mineral Product Market: Regional Outlook
Based on the geographies, the global vinyl acetate market is fragmented into seven key regions — North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific except Japan, Japan, and the Middle East & Africa. Among the regions mentioned above, North America accounts for a significant share of global nonmetallic mineral product market, owing to the relatively high-value proportion of the region in the mineral processing industry. Industries such as construction, iron & ore, metallurgy powder, etc. are growing significantly in North America, which is few of potential consumer of the nonmetallic mineral product market. Western Europe is followed by North America region in the global nonmetallic mineral market, owing to the substantial growth of various industries in the region, which are again also a consumer of the nonmetallic mineral product. The Asia-Pacific except Japan region accounts for significantly high volume share in the global nonmetallic mineral product market. Industries such as jewelry, astrology, cement manufacturing, etc. are increasing significantly in APEJ. Eastern Europe and Japan also accounts for significant value share in the nonmetallic mineral product market over the forecast period. The developing economy such as Middle East Africa and Latin America have been exhibiting reasonable opportunity in the global nonmetallic mineral product market, owing to the average growth rate in the construction industry and growing the population. Overall, the outlook for the global nonmetallic mineral product market will have a growth over the forecast period, owing to the increasing demand for the nonmetallic mineral product in the manufacturing of various goods and products.
Nonmetallic Mineral Product: Key Players
Some of the market players identified in the global Nonmetallic Mineral Product market includes:
- BASF SE
- Ash Grove Cement Company
- Guardian Industries
- USG Corporation
- Asahi Glass
- Compagnie de Saint-Gobain
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