Market Size of Strategic Mineral Materials Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| CAGR | > 5.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Strategic Mineral Materials Market Analysis
The market for strategic mineral materials is expected to witness a CAGR of around 5% during the forecast period. Growing demand for different strategic minerals from various end-user industries such as eletrical and electronics, automotive, aerospace, and construction, among others is likely to drive the market growth.
- On the flipside, the impact of COVID-19 pandemic and increasing environmental concerns regarding mining operations is expected to hinder the growth of the market.
- Increasing application base for various strategic minerals is projected to act as an opportunity in the future.
- Asia-Pacific dominated the market with the largest consumption coming from China, followed by India, South Korea, and Japan.
Strategic Mineral Materials Industry Segmentation
The strategic mineral materials market report includes:
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Strategic Mineral Materials Market Size Summary
The strategic mineral materials market is poised for steady growth, driven by increasing demand from diverse sectors such as electronics, automotive, aerospace, and construction. The market's expansion is supported by the growing application of minerals like niobium, which plays a crucial role in enhancing the properties of steel, particularly in high-strength and low-alloy (HSLA) applications. This demand is particularly pronounced in the Asia-Pacific region, where countries like China, India, South Korea, and Japan are leading consumers due to their burgeoning industries. Despite the positive outlook, challenges such as the lingering effects of the COVID-19 pandemic and environmental concerns related to mining activities pose potential hurdles to market growth.
The Asia-Pacific region remains a dominant force in the global strategic mineral materials market, with significant consumption driven by the rapid development of the electrical and electronics industry, alongside the aerospace sector's increasing demand for innovative manufacturing solutions. The market is characterized by its fragmented nature, with numerous players such as Intercontinental Mining, Vale, Anglo American plc, Glencore, CBMM, and Materion Corporation actively participating. These companies are pivotal in meeting the rising demand for strategic minerals, which are essential for various high-tech and industrial applications. As the market evolves, the strategic mineral materials sector is expected to continue its upward trajectory, leveraging opportunities presented by expanding application bases and technological advancements.
Strategic Mineral Materials Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Demand from Various End-user Industries
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Impact of COVID-19 Pandemic
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1.2.2 Growing Environmental Concerns over Mining Operations
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1.3 Industry Value-chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Consumers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Mineral
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2.1.1 Antimony
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2.1.1.1 Flame Retardants
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2.1.1.2 Batteries
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2.1.1.3 Ceramics and Glass
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2.1.1.4 Catalyst
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2.1.1.5 Alloys
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2.1.2 Barite
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2.1.2.1 Oil and Gas
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2.1.2.2 Other Applications (paints, chemical manufacturing and others)
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2.1.3 Beryllium
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2.1.3.1 Electronics
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2.1.3.2 Aerospace
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2.1.3.3 Automotive
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2.1.3.4 Energy
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2.1.3.5 Other Applications
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2.1.4 Cobalt
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2.1.4.1 Batteries
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2.1.4.2 Superalloys
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2.1.4.3 Cemented Carbides and Diamond Tools
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2.1.4.4 Catalysts
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2.1.4.5 Other Applications
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2.1.5 Fluorspar
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2.1.5.1 Chemicals
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2.1.5.2 Steel
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2.1.5.3 Aluminum
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2.1.5.4 Cement
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2.1.5.5 Other Applications
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2.1.6 Gallium
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2.1.6.1 Integrated Circuits
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2.1.6.2 Laser diodes
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2.1.6.3 Photodetectors
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2.1.6.4 Solar Cells
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2.1.6.5 Other Applications
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2.1.7 Germanium
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2.1.7.1 Fiber Optics
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2.1.7.2 Infrared Optics
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2.1.7.3 Catalyst
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2.1.7.4 Electrical and Solar Equipment
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2.1.7.5 Other Applications
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2.1.8 Indium
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2.1.8.1 Flat-Panel Display Screens and Touchscreens
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2.1.8.2 Low Melting Alloys and Solders
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2.1.8.3 Semiconductors
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2.1.8.4 Transparent Heat Reflectors
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2.1.8.5 Other Applications
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2.1.9 Manganese
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2.1.9.1 Casting Alloys
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2.1.9.2 Packaging
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2.1.9.3 Transportation
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2.1.9.4 Construction
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2.1.9.5 Other Applications
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2.1.10 Niobium
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2.1.10.1 Steel
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2.1.10.2 Super Alloys
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2.1.10.3 Superconducting Magnets
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2.1.10.4 Capacitors
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2.1.10.5 Glass
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2.1.10.6 Other Applications
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2.1.11 Platinum Group Elements
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2.1.11.1 Autocatalyst
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2.1.11.2 Jewelry
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2.1.11.3 Electrical & Electronics
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2.1.11.4 Chemical
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2.1.11.5 Other Applications
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2.1.12 Rare Earth Elements
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2.1.12.1 Catalyst
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2.1.12.2 Batteries
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2.1.12.3 Magnetic Alloys
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2.1.12.4 Metallurgy
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2.1.12.5 Other Applications
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2.1.13 Tantalum
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2.1.13.1 Electronics
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2.1.13.2 Medical
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2.1.13.3 Aerospace
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2.1.13.4 Automotive
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2.1.13.5 Other Applications
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2.2 Geography
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2.2.1 Asia-Pacific
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2.2.1.1 China
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2.2.1.2 India
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2.2.1.3 Japan
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2.2.1.4 South Korea
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2.2.1.5 ASEAN Countries
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2.2.1.6 Rest of Asia-Pacific
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2.2.2 North America
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2.2.2.1 United States
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2.2.2.2 Canada
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2.2.2.3 Mexico
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2.2.3 Europe
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2.2.3.1 Germany
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2.2.3.2 United Kingdom
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2.2.3.3 Italy
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2.2.3.4 France
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2.2.3.5 Spain
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2.2.3.6 Rest of Europe
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle-East and Africa
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2.2.5.1 Saudi Arabia
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2.2.5.2 South Africa
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2.2.5.3 Rest of Middle-East and Africa
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Strategic Mineral Materials Market Size FAQs
What is the current Strategic Mineral Materials Market size?
The Strategic Mineral Materials Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)
Who are the key players in Strategic Mineral Materials Market?
Anglo American plc, Glencore, Intercontinental Mining, Materion Corporation and Vale are the major companies operating in the Strategic Mineral Materials Market.
