Infrastructural development projected to drive growth in the Industrial Minerals market

Industrial minerals consumption patterns are primarily dependent on the movement of the global construction sector. Despite sluggish growth estimated in the global construction sector in 2023, the momentum is expected to pick up in 2024 with an annual average growth rate of 3.9% from 2024 to 2027. In addition, the changing geopolitical dynamics especially related to oil and gas trade around the globe are likely to further hamper confidence levels over the short-term period. Per GlobalData, the industrial minerals market volumetric demand is projected to reach 2,377.7 million tonnes in 2023, registering a CAGR of 2.8% (2023 - 2030).