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Strategic Mineral Materials Market Size, Share, Industry Trends and Forecast to 2030

Strategic Mineral Materials Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.


  • Published date -30th Jan 2024

  • Formats -PDF, CSV

  • Region -Global

Strategic Mineral Materials Market Size & CAGR in 2021

The global strategic mineral materials market is projected to witness a CAGR of 5.2% from 2021 to 2026. As a result, the market is estimated to reach a value of USD 180 billion by the end of 2021.

COVID-19 Impact on the Strategic Mineral Materials Market

The COVID-19 pandemic had a significant impact on the strategic mineral materials market in 2020 and 2021. The global supply chain disruptions, reduced demand from end-use industries, and restrictions on mining activities led to a decline in the market growth during the pandemic.

However, with the gradual reopening of economies and the increasing demand for strategic mineral materials in sectors such as electronics, renewable energy, and healthcare, the market is expected to recover and witness positive growth in the coming years.

Strategic Mineral Materials Dynamics

The strategic mineral materials market is driven by several factors, including the growing demand for rare earth elements in electronic devices, the increasing focus on sustainability and green technologies, and the rising investments in renewable energy sources such as solar and wind power.

On the other hand, challenges such as geopolitical tensions, regulatory constraints on mining activities, and environmental concerns related to mining operations pose a threat to the market growth.

Segments and Related Analysis

The strategic mineral materials market can be segmented based on type, application, and region. The key types of strategic mineral materials include rare earth elements, lithium, cobalt, and graphite.

In terms of applications, the market is divided into electronics, energy storage, automotive, aerospace, and healthcare. Each of these segments plays a crucial role in driving the demand for strategic mineral materials.

By Region Analysis

The strategic mineral materials market is geographically segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Each region has its unique dynamics and factors influencing the market growth.

North America and Europe are the leading regions in terms of consumption of strategic mineral materials, driven by the presence of key end-use industries and technological advancements. Asia Pacific is projected to witness the fastest growth due to the increasing demand from emerging economies such as China and India.

Key Market Players and Competitive Landscape

Some of the key players in the strategic mineral materials market include BHP Billiton, Rio Tinto, Glencore, Albemarle Corporation, and Freeport-McMoRan. These companies are actively involved in strategic partnerships, mergers and acquisitions, and research and development activities to gain a competitive edge in the market.

The competitive landscape of the market is characterized by intense competition, with players vying for market share through innovative product offerings, geographical expansion, and strategic investments in new technologies.

Recent Happenings in the Strategic Mineral Materials Market

In recent years, the strategic mineral materials market has witnessed several significant developments, including:

- Increasing investments in lithium mining projects to meet the growing demand for lithium-ion batteries in electric vehicles and energy storage systems.

- Strategic alliances between mining companies and technology firms to develop sustainable mining practices and improve environmental performance.

- Rising concerns over the supply chain risks associated with strategic mineral materials, leading to the exploration of alternative sources and recycling technologies.

Overall, the strategic mineral materials market is poised for robust growth in the coming years, driven by the increasing demand for minerals in key industries and the focus on sustainable and responsible mining practices.

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