The minerals are the naturally
occurring, inorganic solids, with a characteristic chemical composition, having
a regular atomic structure throughout. The mineral product manufacturing
comprise of sales of mineral products over different organizations that offers
different products such as bricks, refractories, ceramic products, and glass
and glass products, plate glass and containers. The market further comprise of
companies that are associated to cement and concrete products, lime, gypsum and
other nonmetallic mineral products including abrasive products, ceramic
plumbing fixtures, statuary, cut stone products, and mineral wool. The advanced
ceramics plays a cost effective role and is considered to be better providing
better alternatives to metals, plastics and glass due to ability of offering
better performance. The advanced ceramics can be identified by high chemical
purity and careful processing. They are further used as thermal barrier coating
by a hot part engines, ceramic composite, thermal protection system, and engine
components seen in sensors and antennas.
According to study, “Mineral
Products Global Market Report 2019” the key companies operating
in the global mineral products market are Lafargeholcim Ltd., Compagnie de
Saint-Gobain SA, Cemex SAB de CV, CRH Plc., Heidelberg Cement AG. The global
market is characterized with the aid of the presence of numerous small and huge
manufacturers and suppliers, making the competitive landscape highly
fragmented. Competition in intense a number of the extraordinary players within
the market, with maximum bigwigs outsmarting smaller regional rivals with
higher products and robust distribution network. Another commonplace trend in
the market is companies leveraging pricing, product differentiation,
customization, and preservation services to grow their marketplace share.
Based on type, mineral products
market is segmented into glass & glass product manufacturing, cement &
concrete product manufacturing, non-metallic mineral product manufacturing;
lime & gypsum product manufacturing and clay product & refractory
manufacturing. In addition, based on end-use, market is segmented into
manufacturing, construction and others. Manufacturing segment is further
sub-segmented into ready-mix concrete manufacturing, concrete pipe, brick, and
block manufacturing, cement manufacturing and other concrete product
manufacturing (clay building material & refractories manufacturing;
pottery, ceramics, and plumbing fixture manufacturing, gypsum product
manufacturing and lime product manufacturing).
The mineral products market is
driven by rapid growth in the construction industry in emerging markets,
followed by increase in disposable incomes across developing economies, rise in
awareness about the product as well as higher demand for efficient products
such as solar control glass and rise in demand for limestone, glass, and
cement. However, high price associated with mineral products may impact the
market. Moreover, growth in online distribution channel for mineral products is
a key trend for market.
Based on geography, the
Asian-Pacific region holds major share in global mineral products market owing
to growth in adoption of smart glass in production of automobiles in the
region. Whereas, the North-American and European regions are estimated to
witness higher growth rate due to higher uptake of innovative non-metallic
mineral products and better technological infrastructure over the forecast
period. In near future, it is expected that the market will be reached at quick
pace as a result of rise in awareness about the product coupled with higher
demand for efficient products such as solar control glass during the forecast
period.
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