Strategic Mineral Materials - Global Market Outlook (2018-2027)
According to Stratistics MRC, the Global Strategic Mineral Materials market is growing at a CAGR of 6.8% during 2018 to 2027. Factors such as rising demand from various strategic minerals from different end-user industries such as electrical, electronics, automotive, aerospace, and construction are driving the market growth. Though, impact of COVID-19 pandemic restrains the market growth. Moreover, growing application base for different strategic minerals is creating ample opportunities across the globe.
Strategic Mineral Materials are materials, usually raw materials that have a particular strategic significance to a government or nation, often in time of war. Their strategic need is because of their crucial importance for either economic or military purposes. Some materials are relatively simple, but are required in great quantities during wartime. Others are obscure and technically complex. Although not required in large quantities, their irreplaceability and critical need makes them especially valuable. Foodstuffs are not generally classed as strategic materials although vital, they are treated separately.
Based on minerals, beryllium segment is expected to have a huge demand in the forecast period owing to its properties such as more stiffness, lightweight, and more flexible modulus. Huge cost and lack of product accessibility to fulfill demand from application industries across the globe are expected to impel the end-users to replace the product with low- cost substitutes including aluminum, copper alloys and titanium.
Some of the key players in Strategic Mineral Materials Market include Anglo American plc, CBMM, Glencore, Indium Corporation, Intercontinental Mining, Materion Corporation, South32, Vale, and WARRIOR GOLD INC.
• Rare Earth Elements
• Platinum Group Elements
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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