The global minerals market is valued at USD 1.21 trillion in 2024, driven by strong consumption from construction, metallurgy, energy, fertilizers, and advanced manufacturing. Asia-Pacific, led by China, dominates the minerals market with over 55% of total mineral consumption, reflecting its scale in steelmaking, electronics, and clean energy supply chains. Developed regions such as North America and Europe maintain higher average pricing due to stricter environmental standards, permitting costs, and supply security initiatives, while Asia-Pacific leverages cost-efficient extraction and integrated processing capacities to secure volume growth. Structural demand is reinforced by global infrastructure expansion and the ongoing energy transition, although supply chains face challenges from commodity price cycles, resource nationalism, and transport disruptions.
Minerals overview
Published by MMR Statistics Research Team, Updated