Mineral & Phosphate Mining in the US - Industry Market Research Report

Mineral & Phosphate Mining in the US - Industry Market Research Report

  • June 2021 •
  • 53 pages •
  • Report ID: 590441 •
  • Format: PDF
Rock solid: an improving macroeconomic environment will boost industry revenue

Abstract

Mineral & Phosphate Mining in the US
The Mineral and Phosphate Mining industry mines and processes a range of minerals used in the production of fertilizers, chemicals and downstream manufacturing applications (e.g. glass, plastics and pharmaceuticals). The United States ranks among the leading producers of many of these minerals and is expected to maintain this position over the five years to 2024. Demand for most nonmetallic minerals fell over the past five years as a result of decreasing downstream demand for industry products, particularly during the second half of the five-year period. Declining farm incomes led to lower fertilizer sales. This trend, in turn, decreased production and prices for industry commodities such as phosphate and potash. However, the diversity of the industry’s products and markets partially enabled the industry to mitigate this decline and also led to growth in certain downstream markets. International trade accounted for a substantial share of industry activity at the start of the period, with imports’ share of domestic demand surging. However, over the five years to 2019, imports’ share of domestic demand has declined as overall demand from chemical and agricultural markets decreased. This comes despite the appreciation in the US dollar appreciated against the currencies of its major trading partners during the current period, which would typically strengthen demand conditions for imports. Over the five years to 2024, improvement in the overall US economy is expected to support industry growth.

Operators in this industry primarily mine, mill and beneficiate nonmetallic minerals. Principal industry products and activities are potash and soda, as well as borate mineral mining, phosphate rock mining, mining other chemicals and mineral fertilizers (e.g. rock salt, native sulfur and barite) and other nonmetallic mineral mining (e.g. diatomite, gypsum, mica, pumice and talc).

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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