GITNUX REPORT 2024

Global Mining Industry: Market to Reach $1,845.55B in 2021

Exploring the Booming Global Mining Industry: $2.4 Trillion Projected Market by 2025 Revealed!

Author: Jannik Lindner

First published: 7/17/2024

Statistic 1

The mining industry employs approximately 1% of the global workforce.

Statistic 2

The mining industry accounts for 2-3% of global CO2 emissions.

Statistic 3

Gold mining is responsible for about 0.2% of global greenhouse gas emissions.

Statistic 4

The global mining waste management market size was valued at $173.89 billion in 2019.

Statistic 5

The mining waste management market is expected to grow at a CAGR of 6.1% from 2020 to 2027.

Statistic 6

The global mining dust suppression chemicals market size was valued at $6.48 billion in 2019.

Statistic 7

The mining dust suppression chemicals market is expected to grow at a CAGR of 4.8% from 2020 to 2027.

Statistic 8

The global mining water treatment market size was valued at $2.29 billion in 2019.

Statistic 9

The mining water treatment market is expected to grow at a CAGR of 7.6% from 2020 to 2027.

Statistic 10

The global mining equipment market size was valued at $144.37 billion in 2019.

Statistic 11

The mining equipment market is expected to grow at a CAGR of 12.7% from 2020 to 2027.

Statistic 12

The global mining chemicals market size was valued at $23.42 billion in 2019.

Statistic 13

The mining chemicals market is expected to grow at a CAGR of 6.7% from 2020 to 2027.

Statistic 14

The global mining lubricants market size was valued at $2.06 billion in 2019.

Statistic 15

The mining lubricants market is expected to grow at a CAGR of 4.5% from 2020 to 2027.

Statistic 16

The global mining drill bits market size was valued at $1.15 billion in 2019.

Statistic 17

The mining drill bits market is expected to grow at a CAGR of 3.7% from 2020 to 2027.

Statistic 18

The global mining explosives market size was valued at $14.58 billion in 2019.

Statistic 19

The mining explosives market is expected to grow at a CAGR of 4.2% from 2020 to 2027.

Statistic 20

The global mining ventilation market size was valued at $326.2 million in 2019.

Statistic 21

The mining ventilation market is expected to grow at a CAGR of 4.5% from 2020 to 2027.

Statistic 22

The global mining remanufacturing components market size was valued at $3.32 billion in 2019.

Statistic 23

The mining remanufacturing components market is expected to grow at a CAGR of 3.4% from 2020 to 2027.

Statistic 24

The global mining pumps market size was valued at $2.1 billion in 2019.

Statistic 25

The mining pumps market is expected to grow at a CAGR of 2.9% from 2020 to 2027.

Statistic 26

The global mining collectors market size was valued at $9.43 billion in 2019.

Statistic 27

The mining collectors market is expected to grow at a CAGR of 5.7% from 2020 to 2027.

Statistic 28

The global mining tire market size was valued at $5.40 billion in 2019.

Statistic 29

The mining tire market is expected to grow at a CAGR of 4.0% from 2020 to 2027.

Statistic 30

The global mining hoses market size was valued at $330.5 million in 2019.

Statistic 31

The mining hoses market is expected to grow at a CAGR of 5.6% from 2020 to 2027.

Statistic 32

The global mining flotation chemicals market size was valued at $6.38 billion in 2019.

Statistic 33

The mining flotation chemicals market is expected to grow at a CAGR of 3.4% from 2020 to 2027.

Statistic 34

The global mining lubricants market size was valued at $2.06 billion in 2019.

Statistic 35

The mining lubricants market is expected to grow at a CAGR of 4.5% from 2020 to 2027.

Statistic 36

The global mining market is expected to grow from $1,641.67 billion in 2020 to $1,845.55 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%.

Statistic 37

By 2025, the global mining market is projected to reach $2,427.85 billion, with a CAGR of 7%.

Statistic 38

In 2019, the top 40 global mining companies had a total revenue of $692 billion.

Statistic 39

The global lithium market size was valued at $4.23 billion in 2019.

Statistic 40

The lithium market is expected to grow at a CAGR of 1.9% from 2020 to 2027.

Statistic 41

The global rare earth elements market size was valued at $2.80 billion in 2018.

Statistic 42

The rare earth elements market is expected to grow at a CAGR of 10.4% from 2019 to 2025.

Statistic 43

China is the world's largest producer of coal, gold, and most rare earth elements.

Statistic 44

Australia is the largest producer of iron ore, accounting for 37% of global production.

Statistic 45

Copper production is expected to grow by 3.1% annually until 2029.

Statistic 46

In 2020, global gold mine production was approximately 3,200 metric tons.

Statistic 47

In 2019, the global production of iron ore was approximately 2.9 billion metric tons.

Statistic 48

In 2020, the global production of copper was approximately 20 million metric tons.

Statistic 49

In 2020, global silver mine production was approximately 25,000 metric tons.

Statistic 50

In 2020, global bauxite production was approximately 371 million metric tons.

Statistic 51

In 2020, global nickel production was approximately 2.5 million metric tons.

Statistic 52

In 2020, global zinc production was approximately 12 million metric tons.

Statistic 53

In 2020, global lead production was approximately 4.5 million metric tons.

Statistic 54

In 2020, global uranium production was approximately 47,731 metric tons.

Statistic 55

In 2020, global diamond production was approximately 111 million carats.

Statistic 56

In 2020, global platinum production was approximately 170 metric tons.

Statistic 57

In 2020, global palladium production was approximately 210 metric tons.

Statistic 58

In 2020, global cobalt production was approximately 140,000 metric tons.

Statistic 59

In 2020, global molybdenum production was approximately 300,000 metric tons.

Statistic 60

In 2020, global lithium production was approximately 82,000 metric tons.

Statistic 61

In 2020, global rare earth elements production was approximately 240,000 metric tons.

Statistic 62

In 2020, global tin production was approximately 280,000 metric tons.

Statistic 63

The global mining automation market size was valued at $2.22 billion in 2019.

Statistic 64

The mining automation market is expected to grow at a CAGR of 7.3% from 2020 to 2027.

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Summary

  • The global mining market is expected to grow from $1,641.67 billion in 2020 to $1,845.55 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%.
  • By 2025, the global mining market is projected to reach $2,427.85 billion, with a CAGR of 7%.
  • China is the world's largest producer of coal, gold, and most rare earth elements.
  • Australia is the largest producer of iron ore, accounting for 37% of global production.
  • The mining industry accounts for 2-3% of global CO2 emissions.
  • The global mining equipment market size was valued at $144.37 billion in 2019.
  • The mining equipment market is expected to grow at a CAGR of 12.7% from 2020 to 2027.
  • In 2019, the top 40 global mining companies had a total revenue of $692 billion.
  • The mining industry employs approximately 1% of the global workforce.
  • Copper production is expected to grow by 3.1% annually until 2029.
  • The global lithium market size was valued at $4.23 billion in 2019.
  • The lithium market is expected to grow at a CAGR of 1.9% from 2020 to 2027.
  • Gold mining is responsible for about 0.2% of global greenhouse gas emissions.
  • The global rare earth elements market size was valued at $2.80 billion in 2018.
  • The rare earth elements market is expected to grow at a CAGR of 10.4% from 2019 to 2025.

Unearthing the glittering treasures and heavy weights of the global mining industry is akin to delving into a captivating saga of riches and earth-shaking dynamics. Brace yourselves for a dazzling ride through the depths of a sector thats set to explode like dynamite, with its market value projected to skyrocket from $1.6 trillion to $2.4 trillion by 2025 at a pace that would make even the most precious metals blush. From Chinas coal-gold-rare earth dominance to Australias iron ore prowess, this glittering expose will dig deep into the rock-solid statistics that make the mining world go round. Strap on your mining helmets, dear readers, because were about to unearth a treasure trove of jaw-dropping facts and figures that will surely rock your world!

Employment

  • The mining industry employs approximately 1% of the global workforce.

Interpretation

With mining employing just 1% of the global workforce, it seems that while diamonds may be forever, mining jobs are not. This statistic shines a light on the industry's significant economic impact with a relatively small labor force. It's clear that mining already plays a crucial role in our world, setting the foundation for various industries, but also highlights the need for diversification and innovation in creating sustainable job opportunities for the future.

Environmental Impact

  • The mining industry accounts for 2-3% of global CO2 emissions.
  • Gold mining is responsible for about 0.2% of global greenhouse gas emissions.
  • The global mining waste management market size was valued at $173.89 billion in 2019.
  • The mining waste management market is expected to grow at a CAGR of 6.1% from 2020 to 2027.
  • The global mining dust suppression chemicals market size was valued at $6.48 billion in 2019.
  • The mining dust suppression chemicals market is expected to grow at a CAGR of 4.8% from 2020 to 2027.
  • The global mining water treatment market size was valued at $2.29 billion in 2019.
  • The mining water treatment market is expected to grow at a CAGR of 7.6% from 2020 to 2027.

Interpretation

While the mining industry may be known for digging deep into the earth, its environmental impact is reaching new heights with its contribution to global CO2 emissions. Gold mining, while glamorous in name, shines a light on its darker side as a significant contributor to greenhouse gas emissions. However, in the midst of all this earth-moving and emission-producing activity, the market for managing mining waste seems to be flourishing, a multi-billion-dollar industry in itself. With the expected growth in markets for dust suppression chemicals and water treatment, it seems that as the mining industry continues to reach for the stars, there are those in the business of cleaning up after its mess, hoping to make a splash in the market.

Equipment

  • The global mining equipment market size was valued at $144.37 billion in 2019.
  • The mining equipment market is expected to grow at a CAGR of 12.7% from 2020 to 2027.
  • The global mining chemicals market size was valued at $23.42 billion in 2019.
  • The mining chemicals market is expected to grow at a CAGR of 6.7% from 2020 to 2027.
  • The global mining lubricants market size was valued at $2.06 billion in 2019.
  • The mining lubricants market is expected to grow at a CAGR of 4.5% from 2020 to 2027.
  • The global mining drill bits market size was valued at $1.15 billion in 2019.
  • The mining drill bits market is expected to grow at a CAGR of 3.7% from 2020 to 2027.
  • The global mining explosives market size was valued at $14.58 billion in 2019.
  • The mining explosives market is expected to grow at a CAGR of 4.2% from 2020 to 2027.
  • The global mining ventilation market size was valued at $326.2 million in 2019.
  • The mining ventilation market is expected to grow at a CAGR of 4.5% from 2020 to 2027.
  • The global mining remanufacturing components market size was valued at $3.32 billion in 2019.
  • The mining remanufacturing components market is expected to grow at a CAGR of 3.4% from 2020 to 2027.
  • The global mining pumps market size was valued at $2.1 billion in 2019.
  • The mining pumps market is expected to grow at a CAGR of 2.9% from 2020 to 2027.
  • The global mining collectors market size was valued at $9.43 billion in 2019.
  • The mining collectors market is expected to grow at a CAGR of 5.7% from 2020 to 2027.
  • The global mining tire market size was valued at $5.40 billion in 2019.
  • The mining tire market is expected to grow at a CAGR of 4.0% from 2020 to 2027.
  • The global mining hoses market size was valued at $330.5 million in 2019.
  • The mining hoses market is expected to grow at a CAGR of 5.6% from 2020 to 2027.
  • The global mining flotation chemicals market size was valued at $6.38 billion in 2019.
  • The mining flotation chemicals market is expected to grow at a CAGR of 3.4% from 2020 to 2027.
  • The global mining lubricants market size was valued at $2.06 billion in 2019.
  • The mining lubricants market is expected to grow at a CAGR of 4.5% from 2020 to 2027.

Interpretation

As the global mining industry gears up for a period of explosive growth (pun intended), with market sizes and CAGR rates that could rival the speed of a mining drill bit, it's clear that the demand for equipment, chemicals, lubricants, drill bits, explosives, ventilation systems, remanufacturing components, pumps, collectors, tires, hoses, and flotation chemicals is nothing short of dynamite. In an industry where every dollar and percentage point counts, miners will need to keep a close eye on these upward trends to ensure they don't blow up their budgets while digging for success.

Market Growth

  • The global mining market is expected to grow from $1,641.67 billion in 2020 to $1,845.55 billion in 2021 at a compound annual growth rate (CAGR) of 12.4%.
  • By 2025, the global mining market is projected to reach $2,427.85 billion, with a CAGR of 7%.
  • In 2019, the top 40 global mining companies had a total revenue of $692 billion.
  • The global lithium market size was valued at $4.23 billion in 2019.
  • The lithium market is expected to grow at a CAGR of 1.9% from 2020 to 2027.
  • The global rare earth elements market size was valued at $2.80 billion in 2018.
  • The rare earth elements market is expected to grow at a CAGR of 10.4% from 2019 to 2025.

Interpretation

As the global mining industry continues its meteoric rise, one thing is clear: these companies are digging deep for profits. With projections reaching billions and growth rates popping at double-digit percentages, it seems like the mining sector is on a treasure hunt that won't let up anytime soon. From valuable lithium to elusive rare earth elements, it's a modern-day mining rush that has everyone's pickaxes swinging. So, hold on to your hard hats and get ready to strike gold – or should we say lithium – in this booming industry that's anything but old-fashioned.

Production

  • China is the world's largest producer of coal, gold, and most rare earth elements.
  • Australia is the largest producer of iron ore, accounting for 37% of global production.
  • Copper production is expected to grow by 3.1% annually until 2029.
  • In 2020, global gold mine production was approximately 3,200 metric tons.
  • In 2019, the global production of iron ore was approximately 2.9 billion metric tons.
  • In 2020, the global production of copper was approximately 20 million metric tons.
  • In 2020, global silver mine production was approximately 25,000 metric tons.
  • In 2020, global bauxite production was approximately 371 million metric tons.
  • In 2020, global nickel production was approximately 2.5 million metric tons.
  • In 2020, global zinc production was approximately 12 million metric tons.
  • In 2020, global lead production was approximately 4.5 million metric tons.
  • In 2020, global uranium production was approximately 47,731 metric tons.
  • In 2020, global diamond production was approximately 111 million carats.
  • In 2020, global platinum production was approximately 170 metric tons.
  • In 2020, global palladium production was approximately 210 metric tons.
  • In 2020, global cobalt production was approximately 140,000 metric tons.
  • In 2020, global molybdenum production was approximately 300,000 metric tons.
  • In 2020, global lithium production was approximately 82,000 metric tons.
  • In 2020, global rare earth elements production was approximately 240,000 metric tons.
  • In 2020, global tin production was approximately 280,000 metric tons.

Interpretation

In a world where metals and minerals reign supreme, China holds court as the unrivaled powerhouse, boasting titles in coal, gold, and rare earth elements, while Australia flaunts its dominance in the iron ore arena. With copper set to stage a steady rise in production, it seems the metal is ready to take the global spotlight. As the numbers twinkle like diamonds in the rough, one thing is crystal clear – the mining industry is a treasure trove of economic significance and resource prowess, with each metric ton telling a tale of supply, demand, and the intricate dance of global commodities.

Technology

  • The global mining automation market size was valued at $2.22 billion in 2019.
  • The mining automation market is expected to grow at a CAGR of 7.3% from 2020 to 2027.

Interpretation

The global mining industry is gearing up for an automated takeover, with a market size of $2.22 billion in 2019 paving the way for a projected 7.3% growth from 2020 to 2027. As machines continue to dig deeper and smarter, it seems that even the earth itself is not safe from the rise of artificial intelligence. It appears that the days of pickaxes and dusty boots may soon be a thing of the past – the question remains, will the minerals of the future be mined by robots with a heart of gold or algorithms of steel?

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