The Dry Bulk Materials Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Dry Bulk Materials Global Market Report 2024, The dry bulk materials market size has grown strongly in recent years. It will grow from $402.16 billion in 2023 to $437.21 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to increase in the shipping of steel and coal, rise of seaborne trade, strong economic growth in emerging markets, increasing industrialization and growing urbanization.
The dry bulk materials market size is expected to see strong growth in the next few years. It will grow to $598.14 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The growth in the forecast period can be attributed to increase in iron ore and coal transportation, growing demand for dry bulk shipping, increase in the shipping of steel, increasing infrastructure projects and growing demand for iron ore, coal, grain, bauxite/alumina. Major trends in the forecast period include technological advancements, sustainable materials, volatile raw material prices, lower investment in newbuilds and market intelligence.
Rising demand for raw materials for the manufacturing, defense, and infrastructure sectors is driving the growth of the dry bulk material trucking market. This upsurge in demand is attributed to the rise in industrialization, population, and urbanization. For instance, according to the report of the World Bank, the European mineral raw materials industry demonstrated a considerable increase in the production of minerals needed for clean energy technologies. It additionally clarifies the requirement for a wide range of minerals and metals for implementing renewable energy strategies and their related infrastructure. The demand for minerals such as graphite, lithium, and cobalt is expected to be as high as 500% by 2050. There is a need for efficient dry bulk trucks to carry these dry bulk materials, thereby driving the growth of dry bulk materials market.
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The dry bulk materials market covered in this report is segmented –
1) By Commodity Type: Iron Ore; Coal And Pet Coke; Grains And Agricultural Products; Cement/ Aggregates; Fertilizers; Other Commodity Types
2) By Application: Food And Beverages; Construction; Automotive; Energy And Mining; Agriculture; Chemicals; Other Applications
3) By End Use: Iron Ore; Steel Products; Lumber or Log; Other End Users
The dry bulk materials market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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