U.S. Solution Mining Market Size & Outlook, 2021-2030
U.S. solution mining market, 2018-2030 (US$M)
Related Markets
U.S. solution mining market highlights
- The U.S. solution mining market generated a revenue of USD 1,277.9 million in 2021 and is expected to reach USD 1,680.9 million by 2030.
- The U.S. market is expected to grow at a CAGR of 3.1% from 2022 to 2030.
- In terms of segment, other products was the largest revenue generating product in 2021.
- Lithium is the most lucrative product segment registering the fastest growth during the forecast period.
Solution mining market data book summary
| Market revenue in 2021 | USD 1,277.9 million |
| Market revenue in 2030 | USD 1,680.9 million |
| Growth rate | 3.1% (CAGR from 2021 to 2030) |
| Largest segment | Other products |
| Fastest growing segment | Lithium |
| Historical data | 2018 - 2020 |
| Base year | 2021 |
| Forecast period | 2022 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Lithium, Trona, Boron, Potash, Magnesium, Other Products |
| Key market players worldwide | 5E Advanced Materials Inc, Nutrien Ltd, Vale SA ADR, Intrepid Potash Inc, Nemag, The Mosaic Co |
Other key industry trends
- In terms of revenue, U.S. accounted for 6.6% of the global solution mining market in 2021.
- Country-wise, Canada is expected to lead the global market in terms of revenue in 2030.
- In North America, Canada solution mining market is projected to lead the regional market in terms of revenue in 2030.
- U.S. is the fastest growing regional market in North America and is projected to reach USD 1,680.9 million by 2030.
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Solution Mining Market Scope
Solution Mining Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
U.S. solution mining market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to solution mining market will help companies and investors design strategic landscapes.
Other products was the largest segment with a revenue share of 46.76% in 2021. Horizon Databook has segmented the U.S. solution mining market based on lithium, trona, boron, potash, magnesium, other products covering the revenue growth of each sub-segment from 2018 to 2030.
The U.S. is an important market for solution mining in North America. According to the U.S. Environment Protection Agency (EPA), the country has 165 mining sites with approximately 18,500 class III injection wells for solution mining to extract salt, copper, sulfur, and uranium.
In Northern, Central, and Eastern U.S., boron minerals and compounds were mostly consumed to manufacture ceramics and glass industries remained the leading consumer of boron products, accounting for approximately 65% of the total borate consumption.
The U.S. consumed 480 metric tons of potash in 2021. The total sale of potash was around USD 520 million. Two companies ran two underground mines and one deep-well solution mine in southeast New Mexico, which was responsible for most of the country's production.
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Target buyers of U.S. solution mining market databook
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Our clientele includes a mix of solution mining market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the U.S. solution mining market , including forecasts for subscribers. This country databook contains high-level insights into U.S. solution mining market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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U.S. solution mining market outlook size, by product, 2018-2030 (US$M)
U.S. Solution Mining Market Outlook Share, 2021 & 2030 (US$M)
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