In 2023, the consumption of non-metallic minerals in Saudi Arabia stood at a figure slightly higher than the forecasted values for subsequent years. The data reveals a slow but steady decline in consumption values from 2024 onwards, indicating a trend of minor contractions year-on-year. Specifically, the consumption is expected to drop by approximately 0.03% each year from 2024 to 2028. The compound annual growth rate (CAGR) over the five years from 2024 to 2028 shows an overall negative trend, indicating a slight but continuous decrease in non-metallic minerals consumption.
For future trends to watch:
• Environmental regulations and sustainable practices may further impact consumption.• Technological advancements in the mining and construction sectors could influence demand shifts.• Economic diversification efforts in line with Saudi Vision 2030 might alter the usage and need for non-metallic minerals.• Global supply chain dynamics and local market conditions will play a crucial role in shaping future consumption trends.