In 2023, industrial sand and gravel sold or used in Montana stood at 118.5 thousand metric tons. Analyzing the forecast from 2024 to 2028, there is a consistent annual increase in volume, with a year-on-year growth rate of approximately 3.8%. The compound annual growth rate (CAGR) for this period is calculated to be about 3.5%. This indicates a steady increase in demand for industrial sand and gravel over the next five years.
Future trends to watch for include:
- Potential shifts in construction and industrial activities may impact demand.
- Regulatory changes could affect mining and usage of industrial sand and gravel.
- Technological advancements that either improve efficiency of use or lessen the demand.