Analysis of data from 2024 to 2028 shows the following forecasted values for non-metallic minerals consumption in Australia (values are expressed in millions of metric tons):
- 2024: 29.58
- 2025: 29.78
- 2026: 29.97
- 2027: 30.16
- 2028: 30.34
Year-on-year percentage variation:
- 2024-2025: (29.78 - 29.58) / 29.58 * 100 = 0.68%
- 2025-2026: (29.97 - 29.78) / 29.78 * 100 = 0.64%
- 2026-2027: (30.16 - 29.97) / 29.97 * 100 = 0.63%
- 2027-2028: (30.34 - 30.16) / 30.16 * 100 = 0.60%
The compound annual growth rate (CAGR) from 2024 to 2028 is calculated as:
- CAGR = [(30.34 / 29.58)^(1/4) - 1] * 100 ≈ 0.64%
Future trends: Watch for technological advancements that could affect production efficiencies and consumption patterns, as well as policy changes related to environmental sustainability and resource management that may influence market dynamics.
