From 2013 to 2023, the consumption of non-metallic minerals in India has shown a steady uptrend, reaching 53.8 units in 2023. From 2021 to 2023, the year-on-year variation averaged around 0.75% per year. Analyzing the forecasted data from 2024 onwards, the annual growth rate is projected to be approximately 0.54% over the next five years, culminating in a value of 55.68 units by 2028. This represents a cumulative growth rate of 2.75% over the forecast period.
Future trends to watch for:
- Increased infrastructure projects and urbanization efforts.
- Innovations in construction materials technology.
- Environmental regulations shaping consumption patterns.
