The output of Non-Metallic Mineral Products in Brazil has shown a fluctuating trend from 2013 to 2023. After peaking at 94.11 billion Brazilian Reals in 2014, it experienced a significant dip in subsequent years, reaching a low of 77.0 billion in 2017. A recovery phase began in 2018, and the sector has been steadily increasing, reaching 105.79 billion in 2023. Year-on-year growth highlights include a notable spike in 2020 at 14.68% and minor increases in the past two years (1.38% in 2022 and 1.35% in 2023). The Compound Annual Growth Rate (CAGR) over the last five years up to 2023 stood at 4.75%.
Looking forward to the forecasted data from 2024 to 2028, the output is expected to continue growing, albeit at a slower pace, with a forecasted average annual growth rate (CAGR) of 0.99% and an overall forecast 5-year growth rate of 5.07%. By 2028, the output is projected to reach 112.62 billion Brazilian Reals.
Future trends to watch for include:
- Economic and industrial policy changes in Brazil that could impact the manufacturing sector.
- Technological advancements in production processes leading to efficiency gains.
- Global demand for non-metallic mineral products, influenced by construction and infrastructure development.
- Environmental regulations that might affect production costs and operational capabilities.
