The forecasted gross income of non-metallic mineral products in the UK shows a steady growth from 2024 to 2028, starting at £91 million and rising to £97 million. In 2023, the gross income stood at £90 million. This represents a consistent year-on-year growth ranging from 1.1% to 2.1%. Over the five-year period, the compound annual growth rate (CAGR) is expected to be around 1.5%.
Future trends to watch for:
- Developments in construction industry demand which heavily influences non-metallic mineral products.
- Impact of economic factors, such as inflation and governmental policies.
- Technological advancements in production efficiency and material innovation.
- Environmental regulations affecting production practices and market dynamics.