Mineral & Phosphate Mining in the US - Market Research Report (2014-2029)
New York, United States
Last Updated: July 2024
NAICS 21239Revenue
$8.4bn
Past 5-Year Growth
Profit
$XXX.Xm
Employees
9,703
Businesses
187
Wages
$XXX.Xm
Mineral & Phosphate Mining in the US industry analysis
Mineral and phosphate miners have seen their share of ups and downs in recent years, mainly driven by erratic commodity prices and various economic disruptions. Revenue and profit have been on a rollercoaster ride, oscillating with fluctuating demand and prices for key minerals like sulfur, soda ash, phosphate rock and salt. The pandemic initially depressed prices for some minerals, delivering a blow to revenue, but an economic rebound fueled a surge in demand and, in turn, prices for these commodities. Even so, prices came down to earth towards the end of the period, leading to revenue dips. Overall, revenue is set to lag at a CAGR of 0.6%, reaching $8.4 billion, including a 0.4% dip in 2024.
Trends and Insights
- Commodity prices have experienced drastic swings because of supply chain issues and geopolitical tensions. Prices surged significantly but later came down, leading to a revenue drop.
- Rock salt sales hinge on winter weather since it's used to deice roads. Recent warm winters have caused rock salt sales to push down.
- Mines are spread across various regions. Most businesses are concentrated in the Rocky Mountains, the West, the Southeast and the Southwest. Each area plays a vital role in different mineral productions.
- The level of competition remains intense. Larger companies are taking over smaller ones that can't handle the increased capital costs, leading to higher market concentration.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has declined at a CAGR of 0.6 % over the past five years, to reach an estimated $8.4bn in 2024.
Trends and Insights
Commodity prices shifts drastically swing revenue
- Both revenue and profit have remained volatile amid fluctuations in underlying commodity prices and mismatches between supply and demand. Amid the pandemic, prices for sulfur and soda ash dipped causing revenue to fall massively. Even so, phosphate rock and salt prices crept up, preventing massive downturns.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Production expansion counteracts lower prices
- Oil, gas and fertilizer prices are all set to dip as mineral prices normalize from the massive spikes experienced during the current period. Even so, production is ramping up as miners operate near full capacity again, pushing revenue up.
Biggest companies in the Mineral & Phosphate Mining in the US
| Company | Market Share (%)
2024 | Revenue ($m)
2024 | Profit ($m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
Mosaic Co | 3,454.5 | 751.0 | 21.7 | |
Compass Minerals International, Inc. | 543.6 | 106.8 | 19.6 | |
Rio Tinto Plc | 413.1 | 85.5 | 20.7 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Phosphate, Potash and Soda ash. Phosphate is the largest segment of the Mineral & Phosphate Mining in the US.
Trends and Insights
Rock salt varies with weather patterns
- The need for rock salt is closely linked to winter weather trends and the stockpiling habits of local and state transportation authorities for winter weather preparedness. Municipalities, businesses and households use this mineral for deicing roadways and pathways in anticipation of snowfalls and ice storms.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Stone Mining in the US
- Sand & Gravel Mining in the US
- Fertilizer Manufacturing in the US
- Gypsum Product Manufacturing in the US
International industries
- Mineral & Phosphate Mining in Canada
- Lithium and Other Non-Metallic Mineral Mining in Australia
- Chemical & Fertiliser Mineral Mining in the UK
- Salt Extraction in the UK
Table of Contents
About this industry
Industry definition
Operators in this industry primarily mine, mill and beneficiate nonmetallic minerals. Principal industry products and activities are potash and soda, as well as borate mineral mining, phosphate rock mining, mining other chemicals and mineral fertilizers (e.g. rock salt, native sulfur and barite) and other nonmetallic mineral mining (e.g. diatomite, gypsum, mica, pumice and talc).
What's included in this industry?
Potassium salts and boron mining, quarrying and beneficiatingSodium carbonate and sulfate mining, quarrying and beneficiatingPhosphate rock mining, quarrying and beneficiatingRock salt mining, quarrying and beneficiatingBarite mining, quarrying and beneficiatingNative sulfur mining, quarrying and beneficiatingDiatomite and perlite mining, quarrying and beneficiatingGypsum mining, quarrying and beneficiatingTalc, soapstone and pyrophyllite mining, quarrying and beneficiatingPumice, mica, shell, natural asphalt and peat mining, quarrying and beneficiatingCompanies
Mosaic CoCompass Minerals International, Inc.Rio Tinto PlcPurchase this report to view all 3 major companies in this industry.
Related Terms
MINERALNONMETALLIC MINERALSSODA ASHPOTASHIndustry Code
NAICS 21239 - Mineral & Phosphate Mining in the US
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
Commodity prices have experienced drastic swings because of supply chain issues and geopolitical tensions. Prices surged significantly but later came down, leading to a reven...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
Rock salt sales hinge on winter weather since it's used to deice roads. Recent warm winters have caused rock salt sales to push down.
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Mines are spread across various regions. Most businesses are concentrated in the Rocky Mountains, the West, the Southeast and the Southwest. Each area plays a vital role in d...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each state
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each state in 2024
- Number and share of revenue each state accounts for in 2024
- Number and share of wages each state accounts for in 2024
- Number and share of employees in each state in 2024
Detailed analysis
- Geographic spread of the industry across North America, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
The level of competition remains intense. Larger companies are taking over smaller ones that can't handle the increased capital costs, leading to higher market concentration.
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
Compass Minerals announces addition to Hydro Bullet product line. The Hydro Bullet product line is comprised of research-driven nutrient combinations that support specific ne...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Mosaic Co's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Compass Minerals International, Inc.'s performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Rio Tinto Plc's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Mosaic Co, and factors influencing its performance in the industry
- Description and key data for Compass Minerals International, Inc., and factors influencing its performance in the industry
- Description and key data for Rio Tinto Plc, and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
Governments use tax deductions to spark interest in exploring and producing minerals, driving economic growth and job creation. They encourage companies to tap into untapped ...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Automation reduces wages, but skilled workers are still crucial. Even as businesses invest more in automation, finding and retaining highly skilled and motivated employees re...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Industry Multiples (2017-2022)
- Industry Tax Structure (2017-2022)
- Income Statement (2017-2022)
- Balance Sheet (2017-2022)
- Liquidity Ratios (2017-2022)
- Coverage Ratios (2017-2022)
- Leverage Ratios (2017-2022)
- Operating Ratios (2017-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the US include:
- US Census Bureau
- US Bureau of Labor Statistics
- US International Trade Commission
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Mineral & Phosphate Mining in the US industry in United States in 2024?
The market size of the Mineral & Phosphate Mining in the US industry in United States is $8.4bn in 2024.
How many businesses are there in the Mineral & Phosphate Mining in the US industry in 2024?
There are 187 businesses in the Mineral & Phosphate Mining in the US industry in United States, which has grown at a CAGR of 1.0 % between 2019 and 2024.
Has the Mineral & Phosphate Mining in the US industry in United States grown or declined over the past 5 years?
The market size of the Mineral & Phosphate Mining in the US industry in United States has been declining at a CAGR of 0.6 % between 2019 and 2024.
What is the forecast growth of the Mineral & Phosphate Mining in the US industry in United States over the next 5 years?
Over the next five years, the Mineral & Phosphate Mining in the US industry in United States is expected to grow.
What are the biggest companies in the Mineral & Phosphate Mining in the US market in United States?
The biggest companies operating in the Mineral & Phosphate Mining market in United States are Mosaic Co, Compass Minerals International, Inc. and Rio Tinto Plc
What does the Mineral & Phosphate Mining in the US in United States include?
Potassium salts and boron mining, quarrying and beneficiating and Sodium carbonate and sulfate mining, quarrying and beneficiating are part of the Mineral & Phosphate Mining in the US industry.
Which companies have the highest market share in the Mineral & Phosphate Mining in the US in United States?
The company holding the most market share in United States is Mosaic Co.
How competitive is the Mineral & Phosphate Mining in the US industry in United States?
The level of competition is moderate and increasing in the Mineral & Phosphate Mining in the US industry in United States.
