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Mineral & Phosphate Mining in Canada Industry Data and Analysis
Revenue for miners exhibited significant swings stemming from price shakeups, mainly because of potash. Canada is the world's largest producer and exporter of potash, a primary input for fertilizer manufacturers worldwide. Potash prices spiked in 2022 because of the Russia-Ukraine conflict, which imposed sanctions on the country, weakening the global supply of potash. This allowed domestic potash miners to thrive, as revenue nearly doubled. Nonetheless, prices crept down as supply stabilized, erasing some of the gains earned in 2022. Overall, revenue is set to expand at a CAGR of 1.1%, reaching $12.5 billion, including a 1.9% bump in 2025, as production continues to push upward. Even so, profit has taken a slight downturn as purchase costs swelled, as the price of inputs on equipment surged.
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What's included in this industry analysis
IBISWorld's research coverage on the Mineral & Phosphate Mining industry in Canada includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released July 2025.
About this industry
What's this industry report about?
The Mineral & Phosphate Mining industry in Canada operates under the NAICS industry code 21239CA. This industry primarily engages in the mining of nonmetals, such as minerals and phosphate. It doesn't include coal, stone, sand, gravel, clay and ceramic mines. Related terms covered in the Mineral & Phosphate Mining industry in Canada include mineral, potash, soda ash and nonmetallic minerals.
What's included in this industry?
Products and services covered in Mineral & Phosphate Mining industry in Canada include Potash, Diamonds and Rock salt.
What companies are included in this industry?
Companies covered in the Mineral & Phosphate Mining industry in Canada include Nutrien, The Mosaic Company and De Beers Group.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Mineral & Phosphate Mining industry in Canada.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Mineral & Phosphate Mining industry in Canada.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Mineral & Phosphate Mining industry in Canada.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Mineral & Phosphate Mining industry in Canada. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Mineral & Phosphate Mining industry in Canada. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Mineral & Phosphate Mining industry in Canada. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Mineral & Phosphate Mining industry in Canada. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Mineral & Phosphate Mining industry in Canada.
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Frequently Asked Questions
What is the market size of the Mineral & Phosphate Mining industry in Canada in 2026?
The market size of the Mineral & Phosphate Mining industry in Canada is $12.5bn in 2026.
How many businesses are there in the Mineral & Phosphate Mining industry in Canada in 2025?
There are 145 businesses in the Mineral & Phosphate Mining industry in Canada, which has grown at a CAGR of 9.5 % between 2020 and 2025.
How may import tariffs affect the Mineral & Phosphate Mining industry in Canada?
The Mineral & Phosphate Mining industry in Canada is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Mineral & Phosphate Mining industry in Canada?
The Mineral & Phosphate Mining industry in Canada is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Mineral & Phosphate Mining industry in Canada grown or declined over the past 5 years?
The market size of the Mineral & Phosphate Mining industry in Canada has been growing at a CAGR of 1.1 % between 2020 and 2025.
What is the forecast growth of the Mineral & Phosphate Mining industry in Canada over the next 5 years?
Over the next five years, the Mineral & Phosphate Mining industry in Canada is expected to grow.
What are the biggest companies in the Mineral & Phosphate Mining industry in Canada?
The biggest companies operating in the Mineral & Phosphate Mining industry in Canada are Nutrien, The Mosaic Company and De Beers Group
What does the Mineral & Phosphate Mining industry in Canada include?
Diamond mining and Mining of other minerals, including potassium salt, phosphate rock and gypsum are part of the Mineral & Phosphate Mining industry in Canada.
Which companies have the highest market share in the Mineral & Phosphate Mining industry in Canada?
The company holding the most market share in the Mineral & Phosphate Mining industry in Canada is Nutrien.
How competitive is the Mineral & Phosphate Mining industry in Canada?
The level of competition is moderate and steady in the Mineral & Phosphate Mining industry in Canada.
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