Overview and Scope
Metal and mineral refer to solid, naturally occurring inorganic materials that make up the crust of the earth and are smelted from ore, pigs, or scrap using electrometallurgical techniques and inorganic, solid, naturally occurring compounds with properties such as tenacity, cleavage, fracture, specific gravity, luster, color, and hardness.
Sizing and Forecast
The metal and mineral market size has grown strongly in recent years. It will grow from $7917.21 billion in 2023 to $8377.15 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to growth in industrialization and urbanization, global economic trends, trade and export policies, infrastructure projects, environmental regulations.
The metal and mineral market size is expected to see strong growth in the next few years. It will grow to $10197.23 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to circular economy practices, electric vehicle (ev) revolution, supply chain resilience, geopolitical factors, evolving consumer preferences. Major trends in the forecast period include green technologies, technological innovation in processing, technological advancements in mining, increased focus on recycling, digitalization and automation in mining.
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Segmentation & Regional Insights
The metal and mineral market covered in this report is segmented –
1) By Type: Mineral, Metal, Metal Products
2) By Application: Chemicals Manufacturing, Metallurgy, Electrical Grid Infrastructure, Electronics, Glass Products, Vehicles, Other Applications
3) By End User: Construction, Manufacturing, Other End Users
Subsegments Covered: Cement and Concrete Products, Glass and Glass Products, Other Non-Metallic Mineral Products, Clay Products and Refractories, Lime and Gypsum Products, Iron and Steel Mills and Ferroalloy, Processed Nonferrous Metal, Processed Alumina and Aluminum, Foundries, Steel Products, Forged and Stamped Goods, Cutlery and Hand Tools, Architectural and Structural Metals, Boiler, Tank, and Shipping Container, Hardware, Spring and Wire Products, Machine Shops, Turned Product and Screw, Nut, and Bolt, Coated, Engraved, and Heat Treated Metal Products, Metal Valves, Other Fabricated Metal Products,
The Asia-Pacific was the largest region in the metal and mineral market in 2023. Western Europe was the second-largest region in the metal and mineral market. The regions covered in the metal and mineral market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) are expected to drive innovation in metal and mineral manufacturing, thus driving the market during the forecast period. Furthermore, technologies such as 3D printing, artificial intelligence and big data analytics are being used during the manufacturing process, resulting in higher productivity, lower operating costs and higher margins. For instance, according to a report by Accenture, the manufacturing sector will witness the highest annual gross value added (GVA) growth rate of 4.4% due to artificial intelligence by 2035. The report also states that artificial intelligence has the potential to increase profitability by an average of 38% by 2035. Lower operating costs lead to higher margins, this allows companies to expand production and increase product portfolio, thus driving the metal and mineral manufacturing market going forward.
Key Industry Players
Major companies operating in the metal and mineral market report are Glencore plc, ArcelorMittal S.A., Pohang Iron and Steel Company, BHP Group, Nippon Steel & Sumitomo Metal Corporation, Baoshan Iron & Steel Company Limited, Rio Tinto, China Shenhua Energy Co. Ltd., Vale S.A., China National Building Material Group Co. Ltd, Hindalco Industries Limited, Freeport-McMoRan Inc., Norsk Hydro ASA, Vedanta Limited, Teck Resources Limited, Newmont Corporation, Barrick Gold Corporation, Alcoa Corporation, Southern Copper Corporation, Anglo American Platinum Limited, Sibanye Stillwater Limited, First Quantum Minerals, Agnico Eagle Mines Limited, Gold Fields Limited, Kinross Gold Corporation, Yamana Gold Inc., Wheaton Precious Metals Corp., Pan American Silver Corp., First Majestic Silver Corp., PJSC ALROSA, Polymetal International plc, Turquoise Hill Resources Ltd., Lundin Mining Corporation, OZ Minerals Limited, Hochschild Mining plc, SSR Mining Inc., Fortescue Metals Group Limited, Kaz Minerals PLC, Mineral Resources Limited, Iamgold Corporation, Centamin plc, Sierra Metals Inc., Osisko Gold Royalties Ltd., Sandstorm Gold Ltd.
The metal and mineral market report table of contents includes:
1. Executive Summary
2. Metal And Mineral Market Characteristics
3. Metal And Mineral Product/Service Analysis -Product/Service Examples
4. Metal And Mineral Market Trends And Strategies
5. Metal And Mineral Market – Macro Economic Scenario
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68. Global Metal And Mineral Market Competitive Benchmarking
69. Global Metal And Mineral Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Metal And Mineral Market
71. Metal And Mineral Market Future Outlook and Potential Analysis
72. Appendix
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