The Business Research Company’s report on the Processed Nonferrous Metal Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the processed nonferrous metal market further?
Rapidly growing urban populations are expected to drive the demand for processed nonferrous metal market in the forecast period. As urban populations grow rapidly, there is an increased need for the construction of new buildings, infrastructure, and transportation systems to accommodate the rising number of residents. Processed nonferrous metals are essential in construction for applications such as wiring, plumbing, roofing, and structural components. For instance, in April 2022, according to the World Economic Forum, a Switzerland-based independent international organization, more than 4.3 billion people, or 55% of the world’s population, lived in urban settings, and the number is expected to rise to 80% by 2050. Therefore, growing urban populations are driving the demand for processed nonferrous metal market.
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What are the key factors influencing the forecasted market size of the processed nonferrous metal industry?
The processed nonferrous metal market size has grown strongly in recent years. It will grow from $1604.74 billion in 2024 to $1692.01 billion in 2025 at a compound annual growth rate (CAGR) of 5.4%. The growth in the historic period can be attributed to automotive industry demand, electronics and electrical appliances, aerospace and aviation sector, construction and infrastructure projects, renewable energy applications.
The processed nonferrous metal market size is expected to see steady growth in the next few years. It will grow to $1961.02 billion in 2029 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to energy storage solutions, urbanization and smart cities, sustainable manufacturing practices, supply chain resilience, advancements in material science. Major trends in the forecast period include rise of 5g technology, technological advances in metal processing, advancements in lightweight alloys, increasing use in electronics, recycling initiatives.
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Who are the leading competitors in the processed nonferrous metal market?
Major companies operating in the processed nonferrous metal market include Alcoa Corporation, Rio Tinto Group, Norsk Hydro ASA, Vedanta Resources Limited, Hindalco Industries Limited, South32 Limited, China Hongqiao Group Limited, United Company RUSAL, Glencore International AG, Aluminum Corporation of China Limited, First Quantum Minerals Ltd., Freeport-McMoRan Inc., BHP Group Limited, Teck Resources Limited, Lundin Mining Corporation, Boliden AB, Sumitomo Metal Mining Co., Ltd., Vale S.A., Anglo American plc, Aurubis AG, Korea Zinc Co., Ltd., Mitsui Mining & Smelting Co., Ltd., Hindustan Zinc Limited, Southern Copper Corporation, MMG Limited, Kaz Minerals, Antofagasta plc, Imperial Metals Corporation, Trafigura Group Pte Ltd.
Which emerging trends are set to transform the processed nonferrous metal market landscape?
Additive manufacturing (AM) is being widely used for manufacturing a wide range of metal products. The transition of additive manufacturing from a product development tool to a production tool has been quick. Increased investment in metal additive manufacturing (AM) technology is further leading to process improvements and lower production costs in allied manufacturing industries. For instance, in March 2023, according to the report published by Nanjixiong, a China-based additive manufacturing (AM) portal, venture capital funds invested $930 million in additive manufacturing (AM) startups in China in 2022, of which $370 million, or 40% of the total went to metal additive manufacturing (AM) businesses.
How do different geographies compare in terms of market share and growth potential in the processed nonferrous metal market?
Asia-Pacific was the largest region in the processed nonferrous metal market in 2024. Western Europe was the second-largest region in the processed nonferrous metal market. The regions covered in the processed nonferrous metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Which major segments of the processed nonferrous metal market are experiencing the fastest growth?
The processed nonferrous metal market covered in this report is segmented –
1) By Type: Smelted and Refined Nonferrous Metal (except Aluminum), Rolled, Extruded and Alloyed Copper, Rolled and Extruded Nonferrous Metal (except Copper and Aluminum), Secondary Smelted, Refined and Alloyed Nonferrous Metal (except Copper and Aluminum)
2) By Process Type: Smelting and Refining, Rolling, Drawing, Extruding, Alloying, Other Process Types
3) By End User Industry: Automotive, Electronic Power, Construction, Other End User Industries
Subsegments:
1) By Smelted And Refined Nonferrous Metal (except Aluminum): Copper, Zinc, Lead, Nickel, Tin
2) By Rolled, Extruded, And Alloyed Copper: Copper Rods, Copper Sheets, Copper Foils, Copper Tubes
3) By Rolled And Extruded Nonferrous Metal (except Copper and Aluminum): Zinc Sheets, Lead Sheets, Nickel Alloys, Tin Products
4) By Secondary Smelted, Refined, And Alloyed Nonferrous Metal (except Copper and Aluminum): Recycled Lead, Recycled Zinc, Recycled Nickel
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What defines the structure and scope of the processed nonferrous metal market?
Processed nonferrous metals refer to types of alloys or metals without a significant proportion of iron that are primarily engaged in smelting ores into nonferrous metals and/or the primary refining of nonferrous metals (except aluminum) by electrolytic methods or other processes and used in manufacturing of light weight and malleable products.
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