The metal market encompasses the production, processing and distribution of a wide range of metallic elements and alloys, which are integral to various industries. Metals are fundamental materials used in construction, manufacturing, electronics, transportation and numerous other applications. They are valued for their diverse properties, such as strength, conductivity, malleability and resistance to corrosion, making them essential in both industrial and consumer products.
The metal market consists of sales, by entities (organizations, sole traders or partnerships), of metals that refer to a class of solid materials that are characterized by high electrical and thermal conductivity, as well as malleability and ductility. Metals are elements that can lose electrons easily to form positive ions, which leads to their ability to conduct electricity and heat. They are generally found in the form of ores and are extracted through mining and refining processes.
The global metal market was valued at $3,516.16 billion in 2018 which grew till 2023 at a compound annual growth rate (CAGR) of more than 3.00%.
Growth Of The Automotive Industry
The growth of the automotive industry drove the growth of the metal market during the historic period. The automotive industry stands as a significant consumer of metals including steel, aluminum, copper and various alloys. As vehicle production escalates, the demand for these metals correspondingly increases. This heightened demand propels growth within the metal market, as manufacturers are compelled to supply the essential raw materials for automotive production. For instance, according to the European Automobile Manufacturers Association (ACEA), a Belgium-based lobbying and standards group of the automobile industry in the European Union, the first three quarters of 2023 saw over nine million cars produced in the European Union (EU), a 14% increase over the same time in 2022. Additionally, in October 2023, according to the report published by the Society of Indian Automobile Manufacturers (SIAM), an India-based national body representing major vehicle and vehicular engine manufacturers, a total of 2,621,248 units of passenger cars, three-wheelers, two-wheelers and quadratics were produced by the Indian auto industry. Automobiles sold 3,89,714 units, while the sales of three-wheelers and two-wheelers amounted to 76,940 and 189,579 units, respectively. These data show an impressive increase in sales annually. Therefore, increasing automotive production supported the growth of the metal market.
Innovations In Blast Furnace Technology For Enhanced Production Capacities
Companies in the metal market are innovating blast furnace technology to enhance production capacities. A blast furnace refers to a type of metallurgical furnace used for smelting to produce industrial metals, generally pig iron, but also others such as lead or copper. For example, in September 2023, Ulanhot Steel, a China-based steel manufacturer, launched a new blast furnace, at a manufacturing plant in Northern China. This device has a unique feature in that it can produce 1.13 million tons of iron annually with a capacity of 1.2 thousand cubic meters. A unit for using gases in the production of pig iron was added to the plant along with the new blast furnace.
The global metal market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 3.78% of the total market in 2023.
Metal Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global metal market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for metal? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The metal market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider metal market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by metal type and by end-user.
- Product Analysis The product analysis section of the report describes the leading products in the metal market, along with key features and differentiators for those products.
- Supply Chain The supply chain section of the report defines and explains the key players in the metal industry supply chain.
- Customer Information The chapter covers recent customer trends/preferences in the global metal market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the metal market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by metal type and by end-user in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for metal providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Type: Iron And Steel Mills And Ferroalloys; Processed Nonferrous Metals; Processed Alumina And Aluminum; Foundries; Steel Products
- 2) By Metal Type: Iron Ore; Gold; Copper; Aluminum; Nickel; Other Metal Types
- 3) By End User: Construction; Manufacturing; Other End Users
- Companies Mentioned: China Baowu Group; ArcelorMittal S.A.; Ansteel Group; Nippon Steel & Sumitomo Metal Corporation (NSSMC); Pohang Iron and Steel Company (POSCO)
- Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; metal indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.