Global Non-Magnetic Metals and Alloys Market is Expected to Grow at a CAGR of 5% During 2024-2032, Aided by the Increasing Downstream Demand

The global market of non-magnetic metals and alloys is being significantly aided by the rising demand for metals and alloys from several industries. The construction industry is amongst the major contributors to the non-magnetic metals and alloys industry growth due to the growing requirement to build infrastructures. The increasing usage of non-magnetic metals and alloys in the aviation industry and other transportation and structural materials is further aiding the market demand. However, the increasing cases of coronavirus pandemic did hinder the market in the year 2020, but with increasing implementation of vaccines, the market is expected to recover and grow further.

Companies like Nucor (NYSE: NUE) have also facilitated in maintaining the demand across the globe for products made with non-magnetic metals and alloys. On the basis of geography, North America is the one of the major regions driving the market demand, specifically due to the demand generated from regions like the United States, owing to the presence of numerous health-conscious consumers in the regions. Also, the Asia Pacific and European regions are expected to drive the demand further due to the increasing urbanisation and health-conscious consumers.

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Market Breakup by Product Type, Applications, and Region:

• In terms of product type, the market is divided into non-ferrous metals (aluminium, lead, tin, zinc, copper, nickel, titanium, and others), precious metals (gold, silver, platinum, and others), and exotic or rare metals (cobalt, mercury, tungsten, beryllium, bismuth, and others).

• By applications, the market is segmented into aerospace, industrial gas and turbine, automotive, electrical and electronics, chemical, and others.

• Region-wise, the global market for non-magnetic metals and alloys can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The market is aided by the increasing demand for metals and alloys from several industries across the world.

• The rapid modernisation among several consumers across the world in reference to increasing urbanisation and industrialisation is also aiding the market.

• The rising aviation industry and the growing demand from other transportation and structural materials sectors are further increasing the demand for non-magnetic metals and alloys.

• The growing construction industry across the world is further aiding the market growth for non-magnetic metals and alloys.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for non-magnetic metals and alloys for the periods (2018-2023) and (2024-2032). 

• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the product types, applications, and regional markets of non-magnetic metals and alloys.

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global non-magnetic metals and alloys market include Belmont Metals Inc., Saru Smelting Pvt. Inc., Nippon Yakin Kogyo Co. Ltd., Australian Metals Pty. Ltd., Lee Kee Group Limited, and Gravita India Limited, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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