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Global Base Metals Market Share, Trends, Forecast: By Metal Type: Iron, Copper, Lead, Aluminium, Zinc, Nickel, Others; By Source: New Production, Recycled; By End-User Industry: Construction, Automotive and Transportation, Consumer Goods, Manufacturing, Energy, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2023-2028
Global Base Metals Market Outlook
The global base metals market size reached a value of approximately USD 828.8 billion in 2022. The market is further expected to grow at a CAGR of 4.50% between 2023 and 2028, reaching a value of USD 1,075.2 billion by 2028.
Key Trends in the Market
Base metals are metals that corrode, tarnish, and oxidise at a fast rate when exposed to moisture or air for long periods of time. These metals are easily available in nature and are relatively inexpensive and they produce hydrogen gas when they react with dilute hydrochloric acid.
- The key trends driving the growth of the market include rising construction activities around the globe due to increasing population. Construction of residential and non-residential buildings such as schools and hospitals have increased so as to meet the demands from a growing population.
- Another crucial trend in the market for base metals is the rapidly growing automobile industry, which is increasing the demand for base metals and aiding the expansion of the global market.
- The aim of reducing greenhouse gas emissions has boosted the utilisation of base metals in the production of renewable energy. This factor is anticipated to further accelerate the expansion of the base metals market over the forecast period.
Market Analysis
On the basis of metal type, the market is divided into iron, copper, lead, aluminium, zinc, and nickel, among others. Based on source, the market is bifurcated into new production and recycled. On the basis of end-user industry, the market is segregated into construction, automotive and transportation, consumer goods, manufacturing, and energy, among others. Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global base metals market, covering their competitive landscape and latest developments like mergers, acquisitions, investments, and expansion plans.
- Vale S.A
- Rio Tinto Ltd
- Fortescue Metal Group
- China Hongqiao Group Ltd
- United Company RUSAL
- Emirates Global Aluminium PJSC
- Alcoa Corporation
- Anglo American plc
- Antofagasta plc
- BHP Group Limited
- Codelco
- Freeport-McMoRan Inc.
- First Quantum Minerals Ltd.
- Glencore plc
- Jiangxi Copper Corporation
- Lundin Mining Corporation
- Others
Market Share by Metal Type
Copper is anticipated to account for a significant share of the base metals market over the forecast period due to its wide range of applications in the construction industry such as development of architectural elements. Furthermore, copper plays a vital role in various renewable energy systems due to its excellent electrical and thermal properties. Various electrical systems use copper for generating energy with high efficiency and low environmental impact.
Market Share by Region
The Asia Pacific region is projected to witness exponential growth in the market for base metals in the upcoming years owing to rapid industrialisation and urbanisation in countries such as India and China. Additionally, the rise in construction activities and growth of industries such as automotive, transportation, and manufacturing are also projected to boost the growth of the base metals market in the region.
Competitive Landscape
Vale S.A is a global mining company that was founded in 1942 and is based in Rio de Janeiro, Brazil. They are known for producing pellets, iron ore, and nickel and are committed towards becoming the safest and most trustworthy mining company across the globe.
Rio Tinto Ltd is a metals and mining corporation that was established in 1873 and is headquartered in London, United Kingdom. They are focused on finding, processing, and mining the earth’s mineral resources and devoted towards providing the materials that the world needs.
Fortescue Metal Group is an iron ore company that was founded in 2003 and is based in Perth, Australia, and is one of the largest producers of iron. They are recognised for their innovation and development of mining assets and world class infrastructure.
Other market players include China Hongqiao Group Ltd, United Company RUSAL, Emirates Global Aluminium PJSC, Alcoa Corporation, Anglo American plc, Antofagasta plc, BHP Group Limited, Codelco, Freeport-McMoRan Inc., First Quantum Minerals Ltd., Glencore plc, Jiangxi Copper Corporation, and Lundin Mining Corporation, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Metal Type |
|
| Breakup by Source |
|
| Breakup by End-User Industry |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Base Metals Market Analysis
8.1 Key Industry Highlights
8.2 Global Base Metals Historical Production (2018-2022)
8.3 Global Base Metals Production Forecast (2023-2028)
8.4 Global Base Metals Historical Consumption (2018-2022)
8.5 Global Base Metals Consumption Forecast (2023-2028)
8.6 Global Base Metals Market by Metal Type
8.6.1 Iron
8.6.1.1 Historical Production (2018-2022)
8.6.1.2 Production Forecast (2023-2028)
8.6.1.3 Historical Consumption (2018-2022)
8.6.1.4 Consumption Forecast (2023-2028)
8.6.2 Copper
8.6.2.1 Historical Production (2018-2022)
8.6.2.2 Production Forecast (2023-2028)
8.6.2.3 Historical Consumption (2018-2022)
8.6.2.4 Consumption Forecast (2023-2028)
8.6.3 Lead
8.6.3.1 Historical Production (2018-2022)
8.6.3.2 Production Forecast (2023-2028)
8.6.3.3 Historical Consumption (2018-2022)
8.6.3.4 Consumption Forecast (2023-2028)
8.6.4 Aluminium
8.6.4.1 Historical Production (2018-2022)
8.6.4.2 Production Forecast (2023-2028)
8.6.4.3 Historical Consumption (2018-2022)
8.6.4.4 Consumption Forecast (2023-2028)
8.6.5 Zinc
8.6.5.1 Historical Production (2018-2022)
8.6.5.2 Production Forecast (2023-2028)
8.6.5.3 Historical Consumption (2018-2022)
8.6.5.4 Consumption Forecast (2023-2028)
8.6.6 Nickel
8.6.6.1 Historical Production (2018-2022)
8.6.6.2 Production Forecast (2023-2028)
8.6.6.3 Historical Consumption (2018-2022)
8.6.6.4 Consumption Forecast (2023-2028)
8.6.7 Others
8.7 Global Base Metals Market by Source
8.7.1 New Production
8.7.1.1 Historical Trend (2018-2022)
8.7.1.2 Forecast Trend (2023-2028)
8.7.2 Recycled
8.7.2.1 Historical Trend (2018-2022)
8.7.2.2 Forecast Trend (2023-2028)
8.8 Global Base Metals Market by End-User Industry
8.8.1 Construction
8.8.1.1 Historical Trend (2018-2022)
8.8.1.2 Forecast Trend (2023-2028)
8.8.2 Automotive and Transportation
8.8.2.1 Historical Trend (2018-2022)
8.8.2.2 Forecast Trend (2023-2028)
8.8.3 Consumer Goods
8.8.3.1 Historical Trend (2018-2022)
8.8.3.2 Forecast Trend (2023-2028)
8.8.4 Manufacturing
8.8.4.1 Historical Trend (2018-2022)
8.8.4.2 Forecast Trend (2023-2028)
8.8.5 Energy
8.8.5.1 Historical Trend (2018-2022)
8.8.5.2 Forecast Trend (2023-2028)
8.8.6 Others
8.9 Global Base Metals Market by Region
8.9.1 North America
8.9.1.1 Historical Trend (2018-2022)
8.9.1.1 Forecast Trend (2023-2028)
8.9.2 Europe
8.9.2.1 Historical Trend (2018-2022)
8.9.2.1 Forecast Trend (2023-2028)
8.9.3 Asia Pacific
8.9.3.1 Historical Trend (2018-2022)
8.9.3.1 Forecast Trend (2023-2028)
8.9.4 Latin America
8.9.4.1 Historical Trend (2018-2022)
8.9.4.1 Forecast Trend (2023-2028)
8.9.5 Middle East and Africa
8.9.5.1 Historical Trend (2018-2022)
8.9.5.1 Forecast Trend (2023-2028)
9 North America Base Metals Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 Canada
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
10 Europe Base Metals Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Germany
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
10.3 France
10.3.1 Historical Trend (2018-2022)
10.3.2 Forecast Trend (2023-2028)
10.4 Italy
10.4.1 Historical Trend (2018-2022)
10.4.2 Forecast Trend (2023-2028)
10.5 Others
11 Asia Pacific Base Metals Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.2 Japan
11.2.1 Historical Trend (2018-2022)
11.2.2 Forecast Trend (2023-2028)
11.3 India
11.3.1 Historical Trend (2018-2022)
11.3.2 Forecast Trend (2023-2028)
11.4 ASEAN
11.4.1 Historical Trend (2018-2022)
11.4.2 Forecast Trend (2023-2028)
11.5 Australia
11.5.1 Historical Trend (2018-2022)
11.5.2 Forecast Trend (2023-2028)
11.6 Others
12 Latin America Base Metals Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Argentina
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
12.3 Mexico
12.3.1 Historical Trend (2018-2022)
12.3.2 Forecast Trend (2023-2028)
12.4 Others
13 Middle East and Africa Base Metals Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Nigeria
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 South Africa
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Price Analysis
15.1 Iron Historical Price Trends (2018-2022)and Forecast (2023-2028)
15.2 Copper Historical Price Trends (2018-2022)and Forecast (2023-2028)
15.3 Lead Historical Price Trends (2018-2022)and Forecast (2023-2028)
15.4 Aluminum Historical Price Trends (2018-2022)and Forecast (2023-2028)
15.5 Zinc Historical Price Trends (2018-2022)and Forecast (2023-2028)
15.6 Nickel Historical Price Trends (2018-2022)and Forecast (2023-2028)
16 Competitive Landscape
16.1 Market Structure
16.2 Company Profiles
16.2.1 Vale S.A
16.2.1.1 Company Overview
16.2.1.2 Product Portfolio
16.2.1.3 Demographic Reach and Achievements
16.2.1.4 Certifications
16.2.2 Rio Tinto Ltd
16.2.2.1 Company Overview
16.2.2.2 Product Portfolio
16.2.2.3 Demographic Reach and Achievements
16.2.2.4 Certifications
16.2.3 Fortescue Metal Group
16.2.3.1 Company Overview
16.2.3.2 Product Portfolio
16.2.3.3 Demographic Reach and Achievements
16.2.3.4 Certifications
16.2.4 China Hongqiao Group Ltd
16.2.4.1 Company Overview
16.2.4.2 Product Portfolio
16.2.4.3 Demographic Reach and Achievements
16.2.4.4 Certifications
16.2.5 United Company RUSAL
16.2.5.1 Company Overview
16.2.5.2 Product Portfolio
16.2.5.3 Demographic Reach and Achievements
16.2.5.4 Certifications
16.2.6 Emirates Global Aluminium PJSC
16.2.6.1 Company Overview
16.2.6.2 Product Portfolio
16.2.6.3 Demographic Reach and Achievements
16.2.6.4 Certifications
16.2.7 Alcoa Corporation
16.2.7.1 Company Overview
16.2.7.2 Product Portfolio
16.2.7.3 Demographic Reach and Achievements
16.2.7.4 Certifications
16.2.8 Anglo American plc
16.2.8.1 Company Overview
16.2.8.2 Product Portfolio
16.2.8.3 Demographic Reach and Achievements
16.2.8.4 Certifications
16.2.9 Antofagasta plc
16.2.9.1 Company Overview
16.2.9.2 Product Portfolio
16.2.9.3 Demographic Reach and Achievements
16.2.9.4 Certifications
16.2.10 BHP Group Limited
16.2.10.1 Company Overview
16.2.10.2 Product Portfolio
16.2.10.3 Demographic Reach and Achievements
16.2.10.4 Certifications
16.2.11 Codelco
16.2.11.1 Company Overview
16.2.11.2 Product Portfolio
16.2.11.3 Demographic Reach and Achievements
16.2.11.4 Certifications
16.2.12 Freeport-McMoRan Inc.
16.2.12.1 Company Overview
16.2.12.2 Product Portfolio
16.2.12.3 Demographic Reach and Achievements
16.2.12.4 Certifications
16.2.13 First Quantum Minerals Ltd.
16.2.13.1 Company Overview
16.2.13.2 Product Portfolio
16.2.13.3 Demographic Reach and Achievements
16.2.13.4 Certifications
16.2.14 Glencore plc
16.2.14.1 Company Overview
16.2.14.2 Product Portfolio
16.2.14.3 Demographic Reach and Achievements
16.2.14.4 Certifications
16.2.15 Jiangxi Copper Corporation
16.2.15.1 Company Overview
16.2.15.2 Product Portfolio
16.2.15.3 Demographic Reach and Achievements
16.2.15.4 Certifications
16.2.16 Lundin Mining Corporation
16.2.16.1 Company Overview
16.2.16.2 Product Portfolio
16.2.16.3 Demographic Reach and Achievements
16.2.16.4 Certifications
16.2.17 Others
17 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Base Metals Market: Key Industry Highlights, 2018 and 2028
2. Global Base Metals Historical Market: Breakup by Metal Type (USD Million), 2018-2022
3. Global Base Metals Market Forecast: Breakup by Metal Type (USD Million), 2023-2028
4. Global Base Metals Historical Market: Breakup by Source (USD Million), 2018-2022
5. Global Base Metals Market Forecast: Breakup by Source (USD Million), 2023-2028
6. Global Base Metals Historical Market: Breakup by End User (USD Million), 2018-2022
7. Global Base Metals Market Forecast: Breakup by End User (USD Million), 2023-2028
8. Global Base Metals Historical Market: Breakup by Region (USD Million), 2018-2022
9. Global Base Metals Market Forecast: Breakup by Region (USD Million), 2023-2028
10. North America Base Metals Historical Market: Breakup by Country (USD Million), 2018-2022
11. North America Base Metals Market Forecast: Breakup by Country (USD Million), 2023-2028
12. Europe Base Metals Historical Market: Breakup by Country (USD Million), 2018-2022
13. Europe Base Metals Market Forecast: Breakup by Country (USD Million), 2023-2028
14. Asia Pacific Base Metals Historical Market: Breakup by Country (USD Million), 2018-2022
15. Asia Pacific Base Metals Market Forecast: Breakup by Country (USD Million), 2023-2028
16. Latin America Base Metals Historical Market: Breakup by Country (USD Million), 2018-2022
17. Latin America Base Metals Market Forecast: Breakup by Country (USD Million), 2023-2028
18. Middle East and Africa Base Metals Historical Market: Breakup by Country (USD Million), 2018-2022
19. Middle East and Africa Base Metals Market Forecast: Breakup by Country (USD Million), 2023-2028
20. Global Base Metals Market Structure
Key Questions Answered in the Report
The market reached a value of approximately USD 828.8 billion in 2022.
The market is expected to grow at a CAGR of 4.50% between 2023 and 2028.
The market is estimated to witness a healthy growth in the forecast period of 2023-2028 to reach USD 1,075.2 billion by 2028.
Rapid industrialisation and urbanisation, growing utilisation of base metals by various industries, and technological advancements and innovations are driving the growth of the market.
The key trends fuelling the growth of the market include rising construction activities, growth of the automobile industry, and rising environmental consciousness.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various metal types in the market for base metals include iron, copper, lead, aluminium, zinc, and nickel, among others.
The key players in the global base metals market are Vale S.A, Rio Tinto Ltd, Fortescue Metal Group, China Hongqiao Group Ltd, United Company RUSAL, Emirates Global Aluminium PJSC, Alcoa Corporation, Anglo American plc, Antofagasta plc, BHP Group Limited, Codelco, Freeport-McMoRan Inc., First Quantum Minerals Ltd., Glencore plc, Jiangxi Copper Corporation, and Lundin Mining Corporation, among others.
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