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Base Metals Market

Global Base Metals Market Share, Trends, Forecast: By Type: Copper, Silver, Zinc, Lead, Nickel, Aluminium, Tin, Others; Regional Analysis; Trade Data Analysis; Price Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032

Global Base Metals Market Size

The global base metals market reached a value of approximately USD 866.10 billion in 2023. The market is expected to grow at a CAGR of 4.5% between 2024 and 2032, reaching a value of USD 1,282.20 billion by 2032.

 

Base Metals Market Outlook

  • In 2022, Hindustan Copper Limited planned to increase its copper mining capacity from the current 4.0 million tonnes per annum to 12.2 million tonnes in Phase-I and then to 20.2 million tonnes in Phase-II.
  • The per capita consumption of copper in India was 0.5 kg in 2020-21. Copper is used in several sectors such as transport, power, and construction.
  • As per industry reports, copper imports have remained consistently high, forming 60% of the total domestic consumption in India in 2020-21.
  • Mexico was the top silver-producing country in 2021, producing 5,600 metric tons, followed by China with 3,400 metric tons.

 

Global Base Metals Market

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Base Metals Market Growth

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.

 

Key drivers aiding the global base metals market development include technological advancements in extraction and deep mining to meet rising demand, particularly driven by sectors like electric vehicles, solar and wind power generation, and infrastructure development. The increasing demand for renewable energy and the proliferation of electric vehicles are significant factors propelling market growth.

 

Moreover, the expansion of mining operations, growth in recycling efforts, and the surge in petrochemical demand from industries like construction are contributing to the market's positive trajectory. Additionally, the market is benefiting from the strong presence of the electrical & electronics industry, along with robust manufacturing capabilities, especially in regions like North America, which is expected to drive further growth in the base metals sector.

 

Key Trends and Developments

Technological advancements in mining techniques, rising demand from the renewable energy and electric vehicles, and increasing construction activities are boosting the base metals market growth

 

April 2024

Vale announced the completion of a strategic partnership agreement with Manara Minerals. This partnership signifies a significant step towards enhancing Vale's position in the industry and expanding their reach in mineral resources.

 

February 2024

Anglo American secured a multi-billion tonne high-quality iron ore resource at Minas-Rio, emphasising sustainable mining practices. The company further aims to improve people's lives by re-imagining mining and connecting essential metals to various industries.

 

June 2023

Fortescue entered an MoU with China Baowu Steel Group, the world's largest steel. The collaboration explored lower emissions iron making technology using Fortescue iron ore and green hydrogen, as well as opportunities in renewable energy.

 

November 2022

Vale and GM signed a long-term agreement for Vale to supply battery grade nickel sulphate from its proposed Quebec, Canada facility to support GM's growing EV production needs in North America. The agreement secures a supply of nickel sulphate equivalent to 25,000 metric tons per year.

 

Rising construction activities

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 to meet the demands from a growing population.

 

Growing automobile industry

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.

 

Use of metals in renewable energy

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 base metals market expansion over the forecast period.

 

Expansion of mining operations

Companies are focusing on expanding their mining operations to meet the growing demand for base metals. Additionally, there is a greater emphasis on recycling base metals to reduce the environmental impact of mining activities. The surge in recycling efforts helps to supplement the supply of base metals.

 

Base Metals Market Trends

The growing adoption of solar and wind power generation, along with the proliferation of electric vehicles, is fuelling the need for base metals like copper, aluminium, and nickel. These metals are essential components in renewable energy infrastructure and electric vehicle manufacturing. As the world transitions towards a more sustainable future, the demand for base metals in these sectors is expected to continue increasing, positively impacting the overall base metals market outlook.

 

The market is also being influenced by technological advancements in extraction and deep mining techniques. Companies are investing in innovative solutions to meet the rising demand for base metals, particularly from sectors like construction, automotive, and electronics. The introduction of handheld X-ray fluorescence (XRF) devices for analysing metals is one such example, which helps enhance efficiency and accuracy in metal analysis. Moreover, the development of advanced deep mining technologies enables the extraction of base metals from previously inaccessible or uneconomical deposits, further driving market growth.

 

Global Base Metals Market

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Base Metals Industry Segmentation

The EMR’s report titled “Base Metals Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:

 

Market Breakup by Type

  • Copper
  • Silver
  • Zinc
  • Lead
  • Nickel
  • Aluminium
  • Tin
  • Others

 

Market Breakup by Region

  • North America
  • Europe 
  • Asia Pacific 
  • Latin America 
  • Middle East and Africa

 

Base Metals Market Share

Copper segment is witnessing growth due to its rising applications in diverse sectors

Copper is anticipated to account for a significant share of the 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.

 

Silver is primarily used in jewelry, silverware, and coins, and zinc is used for galvanising steel to prevent corrosion, in die-casting, and in rubber, ceramics, paints, and agriculture. China is the world's largest producer and consumer of zinc due to its industrial capacity and consumer demand. As per base metals market analysis, lead is primarily used in lead-acid batteries for vehicles and home consumption, and the demand for lead-based batteries is increasing due to the increasing sales of automobiles.

 

Nickel is used in stainless steel production, enhancing strength and corrosion resistance. It is also used in electric vehicle batteries and found in various products like food preparation equipment, mobile phones, and coins. Aluminum is used in power cables, construction, transportation, and packaging. China is the world's largest producer, and India is the second-largest producer of aluminum.

 

Leading Companies in the Base Metals Market

Market players are focused on developing innovative solutions such as handheld X-ray fluorescence (XRF) devices for analysing metals, which aids in enhancing efficiency and accuracy in metal analysis

 

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.

 

Glencore Plc (merged with the mining company Xstrata), founded in 1974 and headquartered in Zug, Switzerland, is a diversified natural resources company that produces and markets copper, cobalt, nickel, zinc, lead, ferroalloys, thermal coal, crude oil, and agricultural products.

 

Other key players in the global base metals market 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., Jiangxi Copper Corporation, and Lundin Mining Corporation, among others.

 

Global Base Metals Market

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Base Metals Market Analysis by Region

Asia Pacific leads the market due to the increasing investments in electrical & electronics, automotive, and construction industries

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 market in the region.

 

The North American base metals market share is growing as the construction industry in the region is a major consumer of base metals, particularly copper and aluminum, which are used in building materials and electrical wiring. The automotive industry in North America is also a significant consumer of base metals and the increasing demand for lightweight vehicles to comply with emission regulations is driving the growth of the aluminum and copper base metals. The rise in electric vehicle (EV) adoption in the region is expected to further boost the demand for base metals.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Region
Breakup Type
  • Copper
  • Silver
  • Zinc
  • Lead
  • Nickel
  • Aluminium
  • Tin
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • 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 (merged with the mining company Xstrata)
  • Jiangxi Copper Corporation
  • Lundin Mining Corporation
  • Others

 

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Base Metals Market Report Snapshots

Base Metals Market Size

Base Metals Market Growth

Base Metals Market Trends

Base Metals Market Share

Base Metals Companies

Base Metals Market Regional Analysis

 

*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.

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    Mining Regulations
9    Integrated Mine Planning

10    Global Base Metals Market Overview
    10.1    Key Industry Highlights
    10.2    Global Base Metals Historical Market (2018-2023) 
    10.3    Global Base Metals Market Forecast (2024-2032)
    10.4    Global Base Metals Market Share by Type
        10.4.1    Copper
        10.4.2    Silver
        10.4.3    Zinc
        10.4.4    Lead
        10.4.5    Nickel
        10.4.6    Aluminium
        10.4.7    Tin
        10.4.8    Others
11    Global Copper Market Analysis
    11.1    Global Copper Historical Production (2018-2023)
    11.2    Global Copper Production Forecast (2024-2032)
    11.3    Global Copper Historical Consumption (2018-2023)
    11.4    Global Copper Consumption Forecast (2024-2032)
    11.5    Global Copper Market by Source
        11.5.1    New Production
        11.5.2    Recycled
    11.6    Global Copper Market by Grade
        11.6.1    Oxygen-free Coppers
        11.6.2    Electrolytic Tough Pitch (ETP) 
        11.6.3    Free-Machining Copper
    11.7    Global Copper Market Breakup by End Use
        11.7.1    Building and Construction
        11.7.2    Electrical and Electronics
        11.7.3    Automotive and Heavy Equipment
        11.7.4    Consumer and General Products
        11.7.5    Industrial and Machinery Equipment
    11.8    Global Copper Market by Region
        11.8.1    North America
        11.8.2    Europe
        11.8.3    Asia Pacific
        11.8.4    Latin America
        11.8.5    Middle East and Africa
12    Global Silver Market Analysis
    12.1    Global Silver Historical Production (2018-2023)
    12.2    Global Silver Production Forecast (2024-2032)
    12.3    Global Silver Historical Consumption (2018-2023)
    12.4    Global Silver Consumption Forecast (2024-2032)
    12.5    Global Silver Market by Source
        12.5.1    New Production
        12.5.2    Recycled
    12.6    Global Silver Market Breakup by End Use
        12.6.1    Photography
        12.6.2    Silverware
        12.6.3    Investment
        12.6.4    Coins and Medals
        12.6.5    Electrical and Electronics
        12.6.6    Jewellery
        12.6.7    Others
    12.7    Global Silver Market by Region
        12.7.1    North America
        12.7.2    Europe
        12.7.3    Asia Pacific
        12.7.4    Latin America
        12.7.5    Middle East and Africa
13    Global Zinc Market Analysis
    13.1    Global Zinc Historical Production (2018-2023)
    13.2    Global Zinc Production Forecast (2024-2032)
    13.3    Global Zinc Historical Consumption (2018-2023)
    13.4    Global Zinc Consumption Forecast (2024-2032)
    13.5    Global Zinc Market by Source
        13.5.1    New Production
        13.5.2    Recycled
    13.6    Global Zinc Market Breakup by End Use
        13.6.1    Rolled Zinc
        13.6.2    Chemicals
        13.6.3    Diecasting
        13.6.4    Brass and Bronze Alloy
        13.6.5    Galvanized Steel
    13.7    Global Zinc Market by Region
        13.7.1    North America
        13.7.2    Europe
        13.7.3    Asia Pacific
        13.7.4    Latin America
        13.7.5    Middle East and Africa
14    Global Lead Market Analysis
    14.1    Global Lead Historical Production (2018-2023)
    14.2    Global Lead Production Forecast (2024-2032)
    14.3    Global Lead Historical Consumption (2018-2023)
    14.4    Global Lead Consumption Forecast (2024-2032)
    14.5    Global Lead Market by Source
        14.5.1    New Production
        14.5.2    Recycled
    14.6    Global Lead Market Breakup by End Use
        14.6.1    Lead Acid Batteries
        14.6.2    Rolled and Extruded Products
        14.6.3    Lead Compounds including Lead Oxides and Lead Salts
        14.6.4    Shot and Ammunition
        14.6.5    Miscellaneous Sectors including Alloys and Solder
    14.7    Global Lead Market by Region
        14.7.1    North America
        14.7.2    Europe
        14.7.3    Asia Pacific
        14.7.4    Latin America
        14.7.5    Middle East and Africa
15    Global Nickel Market Analysis
    15.1    Global Nickel Historical Production (2018-2023)
    15.2    Global Nickel Production Forecast (2024-2032)
    15.3    Global Nickel Historical Consumption (2018-2023)
    15.4    Global Nickel Consumption Forecast (2024-2032)
    15.5    Global Nickel Market by Source
        15.5.1    New Production
        15.5.2    Recycled
    15.6    Global Nickel Market Breakup by End Use
        15.6.1    NF Alloys
        15.6.2    Battery
        15.6.3    Alloy Steel
        15.6.4    Stainless
        15.6.5    Plating
        15.6.6    Foundry
    15.7    Global Nickel Market by Region
        15.7.1    North America
        15.7.2    Europe
        15.7.3    Asia Pacific
        15.7.4    Latin America
        15.7.5    Middle East and Africa
16    Global Aluminium Market Analysis
    16.1    Global Aluminium Historical Production (2018-2023)
    16.2    Global Aluminium Production Forecast (2024-2032)
    16.3    Global Aluminium Historical Consumption (2018-2023)
    16.4    Global Aluminium Consumption Forecast (2024-2032)
    16.5    Global Aluminium Market by Source
        16.5.1    New Production
        16.5.2    Recycled
    16.6    Global Aluminium Market Breakup by End Use
        16.6.1    Construction
        16.6.2    Consumer Durables
        16.6.3    Transportation
        16.6.4    Electrical
        16.6.5    Machinery and Equipment
        16.6.6    Foil Stock
        16.6.7    Packaging
    16.7    Global Aluminium Market by Region
        16.7.1    North America
        16.7.2    Europe
        16.7.3    Asia Pacific
        16.7.4    Latin America
        16.7.5    Middle East and Africa
17    Global Tin Market Analysis
    17.1    Global Tin Historical Production (2018-2023)
    17.2    Global Tin Production Forecast (2024-2032)
    17.3    Global Tin Historical Consumption (2018-2023)
    17.4    Global Tin Consumption Forecast (2024-2032)
    17.5    Global Tin Market by Source
        17.5.1    New Production
        17.5.2    Recycled
    17.6    Global Tin Market Breakup by End Use
        17.6.1    Battery
        17.6.2    Tin Plates
        17.6.3    Chemicals
        17.6.4    Tin Copper
        17.6.5    Solders
    17.7    Global Tin Market by Region
        17.7.1    North America
        17.7.2    Europe
        17.7.3    Asia Pacific
        17.7.4    Latin America
        17.7.5    Middle East and Africa
18    Trade Data Analysis (HS Code – 7403, 7106, 7901, 7801, 7502)
    18.1    Major Exporting Countries 
        18.1.1    By Value
        18.1.2    By Volume
    18.2    Major Importing Countries 
        18.2.1    By Value
        18.2.2    By Volume
19    Price Analysis
    19.1    Copper Historical Price Trends (2018-2023) and Forecast (2024-2032)
    19.2    Nickel Historical Price Trends (2018-2023) and Forecast (2024-2032)
    19.3    Lead Historical Price Trends (2018-2023) and Forecast (2024-2032)
    19.4    Zinc Historical Price Trends (2018-2023) and Forecast (2024-2032)
    19.5    TIn Historical Price Trends (2018-2023) and Forecast (2024-2032)
    19.6    Aluminium Historical Price Trends (2018-2023) and Forecast (2024-2032)
    19.7    Silver Historical Price Trends (2018-2023) and Forecast (2024-2032)
20    Competitive Landscape
    20.1    Market Structure
    20.2    Company Profiles
        20.2.1    Vale S.A
            20.2.1.1    Company Overview
            20.2.1.2    Product Portfolio
            20.2.1.3    Demographic Reach and Achievements
            20.2.1.4    Certifications
        20.2.2    Rio Tinto Ltd
            20.2.2.1    Company Overview
            20.2.2.2    Product Portfolio
            20.2.2.3    Demographic Reach and Achievements
            20.2.2.4    Certifications
        20.2.3    Fortescue Metal Group
            20.2.3.1    Company Overview
            20.2.3.2    Product Portfolio
            20.2.3.3    Demographic Reach and Achievements
            20.2.3.4    Certifications
        20.2.4    China Hongqiao Group Ltd
            20.2.4.1    Company Overview
            20.2.4.2    Product Portfolio
            20.2.4.3    Demographic Reach and Achievements
            20.2.4.4    Certifications
        20.2.5    United Company RUSAL
            20.2.5.1    Company Overview
            20.2.5.2    Product Portfolio
            20.2.5.3    Demographic Reach and Achievements
            20.2.5.4    Certifications
        20.2.6    Emirates Global Aluminium PJSC
            20.2.6.1    Company Overview
            20.2.6.2    Product Portfolio
            20.2.6.3    Demographic Reach and Achievements
            20.2.6.4    Certifications
        20.2.7    Alcoa Corporation
            20.2.7.1    Company Overview
            20.2.7.2    Product Portfolio
            20.2.7.3    Demographic Reach and Achievements
            20.2.7.4    Certifications
        20.2.8    Anglo American plc
            20.2.8.1    Company Overview
            20.2.8.2    Product Portfolio
            20.2.8.3    Demographic Reach and Achievements
            20.2.8.4    Certifications
        20.2.9    Antofagasta plc
            20.2.9.1    Company Overview
            20.2.9.2    Product Portfolio
            20.2.9.3    Demographic Reach and Achievements
            20.2.9.4    Certifications
        20.2.10    BHP Group Limited
            20.2.10.1    Company Overview
            20.2.10.2    Product Portfolio
            20.2.10.3    Demographic Reach and Achievements
            20.2.10.4    Certifications
        20.2.11    Codelco
            20.2.11.1    Company Overview
            20.2.11.2    Product Portfolio
            20.2.11.3    Demographic Reach and Achievements
            20.2.11.4    Certifications
        20.2.12    Freeport-McMoRan Inc.
            20.2.12.1    Company Overview
            20.2.12.2    Product Portfolio
            20.2.12.3    Demographic Reach and Achievements
            20.2.12.4    Certifications
        20.2.13    First Quantum Minerals Ltd.
            20.2.13.1    Company Overview
            20.2.13.2    Product Portfolio
            20.2.13.3    Demographic Reach and Achievements
            20.2.13.4    Certifications
        20.2.14    Glencore plc
            20.2.14.1    Company Overview
            20.2.14.2    Product Portfolio
            20.2.14.3    Demographic Reach and Achievements
            20.2.14.4    Certifications
        20.2.15    Jiangxi Copper Corporation
            20.2.15.1    Company Overview
            20.2.15.2    Product Portfolio
            20.2.15.3    Demographic Reach and Achievements
            20.2.15.4    Certifications
        20.2.16    Lundin Mining Corporation
            20.2.16.1    Company Overview
            20.2.16.2    Product Portfolio
            20.2.16.3    Demographic Reach and Achievements
            20.2.16.4    Certifications
        20.2.17    Others
21    Key Trends and Developments in the Market

 

List of Key Figures and Tables

 

1.    Global Base Metals Market: Key Industry Highlights, 2018 and 2032 
2.    Global Copper Market: Key Industry Highlights, 2018 and 2032 
3.    Global Copper Historical Market: Breakup by Source (USD Million), 2018-2023 
4.    Global Copper Market Forecast: Breakup by Source (USD Million), 2024-2032
5.    Global Copper Historical Market: Breakup by End Use (USD Million), 2018-2023 
6.    Global Copper Market Forecast: Breakup by End Use (USD Million), 2024-2032
7.    Global Copper Historical Market: Breakup by Region (USD Million), 2018-2023 
8.    Global Copper Market Forecast: Breakup by Region (USD Million), 2024-2032
9.    Global Silver Market: Key Industry Highlights, 2018 and 2032 
10.    Global Silver Historical Market: Breakup by Source (USD Million), 2018-2023 
11.    Global Silver Market Forecast: Breakup by Source (USD Million), 2024-2032
12.    Global Silver Historical Market: Breakup by End Use (USD Million), 2018-2023 
13.    Global Silver Market Forecast: Breakup by End Use (USD Million), 2024-2032
14.    Global Silver Historical Market: Breakup by Region (USD Million), 2018-2023 
15.    Global Silver Market Forecast: Breakup by Region (USD Million), 2024-2032
16.    Global Zinc Market: Key Industry Highlights, 2018 and 2032 
17.    Global Zinc Historical Market: Breakup by Source (USD Million), 2018-2023 
18.    Global Zinc Market Forecast: Breakup by Source (USD Million), 2024-2032
19.    Global Zinc Historical Market: Breakup by End Use (USD Million), 2018-2023 
20.    Global Zinc Market Forecast: Breakup by End Use (USD Million), 2024-2032
21.    Global Zinc Historical Market: Breakup by Region (USD Million), 2018-2023 
22.    Global Zinc Market Forecast: Breakup by Region (USD Million), 2024-2032
23.    Global Lead Market: Key Industry Highlights, 2018 and 2032 
24.    Global Lead Historical Market: Breakup by Source (USD Million), 2018-2023 
25.    Global Lead Market Forecast: Breakup by Source (USD Million), 2024-2032
26.    Global Lead Historical Market: Breakup by End Use (USD Million), 2018-2023 
27.    Global Lead Market Forecast: Breakup by End Use (USD Million), 2024-2032
28.    Global Lead Historical Market: Breakup by Region (USD Million), 2018-2023 
29.    Global Lead Market Forecast: Breakup by Region (USD Million), 2024-2032
30.    Global Nickel Market: Key Industry Highlights, 2018 and 2032 
31.    Global Nickel Historical Market: Breakup by Source (USD Million), 2018-2023 
32.    Global Nickel Market Forecast: Breakup by Source (USD Million), 2024-2032
33.    Global Nickel Historical Market: Breakup by End Use (USD Million), 2018-2023 
34.    Global Nickel Market Forecast: Breakup by End Use (USD Million), 2024-2032
35.    Global Nickel Historical Market: Breakup by Region (USD Million), 2018-2023 
36.    Global Nickel Market Forecast: Breakup by Region (USD Million), 2024-2032
37.    Global Aluminium Market: Key Industry Highlights, 2018 and 2032 
38.    Global Aluminium Historical Market: Breakup by Source (USD Million), 2018-2023 
39.    Global Aluminium Market Forecast: Breakup by Source (USD Million), 2024-2032
40.    Global Aluminium Historical Market: Breakup by End Use (USD Million), 2018-2023 
41.    Global Aluminium Market Forecast: Breakup by End Use (USD Million), 2024-2032
42.    Global Aluminium Historical Market: Breakup by Region (USD Million), 2018-2023 
43.    Global Aluminium Market Forecast: Breakup by Region (USD Million), 2024-2032
44.    Global Tin Market: Key Industry Highlights, 2018 and 2032 
45.    Global Tin Historical Market: Breakup by Source (USD Million), 2018-2023 
46.    Global Tin Market Forecast: Breakup by Source (USD Million), 2024-2032
47.    Global Tin Historical Market: Breakup by End Use (USD Million), 2018-2023 
48.    Global Tin Market Forecast: Breakup by End Use (USD Million), 2024-2032
49.    Global Tin Historical Market: Breakup by Region (USD Million), 2018-2023 
50.    Global Tin Market Forecast: Breakup by Region (USD Million), 2024-2032
51.    Major Exporting Countries by Value
52.    Major Importing Countries by Value
53.    Major Exporting Countries by Volume
54.    Major Importing Countries by Volume

Key Questions Answered in the Report

In 2023, the base metals market reached an approximate value of USD 866.10 billion.

The market is expected to grow at a CAGR of 4.5% between 2024 and 2032.

The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 1,282.20 billion by 2032.

Rapid industrialisation and urbanisation, growing utilisation of base metals by various industries, and technological advancements and innovations are driving the growth of the market.

Key trends aiding market expansion include the rising construction activities, growth of the automobile industry, and rising environmental consciousness.

Regions considered 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 copper, silver, zinc, lead, nickel, aluminium, and tin, among others.

Key players in the 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 (merged with the mining company Xstrata), Jiangxi Copper Corporation, and Lundin Mining Corporation, among others.

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