Non-Ferrous Metals market is anticipated to reach $1,598.65 Billion by 2030 : Cognitive Market Research

The Global Non-Ferrous Metals market accounted for $1,276 Billion in 2022 and is anticipated to reach $1,598.65 Billion by 2030, registering a CAGR of 5.9% from 2022 to 2030
Non-ferrous metals or alloys are defined as materials that are not iron-based like their ferrous counterparts. Non-ferrous metals are usually employed in the industry due to: - Ease of fabrication (casting, rolling, welding, and machining), Resistance to corrosion, Electrical and thermal conductivity., and Weight.

Market Dynamics:
• Growing industrialization and Government investments in infrastructure projects are the key driving factors for the nonferrous metal market. Non-ferrous metals are used in different manufacturing applications. The rustproof characteristics of non-ferrous metals make them an attractive choice for humid environments. Humidity is moisture vapor. While moisture vapor can cause ferrous metals to rust, it doesn't have the same effects on non-ferrous metals. Further, the growing automotive and automobile industry is also an important driving factor for the global non-ferrous metal industry.

• Technology advancements can create lucrative opportunities for the non-ferrous metals market. The rising applications of non-ferrous metals in high-tech industries, such as aerospace and renewable energy, drive demand for these metals. However, the production of non-ferrous metals is very energy-intensive, which can hamper the growth of the market. High energy prices can discourage investment in primary nonferrous metal market production.

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Regional Analysis of the Non-Ferrous Metals Market:
• Asia Pacific is the largest contributor in global Non-ferrous metals, accounting for 47.56% of the market share in 2022. Many Asian countries such as India, China, and Japan have experienced strong economic growth, these countries are investing in infrastructure development which leads to the growth of the non-ferrous metal market. Asia Pacific region is home to many of the world's major manufacturing hubs, which also drive demand for non-ferrous metals.

• Europe held the second-largest market share in 2022. As Europe is the biggest consumer of non-ferrous metals worldwide. In the manufacture of non-ferrous metals, aluminum represents the largest share. According to, European Economy, the non-ferrous market turnover was €116.09 billion (1.8%) in 2010

Top players involved in the Non-Ferrous Metals market:
• Rio Tinto plc
• United Co. RUSAL plc
• Anglo American plc
• Sumitomo Metal Mining Co Ltd
• MMC Norilsk Nickel JSC
• BHP Billiton plc
• Alcoa
• Glencore
• Vale
• Hindalco Novelis
• MMC Norilsk Nickel
• Others

Current Trends of Manufacturers:
• Acquisition of Stake in Valhalla Metals Inc. to Explore Non-ferrous Metals in Alaska, United States (September 2022)
- MARUBENI METALS & MINERALS (CANADA) INC., a wholly owned subsidiary of Marubeni Corporation, and Valhalla Metals Inc., a Canadian exploration company, have agreed that MMM will acquire an approximately 19.99% stake in Valhalla by subscribing to a third-party allotment of new shares for approximately C$8.3 million.

• Sumitomo Metal Mining Co., Ltd. has Established SMM × Tohoku University GX Materials Science Co-Creation Research Center (October 2022)
- Sumitomo Metal Mining Co., Ltd. and Tohoku University has established the SMM × Tohoku University GX Materials Science Co-Creation Research Center on October 1, 2022, with the aim of making proposals and plans for R&D themes concerning GX (Green Transformation) material science.

Segment Analysis:
• Based on the type of non-ferrous metal, the market is segmented into aluminum, copper, lead, tin, and others. Aluminium held the largest market share in 2022, owing to its versatility, lightweight, recycling properties, and increasing demand automotive and construction industries. Aluminium has a wide range of applications, such as transportation, construction, packaging, and consumer goods. Further, copper held the second-largest market share in 2022. The cooper has excellent electrical conductivity, so it has applications in electrical and electronic applications, such as wiring, motors, and generators.

• Further, based on end users, the market is segmented into Automotive, Electrical, Packaging, Construction, and others. The construction industry is the largest contributor to the global nonferrous metal market in 2022, accounting for about 37.56%. Non-ferrous metals are widely used in the construction industry for roofing, plumbing, building materials, and electrical wiring, which is fuelling the growth of the market. Further, the transportation industry held the second-largest market share. Non-ferrous metals are used in the transportation industry, particularly in the automotive, aerospace, and rail sectors

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