Metal & Metal Manufactured Products Market Share and Forecast 2023-2028
How big is the metal & metal manufactured products market?
The global metal & metal manufactured products market size reached US$ 12.57 Trillion in 2022. Looking forward, IMARC Group expects the market to reach US$ 17.34 Trillion by 2028, exhibiting a growth rate (CAGR) of 5.42% during 2023-2028.
What is metal & metal manufactured products?
A naturally occurring inorganic material known as metal is frequently discovered in the earth's crust as ores or in its free state. Silver, copper, platinum, iron, gold, cobalt, zinc, sodium, potassium, and calcium are among its constituent elements. While cutting and shaping metals through forging, stamping, welding, bending, machining, notching, and shearing are used to create metal-manufactured items. They are commonly employed in surgical instruments, cutlery, windows, doors, pipes, structural components, tools, bolts, cans, and electronic goods. They are ecological, strong, durable, lustrous, opaque, cost-effective, easy to reuse, recycle, and process, and provide excellent electrical and thermal conductivity. Nowadays, metal and metal-manufactured products find widespread application in the manufacturing, healthcare, electronics, automotive, power generation, aerospace, and defense sectors.
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What are the growth prospects and trends in the metal & metal manufactured products industry?
Due to the product's rigidity, strength, and capacity to be moulded into intricate patterns that increase vehicle safety, lower maintenance costs, and improve performance, metal and metal-manufactured items are being used in the automotive industry, which is the key factor driving the market. It is frequently used for body panels, wheels, doors, axles, reflectors, frames, suspension systems and engine and gearbox elements. Additionally, the extensive use of cutting-edge lightweight metals in car manufacturing to boost economies, reduce emissions, and promote structural efficiency is fostering market expansion. Moreover, the emergence of three-dimensional (3D) printing technology offers design freedom, reduces production costs, and improves efficiency while enhancing performance and strength, represents another major growth-inducing factor. Besides this, the rising product demand in the aerospace and defense sector to manufacture satellites, helicopters, tanks, space shuttles, rockets, drones, and aircraft is providing a positive thrust to market growth. Furthermore, the significant expansion in the construction and healthcare industry and extensive investment in infrastructure development activities are propelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
Wires and Cables
Jewelry and Ornaments
Bars and Rebars
Pipe Fixtures and Fittings
Paints and Coatings
Metal Type Insights:
End Use Industry Insights:
Automotive and Transportation
Aerospace and Defense
Electrical and Electronics
Energy and Power
Breakup by Region:
Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
All Metal Sales Inc.
Anglo American plc
Asarco LLC (Americas Mining Corporation)
Broder Metals Group Ltd.
CMOC Group Limited
Hochschild Mining plc
Interstate Metal Inc.
Rio Tinto Group (Rio Tinto International Holdings Limited)
Sierra Metals Inc.
Talco Aluminium Company, etc.
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