Global Metal Market 2024 Future Trends, Scope, Industry Analysis And Forecast To 2033 | Major Players Are Glencore International PLC, ArcelorMittal S.A., Jiangxi Copper Company Limited, POSCO, BHP Group.

"The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Metal Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:
The metal market size has grown strongly in recent years. It will grow from $4146.16 billion in 2023 to $4380.4 billion in 2024 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to construction and infrastructure development, manufacturing and industrialization, automotive industry, war and defense needs, mining and exploration activities.

The metal market size is expected to see steady growth in the next few years. It will grow to $5267.42 billion in 2028 at a compound annual growth rate (CAGR) of 4.7%. The growth in the forecast period can be attributed to infrastructure investments, circular economy initiatives, supply chain resilience, climate change mitigation, geopolitical factors. Major trends in the forecast period include technological innovation in metal recycling, green technologies and renewable energy, technological advancements in metal processing, smart manufacturing and industry 4.0, digital marketplaces and e-commerce.

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Key Market Players:
Major companies operating in the metal market report are Glencore International plc, ArcelorMittal S.A., Jiangxi Copper Company Limited, POSCO, BHP Group, Nippon Steel & Sumitomo Metal Corporation, Baoshan Iron & Steel Co. Ltd., Rio Tinto Group, Thyssenkrupp AG, Vale S.A., Nucor Corporation, JFE Holdings Inc., Anglo American plc, Anglo American, Tata Steel Group, Hindalco Industries Limited, Freeport-McMoRan Inc., Hyundai Steel Company, Kobe Steel Ltd., Grupo Mexico, Teck Resources Limited, Alcoa Corporation, Newmont Corporation, Barrick Gold Corporation, Southern Copper Corporation, Boliden AB, Vulcan Materials Company, Antofagasta plc, Vedanta Limited, First Majestic Silver Corp.

Market Drivers:
The global demand for copper is expected to increase during the forecast period, driving the metal manufacturing market. Copper refers to a reddish-brown, malleable, ductile, and metallic element with the symbol Cu and atomic number 29. Rising demand for copper encourages increased production of the metal. Copper mining companies and refineries expand their operations to meet the demand, leading to higher overall production levels in the metal industry. For instance, in May 2023, according to a report published by the International Wrought Copper Council (IWCC), a UK-based international association for the copper and copper alloy fabricating industry, the forecasted demand for refined copper in 2023 is 25.51 million tonnes, an increase of 2.2%. The demand for refined copper could rise by 2.5% to 26.15 million tonnes in 2024, thereby driving the market going forward.

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The metal market covered in this report is segmented -
1) By Type: Iron and Steel Mills and Ferroalloy, Processed Nonferrous Metal, Processed Alumina and Aluminum, Foundries, Steel Products
2) By Metal Type: Aluminum, Beryllium, Bismuth, Cadmium, Cerium, Chromium, Cobalt, Other Metal Types
3) By End User: Construction, Manufacturing, Other End Users

Subsegments Covered: Crude Steel, Pig Iron, Ferroalloys, Smelted and Refined Nonferrous Metal (except Aluminum), Rolled, Extruded and Alloyed Copper, Rolled and Extruded Nonferrous Metal (except Copper and Aluminum), Secondary Smelted, Refined and Alloyed Nonferrous Metal (except Copper and Aluminum), Aluminum Products From Purchased Aluminum, Secondary Smelted and Alloyed Aluminum, Refined Alumina and Primary Aluminum Production, Ferrous Metal Foundries, Nonferrous Metal Foundries, Iron and Steel Pipe and Tube, Rolled and Drawn Steel

The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?

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