Processed Nonferrous Metal Market Set to Surge to $1851.73 Billion by 2028, Growing at 3.7% CAGR within Forecast Period 2024-2033

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 offers in-depth market insights through Processed Nonferrous Metal Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The processed nonferrous metal market size has grown steadily in recent years. It will grow from $1528.75 billion in 2023 to $1598.92 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The growth in the historic period can be attributed to automotive industry demand, electronics and electrical appliances, aerospace and aviation sector, construction and infrastructure projects, renewable energy applications.

The processed nonferrous metal market size is expected to see steady growth in the next few years. It will grow to $1851.73 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to energy storage solutions, urbanization and smart cities, sustainable manufacturing practices, supply chain resilience, advancements in material science. Major trends in the forecast period include rise of 5g technology, technological advances in metal processing, advancements in lightweight alloys, increasing use in electronics, recycling initiatives.

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Market Segmentation:
The processed nonferrous metal market covered in this report is segmented -
1) By Type: 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)
2) By Process Type: Smelting and Refining, Rolling, Drawing, Extruding, Alloying, Other Process Types
3) By End User Industry: Automotive, Electronic Power, Construction, Other End User Industries

Major Driver - Urbanization Boom Fuels Demand For Processed Non-Ferrous Metal Market
Rapidly growing urban populations are expected to drive the demand for processed nonferrous metal market in the forecast period. As urban populations grow rapidly, there is an increased need for the construction of new buildings, infrastructure, and transportation systems to accommodate the rising number of residents. processed nonferrous metal are essential in construction for applications such as wiring, plumbing, roofing, and structural components. For instance, in April 2022, according to the World Economic Forum, a Switzerland-based independent international organization, more than 4.3 billion people, or 55% of the world's population, lived in urban settings, and the number is expected to rise to 80% by 2050. Therefore, growing urban populations are driving the demand for processed nonferrous metal market.

Competitive Landscape:
Major companies operating in the processed nonferrous metal market report are ExxonMobil Corporation, Glencore plc, BASF SE, Toyota Tsusho Corporation, Jiangxi Copper Company, The Dow Chemical Company, SABIC (Saudi Basic Industries Corporation), LyondellBasell Industries N.V., ThyssenKrupp AG, LG Chem Ltd., Mitsubishi Chemical Holdings Corporation, Freeport-McMoRan Inc., Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, MMC Norilsk Nickel PJSCm, Mitsubishi Materials Corporation, Grupo Mexico S.A.B. de C.V., DuPont de Nemours Inc., Sumitomo Metal Mining Co. Ltd., Eastman Chemical Company, Formosa Plastics Corporation, Sims Metal Management, JXTG Holdings Inc., Elemental Holding S.A., Triple M Metal, Tom Martin & Company Ltd., Baylis Automotive (Smethwick) Ltd., CAMX Power LLC, Magnapower Equipment Ltd.

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Top Trend - Development Of Products To Drive The Revenues Of Processed Nonferrous Metal Market
Major companies operating in the processed nonferrous metal market are developing new products such as pure copper powder to meet larger customer bases, more sales, and increase revenue. Pure copper powder refers to a fine, dry, and finely divided form of copper that consists of almost entirely copper atoms. For instance, in February 2021, Digital Metal, a Sweden-based provider of 3D metal printers for additive manufacturing, launched DM Cu, a new pure copper powder for use with its 3D printing binder jet technique. Users of the DM P2500 3D printer is going to be able to 3D print components made of 99.9% pure copper on the factory floor. The substance is renowned for having exceptional thermal conductivity, making it the material of choice for all heat-transfer devices, including heat exchangers, pipelines, and heat sinks for electronics and motors. Additionally, copper has antimicrobial qualities that bring up new possibilities for 3D printing medicinal equipment.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Processed Nonferrous Metal Market Characteristics
3. Processed Nonferrous Metal Market Trends And Strategies
4. Processed Nonferrous Metal Market - Macro Economic Scenario
5. Processed Nonferrous Metal Market Size And Growth
…..
27. Processed Nonferrous Metal Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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