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Metal Market - A Robust Growth from $4392.33 billion in 2025 to $5491.59 billion in 2029, Driven by Construction Developments, Advanced Technologies, and Key Market Players
Metal Market Size
What Is The Projected Market Size Of The Global Metal Market And Its Growth Rate?
• The metal market size will grow from $4392.33 billion in 2024 to $4651.03 billion in 2025, registering a compound annual growth rate (CAGR) of 5.9%
• The growth in the historic period is attributed to construction and infrastructure development, manufacturing and industrialization, automotive industry, war and defense needs, and mining and exploration activities.
• The market size is expected to further grow to $5491.59 billion in 2029 at a CAGR of 4.2%, driven by infrastructure investments, circular economy initiatives, supply chain resilience, climate change mitigation, and geopolitical factors.
What Is Driving The Growth In The Metal Market?
Increased global demand for copper significantly drives the metal manufacturing market. Copper, a reddish-brown, malleable, ductile, metallic element with the symbol Cu and atomic number 29, encourages higher production levels in the metal industry. The International Wrought Copper Council (IWCC) projected an increase in the demand for refined copper from 25.51 million tons in 2023 by 2.2%. The demand is expected to rise further by 2.5% to 26.15 million tons in 2024, driving the market forward.
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Who Are the Key Players Driving Metal Market Growth?
• 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
• 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
• Antofagasta plc
• Vedanta Limited
• First Majestic Silver Corp.
What Are The Key Trends In The Metal Market?
• 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
What Are The Segments Of The Global Metal Market?
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
Which Region Leads The Metal Market?
In 2024, Asia-Pacific was the largest region in the metal market, followed closely by Western Europe. The regions covered in the metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Metal Market Global Market Report?
- Market Size Analysis: Analyze the Metal Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Metal Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Metal Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Metal Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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