Metal Market Outlook 2025-2034: Key Trends, Growth Drivers, and Market Share

What industry-specific factors are fueling the growth of the metal market?
During the projected period, the global craving for copper is projected to surge, propelling the market for metal manufacturing. Copper, symbolized with Cu and atomic number 29, is a malleable, ductile, and metallic element that features a reddish-brown color. With a growing requirement for this metal, its production is being amplified. To cater to this demand, copper mining firms and refineries are enlarging their businesses, resulting in increased output levels for the metal sector. As an example, the International Wrought Copper Council (IWCC), a UK-based global organization for the copper and copper alloy manufacturing industry, published a report in May 2023 stating that the predicted demand for refined copper in 2023 would be 25.51 million tons, marking an increase of 2.2%. It is also anticipated that the refined copper requirement could grow by 2.5% to 26.15 million tons in 2024, thus propelling the market in the future.

Get Your Metal Market Report Here:
https://www.thebusinessresearchcompany.com/report/metal-global-market-report

What Is the projected market size and growth rate for the metal market?
The size of the metal market has seen robust growth in the past few years. The market is predicted to increase from $4392.33 billion in 2024 to $4651.03 billion in 2025, representing a compound annual growth rate (CAGR) of 5.9%. This historic growth can be associated with factors such as construction and infrastructure development, industrial manufacturing, the automotive industry, war and defense requirements, as well as mining and exploration activities.

In the upcoming years, the metal market is projected to experience stable expansion, surging to $5491.59 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 4.2%. This growth during the forecast period can be linked to various factors such as infrastructure investments, circular economy movements, supply chain durability, efforts to alleviate climate change, and geopolitical elements. Key trends for this period encompass technological breakthroughs in metal recycling, the integration of green technologies and renewable energy, advancement in metal processing technology, the emergence of smart manufacturing and Industry 4.0, as well as the rise of digital marketplaces and e-commerce.

Get Your Free Sample Now - Explore Exclusive Market Insights:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3546&type=smp

What new trends are reshaping the metal market and its opportunities?
Prominent businesses in the metal market are prioritizing the development of technologically advanced products such as low-carbon steel to improve sustainability, minimize carbon footprints, and fulfill growing regulatory and customer requirements for eco-friendly products. Carbon steel technology encapsulates the techniques and processes used to manufacture steel with different carbon levels, which influences its strength, hardness, and flexibility. For example, U.S. Steel, a company specializing in steel production based in the United States, introduced a new non-grain-oriented (NGO) electrical steel in October 2023. NGO electrical steel is a specialized variety of electrical steel mainly used in applications where the direction of magnetic flux alters, as seen in electric motors, transformers, and generators.

What major market segments define the scope and growth of the metal market?
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:
1) By Iron and Steel Mills and Ferroalloy: Integrated Steel Mills, Mini-Mills, Ferroalloy Production
2) By Processed Nonferrous Metal: Copper Products, Aluminum Products, Zinc Products
3) By Processed Alumina and Aluminum: Alumina Refining, Primary Aluminum Production, Secondary Aluminum Production
4) By Foundries: Ferrous Foundries, Nonferrous Foundries, Investment Casting Foundries
5) By Steel Products: Flat Steel Products, Long Steel Products, Specialty Steel Products

Unlock Exclusive Market Insights - Purchase Your Research Report Now!
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=3546

Which region dominates the metal market?
Asia-Pacific was the largest region in the metal market in 2024. Western Europe was the second-largest region in the metal market. The regions covered in the metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which key market leaders are driving the metal industry growth?
Major companies operating in the metal market include 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.

Customize Your Report - Get Tailored Market Insights!
https://www.thebusinessresearchcompany.com/customise?id=3546&type=smp

What Is Covered In The Metal Global Market Report?

•Market Size Forecast: Examine the metal market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the metal market for a structured understanding.
•Key Players Overview: Analyze major players in the metal market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the metal market.
•Segment Contributions: Evaluate how different segments drive overall growth in the metal market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the metal market.
•Industry Challenges: Identify potential risks and obstacles affecting the metal market.
•Competitive Landscape: Review strategic developments in the metal market, including expansions, agreements, and new product launches.

Connect with us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company,
Twitter: https://twitter.com/tbrc_info,
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ.

Contact Us
Europe: +44 207 1930 708,
Asia: +91 88972 63534,
Americas: +1 315 623 0293 or
Email: mailto:info@tbrc.info

Learn More About The Business Research Company
With over 15,000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Our flagship product, the Global Market Model delivers comprehensive and updated forecasts to support informed decision-making.

This release was published on openPR.