Emerging Trends Influencing The Growth Of The Metal Market: Launch Of Non-Grain-Oriented Electrical Steel To Enhance Sustainability

The Metal Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Metal Market?
The size of the metal market has seen robust expansion in the past few years. It is projected to rise from $4392.33 billion in 2024 to $4651.03 billion in 2025, boasting a compound annual growth rate (CAGR) of 5.9%. The historical growth can be credited to factors such as construction and infrastructure development, industrialization and manufacturing, the automotive industry, demands from war and defense, and mining and exploration activities.

The size of the metal market is estimated to experience a stable increase over the next couple of years, with a projected value of $5491.59 billion by 2029 and a Compound Annual Growth Rate (CAGR) of 4.2%. The anticipated surge in the forecast duration can be credited to infrastructure investments, efforts towards a circular economy, maintaining supply chain robustness, tackling climate change, and geopolitical influences. Key developments expected in this timeframe comprise of technological breakthroughs in metal recycling, eco-friendly technologies, and green energy, advancements in metal processing, intelligent manufacturing and the fourth industrial revolution, as well as the shift towards online marketplaces and e-commerce.

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What Are the Different Metal Market Segments?
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

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What Are the Primary Drivers Shaping the Metal Market?
The expectation is for a rise in the global need for copper throughout the prediction period, which will push the metal fabrication market forward. Copper, denoted by the symbol Cu and atomic number 29, is a metallic element that is ductile, malleable, and has a reddish-brown hue. The heightened need for copper stimulates more production of the element. Copper mining firms and refineries are scaling up their operations to keep pace with the demand, which results in a boost in general production within the metal sector. For example, the International Wrought Copper Council (IWCC), a globally-respected organization based in the UK that specializes in the copper and copper alloy production sector, predicted in a May 2023 report that the demand for purified copper in 2023 would hit 25.51 million tons, a growth rate of 2.2%. The need for this type of copper is projected to grow by 2.5% to 26.15 million tons in 2024, propelling the market into the future.

Which Companies Are Leading in the Metal Market?
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.

What Are the Major Trends Shaping the Metal Market?
Companies that are major players in the metal market are channeling their focus on the advancement of new technologies, such as low-carbon steel, to enhance sustainability and reduce carbon emissions. These efforts align with the ever-increasing regulatory and consumer requirements for eco-friendly products. The concept of carbon steel technology involves the procedures and techniques utilized to manufacture steel with varying levels of carbon, thereby impacting its strength, toughness, and adaptability. For instance, U.S. Steel, a renowned steel production company based in the United States, unveiled a new non-grain-oriented (NGO) electrical steel in October 2023. This specialized type of electrical steel, which is primarily used in settings where the direction of the magnetic flux alters, such as in electric motors, transformers, and generators, illustrates this focus on innovation.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Metal Market?
2. What is the CAGR expected in the Metal Market?
3. What Are the Key Innovations Transforming the Metal Industry?
4. Which Region Is Leading the Metal Market?

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