Unlocking Opportunities in the Metal And Mineral Market: 2025-2034 Forecast Report

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What Is the Expected CAGR for the Metal And Mineral Market Through 2025?
In recent years, the market size for metals and minerals has seen substantial expansion. The market is projected to move from $8432.82 billion in 2024 to an amount of $8946.24 billion in 2025, indicating a compound annual growth rate (CAGR) of 6.1%. The historic growth trends in this market can be credited to the expansion of industrialization and urbanization, global economic patterns, policies related to trade and exports, projects related to infrastructure, and environmental protocols.

What's the Projected Size of the Global Metal And Mineral Market by 2029?
The sector of metals and minerals is projected to witness consistent expansion in the coming years, with a market value rising to $10704.96 billion by 2029, driven by a compound annual growth rate (CAGR) of 4.6%. This growth trajectory over the forecast period can be linked to factors such as the circular economy initiatives, the rise of electric vehicles (EV), resilient supply chains, geopolitical aspects, and shifting consumer behaviors. In the same forecast period, there would be significant trends such as sustainable technologies, technological innovation in processing, advancements in mining technology, an amplified emphasis on recycling, as well as the digitalization and automation in mining.

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Top Growth Drivers in the Metal And Mineral Industry: What's Accelerating the Market?
The forecasted growth in the metal and mineral manufacturing sector can be attributed to the fast-paced advancements in wireless technology and miniaturization, which allows for the development of smaller components in equipment. Additionally, the incorporation of technologies like 3D printing, artificial intelligence, and big data analytics during the manufacturing process enhances productivity, reduces operational costs and boosts profit margins. The manufacturing industry, as per a study by accenture*, is anticipated to experience a significant 4.4% surge in the gross value added (GVA) annually by 2035, brought about by artificial intelligence. Moreover, the study suggests that artificial intelligence could potentially enhance profitability by an average of 38% by 2035. When operational costs are no longer burdensome, companies gain higher profit margins, enabling them to widen their production scope and bolster their product portfolio, which, in turn, fuels the growth of the metal and mineral manufacturing market in the ensuing years.

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What Trends Will Shape the Metal And Mineral Market Through 2029 and Beyond?
Numerous manufacturing firms in the metal and mineral sector are adopting robotics and automation to enhance operational efficiency and boost output. Various machines are integrated with sensors to extract critical data, which is then used to improve efficiency and avoid potential malfunctions. As per a study by Boston Consulting Group (BCG), a major management consulting firm in the USA, the number of industrial robots is projected to hit 1.2 million by 2025. This uptick reveals an increased acceptance of automation and robotics technology for enhancing productivity and trimming production expenses. The report from Netherlands' KPMG, a professional services company, mentions that 16% of executives from global metals corporations have invested in robotics for metal manufacturing. Also, 31% have tentative plans for investment in robotics for novel technology and possibilities whereas, 42% are considering such investments in the near future. Furthermore, the report highlights that 63% of metal manufacturing company executives are contemplating investments in automation. Companies such as FANUC, KUKA, ABB, and Motoman are some of the notable industrial robot suppliers to metal firms.

What Are the Main Segments in the Metal And Mineral Market?
The metal and mineral market covered in this report is segmented -

1) By Type: Mineral, Metal, Metal Products
2) By Application: Chemicals Manufacturing, Metallurgy, Electrical Grid Infrastructure, Electronics, Glass Products, Vehicles, Other Applications
3) By End User: Construction, Manufacturing, Other End Users

Subsegments:
1) By Mineral: Industrial Minerals, Precious Minerals, Energy Minerals
2) By Metal: Ferrous Metals, Non-Ferrous Metals, Precious Metals
3) By Metal Products: Metal Sheets and Plates, Metal Pipes and Tubes, Metal Castings and Forgings, Metal Alloys and Composites

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Which Top Companies are Driving Growth in the Metal And Mineral Market?
Major companies operating in the metal and mineral market include Glencore plc, ArcelorMittal S.A., Pohang Iron and Steel Company, BHP Group, Nippon Steel & Sumitomo Metal Corporation, Baoshan Iron & Steel Company Limited, Rio Tinto, China Shenhua Energy Co. Ltd., Vale S.A., China National Building Material Group Co. Ltd, Hindalco Industries Limited, Freeport-McMoRan Inc., Norsk Hydro ASA, Vedanta Limited, Teck Resources Limited, Newmont Corporation, Barrick Gold Corporation, Alcoa Corporation, Southern Copper Corporation, Anglo American Platinum Limited, Sibanye Stillwater Limited, First Quantum Minerals, Agnico Eagle Mines Limited, Gold Fields Limited, Kinross Gold Corporation, Yamana Gold Inc., Wheaton Precious Metals Corp., Pan American Silver Corp., First Majestic Silver Corp., PJSC ALROSA, Polymetal International plc, Turquoise Hill Resources Ltd., Lundin Mining Corporation, OZ Minerals Limited, Hochschild Mining plc, SSR Mining Inc., Fortescue Metals Group Limited, Kaz Minerals PLC, Mineral Resources Limited, Iamgold Corporation, Centamin plc, Sierra Metals Inc., Osisko Gold Royalties Ltd., Sandstorm Gold Ltd.

Which Regions Will Dominate the Metal And Mineral Market Through 2029?
Asia-Pacific was the largest region in the metal and mineral market in 2024. Western Europe was the second-largest region in the metal and mineral market. The regions covered in the metal and mineral market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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