Nonferrous Metal Refining in the US - Market Size, Industry Analysis, Trends and Forecasts (2024-2029)

Highly refined: A rising Consumer Confidence Index will spearhead steady industry revenue growth

Nonferrous metal refining is highly globalized and closely linked to activity in the construction and manufacturing sectors, along with being heavily influenced by fluctuations in the price of copper and other nonferrous metals, which often reflect cyclical changes in both domestic and global demand. Despite fluctuating demand from downstream markets, the price of copper and nonferrous metals benefited from significant increases for the majority of the five years to 2023, which has benefited the industry as nonferrous metal refiners increased selling prices. Nonferrous metal refining revenue has been expanding at a CAGR of 2.7% over the past five years and is expected to total $16.8 billion in 2023, when revenue will fall by an estimated 4.8%. Similarly, the average industry profit margin will also rise as nonferrous metal refiners implement cost-saving strategies.

Companies in this industry smelt or refine nonferrous metals other than aluminum. The smelting or refining process includes the use of both electrolytic and traditional furnace-based procedures. Some operators may provide their services on a fee-for-service basis, more commonly known as toll refining. This industry does not include secondary smelting or refining.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.