This report describes and explains the metal market and covers 2018-2023, termed the historic period, and 2023-2028, 2033F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global metal market reached a value of nearly $4.08 trillion in 2023, having grown at a compound annual growth rate (CAGR) of 3.05% since 2018. The market is expected to grow from $4.08 trillion in 2023 to $5.29 trillion in 2028 at a rate of 5.32%. The market is then expected to grow at a CAGR of 4.15% from 2028 and reach $6.49 trillion in 2033.
Growth in the historic period resulted from the growing construction industry, growth of the automotive industry, favorable government initiatives and increasing demand for consumer electronics. Factors that negatively affected growth in the historic period include increasing raw material costs.
Going forward, the increasing adoption of copper, rising investments in infrastructure development projects, increasing investments in renewable energy projects, increase in mining activities and increasing industrialization will drive the market. Factors that could hinder the growth of the metal market in the future include skills shortages and presence of substitutes.
The metal market is segmented by type into iron and steel mills and ferroalloys, processed nonferrous metals, processed alumina and aluminum, foundries and steel products. The processed nonferrous metals market was the largest segment of the metal market segmented by type, accounting for 36.78% or $1.5 trillion of the total in 2023. Going forward, the processed alumina and aluminum segment is expected to be the fastest growing segment in the metal market segmented by type, at a CAGR of 6.16% during 2023-2028.
The metal market is segmented by metal type into iron ore, gold, copper, aluminum, nickel and other metal types. The iron ore market was the largest segment of the metal market segmented by metal type, accounting for 39.99% or $1.63 trillion of the total in 2023. Going forward, the aluminum segment is expected to be the fastest growing segment in the metal market segmented by metal type, at a CAGR of 5.94% during 2023-2028.
The metal market is segmented by end-user into construction, manufacturing and other end-users. The construction market was the largest segment of the metal market segmented by end-user, accounting for 50.65% or $2.06 billion of the total in 2023. Going forward, the manufacturing segment is expected to be the fastest growing segment in the metal market segmented by end-user, at a CAGR of 5.96% during 2023-2028.
Asia-Pacific was the largest region in the metal market, accounting for 60.76% or $2.48 trillion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the electric kick scooter market will be South America and the Middle East, where growth will be at CAGRs of 16.62% and 16.34% respectively. These will be followed by Africa and Western Europe, where the markets are expected to grow at CAGRs of 12.93% and 4.20% respectively.
The global metal market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 3.78% of the total market in 2023. China Baowu Group was the largest competitor with a 1.05% share of the market, followed by ArcelorMittal S.A with 0.88%, Ansteel Group with 0.33%, Nippon Steel & Sumitomo Metal Corporation (NSSMC) with 0.31%, Pohang Iron and Steel Company (POSCO) with 0.29%, Shagang Group with 0.27%, Rio Tinto Group with 0.21%, Hindalco Industries Limited with 0.16%, BHP Group plc with 0.16% and Tata Steel Group with 0.12%.
The top opportunities in the metal market segmented by type will arise in the processed nonferrous metal segment, which will gain $355.98 billion of global annual sales by 2028. The top opportunities in the metal market by metal type will arise in the iron ore segment, which will gain $525.28 billion of global annual sales by 2028. The top opportunities in the metal market by end-user will arise in the construction segment, which will gain $558.33 billion of global annual sales by 2028. The metal market size will gain the most in China at $242.53 billion.
Market-trend-based strategies for the metal market include focus on integration of generative AI solutions for additive manufacturing, innovations in blast furnace technology for enhanced production capacities, new plant expansions for enhanced productivity, technology advancements for improved metal production and integration of AI for operational efficiency.
Player-adopted strategies in the metal market include focus on strengthening business operations through strategic partnerships, strategic mergers and new product solutions.
To take advantage of the opportunities, the analyst recommends the metal companies to focus on leveraging generative AI solutions for additive manufacturing, focus on innovating blast furnace technology for enhanced production, focus on advancing technology for enhanced metal production, focus on iron and steel mills and ferroalloy market segment, focus on aluminum market segment, focus on expanding production facilities and innovation, focus on expanding presence in emerging markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on manufacturing segment for growth.
The global metal market reached a value of nearly $4.08 trillion in 2023, having grown at a compound annual growth rate (CAGR) of 3.05% since 2018. The market is expected to grow from $4.08 trillion in 2023 to $5.29 trillion in 2028 at a rate of 5.32%. The market is then expected to grow at a CAGR of 4.15% from 2028 and reach $6.49 trillion in 2033.
Growth in the historic period resulted from the growing construction industry, growth of the automotive industry, favorable government initiatives and increasing demand for consumer electronics. Factors that negatively affected growth in the historic period include increasing raw material costs.
Going forward, the increasing adoption of copper, rising investments in infrastructure development projects, increasing investments in renewable energy projects, increase in mining activities and increasing industrialization will drive the market. Factors that could hinder the growth of the metal market in the future include skills shortages and presence of substitutes.
The metal market is segmented by type into iron and steel mills and ferroalloys, processed nonferrous metals, processed alumina and aluminum, foundries and steel products. The processed nonferrous metals market was the largest segment of the metal market segmented by type, accounting for 36.78% or $1.5 trillion of the total in 2023. Going forward, the processed alumina and aluminum segment is expected to be the fastest growing segment in the metal market segmented by type, at a CAGR of 6.16% during 2023-2028.
The metal market is segmented by metal type into iron ore, gold, copper, aluminum, nickel and other metal types. The iron ore market was the largest segment of the metal market segmented by metal type, accounting for 39.99% or $1.63 trillion of the total in 2023. Going forward, the aluminum segment is expected to be the fastest growing segment in the metal market segmented by metal type, at a CAGR of 5.94% during 2023-2028.
The metal market is segmented by end-user into construction, manufacturing and other end-users. The construction market was the largest segment of the metal market segmented by end-user, accounting for 50.65% or $2.06 billion of the total in 2023. Going forward, the manufacturing segment is expected to be the fastest growing segment in the metal market segmented by end-user, at a CAGR of 5.96% during 2023-2028.
Asia-Pacific was the largest region in the metal market, accounting for 60.76% or $2.48 trillion of the total in 2023. It was followed by Western Europe, North America and then the other regions. Going forward, the fastest-growing regions in the electric kick scooter market will be South America and the Middle East, where growth will be at CAGRs of 16.62% and 16.34% respectively. These will be followed by Africa and Western Europe, where the markets are expected to grow at CAGRs of 12.93% and 4.20% respectively.
The global metal market is highly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 3.78% of the total market in 2023. China Baowu Group was the largest competitor with a 1.05% share of the market, followed by ArcelorMittal S.A with 0.88%, Ansteel Group with 0.33%, Nippon Steel & Sumitomo Metal Corporation (NSSMC) with 0.31%, Pohang Iron and Steel Company (POSCO) with 0.29%, Shagang Group with 0.27%, Rio Tinto Group with 0.21%, Hindalco Industries Limited with 0.16%, BHP Group plc with 0.16% and Tata Steel Group with 0.12%.
The top opportunities in the metal market segmented by type will arise in the processed nonferrous metal segment, which will gain $355.98 billion of global annual sales by 2028. The top opportunities in the metal market by metal type will arise in the iron ore segment, which will gain $525.28 billion of global annual sales by 2028. The top opportunities in the metal market by end-user will arise in the construction segment, which will gain $558.33 billion of global annual sales by 2028. The metal market size will gain the most in China at $242.53 billion.
Market-trend-based strategies for the metal market include focus on integration of generative AI solutions for additive manufacturing, innovations in blast furnace technology for enhanced production capacities, new plant expansions for enhanced productivity, technology advancements for improved metal production and integration of AI for operational efficiency.
Player-adopted strategies in the metal market include focus on strengthening business operations through strategic partnerships, strategic mergers and new product solutions.
To take advantage of the opportunities, the analyst recommends the metal companies to focus on leveraging generative AI solutions for additive manufacturing, focus on innovating blast furnace technology for enhanced production, focus on advancing technology for enhanced metal production, focus on iron and steel mills and ferroalloy market segment, focus on aluminum market segment, focus on expanding production facilities and innovation, focus on expanding presence in emerging markets, provide competitively priced offerings, participate in trade shows and events, continue to use B2B promotions and focus on manufacturing segment for growth.
Table of Contents
1 Executive Summary
6 Market Characteristics
9 Metal Market Customer Information
10 Major Market Trends
11 Metal Market - Macro Economic Scenario
12 Global Market Size and Growth
13 Global Metal Market Segmentation
14 Metal Market, Regional and Country Analysis
15 Asia-Pacific Market
16 Western Europe Market
17 Eastern Europe Market
18 North America Market
19 South America Market
20 Middle East Market
21 Africa Market
22 Competitive Landscape and Company Profiles
23 Other Major and Innovative Companies
26 Key Mergers and Acquisitions
27 Opportunities and Strategies
28 Metal Market, Conclusions and Recommendations
29 Appendix
Executive Summary
Metal Global Market Opportunities And Strategies To 2033 provides the strategists; marketers and senior management with the critical information they need to assess the global metal market as it emerges from the COVID-19 shut down.Reasons to Purchase:
- Gain a truly global perspective with the most comprehensive report available on this market covering 50 geographies.
- Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market research findings.
- Benchmark performance against key competitors.
- Utilize the relationships between key data sets for superior strategizing.
- Suitable for supporting your internal and external presentations with reliable high-quality data and analysis.
Description
Where is the largest and fastest-growing market for metal? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The metal market global report answers all these questions and many more.The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market’s history and forecasts market growth by geography. It places the market within the context of the wider metal market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by type, by metal type and by end-user.
- Product Analysis The product analysis section of the report describes the leading products in the metal market, along with key features and differentiators for those products.
- Supply Chain The supply chain section of the report defines and explains the key players in the metal industry supply chain.
- Customer Information The chapter covers recent customer trends/preferences in the global metal market.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the metal market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by type, by metal type and by end-user in the market. Historic (2018-2023) and forecast (2022-2027) and (2027-2032) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Other Major And Innovative Companies Details on the company profiles of other major and innovative companies in the market.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for metal providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
1) By Type: Iron And Steel Mills And Ferroalloys; Processed Nonferrous Metals; Processed Alumina And Aluminum; Foundries; Steel Products2) By Metal Type: Iron Ore; Gold; Copper; Aluminum; Nickel; Other Metal Types
3) By End User: Construction; Manufacturing; Other End Users
Key Companies Mentioned: China Baowu Group; ArcelorMittal S.A.; Ansteel Group; Nippon Steel & Sumitomo Metal Corporation (NSSMC); Pohang Iron and Steel Company (POSCO)
Countries: China; Australia; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam, Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Brazil; Mexico; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Chile; Argentina; Colombia; Peru; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; metal indicators comparison.
Data Segmentation: Country and regional historic and forecast data; market share of competitors; market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Companies Mentioned
- China Baowu Group
- ArcelorMittal S.A.
- Ansteel Group
- Nippon Steel & Sumitomo Metal Corporation (NSSMC)
- Pohang Iron and Steel Company (POSCO)
- Shagang Group
- Rio Tinto Group
- Hindalco Industries Limited
- BHP Group plc
- Tata Steel Group
- Jiangxi Copper Corporation
- Australian Strategic Materials Ltd.
- BHP Group Limited
- Tokyo Steel Co., Ltd.
- SAC
- Ulanhot Steel
- Adani Group
- MACH Metals
- REX Minerals
- JFE Holdings Inc.
- Hyundai Steel Co Ltd.
- Kobe Steel Ltd.
- Vedanta Limited.
- Mitsubishi Electric Corporation
- Metals Australia Ltd.
- JSW Steel Limited
- Jindal Stainless
- Glencore International AG
- Müller Opladen GmbH
- Aftech Ltd
- Hydnum Steel
- ThyssenKrupp AG
- Anglo American plc
- Boliden AB
- Antofagasta plc.
- John Lawrie Metals Ltd.
- STI Group
- SWR Group
- Flowserve
- Timken
- Schaeffler
- NLMK Group
- Salzgitter AG
- Danieli Group
- Tenaris S.A.
- Acerinox S.A.
- Liberty Steel Group Holdings UK Ltd
- Liberty Ostrava a.s.
- RusAL
- Trinec Iron Works Inc.
- Kovona System Inc.
- Nornickel
- Alumetal S.A.
- Norsk Hydro ASA
- Zakład Przerobu Złomu (Złomex)
- Huta Stalowa Wola S.A.
- KGHM Polska Miedź S.A.
- TMK Group
- Severstal
- Metalloinvest Management Company LLC
- Canada Nickel Company Inc.
- Norlen Inc.
- Muthig Industries
- American Alloy Steel Inc.
- Generation Growth Capital Inc.
- Desktop Metal Inc.
- Nucor Corporation
- ABB Ltd
- Industrial Manufacturing Services (IMS)
- SCM Ventana Minerals Group
- CSP (Companhia Siderúrgica do Pecém)
- Eramet
- Gerdau
- McEwen Copper
- MS-Metals
- Saudi Basic Industries Corporation (SABIC)
- Malco Energy Ltd.
- Ma'aden
- Khambati Metal Industries
- Al Ruwais Metal and Steel Factory LLC
- Gold Fields Ltd.
- Thor Explorations Ltd.
- Anglo American Platinum
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 347 |
| Published | September 2024 |
| Forecast Period | 2023 - 2033 |
| Estimated Market Value ( USD | $ 4.1 Trillion |
| Forecasted Market Value ( USD | $ 6.5 Trillion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
| No. of Companies Mentioned | 83 |
