Metal and Metal Ores Market is projected to reach at $10,649,885 million by 2023, growing at a CAGR of 0.2% from 2017 to 2023. Metal is an important resource with properties such as high thermal & electrical conductivity, density, and possesses the ability to be deformed under pressure without splitting. The metals are of two major types-ferrous metals and nonferrous metals. Ferrous metals majorly comprise of iron and numerous types of steel primarily used in the building and construction, aviation and automobile industries. Nonferrous metals include zinc, lead, aluminum, copper, nickel, and tin that are used in the making of alloys, castings, wires, cables, forgings, extrusions, and pipes.
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Increase in demand for metals from various end-use industries such as building and construction, aerospace, and automotive. Further, ease of extraction of ores from the mines also predominantly drives the market. The cost of production is less if the extraction of the ore is easier, which indicates high profitability. However, the major restraint in the growth of the global metal and metal ores market is the government instability. Political uncertainty creates risk for the uninterrupted supply of ores. In addition, the adverse taxation and royalty clauses levied by certain governments is also expected to hamper the growth of global metal and metal ores market during the forecast period.
Segment Review
The report segments the global metal & metal manufactured products market based on metal type and region. By metal type, the market is categorized into aluminum, beryllium, bismuth, cadmium, cerium, chromium, cobalt, gold, indium, iron, lead, lithium, magnesium, manganese, mercury, and molybdenum. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Metal & Metal Ores Market, by Geography
Asia-Pacific occupied the major market with nearly half of the share in 2016 and is anticipated to register a CAGR of around 0.8% during the forecast period. This is due to the rapid industrialization and urbanization in several developing countries of the region resulting in substantial investments in infrastructure activities. Similarly, Europe is another region with significant growth rate, which accounted for nearly one-fifth market share in 2016.
Global Metal and Metal Ores Market, by Type
The global market is segmented into aluminum, beryllium, bismuth, cadmium, cerium, chromium, cobalt, gold, indium, iron, lead, lithium, magnesium, manganese, mercury, and molybdenum. The iron segment accounted for major share in the global market in 2016 and is anticipated to continue its dominance throughout the forecast period. Aluminum is expected to witness highest CAGR during the analysis period.
Key Benefits
- This report provides an extensive analysis of the current and emerging market trends and dynamics in the global metal and metal ores market.
- In-depth analysis is conducted by constructing market estimations for the key market segments between 2016 and 2023.
- This report entails the detailed quantitative analysis of the current market and estimations through 2016-2023, which assists in identifying the prevailing market opportunities.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework
- Comprehensive analysis of all regions is provided that determines the prevailing opportunities in these geographies…
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