Non-Ferrous Metals Market

Market Overview:

The global non-ferrous metals market size reached US$ 1,079 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,459 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028. The rising product utilization in the automotive industry, the growing product demand in the construction industry, the recent development of advanced coatings and treatments, and the adoption of sustainable production and recycling techniques represent some of the key factors driving the market.

Non-ferrous metals refer to metallic substances that do not contain iron (Fe) as their principal component. It includes copper, zinc, lead, aluminum, tin, nickel, titanium, chromium, magnesium, silver, platinum, and gold. They are widely used in electronic devices, automobile parts, jewelry, home appliances, decorative items, aircraft, satellites, defense equipment, medical instruments, batteries, building materials, packaging, and industrial machinery. Non-ferrous metals are non-magnetic substances and offer several characteristic properties, such as high corrosion resistance, lower melting point, excellent thermal and electrical conductivities, ductility, and malleability. They are cost-effective, lightweight, readily available, and easy to recycle substances, which aids in reducing energy consumption, and minimizing adverse environmental impact. As a result, non-ferrous metals find extensive applications across the automotive, aerospace, healthcare, defense, consumer electronics, construction, and manufacturing industries.

Non-Ferrous Metals Market Trends:

The rising product utilization in the automotive industry is one of the primary factors providing an impetus to the market growth. Non-ferrous metals are widely used in various automotive parts, such as body panels, engine blocks, pistons, cylinder heads, wheels, wiring, radiator, transmission casing, steering, interior trim, suspension parts, exhaust systems, and catalytic converters. Along with this, the increasing product application in electric vehicles (EVs), such as battery packs, enclosures, charging components, chassis, heat sinks, electric motors, and cooling systems, is acting as another growth-inducing factor. Furthermore, the growing product demand in the construction industry to manufacture windows, doors, curtain wall systems, plumbing pipes and fittings, roofing and shielding components, and structural materials, such as beams and columns, is providing a thrust to the market growth. Additionally, the recent development of advanced surface coatings and treatments, such as electroplating, anodizing, and thin film deposition techniques, which improve corrosion and wear resistance, provide lustrous properties, and enhance the aesthetic appeal of non-ferrous metal products, is positively influencing the market growth. Besides this, the adoption of sustainable production and recycling techniques, which reduces waste generation, and improves metal recovery, is contributing to the market growth. Moreover, the rising product adoption in the electrical and electronics industry to produce wires, connectors, transformers, enclosures, switches, relays, and printed circuit boards (PCBs) is supporting the market growth. Other factors, including rapid industrialization activities, increasing investments in the development of advanced extraction techniques, and growing infrastructural development activities, are anticipated to drive the market growth.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global non-ferrous metals market, along with forecasts at the global, regional, and country levels from 2023-2028. Our report has categorized the market based on type and application.

Type Insights:

• Aluminum
• Copper
• Lead
• Tin
• Nickel
• Titanium
• Zinc
• Others
   

The report has provided a detailed breakup and analysis of the non-ferrous metals market based on the type. This includes aluminum, copper, lead, tin, nickel, titanium, zinc, and others. According to the report, aluminum represented the largest segment.

Application Insights:

• Automobile Industry
• Electronic Power Industry
• Construction Industry
• Others
   

A detailed breakup and analysis of the non-ferrous metals market based on the application has also been provided in the report. This includes automobile industry, electronic power industry, construction industry, and others. According to the report, automobile industry accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for non-ferrous metals. Some of the factors driving the Asia Pacific non-ferrous metals market included rapid industrialization, increasing infrastructural development activities, and significant technological advancements.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global non-ferrous metals market. Detailed profiles of all major companies have been provided. Some of the companies covered include Aditya Birla Group, Alcoa Corporation, Aluminum Corporation of China Limited, Anglo American plc, BHP, RUSAL (En+ Group MKPAO), Glencore Plc, Norilsk Nickel, Rio Tinto Group, Sumitomo Metal Mining Co. Ltd., Vale S.A, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Report Coverage:

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the non-ferrous metals market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global non-ferrous metals market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the non-ferrous metals industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.