The processed nonferrous metal market consists of sales of processed nonferrous metals by entities (organizations, sole traders and partnerships) primarily engaged in smelting ores into nonferrous metals and/or the primary refining of nonferrous metals (except aluminum) by electrolytic methods or other processes. The processed nonferrous metal market is segmented into smelted and refined nonferrous metal (except aluminum); rolled, extruded and alloyed copper; rolled and extruded nonferrous metal (except copper and aluminum); and secondary smelted, refined and alloyed nonferrous metal (except copper and aluminum).
The global processed nonferrous metal market is expected to grow from $1216.94 billion in 2020 to $1263.62 billion in 2021 at a compound annual growth rate (CAGR) of 3.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1611.83 billion in 2025 at a CAGR of 6%.