Global Metal Market Trends And Strategies Of Major Players In The Metal Market 2021-2030
29 Jun, 2021
The metal market consists of sales of metals by entities (organizations, sole traders and partnerships) that operate iron and steel foundries, iron and steel mills, and/or ferroalloy manufacturing businesses; and/or entities that undertake alumina and aluminum production and processing.
Global Metal Market Size And Drivers:
The global metal market is expected to grow from $3323.02 billion in 2020 to $3543.07 billion in 2021 at a compound annual growth rate (CAGR) of 6.6%. 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 $4619.74 billion in 2025 at a CAGR of 7%. The global demand for copper is expected to increase during the forecast period, driving the driving the metal manufacturing market.
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Trends In The Global Metal Market
Automated manufacturing systems are gaining popularity as they enhance manufacturing productivity and reduce operating costs. Automation systems refers to a machine, tool or technology such as robotic and AI technology that helps to reduce human intervention and improve safety in the metal manufacturing processes such as processing, assembling, material handling. This allows metal manufacturing companies to increase efficiency and production, improve safety on the manufacturing floor, enhance product quality, perform complex and varied tasks, enhance process stability, provide flexibility to produce products and eliminate routine manual tasks.
Global Metal Market Segments:
The global metal market is further segmented based on type, end use and geography.
By Type: Iron And Steel Mills And Ferroalloy, Processed Nonferrous Metal, Processed Alumina And Aluminum, Foundries, Steel Products
By End Use: Construction, Manufacturing, Others
Sub segments Covered: Crude Steel, Pig Iron, Ferroalloys, Smelted and Refined Nonferrous Metal (except Aluminum), Rolled, Extruded And Alloyed Copper, Rolled and Extruded Nonferrous Metal (except Copper And Aluminum), Secondary Smelted, Refined And Alloyed Nonferrous Metal (except Copper And Aluminum), Aluminum Products From Purchased Aluminum, Secondary Smelted And Alloyed Aluminum, Refined Alumina And Primary Aluminum Production, Ferrous Metal Foundries, Nonferrous Metal Foundries, Iron And Steel Pipe And Tube, Rolled and Drawn Steel
By Geography: The global metal market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global metal market, accounting for 63% of the market in 2020.
Read More On The Report For The Global Metal Market At:https://www.thebusinessresearchcompany.com/report/metal-global-market-report
Metal Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides metal market overviews, analyzes and forecasts market size and growth for the global metal market, metal market share, metal market players, metal market segments and geographies, metal market’s leading competitors’ revenues, profiles and market shares. The metal market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.