Global Processed Nonferrous Metal Market Trends And Strategies Of Major Players In The Processed Nonferrous Metal Market 2021-2030
8 Feb, 2021
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).
Global Processed Nonferrous Metal Market Size And Drivers:
The global processed nonferrous metal market is expected to grow from $1.21 trillion in 2020 to $1.26 trillion 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 $1.61 trillion in 2025 at a CAGR of 6%. Rapidly growing urban populations are expected to drive the demand for non-ferrous metal products in the forecast period. A large number of people living in rural areas are migrating to urban areas in search of a better life. This is expected to increase the need for housing and infrastructure.
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Trends In The Global Processed Nonferrous Metal Market
Additive manufacturing (AM) is being widely used for manufacturing a wide range of metal products. The transition of additive manufacturing from a product development tool to production tool has been quick. Increased investment in metal AM technology is further leading to process improvements, lower productions costs in allied manufacturing industries.
Global Processed Nonferrous Metal Market Segments:
The global processed nonferrous metal market is further segmented based on type, end user industry, process type and geography.
By Type: 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).
By End User Industry: Automotive, Electronic Power, Construction, Others.
By Process Type: Smelting and Refining, Rolling, Drawing, Extruding, Alloying, Other.
By Geography: The global processed nonferrous 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 processed nonferrous metal market, accounting for 73% of the total market.
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Processed Nonferrous Metal Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides processed nonferrous metal market overviews, analyzes and forecasts market size and growth for the global processed nonferrous metal market, processed nonferrous metal market share, processed nonferrous metal market players, processed nonferrous metal market segments and geographies, processed nonferrous metal market’s leading competitors’ revenues, profiles and market shares. The processed nonferrous metal market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.