Metal And Mineral Global Market To Reach Value Of About $9 Trillion In 2025
16 Mar, 2021
The metal and mineral market consists of sales of metals and minerals by entities (organizations, sole traders and partnerships) that refine and/or smelt ferrous and nonferrous metals from ore, pig or scrap, using electrometallurgical techniques. The metal and mineral market is segmented into mineral; metal and metal products.
Global Metal And Mineral Market Size And Drivers:
The global metal and mineral market is expected to grow from $6.32 trillion in 2020 to $6.93 trillion in 2021 at a compound annual growth rate (CAGR) of 9.8%. The market is expected to reach $9.02 trillion in 2025 at a CAGR of 7%.
Rapid advances in wireless technology and miniaturization (which refers to designing smaller components for equipment) is expected to drive innovation in metal and mineral manufacturing, thus driving the market during the forecast period.
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Trends In The Global Metal And Mineral Market
Many metal and mineral manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns.
Global Metal And Mineral Market Segments:
The global metal and mineral market is further segmented based on type, distribution channel, nature and geography.
By Type: Mineral, Metal, Metal Products.
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.
By Nature: Organic, Conventional.
Subsegments Covered: Cement And Concrete Products, Glass And Glass Products, Other Non-Metallic Mineral Products, Clay Products And Refractories, Lime And Gypsum Products, Iron And Steel Mills And Ferroalloy, Processed Nonferrous Metal, Processed Alumina And Aluminum, Foundries, Steel Products, Forged And Stamped Goods, Cutlery And Hand Tools, Architectural And Structural Metals, Boiler, Tank, And Shipping Container, Hardware, Spring And Wire Products, Machine Shops, Turned Product And Screw, Nut, And Bolt, Coated, Engraved, And Heat Treated Metal Products, Metal Valves, Other Fabricated Metal Products.
By Geography: The global metal and mineral 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 and mineral market, accounting for 51% of the total market.
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Metal And Mineral Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides metal and mineral market overviews, analyzes and forecasts market size and growth for the global metal and mineral market, metal and mineral market share, metal and mineral market players, metal and mineral market segments and geographies, metal and mineral market’s leading competitors’ revenues, profiles and market shares. The metal and mineral market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.