How Global Metal Market Players Should Strategize For 2022-2031

The global metal market size is expected to grow from $3.64 trillion in 2021 to $3.95 trillion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The global metal market size is expected to grow to $5.31 trillion in 2026 at a CAGR of 7.7%.

What is the Global Metal Market?

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 aluminium production and processing.

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What drives the Global Metal Market?

The global demand for copper is expected to increase during the forecast period, driving the metal manufacturing market. According to a report by Fitch Solutions, global copper demand is expected to increase to 29.8 million tons by 2027, with an annual growth rate of 2.6%. Significant growth in demand for copper is expected to come from electric vehicles, appliances, air conditioners, refrigerators and other electrical and electronics products. For instance, electric vehicles require approximately 130 lb. of additional copper, compared to vehicles with an internal combustion engine. Additional demand for 600,000 tons of copper by 2027 is expected to come from electric vehicles, thereby driving the market going forward.

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Global Metal Market Segments
The global metal market is segmented:
By Type: Iron and Steel Mills and Ferroalloy, Processed Nonferrous Metal, Processed Alumina and Aluminum, Foundries, Steel Products
By Metal Type: Aluminum, Beryllium, Bismuth, Cadmium, Cerium, Chromium, Cobalt, Others
By End-User: Construction, Manufacturing, Others
By Geography: The regions covered in the metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

Metal Global Market Report 2022provides market size and growth forecasts for the global metal market, global metal market share, metal market segments and geographies, metal market competitive landscape including 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.

Global Metal Industry Playersinclude POSCO, Baoshan Iron & Steel Co.Ltd, ArcelorMittal S.A., Nippon Steel & Sumitomo Metal Corporation, Jiangxi Copper Company, JFE Holdings Inc., Glencore International, Hyundai Steel Company, Nucor Corp, and TATA Steel Group. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.