The global nonferrous metal production and processing market is expected to grow from $1.06 trillion in 2021 to $1.19 trillion in 2022 at a compound annual growth rate (CAGR) of 11.8%. The nonferrous metal production and processing market is expected to grow to $1.49 trillion in 2026 at a CAGR of 5.9%.
What is the Global Nonferrous Metal Production And Processing Market?
The nonferrous metal production and processing market consist of sales of 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.
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What drives the Global Nonferrous Metal Production And Processing Market?
Global metals companies are adopting and implementing IoT technology to improve their efficiencies and drive productivity. IoT connects people, machines, and services enabling the flow of information and real-time decisions. IoT technology offers benefits such as increased asset uptime, efficient predictive maintenance and faster processing and delivery time. According to KPMG, 72% of executives of global metals companies are willing to invest in IoT technologies. The growing adoption of IoT technology by global metals companies is expected to drive the productivity and growth of this industry.
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Global Nonferrous Metal Production And Processing Market Segments
The global nonferrous metal production and processing market is segmented:
By Type: Nonferrous Metal (except Aluminum) Smelting and Refining, Copper Rolling, Drawing, Extruding, and Alloying, Nonferrous Metal (except Copper and Aluminum) Rolling, Drawing, and Extruding, Secondary Smelting, Refining, and Alloying of Nonferrous Metal (except Copper and Aluminum)
By Process Type: Smelting and Refining, Rolling, Drawing, Extruding, Alloying, Others
By End-User Industry: Automotive, Electronic Power, Construction, Others
By Geography: The regions covered in the nonferrous metal production and processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Nonferrous Metal Production And Processing Global Market Report 2022provides market size and growth forecasts for the global nonferrous metal production and processing market, global nonferrous metal production and processing market share, nonferrous metal production and processing market segments and geographies, nonferrous metal production and processing market competitive landscape including leading competitors’ revenues, profiles and market shares. The nonferrous metal production and processing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
Global Nonferrous Metal Production And Processing Industry Playersinclude Aluminum Corp. of China Ltd, Vale S.A, Rio Tinto plc, Anglo American plc, and BHP Billiton plc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.
