The ‘Global Metal and Metal Manufactured Products Market Size, Share, Analysis, Report and Forecast 2024-2032″, by Expert Market Research gives an extensive outlook of the global metal and metal manufactured products market, assessing the market on the basis of its segments like products, metals, end uses, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Metal and Metal Manufactured Products Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2032)
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- Historical Market Size (2023): Around USD 12.07 Billion
- Forecast CAGR (2024-2032): 5%
- Forecast Market Size (2032): Approximately USD 16.17 Billion
Metals and metal manufactured products are the building blocks of an economy. They are crucial materials used in manufacturing different machinery and are extensively utilised in various end-use sectors like power and energy, automotive, and construction, among others. Moreover, the global metal and metal manufactured products market demand is being aided by the growing environmental consciousness and the increasing demand for recycled metals.
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Rapid technological advancements in the field of metal procurement and processing to meet the increasing demand for lightweight and strong metals are aiding the market growth. The growing popularity of additive manufacturing processes, which is a computer-controlled method of processing a three-dimensional product using the provided material, is also boosting the manufacturing of metals with enhanced functionality and properties.
Along with this, market players are attempting to incorporate machine learning and sensors at metal mining sites to detect the position, quantity, and depth of minerals and reduce the requirement for manual labour.
The growing automotive sector is one of the major factors contributing to the growth of the global metal and metal manufactured products market. Metal and metal manufactured products are widely used in the automotive sector to make parts like body panels, suspension systems, and engine parts, among others. Steel, aluminium, and magnesium are some metals that are widely used in the automobile sector due to their low cost and high safety.
Metal and Metal Manufactured Products Industry Definition and Major Segments
Metals are important and reusable materials that are typically ductile, lustrous, malleable, and can conduct electricity and heat. Metals have high density, and they are an important component in various sectors. They are shaped, combined, or processed to create metal manufactured products.
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By product, the metal and metal manufactured products market is divided into:
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- Wires and Cables
- Jewellery and Ornaments
- Bars and Rebar
- Sheets
- Rolls
- Pipe Fixtures and Fittings
- Pipes
- Moulded Components
- Batteries
- Paints and Coatings
- Others
Based on metal, the market is categorised into:
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- Lithium
- Magnesium
- Aluminium
- Chromium
- Manganese
- Iron
- Cobalt
- Copper
- Zinc
- Molybdenum
- Gold
- Bismuth
- Lead
- Silver
- Others
By end use, the market is segmented into:
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- Automotive and Transportation
- Aerospace and Defence
- Marine
- Consumer Goods
- Electrical and Electronics
- Manufacturing
- Energy and Power
- Construction
- Packaging
- Pharmaceuticals
- Others
The major regional markets of metal and metal-manufactured products include:
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- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Metal and Metal Manufactured Products Market Trends
Iron holds a significant share of the global metal and metal manufactured products market as it is extensively used in the manufacturing of products like utensils, cookware, and equipment, among others. During the forecast period, the demand for iron is projected to grow steadily due to the robust growth of the construction sector and growing economies. Meanwhile, magnesium is expected to show robust growth during the forecast period due to its enhanced stiffness, lightweight, and excellent strength-to-weight ratio.
Metal manufacturers are increasingly initiating research and development activities to add functional properties to the products. Furthermore, the transition to clean energy, the increasing demand for solar panels, and the growing popularity of electric vehicles are expected to positively impact the demand for metal and metal manufactured products in the forecast period.
Regionally, the Asia-Pacific is expected to grow at a healthy pace during the forecast period, owing to the rising metal manufacturing in the region. This, coupled with the increasing production of automobiles and communication solutions, among others, is anticipated to fuel the overall metal and metal manufactured products market expansion in the coming years.
Key Market Players
The major players in the global metal and metal manufactured products market report are ALL METAL SALES, INC., Asarco (Grupo Mexico), Hochschild Mining PLC, Proterial, Ltd., Rio Tinto, Broder Metals Group Ltd, CMOC Group Limited, Interstate Metal Inc., Newmont Corporation, Anglo American plc, Sierra Metals Inc., and Talco Aluminium Company, among others.
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquistions, among other latest developments of these market players.
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