(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Jan. 13, 2025 (GLOBE NEWSWIRE) -- The "Non-Ferrous Metals market by Type, Application and Region 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The global non-ferrous metals market size reached US$ 1.13 trillion in 2023. Looking forward, the market is projected to reach US$ 1.69 trillion by 2032, exhibiting a growth rate (CAGR) of 4.6% during 2023-2032. The rising product utilization in the automotive industry, the growing product demand in the construction industry, the recent development of advanced coatings and treatments, and the adoption of sustainable production and recycling techniques represent some of the key factors driving the market.
The rising product utilization in the automotive industry is one of the primary factors providing an impetus to the market growth. Non-ferrous metals are widely used in various automotive parts, such as body panels, engine blocks, pistons, cylinder heads, wheels, wiring, radiator, transmission casing, steering, interior trim, suspension parts, exhaust systems, and catalytic converters. Along with this, the increasing product application in electric vehicles (EVs), such as battery packs, enclosures, charging components, chassis, heat sinks, electric motors, and cooling systems, is acting as another growth-inducing factor. Furthermore, the growing product demand in the construction industry to manufacture windows, doors, curtain wall systems, plumbing pipes and fittings, roofing and shielding components, and structural materials, such as beams and columns, is providing a thrust to the market growth. Additionally, the recent development of advanced surface coatings and treatments, such as electroplating, anodizing, and thin film deposition techniques, which improve corrosion and wear resistance, provide lustrous properties, and enhance the aesthetic appeal of non-ferrous metal products, is positively influencing the market growth. Besides this, the adoption of sustainable production and recycling techniques, which reduces waste generation, and improves metal recovery, is contributing to the market growth. Moreover, the rising product adoption in the electrical and electronics industry to produce wires, connectors, transformers, enclosures, switches, relays, and printed circuit boards (PCBs) is supporting the market growth.
Other factors, including rapid industrialization activities, increasing investments in the development of advanced extraction techniques, and growing infrastructural development activities, are anticipated to drive the market growth.
Market Segmentation
This report provides an analysis of the key trends in each segment of the global non-ferrous metals market, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on type and application.
Type Insights
The report has provided a detailed breakup and analysis of the non-ferrous metals market based on the type. This includes aluminum, copper, lead, tin, nickel, titanium, zinc, and others. According to the report, aluminum represented the largest segment.
Application Insights
A detailed breakup and analysis of the non-ferrous metals market based on the application has also been provided in the report. This includes automobile industry, electronic power industry, construction industry, and others. According to the report, the automobile industry accounted for the largest market share.
Regional Insights
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific was the largest market for non-ferrous metals. Some of the factors driving the Asia Pacific non-ferrous metals market included rapid industrialization, increasing infrastructural development activities, and significant technological advancements.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global non-ferrous metals market. Detailed profiles of all major companies have been provided. Some of the companies covered include Aditya Birla Group, Alcoa Corporation, Aluminum Corporation of China Limited, Anglo American plc, BHP, RUSAL (En+ Group MKPAO), Glencore PLC, Norilsk Nickel, Rio Tinto Group, Sumitomo Metal Mining Co. Ltd., Vale S.A, etc.
Key Questions Answered in This Report
1. How big is the global non-ferrous metals market?
2. What is the expected growth rate of the global non-ferrous metals market during 2024-2032?
3. What are the key factors driving the global non-ferrous metals market?
4. What has been the impact of COVID-19 on the global non-ferrous metals market?
5. What is the breakup of the global non-ferrous metals market based on the type?
6. What is the breakup of the global non-ferrous metals market based on the application?
7. What are the key regions in the global non-ferrous metals market?
8. Who are the key players/companies in the global non-ferrous metals market?
Key Attributes
| Report Attribute | Details |
| No. of Pages | 140 |
| Forecast Period | 2023-2032 |
| Estimated Market Value (USD) in 2023 | $1.13 Trillion |
| Forecasted Market Value (USD) by 2032 | $1.69 Trillion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
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Non-Ferrous Metals Market
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