Base Metals Mining Market: Information by Metals Type (Copper, Zinc, Nickel, Aluminum), Application (Construction, Electrical & Electronics, Automotive, Medical, Consumer Goods, Others), and Region (North America, Asia-Pacific)—Forecast till 2030
ID: MRFR/CnM/6305-HCR | February 2021 | Region: Global | 140 pages
Market Synopsis:
The global base Metals mining market by volume is expected to reach 158.8 million metric tons by 2023, registering a CAGR of 5.51%. Base Metals mining is majorly used to make steel equipment such as plate, bars, rods, wire, shearing, and pipes that find applications in the manufacturing, construction, and energy industries. In the construction industry, base Metals such as aluminum, copper, and iron are used for building bridges, residential building, commercial space, airports, and railroads. They are used in manufacturing equipment, protective shields, cookware, and cutlery. Also, base Metals are used in the power and energy industry to facilitate power storage in batteries. These Metals are economical owing to abundance availability of Metals and requirement of less resources during their extraction process.
The increasing demand for base Metals mining in the construction industry is expected to drive the global market growth during the forecast period. According to the Canadian Construction Association, in 2017, the US invested around USD 896 million in the construction industry. According to the Association of Southeast Asian Nations (ASEAN), countries such as China, Japan, and South-East Asia accounted for nearly 75% of investment in real estate construction activities. Furthermore, the China National Petroleum Corporation has announced to construct oil refinery valued at USD 620 million to expand crude oil production in 2017. Moreover, Muhibbah Engineering, a Malaysia-based construction company, signed a contract to build airport terminal at Phnom Penh, Cambodia, worth USD 23 million in 2016. Thus, the increase in construction activities across the globe is positively expected to influence the demand for base Metals mining during the forecast period.
Global Base Metals Mining Market Share, by Metals Type, 2017 (%) 
Source: MRFR analysis
Regional Analysis
The global base Metals mining market is studied based on five regions Asia-Pacific, Europe, Latin America, North America, and the Middle East & Africa. The Asia-Pacific market is expected to witness significant growth at a healthy CAGR owing to an increase in demand for commercial buildings in Hong Kong, Singapore, Australia, South Korea, and Japan. Further, government support to enhance urban infrastructure with an objective to achieve sustainable economies is expected to favor the regional market growth. Likewise, rapid industrialization in the region is expected to increase the application of base Metals mining in the manufacturing industry and accelerate the regional market growth during the forecast period.
The North American and European markets are expected to witness significant growth in terms of CAGR during the review period owing to an increase in the application of base Metals mining in automobile components. According to the America Automotive Policy Council, Americans purchased over 17.4 million cars and trucks in 2016, and the number of purchases is expected to increase in coming years, which is expected to increase the adoption of base Metals in the automotive industry. Furthermore, automobile production in the US is expected to exceed 11 million per year by 2021 to reach 12 million units in 2025. Companies such as Ford, General Motors, and FAC Group invested around USD 34 billion in R&D for automobiles during 2013–2017.
In addition, the market in the Middle East & Africa is projected to witness steady growth during the forecast timeframe. Countries such as the UAE and Saudi Arabia are expected to be the leading markets for base Metals mining owing to its high application in the automobile parts, batteries, and electronic products.
Market Segmentation
The global base Metals mining market has been segmented on the basis of Metals type, application, and region. Based on Metals type, the global base Metals mining market has been segregated into zinc, copper, aluminum, nickel and lead, and iron. The aluminum is expected to be the dominant segment owing to the wide application in the construction, electronics, and automotive industries. The global market has been further divided by application into automotive, construction, electrical & electronics, and medical devices.
Key Players
Some of the prominent players in the global base Metals mining market are CODELCO (Chile), BHP Billiton Limited (Australia), Antofagasta PLC (UK), Alcoa Corporation (US), Vedanta Resources Plc (India), Freeport-McMoRan (US), Rio Tinto (UK), Norilsk Nickel (Russia), Vale S.A (Brazil), Anglo American Plc (UK), Glencore (Switzerland), Southern Copper Corporation (US), First Quantum Minerals Ltd (Canada), and United States Steel Corporation (US).
Intended Audience
- Base Metals Mining Manufacturers
- Traders and Distributors of Base Metals Mining
- Mining Industry Association
- Oil and Gas Industry
- Research and Development Institutes
- Potential Investors
- Raw Material Suppliers
- Nationalized Laboratories
Report Scope:
| Report Attribute/Metric | Details |
|---|---|
| Market Size |
|
| CAGR | 5.51% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Historical Data | 2019 & 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Metals Type, Application |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Vendors | CODELCO (Chile), BHP Billiton Limited (Australia), Antofagasta PLC (UK), Alcoa Corporation (US), Vedanta Resources Plc (India), Freeport-McMoRan (US), Rio Tinto (UK), Norilsk Nickel (Russia), Vale S.A (Brazil), Anglo American Plc (UK), Glencore (Switzerland), Southern Copper Corporation (US), First Quantum Minerals Ltd (Canada), and United States Steel Corporation (US) |
| Key Market Opportunities | The increase in construction activities across the globe is positively expected to influence the demand |
| Key Market Drivers | The increasing demand for base Metals mining in the construction industry is expected to drive the global market growth |
Frequently Asked Questions (FAQ) :
The volumetric consumption of base metals mining is projected to reach 158.8 million metric tons by 2023.
The consumption of base metals mining is expected to register 5.5% CAGR during the assessment period (2018-2023)
By metals type, the aluminum segment and by applications, the construction segment account for major shares in the global base metals mining market.
Asia Pacific holds the largest share in the global base metals mining market, followed by Europe and North America, respectively.
BHP Billiton Limited (Australia), CODELCO (Chile), Antofagasta PLC (UK), Vedanta Resources Plc. (India), Alcoa Corporation (US), Freeport-McMoRan (US), Norilsk Nickel (Russia), Rio Tinto (UK), Vale S.A (Brazil), Glencore (Switzerland), Anglo American Plc (UK), Southern Copper Corporation (US), United States Steel Corporation (US), and First Quantum Minerals Ltd. (Canada), are some of the major players operating in the base metals mining market.