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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Base Metal Mining Market Growth
Base metals include copper, aluminium, zinc, nickel, and others. They are less expensive metals and more common compared to precious metals. The key drivers for the market are the rising demand for base metals from the construction, electrical and electronics, and automotive sectors. Residential and non-residential construction development is planned to fuel the demand for aluminium and copper products in the Southeast Asia and other developing countries. Also, the production of electric vehicles and other commercial vehicles is expected to contribute to the market growth.
According to the base metal mining industry analysis, rising industrialisation coupled with increasing demand for copper worldwide is expected to positively impact the growth rate of the market. Further, government initiatives around pro-mining policies, coupled with an increase in disposable income, are some other market drivers.
Metals such as zinc, copper, aluminium, and lead find wide application in the electrical and electronics industry. Demand from sectors such as electronic utilities, consumer electronics, and general electronics has risen over the last decade, propelling the base metal mining demand growth.
Base Metal Mining Market Report Snapshots
Base Metal Mining Market Growth
Base Metal Mining Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 380.20 billion.
The base metal mining market is expected to grow at a CAGR of 4% between 2024 and 2032.
The major drivers of the market include the expansion of various end user verticals, surge in industrialisation, rising urbanisation, infrastructural development, increasing demand for copper, rising focus of the government on pro-mining policies and an increase in disposable income.
Key trends aiding the market expansion include the growing technological improvements including the use of robotic and remote technologies, and the growing focus on recycling and sustainable mining practices.
North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa are the significant markets for base metal mining.
The products include copper, silver, zinc, lead, nickel, and aluminium, tin, among others.
Key players in the market are Freeport-McMoRan, Inc., Antofagasta plc, Zijin Mining Group Co., Ltd., Nornickel, Glencore plc, BHP Group Limited, Rio Tinto Group, Vale, Southern Copper Corporation, Anglo American plc, Others.
The market for base metal mining is estimated to register a healthy growth in the forecast period of 2024-2032 to reach a significant value by 2032.
The strict government policies related to mining, including its negative environmental impact, and high-risk nature of mining operations are the key challenges in the industry.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach about USD 541.1 billion by 2032.
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