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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Base Metal Mining Market Regional Insight
Asia Pacific is expected to dominate the market for base metal mining during the forecast period. The abundant availability of raw materials is one of the major factors aiding the regional market growth. Growth and expansion of various end-user verticals such as buildings and the construction industry in the region owing to rapid infrastructural development will likely drive the market growth rate. Capacity increase in the electronics segment is expected to increase base metal mining market opportunities in the region over the coming years.
The region has provided significant opportunities for the market expansion in recent years, owing to the rapid pace of industrialisation and urbanisation. The stabilisation of economies and rising disposable incomes in developing countries such as India and China have raised the demand for new construction projects and infrastructure development operations. Furthermore, the region is progressing in industries such as transportation, manufacturing, and industrial equipment, all of which are key consumers of base metals. All these factors are anticipated to propel the growth of the market in the coming years.
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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