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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Base Metals Market Growth
Base metals are metals that corrode, tarnish, and oxidise at a fast rate when exposed to moisture or air for long periods of time. These metals are easily available in nature and are relatively inexpensive and they produce hydrogen gas when they react with dilute hydrochloric acid.
Key drivers aiding the global base metals market development include technological advancements in extraction and deep mining to meet rising demand, particularly driven by sectors like electric vehicles, solar and wind power generation, and infrastructure development. The increasing demand for renewable energy and the proliferation of electric vehicles are significant factors propelling market growth.
Moreover, the expansion of mining operations, growth in recycling efforts, and the surge in petrochemical demand from industries like construction are contributing to the market's positive trajectory. Additionally, the market is benefiting from the strong presence of the electrical & electronics industry, along with robust manufacturing capabilities, especially in regions like North America, which is expected to drive further growth in the base metals sector.
Base Metals Market Report Snapshots
Base Metals 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 base metals market reached an approximate value of USD 866.10 billion.
The market is expected to grow at a CAGR of 4.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 1,282.20 billion by 2032.
Rapid industrialisation and urbanisation, growing utilisation of base metals by various industries, and technological advancements and innovations are driving the growth of the market.
Key trends aiding market expansion include the rising construction activities, growth of the automobile industry, and rising environmental consciousness.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The various metal types in the market for base metals include copper, silver, zinc, lead, nickel, aluminium, and tin, among others.
Key players in the market are Vale S.A, Rio Tinto Ltd, Fortescue Metal Group, China Hongqiao Group Ltd, United Company RUSAL, Emirates Global Aluminium PJSC, Alcoa Corporation, Anglo American plc, Antofagasta plc, BHP Group Limited, Codelco, Freeport-McMoRan Inc., First Quantum Minerals Ltd., Glencore plc (merged with the mining company Xstrata), Jiangxi Copper Corporation, and Lundin Mining Corporation, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124