About Metallurgy
Metallurgy is defined as a process that is used for the extraction of metals in their pure form. The compounds of metals mixed with soil, limestone, sand, and rocks are known as minerals. Metals are commercially extracted from minerals at low cost and minimum effort. Metallurgy deals with the process of purification of metals and the formation of alloys. The development of new materials and technologies with unique properties promises to revolutionize various industries. the mechanical properties of the metal to be determined and empowers engineers to utilize that metal for various purposes such as welding or metalworking. The metallurgy market can continue to grow and thrive the specific growth drivers will vary depending on the sub-sector and regional dynamics. However, continuous innovation, focus on sustainability, and adapting to new applications hold the key to unlocking the full potential of this versatile and vital industry.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The competitive landscape of the metallurgy market is complex and constantly evolving. Understanding the key players, their strategies, and the dynamics at play is crucial for companies to navigate this competitive environment and achieve success. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Metallurgy market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ArcelorMittal (Luxembourg), Baosteel Group (China), Albemarle Corporation (United States), Nippon Steel & Sumitomo Metal Corporation (Japan), POSCO (South Korea), Kennametal Inc. (United States), Tata Steel (India), Rio Tinto (United Kingdom), Carpenter Technology Corporation (United States) and Haganas AB (Sweden) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Allegheny Technologies Incorporated (United States), Baowu Steel Group Corp. (China), Hysco Ltd. (India), Liberty Steel Group (United Kingdom) and Glencore International Plc (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Metallurgy market by Type (Physical (Powder metallurgy, Alloying) and Extractive (Pyrometallurgy, Hydrometallurgy)), Application (Automotive Industry, Construction Industry, Aerospace, Oil and Gas Industry, Defense and Military, Medical Devices and Healthcare, Rail and Transportation and Others) and Region.
On the basis of geography, the market of Metallurgy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Metal Types, the sub-segment i.e. Iron will boost the Metallurgy market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing demand for metals produced using recycled materials
Market Growth Drivers:
Increased demand for infrastructure development, manufacturing activities and consumer goods. and Increasing focus on high-performance metals used in aerospace, medical, and energy sectors.
Challenges:
Safety Regulation and Worker safety due to hazardous material
Restraints:
Lack of Skilled Professionals.
Opportunities:
Development of new technologies like hydrometallurgy, electrowinning, and advanced purification techniques. and Implementing smart sensors, data analytics, and automation in metallurgical processes.
Market Leaders and their expansionary development strategies
In September 2023, Rio Tinto and Albemarle announced a second joint venture, this time to develop lithium recycling facilities in Europe, reducing reliance on virgin mining and promoting a circular economy in the battery industry. The Rio Tinto and Albemarle joint venture represents a promising step towards a more sustainable and circular lithium economy. By creating a viable option for battery recycling, this partnership can contribute significantly to the decarbonization of the transportation sector
In July 2023, ArcelorMittal announces the launch of new, low carbon-emissions steel tubes. This new solution, made of XCarb recycled and renewably produced steel, has up to 75% less CO2 equivalent one of the highest CO2 emissions reductions rates in the steel tube industry.
Key Target Audience
Industrial Consumer, Research and Development Institutions, Potential Investors, Market Research & Consultancy Firm and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.