About Base Metals Mining
Base metals are generally defined as those with relatively low intrinsic value compared to precious metals like gold and silver. They are typically found in ores, which are rocks containing concentrated amounts of the desired metal. They are typically more abundant and have a wider range of industrial uses. The base metals mining market is positive. The continued growth in demand, coupled with technological advancements and supportive government policies, is expected to drive the market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 20.6% |
The market for base metal mining is dynamic, with continuous advancements in technology, design, and features. Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to help them improve sustenance and maintain their competitive advantages. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Base Metals Mining 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.
Glencore PLC (Switzerland), BHP Billiton (Australia), Rio Tinto (United Kingdom), Vale SA (Brazil), Anglo American plc (South Africa), Vedanta Resources Limited (India), Chinalco (China), MMG Limited (Australia), Aluminum Corporation of China (China) and Freeport-McMoRan Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are First Quantum Minerals Ltd. (Canada), Southern Copper Corporation (Peru), Teck Resources Ltd. (Canada), Glencore International Plc (Switzerland) and Hindustan Zinc Limited (India).
Segmentation Overview
AMA Research has segmented the market of Global Base Metals Mining market by Type (Surface Mining and Underground Mining), Application (Automotive, Construction, Electronics & Electrical, Aerospace and Defense, Agriculture and Others) and Region.
On the basis of geography, the market of Base Metals Mining 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, the sub-segment i.e. Iron will boost the Base Metals Mining market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Demand From Automotive Industry and Technological Advancement in Mining Equipment and Technologies
Market Growth Drivers:
Increasing Adoption of Iron Base Metal in Various Applications
Challenges:
Increasingly Stringent Environmental and Safety Regulations and Climate Change can Damage Mining Infrastructure and Disrupt Production
Restraints:
High Cost of Mining and Type of Equipment
Opportunities:
Increasing Demand in some Region Such as North America and Europe and Increasing Expansion of Electric Vehicle Car Sector
Market Leaders and their expansionary development strategies
On October 26, 2023, Rio Tinto unveiled its revolutionary aluminum smelting technology, significantly reducing carbon emissions compared to traditional methods. This breakthrough could reshape the aluminum industry towards sustainability.
On November 8, 2023, Glencore announced the launch of its first cobalt cathode precursor production facility. This move strengthens Glencore's position in the battery materials supply chain and caters to the growing demand for high-performance battery materials.
Key Target Audience
Government Bodies and Regulatory, Mining Companies, Potential Investors, Research Organization, Share Holders 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.