About Mining Metals
The mining industry contributes significantly toward the economic and industrial growth of a nation. Major mining metals include lead, copper, tin, zinc, nickel, cobalt, and aluminum. Gold, platinum, palladium, and silver are among the precious mining metals. The global mining metals market has been among the fastest-growing. Mining is one of the oldest industries on Earth. It mainly includes the exploration, production, and processing of natural resources which are located in the Earth’s crust. The most valued metals are the so-called precious metals. These include, first of all, gold, silver, and the platinum group. Gold and silver have always been signs of wealth, and still are important drivers in the financial world. Historic price developments of precious metals are among the top statistics of this branch. Less valued, but highly sought after, are the so-called base metals. Iron, lead, nickel, zinc, and copper are the best-known base metals and are utilized in everyday life. According to the Ministry of Mines, India has the 7th largest bauxite reserves - around 2,908.85 million tonnes in FY18. Aluminum production stood at 2.25 MT in FY19 (up to February 2019) and is forecasted to grow to 3.33 million tonnes in FY20.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
CAGR | 7.84% |
The key manufacturers are targeting the innovations of the products with better quality, better technical characteristics, and also assist in providing and humanizing the after-sale service to the consumers. The key players are probable to keep a stronghold on the market over the anticipated period. The key players are accepting strategic decisions and are thinking upon mergers and acquisitions in order to maintain their presence in the market Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Mining Metals 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.
Rio Tinto (United Kingdom), BHP Billiton (Australia), China Shenhua Energy (China), Vale (Brazil), Glencore Xstrata (United Kingdom), ArcelorMittal (Luxembourg), Ternium S.A (Luxembourg), Codelco (Chile), BaRRIAK Glod (Canada) and Southern Ferrous Metal (India) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Norilsk Nickel (Russia), Newmont (United States), Grupo Mexico (Mexico), Southern Copper Corporation (SCC) (United States) and Goldcorp (Canada).
Segmentation Overview
AMA Research has segmented the market of Global Mining Metals market by Type (Non-ferrous Metal , Ferrous Metal and Noble Metal), Application (Construction , Chemical Industry , Manufacturing , Medical and Others) and Region.
On the basis of geography, the market of Mining Metals 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). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Technology, the sub-segment i.e. Electrolysis will boost the Mining Metals market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Investments in the Infrastructure Sector in Developed and Developing Economies and Demand for iron and steel is set to continue, given the strong growth expectations for the residential and commercial building industry
Market Growth Drivers:
High ADoption for Power and Cement Industries from Developing Countries
Challenges:
Increased Regulatory Compliance Costs due to the Implementation of New Taxes
Restraints:
A Rise in Labor Costs associated with Mining Metals
Opportunities:
High Demand for Equipment Market
Market Leaders and their expansionary development strategies
In October 2023, The UN, heavy industry is the second-largest source of CO2 emissions, accounting for 25% of all emissions worldwide. The so-called ‘hard to abate sectors’ such as iron and steel, shipping, cement, aviation and mining, are facing even more challenges as the push to meet the promises of the 2030 Sustainable Development Agenda intensifies. This is where innovation in this industry can play a significant role, and a new partnership between UpLink and Prospect Innovation aims to accelerate the green transition in these tough-to-decarbonize sectors.
In March 2023, CharIN launches new mining taskforce in partnership with ICMM. The partnership enables ICMM to address technical bottlenecks around the interoperability of battery-electric charging systems for the roll-out of zero emission mining vehicles, expected to begin this decade.
Key Target Audience
Mining Metals Providers, Government Regulatory Bodies, Government Research Organisation, Private Research Organizations 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.