Processed Nonferrous Metal Market 2024 : Industry Analysis, Trends, Segmentation, Regional Overview And Forecast 2033

Posted by Amruta Pritam on March 17th, 2024

The Processed Nonferrous Metal Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Processed Nonferrous Metal Global Market Report 2024, The processed nonferrous metal market size has grown steadily in recent years. It will grow from 28.75 billion in 2023 to 98.92 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The  growth in the historic period can be attributed to automotive industry demand, electronics and electrical appliances, aerospace and aviation sector, construction and infrastructure projects, renewable energy applications.

The processed nonferrous metal market size is expected to see steady growth in the next few years. It will grow to 51.73 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The growth in the forecast period can be attributed to energy storage solutions, urbanization and smart cities, sustainable manufacturing practices, supply chain resilience, advancements in material science. Major trends in the forecast period include rise of 5g technology, technological advances in metal processing, advancements in lightweight alloys, increasing use in electronics, recycling initiatives.

Rapidly growing urban populations are expected to drive the demand for processed nonferrous metal market in the forecast period. As urban populations grow rapidly, there is an increased need for the construction of new buildings, infrastructure, and transportation systems to accommodate the rising number of residents. processed nonferrous metal are essential in construction for applications such as wiring, plumbing, roofing, and structural components. For instance, in April 2022, according to the World Economic Forum, a Switzerland-based independent international organization, more than 4.3 billion people, or 55% of the world’s population, lived in urban settings, and the number is expected to rise to 80% by 2050.  Therefore, growing urban populations are driving the demand for processed nonferrous metal market.

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The processed nonferrous metal market covered in this report is segmented –

1) By Type: Smelted and Refined Nonferrous Metal (except Aluminum), Rolled, Extruded and Alloyed Copper, Rolled and Extruded Nonferrous Metal (except Copper and Aluminum), Secondary Smelted, Refined and Alloyed Nonferrous Metal (except Copper and Aluminum)       

2) By Process Type: Smelting and Refining, Rolling, Drawing, Extruding, Alloying, Other Process Types   

3) By End User Industry: Automotive, Electronic Power, Construction, Other End User Industries        

Major companies operating in the processed nonferrous metal market are developing new products such as pure copper powder to meet larger customer bases, more sales, and increase revenue. Pure copper powder refers to a fine, dry, and finely divided form of copper that consists of almost entirely copper atoms. For instance, in February 2021, Digital Metal, a Sweden-based provider of 3D metal printers for additive manufacturing, launched DM Cu, a new pure copper powder for use with its 3D printing binder jet technique. Users of the DM P2500 3D printer is going to be able to 3D print components made of 99.9% pure copper on the factory floor. The substance is renowned for having exceptional thermal conductivity, making it the material of choice for all heat-transfer devices, including heat exchangers, pipelines, and heat sinks for electronics and motors. Additionally, copper has antimicrobial qualities that bring up new possibilities for 3D printing medicinal equipment.

The processed nonferrous metal market report table of contents includes:

1. Executive Summary

2. Market Characteristics

3. Market Trends And Strategies

4. Impact Of COVID-19

5. Market Size And Growth

6. Segmentation

7. Regional And Country Analysis

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27. Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis

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