The global Base Metal Mining market is forecast to reach USD 459.28 Billion by 2027, according to a new report by Reports and Data. Rising demand for smartphones, a drop in product prices, product innovation, and differentiation are some of the factors catalyzing the growth of various products in the electrical and electronics sector. The introduction of autonomous driving features in vehicles and different innovative technologies, coupled with rising demand for smartphones and computers, is driving the semiconductor industry, where base metals have a broader scope of application. Apart from silver, copper exhibits the best electrical conductivity. Its properties, such as corrosion resistance and good thermal conductivity, make it suitable for a wide range of electrical and electronics applications. As per the reports by Indian Bureau Mines, around 50.0% of copper is used in the electrical and electronics sector in the Asia Pacific, while the number stands at 25.0% in the U.S.
The growth of the construction sector in various countries can largely be attributed to continuous support schemes offered by the governments. For instance, to encourage first-time homebuyers, in 2016, Indonesia’s central bank scrapped a 15.0% minimum mortgage down payment scheme and relaxed its rule for loan disbursements. In 2019, the Indian government, in its interim budget, proposed tax benefits for buying a second house. Skim Pinjaman Perumahan (SPP) program of the Malaysian government assists low-income people in getting subsidiaries for their homes, which, in turn, is projected to drive the demand for base metals in the construction sector. Investments in smart technologies to control cost and improve efficiency are expected to remain an essential trend in the forthcoming years. The shift toward low carbon economy and strict emission regulations is anticipated to have an impact on environmental standards and lead to the scrutiny of mining activities. Automation is another critical area that is likely to help miners reduce costs by eliminating labors.
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The report further studies the significant trends and demands of the market in each key region of the market and analyzes the strategic steps and initiatives taken by the leading companies of the industry. Some of the major companies operating in the Base Metal Mining market and profiled in the report are:
Antofagasta PLC, BHP, Zijin Mining Group Co. Ltd., Freeport-McMoRan Inc., Anglo American, CODELCO, Aurubis, Norilsk Nickel, Vale, and Glencore, among others.
Further key findings from the report suggest
- Based on Product, Zinc Metal generated a revenue of USD 30.48 billion in 2019 and is projected to rise with a CAGR of 6.0% in the forecast period, owing to a wide variety of galvanizing applications from automotive and construction sectors.
- The Underground Mining Machinery is expected to grow with a CAGR of 6.9% in the forecasted period, owing to the upsurge of government support and a wide variety of applications from the construction sectors.
- The residential sector is the major contributor to the Base Metal Mining market. The residential area of the Asia Pacific region is the major shareholder of the market and held around 55.7% of the market in the year 2019, owing to a growing population, coupled with increasing housing needs.
- The Asia Pacific region dominated the market for Base Metal Mining in 2019. The region’s consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 65.0% of the market, followed by North America, which contains around 14.9% market in the year 2019.
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For the purpose of this report, Reports and Data have segmented into the global Base Metal Mining market on the basis of Product, Type, application, and region:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Aluminum
- Copper
- Zinc
- Lead
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Mineral Processing Machinery
- Crushing, Pulverizing and Screening Equipment
- Underground Mining Machinery
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Construction
- Automotive
- Electrical & Electronics
- Others
Regional Outlook (Revenue in USD Billion; 2017–2027)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Highlights of the TOC:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Base Metal Mining Market Segmentation & Impact Analysis
4.1. Base Metal Mining Market Material Segmentation Analysis
4.2. Industrial Outlook
Continue….
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The report is a qualitative and quantitative research study that offers key insights into the latest strategic steps and tactics undertaken by the industry players to gain a robust footing in the market. The report further offers strategic recommendations to the new and emerging players and established companies to help them overcome the barriers of the industry. The report also covers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the Base Metal Mining market and its competitive landscape.
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