Copper, Nickel, Lead, and Zinc Market Report 2026

The copper, nickel, lead, and zinc market size has grown strongly in recent years. It will grow from $176.6 billion in 2025 to $191.78 billion in 2026 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to expansion of infrastructure construction activities, growth of industrial manufacturing output, increasing demand for base metals in transport systems, availability of diversified mineral resources, expansion of metal refining operations.

The copper, nickel, lead, and zinc market size is expected to see rapid growth in the next few years. It will grow to $282.74 billion in 2030 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to rising demand from electric vehicle and battery manufacturing, increasing investments in sustainable mining technologies, expansion of circular economy metal recycling, growing demand for corrosion-resistant alloys, rising focus on supply chain security. Major trends in the forecast period include increasing demand for multi-metal supply integration, rising focus on strategic base metal mining, expansion of alloy production capabilities, growing adoption of sustainable mining practices, enhanced emphasis on metal recycling.

The growing adoption of electric vehicles is expected to drive the growth of the copper, nickel, lead, and zinc market going forward. An electric vehicle is a car powered by electricity stored in rechargeable batteries, eliminating the need for conventional internal combustion engines that run on gasoline or diesel. Copper, nickel, and zinc are essential in electric vehicle batteries, with copper used in wiring, nickel in cathodes to enhance energy density, and zinc in zinc-air batteries for potential advancements in charging infrastructure. For instance, in May 2025, according to the International Energy Agency (IEA), a Paris-based global energy authority, global electric car sales surpassed 17 million units in 2024, representing over 20% of all new cars sold worldwide. Therefore, the rising adoption of electric vehicles is fueling the growth of the copper, nickel, lead, and zinc market.

Major companies in the copper, nickel, lead, and zinc market are focusing on developing advanced energy storage solutions, such as zinc-based batteries, to improve efficiency, sustainability, and safety in electric vehicle and grid storage applications. Zinc-based batteries are emerging energy storage technologies that use zinc to provide cost-effective, environmentally friendly, and safe power solutions, meeting the growing demand for clean energy. For instance, in May 2025, Hindustan Zinc Limited, an India-based integrated zinc and base metals producer, advanced research on next-generation zinc-based battery technologies through collaborations with Indian research institutions, including the Indian Institute of Technology Madras (IIT M) and the Jawaharlal Nehru Centre for Advanced Scientific Research (JNCASR). These efforts aim to enhance energy efficiency, operational lifespan, and safety of zinc battery systems, highlighting the increasing market focus on sustainable energy storage solutions.

In May 2025, Harmony Gold Mining Company Limited, a South Africa-based gold and base metals company, acquired MAC Copper Limited for approximately US$1.03 billion. Through this acquisition, Harmony Gold seeks to strengthen its presence in the copper market by incorporating MAC Copper’s CSA Copper Mine in Australia into its operations, thereby enhancing its resource base and future copper production capacity. MAC Copper Limited is an Australia-based copper mining company focused on the exploration and production of copper assets.

Major companies operating in the copper, nickel, lead, and zinc market are Corporacion Nacional del Cobre de Chile, BHP Group, Glencore International, Jiangxi Copper Company Limited, Anglo American plc, Southern Copper Corp, Vedanta Resources Limited, Teck Resources Limited, Votorantim S.A, MMC Norilsk Nickel PJSC, Vale SA, Hudbay Minerals Inc., Lundin Mining Corporation, First Quantum Minerals Ltd., KGHM Polska Miedz SA, Grupo Mexico S.A.B. de C.V., Nyrstar NV, MMG Limited, Trevali Mining Corporation, Nevsun Resources Ltd., Polymetal International plc, Sandfire Resources NL, Independence Group NL, Heron Resources Limited, Rio Tinto Group, Zijin Mining Group Co. Ltd., China Molybdenum Co. Ltd.

Asia-Pacific was the largest region in the copper, nickel, lead, and zinc market in 2025. North America was the second largest region in the copper, nickel, lead, and zinc market. The regions covered in the copper, nickel, lead, and zinc market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the copper, nickel, lead, and zinc market report are China, India, Japan, Australia, Indonesia, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, Taiwan, New Zealand, UK, Germany, France, Italy, Spain, Austria, Belgium, Denmark, Finland, Ireland, Netherlands, Norway, Portugal, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.

The copper, nickel, lead and zinc market consist of sales of copper, nickel, lead and zinc ores. The industry includes establishments that develop mine sites, mine and convert ores into copper, nickel, lead or zinc concentrates. Mining is either through underground or surface mining techniques or both. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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