Processed Nonferrous Metal Global Market Report 2024

The processed nonferrous metal market size has grown steadily in recent years. It will grow from $1528.75 billion in 2023 to $1598.92 billion in 2024 at a compound annual growth rate (CAGR) of 4.6%. The expansion observed in the historical period can be ascribed to the demand from the automotive industry, electronics and electrical appliances sector, aerospace and aviation sector, as well as construction and infrastructure projects, along with applications in renewable energy.

The processed nonferrous metal market size is expected to see steady growth in the next few years. It will grow to $1851.73 billion in 2028 at a compound annual growth rate (CAGR) of 3.7%. The anticipated expansion in the forecast period is linked to the adoption of energy storage solutions, the trend towards urbanization and smart cities, the promotion of sustainable manufacturing practices, the emphasis on supply chain resilience, and advancements in material science. Notable trends expected in the forecast period encompass the rise of 5G technology, technological progress in metal processing, developments in lightweight alloys, the growing utilization in electronics, and initiatives focused on recycling.

The projected rise in urban populations is expected to drive the demand for the processed nonferrous metal market in the forecast period. The rapid growth of urban populations necessitates the construction of new buildings, infrastructure, and transportation systems to accommodate the increasing number of residents. Processed nonferrous metals play a crucial role in construction applications such as wiring, plumbing, roofing, and structural components. As of April 2022, more than 4.3 billion people, accounting for 55% of the global population, resided in urban areas, with projections indicating a rise to 80% by 2050, according to the World Economic Forum. Hence, the growing urban populations are a key driver for the demand in the processed nonferrous metal market.

The introduction of new products and market growth is expected to impact the supply chain operations of the nonferrous metal production and processing market during the forecast period. An inherent challenge is the uncertainty surrounding the ability of raw material suppliers to meet market demand. Moving forward, prolonged delays and unproductive downtime in manufacturing facilities due to a lack of supply chain visibility will remain a significant hurdle for metal and mineral manufacturers. A KPMG survey revealed that only 17% of companies have 'complete visibility of their suppliers.' Poor supply could lead to an inability to meet market demand, thereby restricting the industry's growth.

Additive manufacturing (AM) is becoming increasingly prevalent in the production of various metal products. The shift of additive manufacturing from a tool for product development to a production tool has been swift. Greater investment in metal additive manufacturing (AM) technology is contributing to process enhancements and lower production costs in related manufacturing industries. In March 2023, according to a report by Nanjixiong, a China-based additive manufacturing (AM) portal, venture capital funds invested $930 million in additive manufacturing (AM) startups in China in 2022, with $370 million, or 40% of the total, directed towards metal additive manufacturing (AM) businesses.

Prominent companies in the processed nonferrous metal market are innovating by introducing new products such as pure copper powder to cater to expanded customer bases, drive higher sales, and boost overall revenue. Pure copper powder is characterized as a fine, dry, and finely divided form of copper composed almost entirely of copper atoms. For example, in February 2021, Digital Metal, a Sweden-based provider of 3D metal printers for additive manufacturing, unveiled DM Cu, a novel pure copper powder designed for use with its 3D printing binder jet technique. Utilizing the DM P2500 3D printer, users can now manufacture components made of 99.9% pure copper directly on the factory floor. Recognized for its exceptional thermal conductivity, copper is an ideal material for various heat-transfer applications, including heat exchangers, pipelines, and heat sinks for electronics and motors. Additionally, the antimicrobial properties of copper open up new possibilities for 3D printing medical equipment.

Major companies in the processed nonferrous metal market are pioneering new products such as pure copper powder to broaden their customer base, enhance sales, and drive revenue growth. Pure copper powder, a fine, dry, and finely divided form of copper primarily composed of copper atoms, was introduced by Infinite Flex, a Germany-based manufacturer of smart materials, in January 2022. Infinite Powder Cu 01, the first pure copper powder for selective laser melting (SLM) 3D printing, boasts unique properties such as a tensile strength exceeding 220MPa, an elongation of 24%, and the ability to produce high-density parts (>99.9%). Through this recent offering, Infinite Flex aims to tap into a new market for high-performance 3D printing products, including heat exchangers, induction coils, and electronic components.


Major companies operating in the processed nonferrous metal market report are ExxonMobil Corporation, Glencore PLC, BASF SE, Toyota Tsusho Corporation, Jiangxi Copper Company, The Dow Chemical Company, SABIC (Saudi Basic Industries Corporation), LyondellBasell Industries N.V., ThyssenKrupp AG, LG Chem Ltd., Mitsubishi Chemical Holdings Corporation, Freeport-McMoRan Inc., Asahi Kasei Corporation, Evonik Industries AG, Covestro AG, MMC Norilsk Nickel PJSCm, Mitsubishi Materials Corporation, Grupo Mexico S.A.B. de C.V., DuPont de Nemours Inc., Sumitomo Metal Mining Co. Ltd., Eastman Chemical Company, Formosa Plastics Corporation, Sims Metal Management, JXTG Holdings Inc., Elemental Holding S.A., Triple M Metal, Tom Martin & Company Ltd., Baylis Automotive (Smethwick) Ltd., CAMX Power LLC, Magnapower Equipment Ltd.

The Asia-Pacific was the largest region in the processed nonferrous metal market in 2023. Western Europe was the second-largest region in the processed nonferrous metal market. The regions covered in the processed nonferrous metal market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the processed nonferrous metal market report are Australia; China; India; Indonesia; Japan; South Korea; Bangladesh; Thailand; Vietnam; Malaysia; Singapore; Philippines; Hong Kong; New Zealand; USA; Canada; Mexico; Brazil; Chile; Argentina; Colombia; Peru; France; Germany; UK; Austria; Belgium; Denmark; Finland; Ireland; Italy; Netherlands; Norway; Portugal; Spain; Sweden; Switzerland; Russia; Czech Republic; Poland; Romania; Ukraine; Saudi Arabia; Israel; Iran; Turkey; UAE; Egypt; Nigeria; South Africa.

The primary categories of processed nonferrous metals include smelted and refined nonferrous metals (excluding aluminum), rolled, extruded, and alloyed copper, rolled and extruded nonferrous metals (excluding copper and aluminum), and secondary smelted, refined, and alloyed nonferrous metals (excluding copper and aluminum). Rolled processed non-ferrous metals undergo rolling at specific temperatures and involve metal casting. Various process types such as smelting and refining, rolling, drawing, extruding, alloying, and others are utilized in automotive, electronic power, construction, and various other end-user applications.

The processed nonferrous metal market research report is one of a series of new reports that provides processed nonferrous metal market statistics, including processed nonferrous metal industry global market size, regional shares, competitors with a processed nonferrous metal market share, detailed processed nonferrous metal market segments, market trends and opportunities, and any further data you may need to thrive in the processed nonferrous metal industry. This processed nonferrous metal market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The processed nonferrous metal market consists of sales of lithium, copper, lead, tin, titanium, and zinc. 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.