Metal and Mineral Market Report 2026

The metal and mineral market size has grown steadily in recent years. It will grow from $8.03 trillion in 2025 to $8.32 trillion in 2026 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to growth of infrastructure and construction activities, expansion of metallurgy and metal processing industries, increasing demand from chemical manufacturing, rising use of metals in vehicle production, development of large-scale mining and smelting operations.

The metal and mineral market size is expected to see steady growth in the next few years. It will grow to $9.96 trillion in 2030 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to growth in electric grid and renewable energy infrastructure, rising demand for non-ferrous and precious metals, expansion of electric vehicle manufacturing, increasing use of advanced metal products in electronics, growing focus on resource efficiency and recycling. Major trends in the forecast period include rising demand for industrial and construction minerals, increasing use of recycled metals and scrap processing, growth in high-purity metals for electronics and grid infrastructure, expansion of advanced smelting and electrometallurgical techniques, rising consumption of specialty metal products across manufacturing.

The fast growth of the construction industry is anticipated to drive the expansion of the metal and mineral market in the years ahead. The construction industry encompasses a broad sector involving various activities related to infrastructure development, repair, renovation, and maintenance. Metals and minerals commonly used in construction include steel, limestone, dolomite, calcite, copper, aluminum, zinc, and manganese. For example, in October 2023, the U.S. Census Bureau, a key agency within the United States Federal Statistics System, reported that construction spending in August 2023 was projected at $1.98 trillion, representing a 0.5% (1.2%) increase compared to the revised July estimate of $1.97 trillion. Additionally, the August figure was 7.4% (1.8%) higher than the August 2022 estimate of $1.84 trillion. As a result, the rapid expansion of the construction industry is fueling growth in the metal and mineral market.

Many metal and mineral manufacturing firms are increasingly leveraging robotics and automation to enhance plant efficiency and productivity. Sensors integrated into various machines play a crucial role in acquiring valuable data, facilitating efficiency improvements, and minimizing potential breakdowns. Notably, a report by Boston Consulting Group (BCG) projects the deployment of 1.2 million industrial robots by 2025, indicating a significant uptick in the adoption of automation and robotics technology to enhance productivity and reduce production costs. According to a KPMG report, 16% of executives in global metals companies have already invested in robotics for metal manufacturing, 31% are considering potential investments in robotics for new technologies and opportunities, and 42% are willing to invest in robotics shortly. Furthermore, the report highlights that 63% of executives in metal manufacturing are contemplating investments in automation. Key players offering industrial robots to metals companies include FANUC, KUKA, ABB, and Motoman.

In March 2023, ArcelorMittal S.A., a prominent Luxembourg-based company in the metals and mining sector, successfully acquired Companhia Siderúrgica do Pecém (‘CSP’) for an approximate sum of $2.2 billion. This strategic acquisition is expected to bring substantial operational and financial advantages to ArcelorMittal S.A., along with opportunities for further expansions. These expansions include the augmentation of primary steelmaking process capacity, encompassing direct reduction iron, as well as increased rolling and polishing capacity. Additionally, the acquisition positions ArcelorMittal S.A. to potentially establish a new low-carbon steelmaking center, capitalizing on CSP's strategic location and aligning with Ceará's initiative to develop a low-cost sustainable hydrogen hub in Pecém. Companhia Siderúrgica do Pecém (‘CSP’), based in Brazil, is recognized for its manufacturing and export of steel.

Major companies operating in the metal and mineral market report are Glencore plc, ArcelorMittal S.A., Pohang Iron and Steel Company, BHP Group, Nippon Steel & Sumitomo Metal Corporation, Baoshan Iron & Steel Company Limited, Rio Tinto, China Shenhua Energy Co. Ltd., Vale S.A., China National Building Material Group Co. Ltd, Hindalco Industries Limited, Freeport-McMoRan Inc., Norsk Hydro ASA, Vedanta Limited, Teck Resources Limited, Newmont Corporation, Barrick Gold Corporation, Alcoa Corporation, Southern Copper Corporation, Anglo American Platinum Limited, Sibanye Stillwater Limited, First Quantum Minerals, Agnico Eagle Mines Limited, Gold Fields Limited, Kinross Gold Corporation, Yamana Gold Inc., Wheaton Precious Metals Corp., Pan American Silver Corp., First Majestic Silver Corp., PJSC ALROSA, Polymetal International plc, Turquoise Hill Resources Ltd., Lundin Mining Corporation, OZ Minerals Limited, Hochschild Mining plc, SSR Mining Inc., Fortescue Metals Group Limited, Kaz Minerals PLC, Mineral Resources Limited, Iamgold Corporation, Centamin plc, Sierra Metals Inc., Osisko Gold Royalties Ltd., Sandstorm Gold Ltd.

Asia-Pacific was the largest region in the metal and mineral market in 2025. Western Europe was the second-largest region in the metal and mineral market. The regions covered in the metal and mineral market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the metal and mineral market 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 metal and mineral market consists of sales of metallic minerals and non-metallic minerals. 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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