Metal and Mineral Industry Analysis 2023-2032: Steady Expansion Driven by More Stable Metal Price Trends, By The Global Market Model From TBRC

25 August 2023

The Global Market Model, The Business Research Company's flagship product, is the world's most comprehensive database of integrated market information. Forecasts for over 7000 markets undergo biannual updates grounded in economic, geopolitical, and sector-specific dynamics.

The current projection for the metal and mineral sector, formulated in June 2023, imparts the following pivotal insights about the industry:

• What is the valuation of the metal and mineral industry, and what factors exert significant influence?

In 2022, the global metal and mineral market attained a worth of $7453.9 billion, constituting 7.4% of the global GDP. Foreseen expansion in this market rests on a compounded annual growth rate (CAGR) of 5.1% from 2022 to 2032. Factors such as the augmented adoption of aluminum as a cost-effective lightweight alternative and the soaring demand for copper from end-user sectors are poised to fuel market growth throughout the predictive period.

• Primary segments within the metal and mineral domain, along with preeminent regions

The metal market stood as the most substantial segment within the metal and mineral arena, commanding 52.5% of the total share in 2022. China held a foremost position in the metal and mineral market, claiming 28.2% of the overall share in 2022.

• In-depth analysis and projection for the metals and mining industry spanning 2022 to 2032

The most recent projection underscores stability, closely aligning with the preceding update in 2022. Variables such as elevated inflation, economic challenges, consequences of the Russia-Ukraine conflict, and escalation in raw material costs due to disruptions in supply chains were duly accounted for in the earlier update. Anticipated long-term price stabilization, coupled with the gradual easing of supply chain constraints, were also integrated into the previous projection. As a result, our forecasts for this market remain resolute and unwavering throughout this update cycle.

Gain more insights into the metal and mineral industry trends with a free consultation:

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For further in-depth analysis, the Global Market Model offers insights on the following key industry indicators for the metals and mining companies–

  • Number of enterprises
  • Number of employees

Utilize the Global Market Model to gain essential insights into the metal and mineral industry. We're here to address your specific requirements - https://www.thebusinessresearchcompany.com/global-market-model/demo-request

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Source: prnewswire.com