IMARC Group, a leading market research company, has recently releases report titled, “Metal & Metal Manufactured Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global metal & metal manufactured products market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the metal & metal manufactured products market?
|Market Size in 2022||US$ 12.57 Trillion|
|Market Forecast in 2028||US$ 17.34 Trillion|
|Growth rate (2023 to 2028)||CAGR of 5.42%|
|Base Year of the Analysis||2022|
What is metal & metal manufactured products?
Metal is a naturally occurring inorganic substance commonly found in a free state or as ores in the earth’s crust. It includes silver, copper, platinum, iron, gold, cobalt, zinc, sodium, potassium, and calcium. On the other hand, metal-manufactured products are produced by cutting and shaping metals through forging, stamping, welding, bending, machining, notching, and shearing. They are widely used in cutlery, windows, doors, pipes, structural materials, tools, bolts, cans, electronic appliances, vehicle parts, and surgical equipment. They are ecological, strong, durable, lustrous, opaque, cost-effective, easy to reuse, recycle, and process, and provide excellent electrical and thermal conductivity. Nowadays, metal and metal-manufactured products find widespread application in the manufacturing, healthcare, electronics, automotive, power generation, aerospace, and defense sectors.
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What are the growth prospects and trends in the metal & metal manufactured products industry?
The market is primarily driven by the increasing utilization of metal and metal-manufactured products in the automotive industry due to the rigidity of the product, strength, and ability to mold into complex designs that improve vehicle safety, reduce maintenance costs, and enhance performance. It is widely used for engine parts, transmission components, frames, reflectors, axles, suspension systems, body panels, wheels, and doors. In addition, the widespread adoption of advanced lightweight metals in vehicle production to increase structural efficiency, minimize emissions, and improve economies is contributing to market growth. Moreover, the emergence of three-dimensional (3D) printing technology offers design freedom, reduces production costs, and improves efficiency while enhancing performance and strength, represents another major growth-inducing factor. Besides this, the rising product demand in the aerospace and defense sector to manufacture satellites, helicopters, tanks, space shuttles, rockets, drones, and aircraft is providing a positive thrust to market growth. Furthermore, the significant expansion in the construction and healthcare industry and extensive investment in infrastructure development activities are propelling the market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Wires and Cables
- Jewelry and Ornaments
- Bars and Rebars
- Pipe Fixtures and Fittings
- Molded Components
- Paints and Coatings
Metal Type Insights:
End Use Industry Insights:
- Automotive and Transportation
- Aerospace and Defense
- Consumer Goods
- Electrical and Electronics
- Energy and Power
Breakup by Region:
- North America
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- All Metal Sales Inc.
- Anglo American plc
- Asarco LLC (Americas Mining Corporation)
- Broder Metals Group Ltd.
- CMOC Group Limited
- Hochschild Mining plc
- Indium Corporation
- Interstate Metal Inc.
- Newmont Corporation
- Proterial Ltd.
- Rio Tinto Group (Rio Tinto International Holdings Limited)
- Sierra Metals Inc.
- Talco Aluminium Company, etc.
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