Market Size of Base Metals Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 132.13 Million tons |
| Market Volume (2029) | 158.60 Million tons |
| CAGR (2024 - 2029) | 3.72 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Base Metals Market Analysis
The Base Metals Market size is estimated at 132.13 Million tons in 2024, and is expected to reach 158.60 Million tons by 2029, growing at a CAGR of 3.72% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
- Over the medium term, the major factor driving the growth of the market studied is the increasing demand from the construction industry.
- On the flip side, the increasing emission of greenhouse gases during the processing of base metals and the manufacturing of products using base metals is expected to hinder the growth of the market studied.
- However, increasing demand from the electric vehicle (EV) production sector is anticipated to provide numerous opportunities over the forecast period.
- The Asia-Pacific region is expected to dominate the market, with the largest consumption from China, India and Japan.
