Global Base Metals Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Base Metals Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Global Base Metals Market is projected to register a CAGR of around 5% during the forecast period (2021-2026).

Companies Mentioned

• Alcoa Corporation
• Anglo American plc
• BHP
• Jiangxi Copper Corporation Limited
• Freeport-McMoRan
• Glencore
• Lundin Mining Corporation
• Rio Tinto
• Vale
• Vedanta Resources Limited

Key Market Trends

Growing Demand from the Construction Industry

• Chosen for their durability and strength, base metals used in the construction industry serve a wide range of functions. The most common of them are aluminum and copper.
• Aluminum is commonly used in the construction industry because it is resistant to corrosion, highly conductive, and ductile. Due to its resistance to harsh weather, the metal is used in windows, doors, and wire, as well as outdoor signage and street lights. The metal is processed into sheets, tubes, and castings. HVAC ducts, roofs, walling, and handles are made of aluminum. Furthermore, they are frequently found in the construction industry.
• Copper-based tubing is often used to construct pipes in buildings. Copper is a ductile and malleable metal, and it is resistant to corrosion from water and soil. It is also recyclable. Copper tubing is easily soldered, forming lasting bonds. All of these properties make this metal ideal for piping and tubing. Rigid copper tubing is ideal for hot and cold tap water pipes in buildings, while soft copper tubing is frequently used to make refrigerant lines in HVAC systems and heat pumps.
• The Asia-Pacific region will continue to account for the largest share of the global construction industry, indicating the largest consuming region for base metals. However, the pace of growth will slow, given the slowdown due to the COVID-19 pandemic.
• China is in the midst of a construction mega-boom. The country has the largest building market in the world, making up 20% of all construction investment globally. The country alone is expected to spend nearly USD 13 trillion on buildings by 2030.
• In India, Foreign Direct Investment (FDI) received in the construction development sector (townships, housing, built-up infrastructure, and construction development projects) from April 2000 to December 2019 stood at USD 25.37 billion, according to the Department for Promotion of Industry and Internal Trade (DPIIT).

Asia-Pacific Region to Dominate the Market

• The Asia-Pacific region is projected to be the largest market for base metals during the forecast period. The increasing investments in the construction industry, rising electrical and electronics production, and surging demand for heavy equipment, with multinational companies investing in the industrial sector, are some of the major factors driving the demand for base metals in the region.
• China emerged as the largest construction market in the world. As the government planned to focus on improving the infrastructure in small and medium-sized cities, the construction industry was projected to maintain a continuous growth of around 5%, annually. The country is investing USD 1.43 trillion in the next five year till 2025, in major construction projects. According to National Development and Reform Commission (NDRC), Shanghai plan includes the investment of USD 38.7 billion in next three years, whereas Guangzhou has signed 16 new infrastructure projects with and investment of USD 8.09 billion.
• Demographics in China is expected to continue to spur the growth in residential construction. Rising household income levels combined with population migrating from rural to urban areas is expected to continue to drive demand for residential construction sector in the country.
• China is also the largest manufacturer of automobiles in the world. Even though the Chinese automotive market declined in 2019, the electric vehicle segment witnessed huge growth. In April 2020, the Ministry of Finance of the People's Republic of China has issued a notice on ways to promote financial subsidies for new electric vehicles. It stated that new EVs purchased between January 1, 2021, and December 31, 2022, would be exempted from vehicle purchase tax.
• India, has been largest market for automobile industry. However, the recent decline in the automotive industry may hinder the market in the country. According to OICA, in India, the total number of vehicles produced in the year 2019 was around 4.5 million and the total number of vehicles sold was around 3.8 million. In 2020, the production declined abot 25% to 3.4 million. Simiraly, sales declined about 23% to 2.9 million over previous year.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Drivers

4.1.1 Growing Demand from the Construction Industry

4.1.2 Other Drivers

4.2 Restraints

4.2.1 Stringent Regulations associated with Mining

4.2.2 Negative Impact of COVID-19 Pandemic

4.3 Industry Value Chain Analysis

4.4 Porter's Five Forces Analysis

5 MARKET SEGMENTATION (Market Size by Volume)

5.1 Type

5.2 End-user Industry

5.3 Geography

6 COMPETITIVE LANDSCAPE

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

7.1 Increasing Demand from Electric Vehicle (EV) Production Sector

7.2 Other Opportunities

For more information about this report visit https://www.researchandmarkets.com/r/v9291s