The growth of the Metal & Metal Manufactured Products Market will be
significantly dependent on the construction industry. Metal is strong solid
material highly recommended to use in the construction industry owing to its
hardness, ductility, versatility, durability, superior thermal conductivity,
malleability and good electrical conductivity. In the construction industry, metals
are used for pipework, cladding materials and structural components. Aluminum,
steel, iron, copper, brass and lead are the major types of metals used for building
and construction purposes. Steel is a significantly used construction material,
extensively used as a reinforcement for concrete. Stainless steel and
galvanized steel are also used owing to their superior corrosion resistance
property. The Metal & Metal Manufactured Products Market is predicted to
grow at a CAGR of 6.2% during the forecast period of 2022-2027 and reach the
market value of US$17.5 trillion by 2027.
Metal & Metal Manufactured Products Market: Leading Segment in Automotive
On the basis of end-use industry, the metal & metal manufactured market can be segmented into automotive, aerospace, marine, consumer goods, electrical and electronics, Energy and Power, Construction and Others. During the forecast period of 2022-2027, the automotive segment is expected to grow at a CAGR of 6.6%. This growth is mainly attributed to the metals in cars, buses, ships, trucks, airplanes and trucks. Metals are used for the manufacturing of a wide range of parts such as brakes, wheels, engines, exhaust, roofs and other vehicle parts. Steel is a widely adopted material in automotive applications as this is available in several grades as per the need of a particular part, thus, vehicle manufactures can employ more than one type of steel during the production process.
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Metal & Metal
Manufactured Products Market: Leading Region in the Asia-Pacific
On the basis of geography, the metal & metal manufactured products market can be categorized into North America, Europe, Asia-Pacific, South America and the Rest of the World. According to IndustryARC’s analysis, Asia Pacific has emerged as one of the most profitable regions in the market. The commonly used metal in several industries is aluminum, bismuth, cadmium, cobalt, iron, lithium and magnesium. In 2021, the Asia Pacific region held a market share of 44% of the overall market. The Asia Pacific comprises fast developing economies such as China, India, Indonesia and Malaysia which is supporting the market growth. Moreover, the growth of numerous end-use industries such as automotive, construction, aerospace, electrical and electronics, energy and power and consumer goods among others are further boosting the market growth.
Metal & Metal Manufactured Products Market: Competitive Landscape
The key companies holding a major share in the metal & metal manufactured products market are Hitachi Metals Ltd., Newmont Corporation, Sierra Metals Inc., Talco Aluminium Company, Steward Advanced Materials, Nucor Corporation, ArcelorMittal, Nippon Steel Corporation, Indium Corporation and Interstate Metal.
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