Non-Ferrous Metals Market Overview
Product Overview and Scope of Non-Ferrous Metals Market
Non-ferrous metals are metals that do not contain iron as the main component. Unlike ferrous metals (such as steel and cast iron), which are primarily composed of iron, non-ferrous metals have different properties and uses. These metals are generally more resistant to rust and corrosion, making them suitable for various applications.
Non-ferrous metals are essential for various industries and applications, ranging from everyday consumer goods to advanced technological and industrial processes. Their unique properties and versatility make them indispensable in modern society.
Non-Ferrous Metals Market – Industry Analysis
Drivers for Non-Ferrous Metals Market: Impact Analysis
- Industrialization and Infrastructure Development augments the demand of Global Non-Ferrous Metals Market
Industrialization leads to the growth of various manufacturing industries, including automotive, aerospace, electronics, and consumer goods. These industries heavily rely on non-ferrous metals like aluminum, copper, and zinc for their properties such as lightweight, corrosion resistance, and electrical conductivity. The construction sector also requires significant amounts of non-ferrous metals for building infrastructure, including bridges, buildings, and roads.
As industrialization drives urbanization, more people move to cities and urban areas, leading to increased demand for housing and real estate development. Non-ferrous metals are crucial in constructing modern and energy-efficient buildings, which often incorporate aluminum facades, copper wiring, and other metal components.
Industrialization spurs the development of transportation networks, such as railways, highways, and airports. Non-ferrous metals play a vital role in transportation infrastructure, as they are used in railway tracks, cables, electrical systems, and structural components of vehicles and aircraft.
The growth of industrialization and urbanization leads to higher demand for electrical and electronic appliances. Non-ferrous metals like copper and aluminum are widely used in the production of wiring, motors, transformers, and various electronic components.
Restraints for Non-Ferrous Metals Market: Impact Analysis
- Price Volatility hinders market growth.
- Environmental Concerns may restrict some operations or lead to higher compliance costs
Opportunity
- Growing Renewable Energy Sector will augment the demand for the market.
- Electrification of Transportation will present the market with new opportunities
Trends
- Increasing demand for light metals, such as aluminum and magnesium, in the construction, automotive, and electrical and electronics industries
- Growing demand for non-ferrous metals in the renewable energy sector
Global Non-Ferrous Metals Revenue Market by Region (2018-2030)
Non-Ferrous Metals Market Revenue (USD Billion) Comparison by Region (2018-2030)
|
Regions |
2018 |
2022 |
2030 |
Market Share (%) 2030 |
CAGR (%) (2023-2030) |
|
North America |
xx |
xx |
xx |
xx% |
xx% |
|
Europe |
xx |
xx |
xx |
xx% |
xx% |
|
Asia Pacific |
xx |
xx |
xx |
xx% |
xx% |
|
Latin America |
xx |
xx |
xx |
xx% |
xx% |
|
Middle East & Africa |
xx |
xx |
xx |
xx% |
xx% |
|
Total |
xx |
711.02 |
xx |
xx% |
4.62% |
The Asia Pacific region is the largest market for non-ferrous metals, accounting for over 40% of the global market share in 2022. This is due to the rapid economic growth in the region, which is leading to an increase in demand for non-ferrous metals in various industries. Further, automotive industry is booming in countries like, India and China which further enhances the demand for various metals.
Global Non-Ferrous Metals Manufacturers Profiles/Analysis
BHP
BHP Company Basic Information, and Sales Area
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|
Item |
Description |
|
|
Company Name |
BHP |
|
|
Website |
www.bhp.com |
|
|
Established Date |
1885 |
|
|
Headquartered |
Australia |
|
|
Market Position/History |
On 13 August 1885, Broken Hill Proprietary Company Limited was formed. BHP opens Central Research Laboratories at Shortland, Newcastle in 1957. BHP and Esso collaborate in the successful search for oil beneath Bass Strait, Victoria in 1967. In 1970, Royal/Dutch Shell Group purchases Billiton. In 2000, BHP formally becomes BHP Limited. BHP and Billiton reach an agreement with shareholders to merge on 18 March 2001. Similarly, it Antamina Copper-Zinc mine in northern Peru achieves commercial production more than four months ahead of the original schedule in the same year. In 2005, BHP Billiton acquires Western Mining Corporation (WMC), an Australian mining and fertilizer company. In 2022, BHP unified its corporate structure under BHP Group Limited and merged BHP’s Petroleum business with Woodside to create a global top 10 independent energy company by production. Presently, the company has been developing and contributing to industries, communities, and economies around the world. |
|
|
Sales Area |
Worldwide |
|
|
Manufacturing Location |
Worldwide |
|
|
Ticker |
BHP: NYSE |
|
|
No. of Employees |
~79,471 |
|
|
Competitors |
Glencore Alcoa RUSAL Hindalco Novelis Vale Rio Tinto MMC Norilsk Nickel Anglo American |
|
|
CEO |
Mike Henry |
|
|
Ownership Type |
Public |
|
|
Contact Number |
171 Collins Street, Melbourne, Victoria 3000, Australia Tel: (61 3) 1300 55 47 57 |
Business Segment/ Overview:
BHP Group Limited operates as a resources company. It produces essential commodities through assets, including iron ore, copper, nickel, potash, and metallurgical coal.
Business Strategy
BHP's worldwide expansion strategy involves optimizing current operations, entering new markets early, mergers and acquisitions, and exploration initiatives. BHP is considering spending $30 million in South America alone to encourage copper exploration this fiscal year. It will grow value by being outstanding at operations, discovering and developing resources, purchasing the proper assets and options, and capital allocation.
