Base metals such as copper, aluminum, zinc, nickel, and lead play a major role in the development of manufacturing, utilities, infrastructure, and construction sectors. Growth across these industries directly implies the growth of the base metal mining market as well. In the past few years, developing as well as developed regions have exhibited excellent development across areas such as urbanization, industrialization, and economic development. These factors have substantially increased the global consumption of base metals, providing momentum to mining activities.
Transparency Market Research states that the market for base metal mining will witness expansion at a healthy 5.01% CAGR over the period between 2015 and 2023. Volume-wise, the market will demonstrate a vigorous rise from 103.33 MMT in 2014 to 160.19 MMT by 2023.
Increased Consumption in Power Infrastructure to Bolster Market Position of Copper
High paced development activities in the power production and distribution industry will be key to the overall global consumption of copper in the next many years. In developed regions such as Europe and North America, the urgency to replace ageing infrastructure and the need for integrating renewable power sources with conventional models will be the key demand drivers for copper. In developing regions such as Asia Pacific, the need to improve power distribution infrastructure to align it with technological advancements and rising load requirements will help increase the consumption of copper in the sector. In terms of volume, the market for copper is expected to rise at a favorable 4.30% CAGR over the period between 2015 and 2023.
Aluminum, which is presently the most widely consumed base metal, will benefit the most from its use in the automotive industry. The heightened focus of automobile companies on the development of light-weight and thus energy-efficient vehicles will be a major driver of aluminum mining activities across the globe. Aluminum held a dominant share of 53.73% in the global base metal mining market in 2014 and is expected to account for a 54.35% share in the global market in 2023.
High Pace of Industrialization and Infrastructure Development to Enable Asia Pacific Take Top Spot
Asia Pacific is presently the dominant region for the global base metal mining market. The region has presented significant growth opportunities for the market in the past few years, majorly owing to the excellent pace of industrialization and urbanization. The stabilizing economies and rising disposable incomes of the population in developing countries such as India and China have resulted in the increased demand for new construction projects and infrastructure development activities.
The region has also witnessed the increased need to improve the infrastructure of the utilities sector to support the ever rising population and heightened rate of industrialization. Additionally, the region is also advancing in sectors such as transportation, manufacturing, and industrial equipment, which are some of the major consumers of base metals. Asia Pacific accounted for nearly 63% in the global base metal mining market in 2014 and is expected to continue its dominant stance in the near future as well.
In the highly consolidated global base metal mining market, Glencore Plc. held nearly 68% share in the market in 2014. Other key vendors in the market include Freeport-McMoRan, Inc., CODELCO, BHP Billiton Limited, Antofagasta PLC, and Alcoa Inc.
This research study analyzes the market for base metal mining in terms of volume (million metric tonnes). The market has been segmented on the basis of type and region. The global base metal mining market has been segmented into five regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. For the research, 2014 has been taken as the base year, while all forecasts have been given for the period from 2015 to 2023. Market data for all the metal types has been provided at the regional as well as country-specific level from 2015 to 2023. The report provides a broad competitive analysis of companies engaged in the base metal mining business. The report also includes the key market dynamics such as drivers, restraints, and opportunities affecting the global base metal mining market. These market dynamics were analyzed in detail and are illustrated in the report with the help of supporting graphs and tables. The report also provides a comprehensive analysis of the global base metal mining market with the help of Porter’s Five Forces model. This analysis helps in understanding the five major forces that affect the market structure and market profitability. The forces analyzed are bargaining power of buyers, bargaining power of suppliers, threat of new entrants, threat of substitutes, and degree of competition.
The high-level analysis in the report provides detailed insights into the base metal mining business globally. There are currently numerous drivers of the market. One of the most prominent drivers is the rise in infrastructure development. Market attractiveness analysis was carried out for the base metal mining market on the basis of geography. Market attractiveness was estimated on the basis of common parameters that directly impact the market in different regions.
The base metal mining market was segmented on the basis of type into copper, nickel, zinc-lead, aluminum, and tin. Base metals vary according to physical properties and applications.
Aluminum held the significant market share in 2014 on account of its wide applications in various areas such as packaging, transportation, construction, consumer durables, machinery equipment, electrical systems, etc. Zinc is another most widely consumed base metal in the world due to its various physical properties such as galvanizing properties and capability of bonding with various metals. Zinc has been growing due to its anti-corrosion property which helps prevent corrosion in metals. Corrosion is a major hindrance to the base metal applications. Lead is primarily used in portable batteries, which are used in vehicles and emergency systems. Expanding portable batteries market, is driving the demand for lead. Demand for copper is projected to grow with increase in population as it would require expanding power infrastructure which is copper-intensive. Copper market would be boosted by the increase in number of infrastructure facilities such as buildings and complexes.
Nickel is used in highly-specialized sectors such as industrial, aerospace, and military. Nickel plating is one of the important industries, wherein the usage of nickel is essential; expanding nickel plating industry would boost the demand for nickel in the next few years. Utilization of tin-coated electronic components is increasing in motor vehicles, which in turn, is boosting the consumption of tin. Tin is being used as an alternative to other materials. It is also used in various industries, such as food and beverage and packaging.
The base metal mining market was analyzed across five geographies: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. Regional data has been provided for each sub-segment of the base metal mining market. Key players in the market include Alcoa Inc., Anglo American plc, Antofagasta plc, BHP Billiton Ltd., Corporación Nacional del Cobre de Chile (CODELCO), First Quantum Minerals Ltd., Freeport-McMoRan Inc., Glencore plc, Kaiser Aluminum Corporation, Rio Tinto plc, Southern Copper Corporation, Teck Resources Limited, and Vale SA. The report provides an overview of these companies, followed by their financial details, business strategies, and recent developments.
Base Metal Mining Market: By Type
Base Metal Mining Market: By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South and Central America
- Rest of South and Central America