Metals are elements that lose electrons easily, they are pliable, and shiny. Metals can be categorized in several ways, one of them is called transition metals. The elements comprising transition metals are listed under the D or F orbitals of the periodic table. There are four types of orbitals (S,P,. D, and F) in the periodic table that define the way the electrons are arranged. The D and F orbitals consists of 40 transition metal elements, amongst which, 28 elements belong to the actinide and lanthanide series. Moreover, there are about hundred transition metals, and they have similar properties. For instance, scandium through zinc, and lanthanum through mercury are the types of transition metals. Transition metals are lustrous, silvery, hard, and good conductors of heat and electricity. However, properties between individual elements vary; for instance, tungsten does not melt at room temperature, whereas mercury is a liquid at room temperature.
The global transition metals market is estimated to witness rapid growth due to the strong demand from construction and transportation sectors during the forecast period. Rapid industrialization and government support in the emerging regions such as Asia Pacific and Central & South America are projected to aid in growth of construction and automotive industries. Environmental concerns and regulations on excessive mining are anticipated to hamper the regional as well as global market.
Based on type, the transition metals market can be segregated into iron, titanium, copper, cobalt, nickel, and others. Iron element is anticipated to lead the transition metals market. It is employed in several industries in the form of alloys. For instance, iron is mixed with other elements (vanadium, tungsten, etc.) to obtain alloys such as steel. Steel is widely utilized as a structural material, and is strong and flexible. It is used in construction & buildings, automobile, marine, cosmetics, and other end-use industries. Titanium has low density, as compared to steel, and has good mechanical strength. It is abundantly employed in the paints & coating industry in the form of white pigments.
In terms of end-use industries, the transition metals market can be segmented into construction & building, automotive, marine, electronics, paints & coatings, consumer goods, and others. Transition metals are extremely versatile elements, and have potential to be utilized in various applications. In terms of versatility, they are malleable and ductile, which make them ideal materials in the manufacture of metal-based products. This, in turn, is anticipated to boost the demand for transition metals in the automotive and marine industries. Transition metals are also utilized in wires and cables as they are good conductors of heat and electricity, thus covering a wide scope of applications in many industries. Increasing demand for versatile and adaptable metals in the construction, medical, electrical and automotive industries is projected to fuel the global transition metals market.
In terms of geography, the transition metals market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America. North America is anticipated to lead the global transition metals market. Rise in research and development expenditure and mining activities by major players operating in countries of North America is anticipated to increase the demand for cobalt, nickel, platinum, iron, and others, thereby boosting the demand for transition metals in the region. Asia Pacific and Europe are anticipated to present lucrative opportunities for the transition metals market due to increasing investment opportunities for companies in these immature markets, and the increased focus of mining companies toward Asia as an R&D outsourcing destination. Latin America and Middle East & Africa are emerging markets for transition metals.
Key players operating in the global transition metals market include Transition Metals Corp (Canada), Reliance Steel & Aluminum Co (U.S.), Vedanta Resources plc (U.K.), Samancor Chrome. (South Africa), Fortescue Metals Group Limited (Australia), Vale S.A.(Brazil), Teck (Canada), and Rio Tinto Group (U.K.).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.