The Nonferrous metals are widely used for the structural building that requires less weight, nonmagnetic properties, more strength, and high resistance to corrosion. They are also specified for the electrical and electronic applications. Some of the key nonferrous metals include copper, aluminum, lead, and zinc. The Non-ferrous metals other than iron and alloys further that contain little to no iron. Some of the other non-ferrous metals include nickel, brass, titanium, beryllium, and zinc.
The nonferrous metal production & processing market further consists of sale of nonferrous metals by entities primarily engaged in smelting ores into nonferrous metals and/or the primary refining of nonferrous metals (other than aluminum) by electrolytic methods or any other processes.
According to study, “Nonferrous Metal Production And Processing Global Market Report 2019” the key companies operating in the global nonferrous metal production and processing market are Aluminum Corp. of China Ltd., Rio Tinto plc., Vale S.A., Anglo American plc., MMC Norilsk Nickel JSC, BHP Billiton plc., Glencore Xstrata plc., United Co. RUSAL plc., Jiangaxi Jutong Co. Ltd., Sumitomo Metal Mining Co Ltd, Hindalco-Novelis and United Company RUSAL Plc., Alcoa Inc.
Based on type, nonferrous metal production and processing market is segmented into nonferrous metal (except aluminum) smelting and refining; nonferrous metal (except copper & aluminum) rolling, drawing, and extruding; copper rolling, drawing, extruding, & alloying and secondary smelting, refining, and alloying of nonferrous metal (except copper & aluminum). Based on process type, market is segmented into smelting & refining, rolling, drawing, extruding, alloying and others. In addition, based on end-user industry, market is segmented into automotive, construction, electronic power and others.
The nonferrous metal production and processing market is driven by rise in demand for castings from industrial machinery, automobile, constructional and electrical segments, followed by growth in aerospace industry, increase in demand for non-ferrous metals from emerging reasons and rise in demand for galvanized steel. However, high price volatility of non-ferrous metals may impact the market. Moreover, extensive applications of titanium, stringent government regulations and increase in recycling rate of non-ferrous metals are key trends for market.
There is wide scale shift in process adopted by global metals companies by implementing the Internet-of-Things (IoT) technology for improving their efficiencies increasing the overall productivity. The IoT assists in connecting people, machines, and services enabling the flow of information and further enabling the real-time decisions. The IoT technology offers benefits associated to increase in asset uptime, efficient predictive maintenance and much fast pace processing and delivery time of the product.
Based on geography, the Asian-Pacific is a leading region in global nonferrous metal production and processing market owing to increase in demand for lightweight products and rise in consumption of non-ferrous metals in India, China, and Japan countries. Whereas, the European and North-American regions are expected to witness higher CAGR due to rapid technological advancements over the forecast period. In upcoming years, it is estimated that future of the market will be bright as a result of growth in adoption of IoT technology by global metals companies as well as rise in demand from the automobile and construction sectors during the forecast period.
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Ankur Gupta, Head Marketing & Communications