Asia-Pacific nonferrous metal production and processing market accounts for the largest share in the global nonferrous metal production and processing market.
The nonferrous metal production and processing market consists of sales of nonferrous metals by entities (organizations, sole traders and partnerships) primarily engaged in smelting ores into nonferrous metals and/or the primary refining of nonferrous metals (except aluminum) by electrolytic methods or other processes.
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Nonferrous Metal Production And Processing Market Size
The nonferrous metal production and processing market is expected to reach a value of nearly $1.2 trillion by 2022, significantly growing at a growth rate of around 2% during the forecast period. The growth in the nonferrous metal production and processing market is due to an increase in new vehicle sales in rapidly developing countries such as China and India owing to a rise in disposable income, growing population. However, the market for nonferrous metal production and processing is expected to face certain restraints from several factors such as interest rate increases and depletion of natural resources.
Global metals companies are adopting and implementing IoT technology to improve their efficiencies and drive productivity. IoT connects people, machines, and services enabling the flow of information and real-time decision, as the major trends witnessed in the global nonferrous metal production and processing market.
Major players in the global nonferrous metal production and processing market include Aluminum Corp. of China Ltd, Vale S.A., Rio Tinto plc, Anglo American plc, BHP Billiton plc.
Aluminum Corporation of China Limited, is a Chinese company listed in Hong Kong SAR and in New York. Aluminum Corporation of China Limited is one of the largest companies in the nonferrous metal production and processing market. Multinational aluminium company headquartered in Beijing, People’s Republic of China. It is the world’s second-largest alumina producer and third-largest primary aluminium producer.
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Nonferrous Metal Production And Processing Market Segmentation
The global nonferrous metal production and processing market is further segmented based on type and geography.
By Type – The nonferrous metal production and processing market is segmented nonferrous metal (except aluminum) smelting and refining, copper rolling, drawing, extruding, and alloying, nonferrous metal (except copper and aluminum) rolling, drawing, and extruding, secondary smelting, refining, and alloying of nonferrous metal (except copper and aluminum).
By Geography – The global nonferrous metal production and processing is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific nonferrous metal production and processing market accounts the largest share in the global nonferrous metal production and processing market.
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