Base Metal Mining Industry | Forecast 2030
Base Metal Mining Industry Data Book – Aluminum Production, Copper Mining, Zinc Mining, Lead Mining, Nickel Mining, Tin Mining and Tungsten Mining Market
The economic value generated by the base metal mining industry was estimated at approximately USD 485.98 billion in 2022. This economic output is an amalgamation of businesses that are involved in base metal mining, distribution & supply, and application of base metal mining.
The increasing production of electric vehicles (EVs) is positively impacting the base metal mining industry. EV production widely consumes metals and minerals such as copper, zinc, aluminum, and nickel. For instance, copper is used in many components such as electric motors, batteries, wiring, and charging stations. Similarly, metals such as lead, zinc, lithium, and nickel are widely used in the battery technologies of EVs. Zinc is also a key material in the automotive sector. As per the University of Waterloo, around 7.7 kg of zinc is used per automobile for the prevention of rust.
Aluminum Production Market Insights
As aluminum has good electrical performance even at high temperatures, it is considered an ideal material for housing and electronic connectors. Strict emission policies coupled with increasing pressure to reduce the weight of vehicles are anticipated to remain key factors driving the demand for aluminum over the coming years.
In terms of revenue, the automotive segment is predicted to grow at a CAGR of 3.2% over the forecast period. Many car parts, including doors, batteries, and bumpers, are made using aluminum, The use of aluminum in automotive manufacturing is becoming more prevalent as consumer preference for lightweight vehicles increases. According to the Aluminum Association, 16% of all vehicle weight in 2028 is anticipated to be made up of aluminum.
Order your copy of the Free Sample of “Base Metal Mining Industry Data Book – Aluminum Production, Copper Mining, Zinc Mining, Lead Mining, Nickel Mining, Tin Mining and Tungsten Mining Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research
Copper Mining Market Insights
Copper is going to play a significant role in decarbonization, as the replacement of fossil fuels with renewable energy sources would require vast amounts of copper to distribute electricity over long distances. Copper will also play a crucial role in the electric vehicle transition. Owing to the above-mentioned reasons, the European Union declared copper as a critical raw material under the Critical Raw Materials Act (CRMA) in March 2023. This declaration will ensure easier access to capital and speedier permits for copper mining and recycling projects.
Zinc Mining Market Insights
Zinc is primarily used for galvanization of steel in automotive and construction industries. It is also used in the production of bronze, brass, zinc-based alloys, and chemicals. Oxides and chemicals of zinc find use in tires, paints, and medical products. It is also used in die-casting alloys and semi-manufactured products.
The galvanizing end-use segment dominated the volume share of the zinc market in 2022. Rising demand for steel is expected to have a positive influence on the zinc mining market. For instance, in January 2022, U.S. Steel Corp announced the construction of a new steel mill in Arkansas, U.S. The facility is expected to ass two electric arc furnaces. The plant is anticipated to have a production capacity of 3 million tons of crude steel per year. The mill is projected to start in 2024.
Lead Mining Market Insights
In 2022, the lead reserves were estimated to be around 2 billion tons. Substantial lead resources have recently been discovered in significant quantities, along with deposits of zinc, silver, or copper in Australia, China, Ireland, Mexico, Peru, Portugal, Russia, and the U.S. (Alaska). Australia has the largest has largest reserves of lead in the world.
In 2022, more than 81% of lead went into the production of batteries, while the remaining is used in rolled and extruded products, pigments & other compounds, ammunition, cable sheathing, and alloys. The rising health concern with lead has led governments across the world to restrict the consumption of lead, which is negatively influencing the market.
Nickel Mining Market Insights
The global nickel mining market size was estimated at USD 50.40 billion in 2022 and is estimated to grow at a compound annual growth rate (CAGR) of 6.6% from 2023 to 2030. Growth in end-use industries such as construction, consumer durables, and machinery & equipment are propelling the growth of the stainless steel industry. Nickel is one of the key raw materials of stainless steel. Hence, development in the stainless steel industry is contributing to the growth of the market. According to the Nickel Institute, over two-thirds of the world’s nickel is utilized in the production of stainless steel. It acts as an alloying agent, enhancing essential properties such as formability, ductility, and weldability while also increasing corrosion resistance for specific applications.
Go through the table of content of Base Metal Mining Industry Data Book to get a better understanding of the Coverage & Scope of the study
Table of Contents – Sectoral Outlook Report
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Purchased Database
1.3.2. GVR’s Internal Database
1.3.3. Secondary Sources & Third-Party Perspectives
Chapter 2. Executive Summary
2.1. Industry Snapshot
2.2. Key Trends – Highlights
Chapter 3. Industry Trend Analysis
3.1. Regulatory Framework & Benchmark
3.2. Value Chain Analysis
3.3. Competitive Benchmarking
3.3.1. Competitor Ranking & Heat-map Analysis
3.4. Macroenvironmental Trend Analysis
3.4.1. Industry Driving Forces & Impact Analysis
3.4.2. Opportunities & Challenges
Company Profiles
- Bhp
- Anglo American
- Antofagasta Plc
- Aurubis
- Codelco
- Freeport-Mcmoran, Inc
- Glencore
- Norilsk Nickel
- Vale
- Zinjin Mining Group Co., Ltd.
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