Non-Ferrous Metals Gain Traction in Electric Vehicle (EV) Manufacturing, Fueling Market Growth to 2028

DUBLIN, Sept. 11, 2023 /PRNewswire/ -- The "Non-Ferrous Metals Market by Type, Application, and Region 2023-2028" report has been added to  ResearchAndMarkets.com's offering.

The global non-ferrous metals market reached a value of US$ 1,079 billion in 2022 and is expected to witness substantial growth in the coming years. The market is projected to reach US$ 1,459 billion by 2028, with a Compound Annual Growth Rate (CAGR) of 5.1% during the forecast period from 2023 to 2028.

Non-ferrous metals refer to metallic substances that do not contain iron as their primary component. This category includes a wide range of metals such as aluminum, copper, lead, tin, nickel, titanium, zinc, and others.

These metals are extensively used across various industries, including automotive, electronics, construction, aerospace, healthcare, and more. They are valued for their unique properties, including high corrosion resistance, low melting points, excellent thermal and electrical conductivity, ductility, and malleability.

Non-ferrous metals are cost-effective, lightweight, readily available, and easy to recycle, making them environmentally friendly. Several factors, including increased utilization in the automotive and construction industries, advancements in coatings and treatments, a shift toward sustainable production and recycling methods, and growth in the electrical and electronics industry, are driving the growth of this market.

Non-Ferrous Metals Market Trends:

1. Automotive Industry Utilization: Non-ferrous metals play a vital role in the automotive industry, with applications ranging from body panels and engine components to electric vehicle (EV) components like battery packs. The growing adoption of non-ferrous metals in EVs is contributing to market growth.
2. Construction Industry Demand: The construction industry is witnessing increased demand for non-ferrous metals in the manufacture of windows, doors, plumbing pipes, and structural materials like beams and columns, driving market expansion.
3. Advanced Coatings and Treatments: Recent developments in surface coatings and treatments, such as electroplating and anodizing, enhance the corrosion and wear resistance of non-ferrous metal products, making them more attractive to various industries.
4. Sustainable Production and Recycling: The adoption of sustainable production methods and recycling techniques not only reduces waste but also contributes to energy conservation, which is boosting the market's growth.
5. Electrical and Electronics Industry: Non-ferrous metals are increasingly used in the electrical and electronics industry for manufacturing wires, connectors, transformers, and other components, further supporting market growth.

Key Market Segmentation:

The report offers a detailed analysis of key trends within each segment of the global non-ferrous metals market, along with forecasts for global, regional, and country-level markets from 2023 to 2028. The market is categorized based on type and application.

Type Insights:

• Aluminum
• Copper
• Lead
• Tin
• Nickel
• Titanium
• Zinc
• Others

Application Insights:

• Automobile Industry
• Electronic Power Industry
• Construction Industry
• Others

Regional Insights:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape:

The report offers a comprehensive analysis of the competitive landscape in the global non-ferrous metals market, featuring profiles of major companies such as Aditya Birla Group, Alcoa Corporation, Aluminum Corporation of China Limited, Anglo American plc, BHP, RUSAL (En+ Group MKPAO), Glencore Plc, Norilsk Nickel, Rio Tinto Group, Sumitomo Metal Mining Co. Ltd., Vale S.A., and more.

Key Questions Answered:

1. How has the global non-ferrous metals market performed, and what are the growth prospects?
2. What are the key drivers, restraints, and opportunities in the market?
3. Which regions and countries offer attractive market opportunities?
4. What are the most promising types and applications in the non-ferrous metals market?
5. Who are the major players in the global market, and what is the competitive landscape?
6. How has the COVID-19 pandemic affected the non-ferrous metals market?
7. What are the key sustainability initiatives and recycling practices in the industry?
8. How is the adoption of non-ferrous metals changing in the automotive and construction sectors?
9. What technological advancements are driving innovation in coatings and treatments for non-ferrous metals?
10. What role do non-ferrous metals play in the growth of the electric vehicle (EV) market?

For more information about this report visit https://www.researchandmarkets.com/r/qyvj7o

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SOURCE Research and Markets