Non-Ferrous Metal Market: By Type (Aluminium, Copper, Lead, Magnesium, Tin, Nickel, Titanium, Zinc, Precious Metals, Rare Earth Metals), By Process Type (Smelting and Refining, Rolling, Drawing, Extruding, Alloying, Others), By Application (Automobile, Electronics, Construction, Aerospace & Defence, Energy, Packaging, Consumer Goods and Home Appliances, Others), and Geography

Non-Ferrous Metals Market size was valued at USD 1,410.3 Billion in 2022 and is poised to grow at a CAGR of 7.3% from 2023-2029. Non-ferrous metals are metals that do not contain iron and are resistant to corrosion, non-magnetic, high conductivity, and low weight. Non-ferrous metals include aluminium, brass, copper, lead, nickel, zinc, etc. They are majorly used in the automotive, aerospace, and electronic industries. Based on the type, Copper is the most commonly used non-ferrous metal which is often used in electrical wiring owing to its ductility and high conductivity. According to Copper Development Association, Inc., copper has 93% of the total building wire market in the USA and is driving the non-ferrous metal market. Moreover, the application of non-ferrous metals in roofing, siding, window frames, and gutters owing to their soundproof panels and waterproof sealant quality has created an opportunity for the expansion of the market. Owing to the development in industries, like the telecommunication and ITU sectors, and the need for high-grade materials for the production of electronic devices and components, the electronic power industry also contributed significantly to the overall market. But the shifting consumer preferences in the wake of a predicted economic downturn changes to industrial regulations to reflect escalating environmental concerns, significant swings in raw material prices brought on by ongoing geopolitical tensions, and anticipated economic turbulences are expected to hamper the market. However, the increasing demand from end-use industries, growing urbanization, and industrialization along with technological advancements for more efficient and less energy consumption as compared to the ferrous metal market is expected to fuel the growth of the non-ferrous metal market over the next few years.

Non-Ferrous Metal Market Key Developments:

• In September 2022, Marubeni Metals and Minerals, a wholly owned subsidiary of Marubani Corporation acquired a 19.99% stake in Valhalla Metals Inc, a Canadian exploration company by subscribing to a third-party allotment of new shares.
• In April 2022, Tata Steel Mining completely acquired a 10% equity stake in Rohit Ferro-Tech (RFT) for Rs 20 crore.