Market Overview
Base metals are extensively used
in the manufacturing of electronic products such as computing devices, home
appliances, and communication devices. One of the base metals, copper, has
superior thermal conductivity, owing to which it finds wide applications in
electric wires and components. Nickel is an ideal application for electronic
appliances and battery materials. Thus, the rise in the electronics industry is
expected to drive the demand for base metals mining during the forecast period.
According to the German Electrical and Electronic Manufacturers' Association
(ZVEI), the global electronic and electrical industry was valued at USD
4,499.22 billion in 2016. Asia-Pacific is the leading producers of electronic
products, in 2016 the production was valued at USD 3,316.35 billion.
Europe was the second-largest
producer of electronic products accounting for USD 622.45 billion in 2016.
Furthermore, consumer electronic products were valued at USD 249.32 billion,
and household appliances were valued at USD 265.56 billion of the global
electrical and electronics market. Thus, the rising demand for electronic
products such as smartphone and smart gadgets coupled with innovation in IOT
technology, the growth of the global base metals mining market is likely to propel
in the coming years.
Competitive Analysis
·
CODELCO
·
BHP Billiton Limited
·
Antofagasta PLC
·
Alcoa Corporation
·
Vedanta Resources Plc.
·
Freeport-McMoRan
·
Rio Tinto
·
Norilsk Nickel
·
Vale S.A
·
Anglo American Plc
·
Glencore
·
Southern Copper Corporation
·
First Quantum Minerals Ltd.
·
United States Steel Corporation
Market Segmentation
The global base metals mining
market has been segregated on the basis of metals type, application, and
region. By metals type, the global base metals mining market has been
categorized into copper, nickel, zinc, aluminum, lead, and others. The aluminum
segment held significant market share in 2017 and is expected to be the leading
segment during the forecast period owing to the increasing application in the
electrical and electronics and construction industries.
On the basis of application,
the global base metals mining market has been divided into electrical and
electronics, construction, automotive, medical, and others. The construction is
expected to be the leading segment in the global market during the review
period. The recent automation and robotic trends are increasing the application
of metals sensors in machines to access invaluable operation data and enhance
production efficiency thereby reducing potential breakdown. This shifting trend
towards usage of convenient electronic devices is expected to propel the growth
of the electrical and electronics segment.
Regional Analysis
Asia-Pacific is expected to
contribute the largest share in the global Base
Metals Mining Industry due to favorable government policies in the
construction industry such as high foreign direct investment (FDI) in China and
India. The European and the North American markets are projected to register
healthy CAGRs owing to the high demand for base metals in the automotive
industry. The increasing sale of automobiles and innovation in the automotive
industry are factors expected to augment the growth of the base metals mining
market in the regions.
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