Metal & Metal Manufactured Products Market - Forecast (2022 - 2027)

Metal and Metal Manufactured Products Market size is forecast to reach $ 911.0 billion by 2025, after growing at a CAGR of 2.8% during 2020-2025. Metal is reusable and essential resources with high thermal & electrical conductivity, density, and possesses the ability to be deformed under pressure without splitting. Various metals are extracted via mining from their particular ores present in the earth's crust and are categorized into ferrous metals and nonferrous metals based on their iron composition. Metal fabrication is an important process that cuts, shapes, or molds metal material into a final product. The rise in demand for metal and metal manufactured products in various end-use industries is driving the metal and metal manufactured products during the forecast period.

Report Coverage

The report: “Metal and Metal Manufactured Products Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Metal and Metal Manufactured Products Market Industry.



Key Takeaways

· Growth in the market for metals in emerging economies coupled with large-scale use of recycled metal & related products is expected to provide great opportunities for the metal and metal manufactured products market.

· Trends in construction are the principal determinants of demand for structural metal products and hence due to growing construction activities in APAC, the metal, and metal manufactured products in this region is expected to grow.

· Use of lightweight materials and alloys with titanium and aluminum are likely to contribute to the growth of the automotive sector which in turn grows the metal and metal manufactured products market.


By Product - Segment Analysis

Pipe fixture fitting segment held a significant share in the metal and metal manufactured products market in 2019 growing at a CAGR of 3.10% during the forecast period. There are three commonly used metals for potable water plumbing pipes which are copper, stainless steel and brass. These metals are used because of their long lifespans and durability. However, mixing these metals is not generally advised due to the potential for discolored water and sudden pipe corrosion. Stainless steel is the most common plumbing material for pipe fixture fittings as it has an exceptionally long lifespan and is resistant to corrosion.

By Metal Type- Segment Analysis

Iron segment held a significant share in the metal and metal manufactured products market in 2019. The primary metals used in the manufacturing of metal products are iron and steel. According to the World Steel Organization, the production of world crude steel increased from 1,732,171 metric tonnes in 2017 to 1,816,611 metric tonnes in 2018. Moreover, decreasing prices of iron is driving its usage to manufacture metal products which in turn drives the metal and manufactured products. For instance, according to secondary research, the iron ore price in October 2019 was USD 88.53 per dry metric ton which decreased to USD 84.98 per dry metric ton in November 2019.

Geography - Segment Analysis

APAC dominated the metal and manufactured products market with a share of more than 51% during the forecast period. Driven by GDP growth and population, global demand for metal and metal manufactured products is expected to increase, especially because of economic expansion in India and China. According to International Energy Agency, China accounts for nearly half of global steel production. After decelerating in 2014 and falling in 2015, production expanded by a strong 3% in 2017. According to United States Geological Survey (USGS), China ranked first in the production of iron ore by producing 1,500,000 thousand tonnes in 2019, followed by Australia with 660,000 thousand tonnes of iron ore production.


Drivers – Metal and Metal Manufactured Products Market

· Increasing demand from the automotive industry

The growth of the global metal & metal manufactured products market is majorly driven by an increase in demand from various end-use sectors, such as healthcare, aviation, energy & power, electrical & electronics and others. Moreover, technological advancements and surge in demand for metals & metal manufactured products from the automotive industry are other factors supporting the expansion of the global market. Steel, magnesium, and aluminum are common metals used in the automotive industry due to its low price and enhanced safety. Various parts of the vehicles such as roof, chassis, brakes, engine, wheels, and exhaust; all utilize steel for its construction. As per the World Steel Association estimates, the automotive sector accounts for roughly 12% of the overall global steel consumption. Moreover, as aluminum is stronger and lighter than steel, it is widely used in the automobile industry.

Challenges – Metal and Metal Manufactured Products Market

· Fluctuation in raw material prices

Government regulations, increasing operational efficiency in order to reduce operating costs, rising cost of input materials and improving the quality of output are some of the challenges being faced by the metal industry. Global demand for primary and recycled aluminum is being fuelled by the trend towards lightweight construction in the automotive industry. According to secondary sources, the prices of aluminum in 2017 was 1,700 US dollars per tonne, and it increased to between 2,100 and 2,200 US dollars in 2018. This results in usage of substitutes and also hampers the metal and metal manufactured products market.


Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the metal and metal manufactured products market. In 2019, the market of metal and metal manufactured products market has been consolidated by the top five players accounting for xx% of the metal and metal manufactured products market share. Major top 10 companies of metal and metal manufactured products market are Alabama Metal Industries Corporation, Barrick Gold Corporation, China Minmetals Corporation, Broder Metals Group, China Nonferrous Metal Mining Co., Ltd, D S Metals Limited, Faezrland Metal Products Co., Ltd., Hitachi Metals, Ltd., and Sierra Metals Inc. among others.

Price Increase/ Geographical Expansion

Ø In January 2018, Hitachi Metals, Ltd. increased prices across all-alloy alloys and product forms due to a sharp rise in prices of raw materials, secondary materials, etc.

Ø In October 2017, Hitachi Metals, Ltd. established a new company named Hitachi Metals (Ningbo) Co., Ltd., in Ningbo, Zhejiang Province. The purpose of the establishment was to enhance the solution business for tool steel in the People’s Republic of China.

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Location: United States

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