The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Processed Nonferrous Metal Global Market Report 2023, the processed nonferrous metal market is expected to show significant growth in the forecast period.

The global processed nonferrous metal market is in a phase of dynamic growth, driven by urbanization, evolving supply chain dynamics, and an increasing demand for non-ferrous metal products. Let’s explore the key factors shaping this market and the trends that will influence its trajectory.

**1. Impressive Growth Trajectory
The global processed nonferrous metal market has witnessed a robust expansion, escalating from $1460.83 billion in 2022 to $1542.1 billion in 2023, demonstrating a noteworthy Compound Annual Growth Rate (CAGR) of 5.6%. Looking ahead, projections indicate a continued upward trajectory, with the market expected to reach $1861.73 billion by 2027, boasting a projected CAGR of 4.8%.

**2. Urbanization Driving Demand
One of the primary drivers of the processed nonferrous metal market is the rapidly growing urban populations worldwide. As more people migrate from rural to urban areas, the demand for housing and infrastructure experiences a significant upswing. This surge is particularly notable in Asian countries like China, India, Vietnam, and the Philippines. According to the United Nations World Urbanization Prospects Report, 55% of the global population lived in urban areas, with expectations to reach 68% by 2050. South Asia alone is projected to witness urban population growth to 250 million by 2030, as reported by the World Bank.

**3. Key Players in the Market
The processed nonferrous metal market is shaped by major players at the forefront, contributing to its growth and evolution. Companies such as Jiangxi Copper Company, Freeport-McMoRan Inc., and JXTG Holdings Inc. play pivotal roles, driving innovation and meeting the demands of various industries.

**4. Supply Chain Challenges and New Product Launches
The launch of new products and the overall growth in the market are expected to impact the supply chain operations of nonferrous metal production and processing. However, uncertainties over raw material suppliers’ ability to meet market demand pose a challenge. According to a KPMG survey, only 17% of companies have complete visibility of their suppliers. Lack of supply chain visibility can result in long delays and unproductive downtime in manufacturing facilities, hindering the industry’s growth.

**5. Segmentation: Navigating the Diverse Landscape
Understanding the intricate dynamics of the processed nonferrous metal market requires segmentation. The market is categorized based on type, process type, and end-user industry:

• Type:
  • Smelted and Refined Nonferrous Metal (except Aluminum)
  • Rolled, Extruded and Alloyed Copper
  • Rolled and Extruded Nonferrous Metal (except Copper and Aluminum)
  • Secondary Smelted, Refined and Alloyed Nonferrous Metal (except Copper and Aluminum)
• Process Type:
  • Smelting and Refining
  • Rolling, Drawing, Extruding
  • Alloying
  • Other Process Types
• End User Industry:
  • Automotive
  • Electronic Power
  • Construction
  • Other End User Industries

**6. Regional Dynamics: Asia-Pacific Leading the Charge
In 2022, Asia-Pacific emerged as the largest region in the processed nonferrous metal market. The region not only leads but is also expected to continue as the fastest-growing region during the forecast period. Asia-Pacific’s dominance is a testament to the significant industrial and economic activities driving the processed nonferrous metal market.

View More On The Processed Nonferrous Metal Market Report 2023 –
https://www.thebusinessresearchcompany.com/report/processed-nonferrous-metal-global-market-report

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The Processed Nonferrous Metal Global Market Report 2023  provides an in-depth analysis on the processed nonferrous metal market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the processed nonferrous metal market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –
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