The global market for base metal mining is
characterized by a markedly high level of consolidation, with
Glencore Plc. solely accounting for over 68% of the global market in
2014, states a report by Transparency Market Research. Other major
vendors in the market, comprising BHP Billiton Limited,
Freeport-McMoRan, Inc., Antofagasta PLC, CODELCO, and Alcoa Inc.,
cumulatively accounted for nearly 18% of the market in the same year.
The market features a low degree of competition
but has high exit barriers for manufacturers owing to investment and
contract commitments. The capital intensive nature of base metal
mining facilities has mitigated the threat of new entrants to a
substantial degree, reason why only a few companies hold a majority
of share of the market. Acquiring major mining companies in emerging
economies can help companies in the base metal mining market achieve
substantial traction and expansion across these regions, which are
among the most promising investment hubs for the base metal industry.
This 108 page report gives readers a
comprehensive overview of the Base Metal Mining market. Browse this
market Research Report@
Infrastructure Development Activities to be Key
Enabler of Growth
Global estimates entail that nearly 40% of the
world economy is directly or indirectly affected by the mining
industry. Consistent supply of base metals such as copper, zinc,
nickel, aluminum, and tin is central to the development of sectors
such as infrastructure, construction, manufacturing, transportation,
equipment, and utilities. Flourishing growth across these sectors in
the past few years, especially in developing regions such as Asia
Pacific, is the major demand driver of base metals in the global
market.
The European Union has significantly increased its
investment aimed at the development of the region’s energy
infrastructure, to make it more complaint with renewable energy
sources, in the past few years. Transportation, construction, and
equipment industries, which are some of the principal consumers of a
number of base metals, are also expanding at a plausible rate across
the globe.
These factors are collectively leading to the
increased consumption of base metals and are expected to remain the
key drivers of the global base metal mining market in the next few
years. However, issues such as resource nationalism and the
requirement of social license to operate in resource-rich regions
will pose difficulties for companies operating in the global base
metal mining market in the years to come.
Asia Pacific to Dominate Global Consumption
Asia Pacific holds a prominent position in the
global market for base metal mining. The region is the largest
consumer of base metals on account of the excellent development
across the industrial and manufacturing sectors, especially in
countries like India and China. The region accounted for a share of
nearly 63% in the global base metal mining market in 2014 and is
expected to strengthen its position further in the years to come as
well.
In the Asia Pacific base metal mining market,
China held a share of nearly 45% in the market and is expected to
expand at a favorable 7% CAGR from 2015 to 2023. In India, the market
will exhibit a 6.49% CAGR over the same period and emerge as another
prominent consumer for base metals, next to Australia. Infrastructure
development activities in India will require increased volumes of
base metals in the next few years, driving the base metals mining
market.
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key trends impacting this market@
On a whole, the global
base metal mining market is expected to expand at a 5.01% CAGR from
2015 to 2023, in terms of volume, and rise from 103.33 MMT in 2014 to
160.19 MMT by 2023.
This review of the
market is based on a recent market research report published by
Transparency Market Research, titled “Base Metal Mining Market -
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
2015 - 2023.”
Key Takeaways:
- Development activities across the utility sector will increase the global consumption of copper
- Increased focus on the development of light-weight vehicles to benefit demand for aluminum
- Asia Pacific to account for more than half of the global base metal mining market by 2023
For the purpose of this study, the market has
been segmented as follows:
Base Metal Mining Market: By Type
- Copper
- Nickel
- Lead-zinc
- Aluminum
- Tin
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