The global Base Metal Mining for Zinc Market is forecast to reach USD 459.28 Billion by 2027, according to a new report by Reports and Data. Rising demand for smartphones, a drop in product prices, product innovation, and differentiation are some of the factors catalyzing the growth of various products in the electrical and electronics sector. The introduction of autonomous driving features in vehicles and different innovative technologies, coupled with rising demand for smartphones and computers, is driving the semiconductor industry, where base metals have a broader scope of application. Apart from silver, copper exhibits the best electrical conductivity. Its properties, such as corrosion resistance and good thermal conductivity, make it suitable for a wide range of electrical and electronics applications. As per the reports by Indian Bureau Mines, around 50.0% of copper is used in the electrical and electronics sector in the Asia Pacific, while the number stands at 25.0% in the U.S.
Some of the leading players in the global Base Metal Mining for Zinc Market:
Antofagasta PLC, BHP, Zijin Mining Group Co. Ltd., Freeport-McMoRan Inc., Anglo American, CODELCO, Aurubis, Norilsk Nickel, Vale, and Glencore.
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Further key findings from the report suggest
- Based on Product, Zinc Metal generated a revenue of USD 30.48 billion in 2019 and is projected to rise with a CAGR of 6.0% in the forecast period, owing to a wide variety of galvanizing applications from automotive and construction sectors.
- The Underground Mining Machinery is expected to grow with a CAGR of 6.9% in the forecasted period, owing to the upsurge of government support and a wide variety of applications from the construction sectors.
- The residential sector is the major contributor to the Base Metal Mining for Zinc Market. The residential area of the Asia Pacific region is the major shareholder of the market and held around 55.7% of the market in the year 2019, owing to a growing population, coupled with increasing housing needs.
- The Asia Pacific region dominated the market for Base Metal Mining in 2019. The region's consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The Asia Pacific region held approximately 65.0% of the market, followed by North America, which contains around 14.9% market in the year 2019.
Key questions addressed in the report:
- What is the expected market size of the global Base Metal Mining for Zinc Market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Base Metal Mining for Zinc Market?
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Base Metal Mining for Zinc Market Segmentation:
Product Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Aluminum
- Copper
- Zinc
- Lead
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Mineral Processing Machinery
- Crushing, Pulverizing and Screening Equipment
- Underground Mining Machinery
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
- Construction
- Automotive
- Electrical Electronics
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East Africa)
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