Understanding the Growth Trajectory and Upcoming Trends in the Global Metal and Metal Ores Market in the 2017-2023
Allied Market Research recently published a report on the metal and metal ores market highlighting the various aspects of the industry, including its growth drivers, investment opportunities, and upcoming trends. Each of these factors is studied in detail to aid companies in understanding the evolving dynamics of the industry. As per the report, the sector is expected to gather a revenue of $10,649,885 million by 2023, rising at a CAGR of 0.2% during 2017-2023.
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What are the main growth drivers of the metal and metal ores market?
Which region is anticipated to have the fastest growth rate in the industry?
Which are the major players operating in the industry?
Which segment is projected to have the largest revenue share in the sector?
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Over the years, ferrous metals such as iron, nickel, chromium, and manganese have been widely used to produce different steel-based products. Similarly, non-ferrous materials such as aluminum, copper, zinc, etc., are used in domestic, commercial, and industrial sectors. Thus, the growth of the metal and metal ores industry is attributed to rise in demand for different metals and minerals from various end-use industries, including manufacturing, aerospace, consumer electronics, and construction.
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Along with this, the overall surge in the disposable incomes of the middle-class population across the globe has positively impacted the industry. However, political instability and adverse taxation policies enacted by various governments across the globe are anticipated to restrict the growth of the market. Also, the overall expansion of the mining sector is estimated to create favorable conditions for the growth of the industry.
The AMR report also offers an in-depth regional analysis that studies the performance of the market in various regions, including LAMEA, Europe, Asia-Pacific, and North America. As per the study, the metal and metal ores sector is predicted to witness huge growth in the Asia-Pacific and Europe regions due to the rising pace of industrialization and urbanization in the countries of these provinces.
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The mining and metal ore extraction industries have been one of the most environmentally polluting industries in the global economy. With rise in awareness regarding sustainability, many governments, activists, and civil societies have launched initiatives to help companies transition toward eco-friendly metal ore extraction processes. At the same time, businesses are proactively investing in these sustainable technologies to reduce the carbon footprint of the metal and metal ores industry.
For instance, the emergence of biohydrometallurgy has played an important role in helping the market flourish. This technology involves the use of biotic agents such as bacteria, fungi, and archaea to perform leaching processes for the extraction of metals from their ores. This methodology is generally used in the case of industrial waste to reduce the chemical pollution caused by improper waste management. Recently, researchers have also developed ultrasound-assisted hydrometallurgy to accelerate the overall reaction rate and improve the efficiency of leaching processes.
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To summarize, the AMR report on the metal and metal ores market highlights the latest advancements and trends in the industry to help companies stay ahead of their peers in the sector. In addition, the regional analysis offered in the study assists businesses in making comprehensive expansion strategies to expand their operations globally.
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