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Base Metal Mining Market: Increasing Employment in Construction Industry to Boost Growth

Press release Description

Market Research Reports Search Engine (MRRSE) has announced that its repository now features a report titled “Base Metal Mining Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 – 2023.” The report, by Transparency Market Research (TMR), predicts that on the basis of volume, the global base metal mining market stood at 103.33 MMT in 2014 and is poised to reach 160.19 MMT by 2023, expanding at a 5.01% CAGR between 2015 and 2023. 

The report starts by presenting an introduction to the market. This section encapsulates the value chain analysis of the industry and the prime dynamics impacting its growth. These include the drivers, challenges, trends, and opportunities influencing the development of the market. The rising utilization of base metals in the construction industry will fuel the growth of the global base metal mining market. In addition, the increasing demand for base metals globally owing to their unique properties such as durability, low maintenance requirements, corrosion resistance, and high strength will further augment the development of the market.

On the other hand, factors such as the increasing need for social license for operating in resource-rich areas and the increasing threat from upcoming substitutes may restrain the development of the base metal mining market in the coming years, as per this study. 

In terms of type, the report segments the global base metal mining market into nickel, copper, aluminum, lead-zinc, and tin. Amongst these, aluminum, the most extensively utilized base metal, will experience rapid growth due to its growing utilization in the automotive industry. This segment led the market in 2014 with a share of 53.7% and is poised to constitute a share of 54.3% by 2023. 

On the other hand, on the basis of volume, the copper market is predicted to expand at a 4.30% CAGR between 2015 and 2023. The demand for copper will be fuelled by the urgent need to restore aging infrastructure in both North America and Europe. On the other hand, the growing need to enhance the power distribution infrastructure in order to align it with the current technological scenario will fuel the utilization of copper in Asia Pacific. 

Geographically, the report categorizes the global base metal mining market into Europe, North America, Asia Pacific, South and Central America, and the Middle East and Africa. Of these, Asia Pacific is leading the base metal mining market at present. This is due to the increasing urbanization and industrialization in this region. The Asia Pacific base metal mining market constituted a share of approximately 63% in the global market in 2014 and is predicted to maintain its superiority in the coming years. 

Glencore Plc., CODELCO, Freeport-McMoRan, Inc., Antofagasta PLC, Alcoa Inc., and BHP Billiton Limited, among others, are the chief players operating in the market, as per this study. 

Browse Full Global Base Metal Mining Market Report with TOC:

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