Base Metal Mining Industry 2023-2030: Harnessing Technological Advancements

Base Metal Mining Industry | Forecast 2030

Base Metal Mining Industry Data Book – Aluminum Production, Copper Mining, Zinc Mining, Lead Mining, Nickel Mining, Tin Mining and Tungsten Mining Market

The economic value generated by the base metal mining industry was estimated at approximately USD 485.98 billion in 2022. This economic output is an amalgamation of businesses that are involved in base metal mining, distribution & supply, and application of base metal mining.

The increasing production of electric vehicles (EVs) is positively impacting the base metal mining industry. EV production widely consumes metals and minerals such as copper, zinc, aluminum, and nickel. For instance, copper is used in many components such as electric motors, batteries, wiring, and charging stations. Similarly, metals such as lead, zinc, lithium, and nickel are widely used in the battery technologies of EVs. Zinc is also a key material in the automotive sector. As per the University of Waterloo, around 7.7 kg of zinc is used per automobile for the prevention of rust.

Access the Global Base Metal Mining Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

 

Base Metal Mining Industry Data Book Coverage Snapshot

Markets Covered

  • Base Metal Mining Industry USD 485.98 billion in 2022 3.5% CAGR (2023-2030)
  • Aluminum Production Market Size USD 174.42 billion in 2022 3.4% CAGR (2023-2030)
  • Copper Mining Market Size USD 178.61 billion in 2022 2.6% CAGR (2023-2030)
  • Zinc Mining Market Size USD 66.09 billion in 2022 4.1% CAGR (2023-2030)
  • Lead Mining Market Size USD 9.25 billion in 2022 2.4% CAGR (2023-2030)
  • Nickel Mining Market Size USD 50.40 billion in 2022 6.6% CAGR (2023-2030)
  • Tin Mining Market Size USD 7.20 billion in 2022 -0.1% CAGR (2023-2030)
  • Tungsten Mining Market Size USD 0.02 billion in 2022 6.5% CAGR (2023-2030)

 

Nickel Mining Market Growth & Trends

 

The global nickel mining market is anticipated to reach USD 83.81 billion by 2030, according to a new report by Grand View Research, Inc., projected to grow at a CAGR of 6.6% from 2023 to 2030. The rising demand for nickel in electric batteries is propelling mining activities worldwide. The product plays a crucial role in batteries, allowing them to store more energy while also being cost-effective. It is used in two popular types of batteries: Nickel Cobalt Aluminium (NCA) and Nickel Manganese Cobalt (NMC). NCA batteries contain 80% nickel, while NMC batteries contain 33%.

The increasing production of electric batteries is expected to have a positive influence on mining. In March 2022, a Swedish-based battery manufacturer, Northvolt AB, announced plans to construct a gigafactory in Northern Germany with an estimated annual production capacity of 60 GWH. Its production is set to commence in 2025. Europe’s focus on green energy transition is anticipated to boost sustainable mining activities in the region. There are large-scale reserves of nickel in the region, and growing demand for the product in batteries for electric vehicles and renewable energy is anticipated to boost its production over the coming years.

 

Order your copy of the Free Sample of “Base Metal Mining Industry Data Book – Aluminum Production, Copper Mining, Zinc Mining, Lead Mining, Nickel Mining, Tin Mining and Tungsten Mining Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030, published by Grand View Research

 

Tungsten Mining Market Growth and Trends

Tungsten, known for its exceptionally high melting point among metals, has historically found application in the filaments of incandescent bulbs, illuminating countless homes worldwide. However, the diminishing popularity of these bulbs, primarily due to their low energy efficiency, has led to a significant reduction in the use of tungsten filaments for lighting.

Cemented carbide is by far the largest application of tungsten in the industrial sector. It is one of the hardest compounds produced after heating an equal proportion of carbon and tungsten at 2,800°C. It is usually sold in powder form in different grain sizes. After the sintering process, it can be used in abrasives, industrial machinery, jewelry, and other instruments & tools.

 

Go through the table of content of Base Metal Mining Industry Data Book to get a better understanding of the Coverage & Scope of the study

 

Competitive Insights

The base metal mining market is fragmented with the presence of various key players such as BHP, Norilsk Nickel, Vale, GRUPO MÉXICO, and Glencore in the market. The industry also comprises a few medium and small players operating in different parts of the country. To remain competitive, mining companies are entering into long-term supply contracts with end users. Also, the companies use derivative contracts to protect them from market volatility. These fluctuations expose the companies to the risk of opportunity loss and mark-to-market fair value adjustments. These contracts could include forward sales, futures contracts, call options, and other derivative instruments.

 

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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