Global Metals Market Size to Exceed USD 139.35 Billion by 2035| CAGR of 5.37%

According to a research report published by Spherical Insights & Consulting, The Global Metals Market Size is Expected To Grow from USD 78.40 Billion in 2024 to USD 139.35 Billion by 2035, at a CAGR of 5.37% during the Forecast Period 2025-2035.  

Browse key industry insights spread across 240 pages with 120 Market data tables and figures & charts from the report on the "Global Metals Market Size, Share, and COVID-19 Impact Analysis, By Metal Type (Precious Metals (Gold, Silver, Platinum, Palladium, Others), Base Metals (Copper, Aluminum, Nickel, Zinc, Lead, Tin), Ferrous Metals (Iron Ore, Carbon Steel, Alloy Steel, Stainless Steel, Cast Iron), Special & Alloy Metals (Titanium, Cobalt, Molybdenum, Tungsten, Vanadium, Others), Rare Earth Elements (Neodymium, Praseodymium, Dysprosium, Others), and Liquid Metals (Gallium, Mercury, Eutectic Alloys, Indium-Based Alloys, Bismuth-Based Alloys), By Form (Ingots, Powders, Sheets & Plates, Bars & Rods, Pipes & Tubes, Wires & Cables, Strips & Foils, and Others) By Application (Construction, Industrial Manufacturing, Automotive, Electrical & Electronics, Jewelry & Decorative Arts, Investment, Packaging, Aerospace & Defense, Energy & Power Generation, Medical & Dental, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2025 – 2035." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/metals-market       

The term "metals market" describes the international market for the extraction, manufacturing, trading, and consumption of different metal commodities, such as non-ferrous and ferrous metals. It covers a broad range of sectors where metals are vital raw materials, including manufacturing, vehicles, aerospace, electronics, energy, and construction. Physical exchanges, over-the-counter (OTC) transactions, and futures contracts on exchanges like the London Metal Exchange (LME) and COMEX are the ways the market functions. Innovations in manufacturing processes, such as 3D printing and sophisticated metallurgy, increase the efficiency and applicability of metal, increasing demand in high-tech sectors including electronics, aviation, and defense. Global trade dynamics and geopolitical events in the metals market, boosting mining operations, supply chain logistics, tariffs, and trade laws. The growth and development of the metals market is driven by a variety of economic, technological, environmental, and geopolitical factors. However, Price volatility, environmental restrictions, excessive energy consumption, geopolitical unrest, and competition from substitute materials are some of the restraining factors market. 

The base metals segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period.     

Based on the metal type, the metals market is divided into precious metals (gold, silver, platinum, palladium, others), base metals (copper, aluminum, nickel, zinc, lead, tin), ferrous metals (iron ore, carbon steel, alloy steel, stainless steel, cast iron), special & alloy metals (titanium, cobalt, molybdenum, tungsten, vanadium, others), rare earth elements (neodymium, praseodymium, dysprosium, others), and liquid metals (gallium, mercury, eutectic alloys, indium-based alloys, bismuth-based alloys. Among these, the base metals segment dominated the market in 2024 and is projected to grow at a substantial CAGR during the forecast period. Base metals due to they have wide range of industrial applications and are highly sought after in key sectors such as electronics, automotive, infrastructure, and construction.  

The bars & rods segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.     

Based on the form, the metals market is divided into ingots, powders, sheets & plates, bars & rods, pipes & tubes, wires & cables, strips & foils, and others. Among these, the bars & rods segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. Bars and rebars are widely used due in large part to the rising need for urban development, infrastructural expansion, and industrial growth around the world.   

The construction segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period.     

Based on the application, the metals market is divided into construction, industrial manufacturing, automotive, electrical & electronics, jewelry & decorative arts, investment, packaging, aerospace & defense, energy & power generation, medical & dental, and others. Among these, the construction segment accounted for the largest share in 2024 and is anticipated to grow at a remarkable CAGR during the forecast period. The trend has been greatly aided by government investments in residential, commercial, and industrial construction as well as rapid urbanization and population increase.   

North America is expected to hold the majority share of the global metals market during the forecast period.

Asia Pacific is expected to hold the majority share of the global metals market during the forecast period. Increased consumption of metal is also a result of the growing middle class, growing disposable incomes, and government programs to support renewable energy and modernize infrastructure. Significant mineral reserves are also present in the area, enabling local mining and processing operations that provide a consistent supply of raw materials.

North America is anticipated to grow at the fastest pace in the global metals market during the forecast period. The growing demand for crucial metals like nickel, cobalt, and lithium is a result of government policies supporting the clean energy transition and sustainable mining methods. The supply chain and market resilience are strengthened by the revival of indigenous mining operations and initiatives to lessen reliance on imports of foreign metals.

Major vendors in the global metals market are BHP Group, Rio Tinto, Glencore, Vale S.A., Anglo American, Codelco, Freeport-McMoRan, Newmont Corporation, Southern Copper Corporation, Alcoa, Rusal, Hindalco Industries, ArcelorMittal, Nippon Steel, POSCO Holdings, Nucor Corporation, Norilsk Nickel, Thyssenkrupp AG, JSW Steel, Tata Steel, China Baowu Steel Group, JFE Steel, Wheaton Precious Metals, Grupo México, Jiangxi Copper Corporation, and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

In September 2025, World EV Day, Vedanta Limited declared that it had invested over 12,500 crore to increase its capacity through projects involving ferrochrome production facilities, zinc alloy plants, and aluminum smelters to support india's expanding electric vehicle industry.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the metals market based on the below-mentioned segments:

Global Metals Market, By Metal Type

• Precious Metals 
• Gold
• Silver
• Platinum
• Palladium
• Others
• Base Metals 
• Copper
• Aluminum
• Nickel
• Zinc
• Lead
• Tin
• Ferrous Metals 
• Iron Ore
• Carbon Steel
• Alloy Steel
• Stainless Steel
• Cast Iron
• Special & Alloy Metals 
• Titanium
• Cobalt
• Molybdenum
• Tungsten
• Vanadium
• Others 
• Rare Earth Elements
• Neodymium
• Praseodymium
• Dysprosium
• Others
• Liquid Metals 
• Gallium
• Mercury
• Eutectic Alloys
• Indium-Based Alloys
• Bismuth-Based Alloys

Global Metals Market, By Form  

• Ingots
• Powders
• Sheets & Plates
• Bars & Rods
• Pipes & Tubes
• Wires & Cables
• Strips & Foils
• Others

Global Metals Market, By Application    

• Construction
• Industrial Manufacturing
• Automotive
• Electrical & Electronics
• Jewelry & Decorative Arts
• Investment
• Packaging
• Aerospace & Defense
• Energy & Power Generation
• Medical & Dental
• Others

Global Metals Market, By Regional Analysis

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

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