Tag: Lead

High Purity Base Metals Market Size Worth $398.04 Billion By 2027

The global high purity base metals market size is expected to reach USD 398.04 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 2.6% from 2020 to 2027. Increasing efforts by companies to deliver high-performance products and solutions are anticipated to boost the demand for high purity base metals over the forecast period.

Purity levels of base metals are available in different grades, such as 99.99%. In order to achieve this level of purity, metals have to undergo several processing steps. For instance, high purity aluminum is achieved through three-layer electrolysis or combining fractional distillation and three-layer electrolysis. In the electrolysis, aluminum ions are reduced in an electrolytic cell that contains three separate liquid layers. In the distillation, aluminum is refined by taking leverage of solubility differences.

Aluminum accounted for the largest volume share in the global high purity base metal market in 2019. It is the most inexpensive base metal and it finds applications in various end-use industries, automotive being the major industry. Lightweight and low cost are the major factors driving the demand for the product. High purity aluminum is popular in the electronics segment where it finds application in television, computer, and other display materials.

Lead is another vital product segment of the market. Advancements in the technologies have enabled to achieve high levels of purity in lead. Pure lead is alloyed with other elements for various commercial applications, such as extruded products like rods, wire, traps, ribbon, and pipes. It is also used in rolled products, such as thin foils, which are further used in crucial applications, including corrosion-resistant equipment for the chemical industry, waterproof membranes, roofing, and x-ray and gamma-ray shielding.

The ongoing COVID-19 pandemic has majorly affected the production and supply of these high purity base metals, causing their prices to decline. For instance, copper, lead, and zinc prices declined by -22%, -10%, and -19%, respectively in March 2020 from the previous month, owing to the emergence of the coronavirus. The shutdown of mines and manufacturing plants is affecting the prices.

North America is anticipated to be one of the fastest-growing regional markets in the forecast period. The region is impacted by COVID-19, which has led to a negative growth rate of the market in 2020; however, the situation is expected to stabilize in the next couple of years. Infrastructural developments and increasing production of electric vehicles are expected to boost the consumption of high purity base metals over the forecast period. For instance, the construction spending in the U.S. for the first seven months of 2020 was increased by 8.1% from the same period in the previous year. This is a positive sign for the market growth in the country.

The competitive rivalry is high in the market owing to the presence of numerous established players. The market players are engaged in mergers & acquisitions and capacity expansions for gaining a competitive edge in the market. For instance, in May 2020, Aurubis AG, a leading copper recycler, completed the acquisition of Metallo, which is its second acquisition in Belgium.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/high-purity-base-metals-market

Further key findings from the report suggest:

  • Asia Pacific held the largest volume share of more than 71.0% in 2019 owing to China, which is the major consumer of refined copper and lead in the world
  • The transportation end-use segment held the largest revenue share in 2019 on account of the rising production of electric vehicles, which will boost the demand for copper in the coming years
  • By product, the copper segment is expected to register the fastest growth rate of 3.1% in terms of volume from 2020 to 2027 on account of its rising demand in the construction, automotive, and electronics industries
  • The building and construction end-use segment is expected to witness the fastest growth in terms of revenue over the forecast period on account of rising infrastructural developments across the globe
  • Market growth declined in 2020 owing to sluggish demand from the end-use industries caused by the shutdown in manufacturing operations, which resulted in surplus product availability, and thus a decline in prices

Non-ferrous Scrap Recycling Market Worth $308.5 Million By 2027

The global non-ferrous scrap recycling market size is anticipated to reach USD 308.5 million by 2027, expanding at a CAGR of 2.8%, according to a new report by Grand View Research, Inc. The growth of the market is attributed to increasing consumer awareness pertaining to recycling coupled with the rising production of secondary metals.

The primary production of metals is a capital intensive procedure and consumes lots of energy. Usage of scrap in metal production reduces manufacturing costs and energy consumption, making secondary metal production both economically and environmentally friendly. This compels the manufacturers to opt for secondary production, giving rise to more demand for scrap metal.

Based on metal, the market has been segmented into aluminum, copper, lead, and others. There are various types of non-ferrous metals of which aluminum and copper account for a higher share owing to their phenomenal properties. Such properties propel their use in various applications including construction, automotive, and consumer goods industries. As a result, these three sectors are the major contributors to the generation of non-ferrous metal scrap.

Aluminum is extensively used in the construction industry owing to its lightweight characteristics in various structures such as roofing, walls, door and window frames, and even handles. Its usage is increasing in the automotive industry as well in vehicle body frames. The metal has a high recovery rate from both the construction and automotive sectors, which makes its largest segment, in terms of volume, of the global market.

Non-ferrous accounts for a higher revenue share than ferrous scrap in the overall market owing to their high prices. However, the spread of the covid-19 pandemic has caused the prices of the metals to decline drastically. In India, prices of aluminum and copper dropped by 5% in February 2020 from January 2020. The pandemic caused the shutting down of manufacturing operations and restricting transportation, which resulted in low demand for these metals, resulting in a decline in prices.

Construction and automotive are major shareholding sectors in terms of scrap generation; however, their growth rate is less when compared to consumer goods. Household appliances and other consumer goods have a short lifespan than structures and vehicles, owing to which these products tend to turn into scrap faster than products of the other sectors.

Asia Pacific accounted for the largest volume share in 2019 and this trend is anticipated to continue over the forecast period. The growth is augmented towards Japan, India, and Southeast Asian countries, which are taking efforts in improvising their recycling industry. The nations are inviting investments for the industry to propel market growth. For instance, in 2019, Jiangxi Copper Co. announced its plan to build a plant for producing refined copper in Malaysia, where scrap shall be used as a key raw material.

The growth of the non-ferrous scrap recycling industry is expected to be further propelled by government initiatives. For instance, on March 27, 2020, the Indian Ministry of Mines released a Draft National Non-Ferrous Metals Scrap Recycling Policy for emphasizing on the underdeveloped non-ferrous scrap recycling sector in the country. India is a huge hub of scrap generation; however, due to unorganized nature and less consumer awareness towards recycling, the country majorly relies on imports for its consumption. Such policies are expected to address the issues pertaining to recycling in the country.

The market is both highly competitive and unorganized in nature. The COVID-19 pandemic has largely impacted market growth and players of the industry as of 2020. Factors like shortage of workers, no demand from manufacturing plants, no inflow of scrap in yards owing to social distancing, and transport restrictions have led to the shutdown of many recycling centers. As of March 2020, non-ferrous scrap processors in China reduced their operating capacity to 40-50% owing to declining orders.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/non-ferrous-scrap-recycling-market

Further key findings from the report suggest:

  • Asia Pacific held the highest revenue share of over 45.0% in 2019 owing to increasing investments and initiatives towards generation and processing of non-ferrous scrap in the region
  • Automotive is anticipated to witness a CAGR of 2.9%, in terms of revenue, over the forecast period owing to the rise in the number of discarded vehicles every year across the globe
  • Copper held the largest revenue share of over 56.0% in 2019 owing to its high price compared to other metals and its increasing demand from construction and consumer goods sectors
  • Construction held the largest volume share of 36.0% in 2019 owing to high consumption of non-ferrous metals like aluminum, copper, and zinc in infrastructural developments and high recovery rate of these metals
  • Considering the increasing demand for non-ferrous metals, investments in the industry are evident. For instance, in March 2018, Meldgaard opened its facility in Denmark for recycling ash and heavy metal processing.