비금속 시장 : 점유율 분석, 업계 동향과 통계, 성장 예측(2026-2031년)

According to Mordor Intelligence, the base metals market size is projected to expand from 137.05 Million tons in 2025 and 141.52 Million tons in 2026 to 169.87 Million tons by 2031, registering a CAGR of 3.72% between 2026 to 2031.

This report is Segmented by Source (Primary Mining and Secondary (Recycled) Metals), Metal Type (Copper, Aluminium, and More), End-User Industry (Construction, Automotive and Transportation, Electrical and Electronics, Consumer Products, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons).

Global Base Metals Market Trends and Insights

Expanding Copper Demand for EV Wiring and Charging Infrastructure

Each battery-electric car needs 83 kg of copper, nearly four times the 23 kg required in internal-combustion models. Rapid charger installations add another 8 kg per unit, and grid reinforcement adds 15-20 kg per charging point, compounding demand. China installed 1.1 million public chargers in 2025, and Europe added 420,000, together creating 180,000 tons of incremental copper pull that year. Transformers now have 18-24-month order backlogs, pushing a slice of copper demand into future quarters. Offtake agreements linked to national infrastructure programs help producers lock in volumes at premium terms, protecting margins amid volatile spot treatment charges.

Infrastructure Stimulus in Emerging Economies

India's USD 1.4 trillion National Infrastructure Pipeline earmarks 38% for power generation and transmission, implying uptake of 2.8 million tons of copper and 4.1 million tons of aluminium by 2030. Southeast Asia added 620 MW of new data-center IT capacity in 2025, with every megawatt requiring 12 tons of copper, underscoring a new, durable demand vector. Saudi Arabia's NEOM will deploy 26 GW of renewables by 2030, soaking up 340,000 tons of aluminium and 85,000 tons of copper. Compared with earlier stimulus cycles that favored steel and cement, today's programs prioritize electrification, extending replacement cycles and boosting margin potential for diversified miners. Mid-tier operators positioned near fast-growing emerging markets stand to gain share at the expense of incumbents locked into decelerating regions.

Rising Carbon Pricing on Energy-Intensive Smelting

Europe's Carbon Border Adjustment Mechanism levies EUR 90 per ton of CO2 on imported aluminium, inflating Chinese and Russian billet costs by USD 400-500 per ton. Norsk Hydro curtailed 120,000 tons at its Slovalco smelter in 2025 when power prices hit EUR 150/MWh, despite premium product pricing. China's ETS expanded to aluminium and copper in 2025, allocating emissions permits below historic intensity, compelling smelters to buy offsets or adopt renewables. Retrofitting cells is technically feasible, but grid-tie lead times of 3-5 years delay decarbonization. Hydro- and geothermal-powered smelters in Iceland, Quebec, and the U.S. Northwest now earn USD 200-300 per ton margin premiums over coal-based rivals.

Other drivers and restraints analyzed in the detailed report include:

1. Aluminium Substitution in Automotive Lightweighting
2. Strategic Stockpiling for Critical-Mineral Security
3. Trade-Policy Volatility and Supply-Chain Disruptions

For complete list of drivers and restraints, kindly check the Table Of Contents.

Segment Analysis

Secondary metals expanded 4.91% CAGR from 2026 to 2031, beating the overall base metals market growth as carmakers and electronics firms sign long-term scrap pacts to hit scope-3 targets. Primary mining still dominated at 74.60% of 2025 volume but is grappling with 12-15-year permitting cycles and rising energy costs, squeezing margins and delaying new output. Recycled copper reached 2.8 million tons in 2025, representing 38% of end-of-life vehicles and appliance collections. The International Copper Study Group forecasts recycled feed will cover 35% of demand by 2030, reinforcing the medium-term appeal of circular supply loops.

Recycling aluminium consumes 95% less energy than smelting, offering a cost hedge of USD 800-1,000 per ton at power prices above USD 80/MWh. Glencore's Italian battery-recycling hub will process 25,000 tons of packs yearly, supplying 15% of its refined nickel output by 2028 and illustrating how the base metals market size for closed-loop nickel is set to accelerate. Lead already sources 85% of tonnage from spent batteries, a blueprint copper and aluminium are replicating through deposit-return schemes in the EU and California. Scrap availability is the main bottleneck; EV batteries last 12-15 years, so a wave of black-mass supply will not crest until the early 2030s.

Complete Report Scope:

• By Source
  • Primary Mining
  • Secondary (Recycled) Metals
• By Metal Type
  • Copper
  • Aluminium
  • Zinc
  • Nickel
  • Lead
  • Tin
• By End-user Industry
  • Construction
  • Automotive and Transportation
  • Electrical and Electronics
  • Consumer Products
  • Medical Devices
  • Other End-user Industries
• By Geography
  • Asia-Pacific
    • China
    • India
    • Japan
    • South Korea
    • Australia
    • ASEAN Countries
    • Rest of Asia-Pacific
  • North America
    • United States
    • Canada
    • Mexico
  • Europe
    • Germany
    • United Kingdom
    • France
    • Italy
    • Spain
    • NORDIC Countries
    • Russia
    • Rest of Europe
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Middle-East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Qatar
    • South Africa
    • Nigeria
    • Egypt
    • Rest of Middle-East and Africa

Geography Analysis

Asia-Pacific retained 49.81% of tonnage in 2025 and will deliver a leading 5.29% CAGR, yet the region's outlook is bifurcated. China's demand is declining as residential starts fell 18% and local-government debt eroded stimulus headroom. India, by contrast, surged on the back of a USD 1.4 trillion public-works program that is front-loading power-grid expansion and renewables integration. ASEAN countries added 620 MW of data-center load in 2025, each megawatt calling for 12 tons of copper, turning the region into a fresh growth corridor for the base metals market.

North America is growing on the strength of the Infrastructure Investment and Jobs Act and the Inflation Reduction Act, both of which incentivize local sourcing of metal for grids and EV supply chains. Europe is under structural pressure after primary aluminium output dropped 8% amid triple-digit power prices, forcing buyers to import higher-footprint billet despite carbon-border levies. Middle-East and Africa is expanding as Saudi Arabia's NEOM and Egypt's new capital city procure large volumes of aluminium and copper for energy-efficient buildings and electrified transit.

South America is paced by Brazil and Chile, yet political gridlock in Peru has delayed four copper-mine expansions, a drag that may limit regional growth. Freight markets are adapting: miners are switching from Capesize vessels to smaller Panamax routes to hit India's shallow-draft ports, a shift that could raise per-ton shipping costs by 7-9% but speed cycle times by two weeks. Logistics recalibration is becoming a competitive differentiator in the base metals market as demand centers re-map toward India and ASEAN.

1. Alcoa Corporation
2. Anglo American PLC
3. Aurubis AG
4. BHP
5. First Quantum Minerals Ltd.
6. Freeport-McMoRan
7. Glencore
8. Grupo Mexico
9. Jiangxi Copper Corporation
10. Jubilee Metals Group PLC
11. Lundin Mining Corporation
12. Norilsk Nickel
13. Norsk Hydro ASA
14. Rio Tinto
15. Sumitomo Metal Mining Co., Ltd.
16. Vale S.A.
17. Vedanta Resources Limited
18. Zijin Mining Group Co. Ltd

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 Introduction

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 Research Methodology

3 Executive Summary

4 Market Landscape

• 4.1 Market Overview
• 4.2 Market Drivers
  • 4.2.1 Expanding copper demand for EV wiring and charging infrastructure
  • 4.2.2 Infrastructure stimulus in emerging economies
  • 4.2.3 Aluminium substitution in automotive lightweighting
  • 4.2.4 Strategic stockpiling for critical-mineral security
  • 4.2.5 Improved mining, processing and recycling capabilities
• 4.3 Market Restraints
  • 4.3.1 Rising carbon pricing on energy-intensive smelting
  • 4.3.2 Trade-policy volatility and supply-chain disruptions
  • 4.3.3 Environmental and community-consent pressures
• 4.4 Value Chain Analysis
• 4.5 Porter's Five Forces
  • 4.5.1 Bargaining Power of Suppliers
  • 4.5.2 Bargaining Power of Buyers
  • 4.5.3 Threat of New Entrants
  • 4.5.4 Threat of Substitutes
  • 4.5.5 Degree of Competition

5 Market Size and Growth Forecasts (Volume)

• 5.1 By Source
  • 5.1.1 Primary Mining
  • 5.1.2 Secondary (Recycled) Metals
• 5.2 By Metal Type
  • 5.2.1 Copper
  • 5.2.2 Aluminium
  • 5.2.3 Zinc
  • 5.2.4 Nickel
  • 5.2.5 Lead
  • 5.2.6 Tin
• 5.3 By End-user Industry
  • 5.3.1 Construction
  • 5.3.2 Automotive and Transportation
  • 5.3.3 Electrical and Electronics
  • 5.3.4 Consumer Products
  • 5.3.5 Medical Devices
  • 5.3.6 Other End-user Industries
• 5.4 By Geography
  • 5.4.1 Asia-Pacific
    • 5.4.1.1 China
    • 5.4.1.2 India
    • 5.4.1.3 Japan
    • 5.4.1.4 South Korea
    • 5.4.1.5 Australia
    • 5.4.1.6 ASEAN Countries
    • 5.4.1.7 Rest of Asia-Pacific
  • 5.4.2 North America
    • 5.4.2.1 United States
    • 5.4.2.2 Canada
    • 5.4.2.3 Mexico
  • 5.4.3 Europe
    • 5.4.3.1 Germany
    • 5.4.3.2 United Kingdom
    • 5.4.3.3 France
    • 5.4.3.4 Italy
    • 5.4.3.5 Spain
    • 5.4.3.6 NORDIC Countries
    • 5.4.3.7 Russia
    • 5.4.3.8 Rest of Europe
  • 5.4.4 South America
    • 5.4.4.1 Brazil
    • 5.4.4.2 Argentina
    • 5.4.4.3 Rest of South America
  • 5.4.5 Middle-East and Africa
    • 5.4.5.1 Saudi Arabia
    • 5.4.5.2 United Arab Emirates
    • 5.4.5.3 Qatar
    • 5.4.5.4 South Africa
    • 5.4.5.5 Nigeria
    • 5.4.5.6 Egypt
    • 5.4.5.7 Rest of Middle-East and Africa

6 Competitive Landscape

• 6.1 Market Concentration
• 6.2 Strategic Moves
• 6.3 Market Share(%)/Ranking Analysis
• 6.4 Company Profiles (includes Global level Overview, Market level overview, Core Segments, Financials as available, Strategic Information, Products and Services, and Recent Developments)
  • 6.4.1 Alcoa Corporation
  • 6.4.2 Anglo American PLC
  • 6.4.3 Aurubis AG
  • 6.4.4 BHP
  • 6.4.5 First Quantum Minerals Ltd.
  • 6.4.6 Freeport-McMoRan
  • 6.4.7 Glencore
  • 6.4.8 Grupo Mexico
  • 6.4.9 Jiangxi Copper Corporation
  • 6.4.10 Jubilee Metals Group PLC
  • 6.4.11 Lundin Mining Corporation
  • 6.4.12 Norilsk Nickel
  • 6.4.13 Norsk Hydro ASA
  • 6.4.14 Rio Tinto
  • 6.4.15 Sumitomo Metal Mining Co., Ltd.
  • 6.4.16 Vale S.A.
  • 6.4.17 Vedanta Resources Limited
  • 6.4.18 Zijin Mining Group Co. Ltd

7 Market Opportunities and Future Outlook

• 7.1 White-space and Unmet-need Assessment
• 7.2 Increased Demand for Clean Energy Technologies