The Metal And Mineral Manufacturing Market Is Expected To Grow To USD 11 Tn.
The Metal And Mineral Manufacturing Market Is Expected To Grow To USD11 Trillion By 2021 According To TBRC’s Latest Report
The metal and mineral manufacturing industry comprise organizations engaged in refining, smelting ferrous and nonferrous metals from ore, pig or scrap, using electrometallurgical techniques. This industry also includes the production of metal alloys, super alloys and minerals.
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The substantial reason for the growth of the metal and mineral manufacturing market from USD9 trillion in 2017 to USD11 trillion in 2021. This is due to technological advances and new product developments at competitive prices driving the metal and mineral manufacturing market.
The market can be easily split into metal manufacturing, mineral product and metal product out of which metal manufacturing comprises of more than two-fifth of the market shares and rest of the market is shared mostly equally by mineral product and metal product.
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China was the largest country in the metal and mineral manufacturing market in 2017, accounting for one-third of the market share. This is due to the large automobile and telecom manufacturing market in the country followed by USA and Japan.
The top five competitors in the market made up nearly 2% of the total market share in 2017. Arcelor Mittal was the largest competitor with nearly 1% of the market, followed by POSCO, Nippon Steel & Sumitomo Metal, LafargeHolcim, JFE.
ArcelorMittal S.A. (French pronunciation: is a Luxembourg-based multinational steel manufacturing corporation headquartered in Boulevard d’Avranches, Luxembourg. It was formed in 2006 from the takeover and merger of Arcelor by Indian owned Mittal Steel.[2] ArcelorMittal is the world's largest steel producer, with an annual crude steel production of 98.1 million tons as of 2014.[3]It is ranked 123 in the 2017 Fortune Global 500 ranking of the world's biggest corporations.
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