Metal manufacturing
companies are increasing R&D expenditure to launch new product lines. They
are launching advanced products such as ultra-light alloys as opposed to
commodities. For instance, according to a report by KPMG in 2015, 32% of the
metal manufacturing companies spend more than 6% of revenues on R&D and 70%
of the companies are expected to invest on existing product lines. Thus,
introduction of new product lines through increased R&D spend is a
significant trend in the metal manufacturing industry.
THE BUSINESS RESEARCH COMPANY EXPECTS THE METAL AND
MINERAL MANUFACTURING MARKET
TO GROW TO $10.34 TRILLION BY 2021
Asia Pacific was the largest
region in the metal and mineral manufacturing market in 2017, accounting for
more than half of the market share. This can be attributed to the large
automobile, construction, and cement industries in the region. China is the
largest consumer of cement and the world’s leading producer of automobiles. Moreover,
high prevalence of mineral ores in the region resulted in high mineral
manufacturing activity.
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According to The Business
Research Company’s Consultant, Nitin Gianchandani, additive manufacturing (AM) is being widely used for
manufacturing a wide range of metal products. The transition of additive
manufacturing from a product development tool to production tool has been
quick. Increased investment in metal AM technology is further leading to
process improvements, lower productions costs in allied manufacturing
industries. For instance, SmartTech in 2015, estimated 89% growth in additive
metal manufacturing, thus indicating growth in additive metal manufacturing.
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Arcelor Mittal was the largest competitor in the metal and
mineral manufacturing market, with revenues of $56 billion in 2016. Arcelor
Mittal’s growth strategy is to leverage four distinctive attributes that will
enable them to capture leading positions in the most attractive areas of the
steel industry. They are: global scale and scope, unmatched technical
capabilities, diverse portfolio of steel and related businesses, particularly
mining and financial capability.
The metal and mineral
manufacturing industry comprises 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. The metal and mineral manufacturing industry includes
Metal Manufacturing companies engaged in nonferrous metal (except aluminum)
smelting and refining, copper rolling, drawing, extruding, alloying, secondary
smelting, refining, and alloying of nonferrous metal.
Metal And Mineral Manufacturing Global
Market Report 2018 is a detailed report giving a unique insight into this
market. The report is priced at $8000 for an individual user. To use across
your office, the price is $12000 and $16000 if you wish to use across a
multinational company.
About The Business Research Company
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It has research professionals at its
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The Business Research Company's
management has more than 20 years of varied business research experience. They
have delivered hundreds of research projects to the senior management of some of
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