The Base Metals Market size is estimated at 132.13 Million tons in 2024, and is expected to reach 158.60 Million tons by 2029, growing at a CAGR of 3.72% during the forecast period (2024-2029).
The COVID-19 pandemic negatively impacted the market. This was because of the shutdown of the manufacturing facilities and plants due to the lockdown and restrictions. Supply chain and transportation disruptions further created hindrances for the market. However, the industry witnessed a recovery in 2021, thus rebounding the demand for the market studied.
The Base Metals Market is fragmented in nature. The major players in this market (not in a particular order) include Glencore, Freeport-McMoRan, Alcoa Corporation, Lundin Mining Corporation, and BHP, among others.
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