Global Transition Metals Market Size, Trends & Growth Opportunity, By Type (Iron, Titanium, Copper, cobalt, nickel, others.) By application (construction & building, automotive, marine, electronics, paints & coatings, consumer goods, others.), By Region and Forecast till 2027

Global Transition Metals Market

A transition metal is one that can produce unfilled d-orbitals in one or more stable ions. Transition metals are ductile, malleable metals that conduct heat and electricity and can produce positive ions. Copper and aluminium are the finest conductors of electricity among them. Transition metals are more electronegative than other metals and are used in a variety of industries, including electronics, construction, automotive, and paints and coatings.

Drivers: Global Transition Metals Market

The Driving Factors of Global Transition Metals Market are Growth in the steel industry, The growing demand in the hybrid vehicle market, Increasing infrastructural activities enhancement, the development of the market. Furthermore, Rapid urbanisation and population growth result in increased infrastructure and housing needs. Steel, one of the most often used building materials, is made from iron, which drives the global market.

Restraints: Global Transition Metals Market

However, the market is impacted by the impact of the Brumadinho dam disaster in Brazil (which threatened to limit nickel supply from Vale's assets) and strong demand from China's stainless-steel sector were offset by unfavourable macroeconomic consequences of the US-China trade war. The market's supply chain is affected as a result of the trade war, which is expected to stifle market growth.

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Impact of COVID-19

The coronavirus has had a negative influence on the global market for transition metals. Many manufacturing enterprises have been damaged as a result of is olated epidemics and the imposition of lockdowns in various countries. There has also been a significant drop in demand for a number of products. Only the gold market has benefited from the pandemic, as it always does when there is a larger amount of uncertainty.

Segmentation by Application:

By application, Global Transition Metals Market is further classified into construction & building, automotive, marine, electronics, paints & coatings, consumer goods, and others Transition metals are exceedingly adaptable and may be used in a wide range of applications. They are pliable and ductile in terms of versatility, making them great materials for metal-based applications. As a result, the automotive and marine industries are expected to see increased demand for transition metals. Transition metals are also used in wires and cables because they are good heat and electricity conductors, which means they have a wide range of uses in a variety of industries.

Segmentation by Type

By type, Global Transition Metals Market is further classified into iron, titanium, copper, cobalt, nickel, and others. Iron element is anticipated to lead the transition metals market. In the form of alloys, it is used in a variety of industries. For example, to make steel, iron is blended with additional elements (vanadium, tungsten, and so on). Steel is a strong and flexible structural material that is commonly used. Construction and building materials, automobiles, marine, cosmetics, and other end-use sectors all use it. Titanium has a low density and high mechanical strength when compared to steel. White pigments made from it are widely used in the paint and coatings industry.

Segmentation by Region

By Region the market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa. North America's demand for cobalt, nickel, platinum, iron, and other transition metals is expected to rise, enhancing the region's transition metal demand. Due to rising investment prospects for corporations in these immature markets and mining companies' greater focus on Asia as an R&D outsourcing destination, Asia Pacific and Europe are expected to create profitable potential for the transition metals industry.

Competitive Landscape:

Transition Metals Corp, Reliance Steel & Aluminum Co, Vedanta Resources plc, Samancor Chrome., Fortescue Metals Group Limited, Vale S.A., Teck, and Rio Tinto Group, Norilsk Nickel, Metallurgical Products India Ltd, KGHM Polska Mied? S.A., Rhenium Alloy.

Industrial Development:

Desktop Metal purchased Ti-6AI-4V titanium alloy or Ti64 in August 2021 for use in its Studio System 2 metal 3D printing platform. Ti64 is used in a variety of industries, including defence, aerospace, oil & gas, healthcare, and automotive, and is known for its corrosion resistance, tensile strength, strength-to-weight ratio, and biocompatibility.

CAA (Clean Air Act), National Environmental Policy Act (NEPA), The National Ambient Air Quality Standard (NAAQS), State Implementation Plans (SIP), New Source Performance Standards (NSPS), and National Emissions Standard for Hazardous Air Pollutants are some of the regulations that the US government has recommended for the metal industry in order to protect human health and control air quality (NESHAPs).

Market taxonomy

By Type

• Iron
• Titanium
• Copper
• cobalt
• nickel
•  others.

By Application

• construction & building
• automotive
• marine
• electronics
• paints & coatings
• consumer goods
• others.

By region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa