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.
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The global metal and mineral manufacturing market has been growing in the past years with a CAGR of almost 2%. The year 2017 recorded high growth in this market with a net market value almost 6% higher than that of 2013, as per TBRC’s in-house consultants.
TBRC’s latest report show the historic and future trends in the market for each year with sourced reasons to support the growth claims.
The report also shows the global metal and mineral manufacturing market to grow at a higher CAGR by 2021 as compared to 2017, along with geographies best suited for investments with highest return rate.
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Many metal and mineral manufacturing companies are using robotics and automation to improve plant efficiency and productivity. Sensors are being used in various machines to access invaluable data for improving efficiencies and reduce potential breakdowns. For instance, according to a report by Boston Consulting Group (BCG) in 2015, 1.2 million industrial robots are expected to be deployed by 2025, thus indicating rise in automation and robotics technology adoption to improve productivity and reduce production costs.
Companies included in the report are Arcelor Mittal, POSCO, Nippon Steel & Sumitomo Metal, LafargeHolcim, and JFE.
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