Non-ferrous metals are used as raw or subsidiary materials to make products in virtually all manufacturing segments. Their use has further expanded into high-tech electronic and IT industries in recent years. In particular, their consumption has sharply increased in developing countries where high economic growth continues, with new infrastructure being built alongside active industrial production.
Industry expected to post CAGR of 7% over 2015-2020 driven by increasing steel production in India and capacity additions in aluminium industry. Turnover of basic precious and non-ferrous metals rises by 8% driven by 16% growth of precious metals. In 2015, steel production value increases by 12% boosting demand for non-ferrous metals such as zinc and tin. Imports of precious metals rise by 27% to Rs740 billion in 2015 driven by increased imported volume of gold and silver. Indian basic precious and non-ferrous metals market rises by 8.3% driven by increased demand for precious metals gold and silver.
Indian demand for non-ferrous metals is expected to grow at 8 per cent between 2016 and 2021. Non-ferrous metals include metals like aluminium, copper, zinc and lead that find application in many industrial and infrastructural uses like real estate, automotive, defence, rail, power etc.
The expected demand growth in the non-ferrous metals industry is even better than the healthy trend observed in the last five years, “Over 2016-17 to 2021-22, the demand for these metals is expected to grow by around 8 per cent in line with strong economic prospects, thrust on manufacturing sector, healthy growth in key end-use segments further aided by rising usage intensity,
Global non-ferrous metals market and is expected to reach 107 million metric tons by 2020. The growth in this region is attributed to the increasing consumption of non-ferrous metals in India, China, and Japan.