Transition Metals Market Size

Transition Metals Market Overview

The Transition Metals Market is anticipated to exhibit a CAGR of over 4.2% to reach around USD 1,369.46 billion by the end of 2030.

The term 'transition metals' refers to any element that belongs to the d-block of the periodic table, which includes groups 3 through 12. A transition metal is an element having a partially filled d-subshell and can produce cations with an incomplete d-sub shell on its atom. Iron, titanium, copper, nickel, manganese, cobalt, silver, mercury, and gold are some of the transitional metals having wide applications in various end-use industries such as automotive, electronic, building & construction, and paints and coatings, andothers.Iron is the most abundant metal found in Earth's solid crust, ranking fourth among all elements and second among metals in crystal abundance (after aluminum). Transition metals are generally harder, less reactive, and denser as compared to alkali metals.

Transition metalsoxides are utilized in various applications as catalyststo absorb other metals or substances onto their surface and activatethe oxidation process.

Transition metals play a vital role in human lifeas they are used in nutritional supplements, which is expected to boost the market demand in the nearer future. Various transition metals such as iron, cobalt, copper, and molybdenum are necessary to keep humans alive and healthy. Without enough iron in the bloodstream, the body cannot transport oxygen through the body. Other transition metals, like copper and cobalt, exist as trace elements in a body.

Nickel is commonly used as an alloying metal to create stainless and heat-resistant steel. It is combined with chromium and other metals to boost tensile strength, toughness, and elastic limit. Henceforth, increasing demand for nickel in the stainless-steel industry is expected to fuel the Transition Metals Market.

The impact of the Brumadinho dam catastrophe in Brazil (which threatened to restrict nickel output from Vale's holdings) and high demand from the stainless-steel sector in Chinawas countered by unfavorable macroeconomic consequences on the US-China trade war. Due to this trade war, the market’s supply chain gets disrupted and is projected to hindermarket growth.

Regulatory Framework

For the metal industry, the US government has recommended some regulations for the welfare of human health and to control air quality, including 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 (NESHAPs)

Particularly, transition metals ion is an essential micronutrient for all livingorganisms and exerts a widerange of effects on human health. Transition metals such as copper, iron, zinc, andmanganese play a crucial role in various bacterial biological activities, contributing to the bacteria's overall evolutionary fitness. Copper and zinc are used to poison the bacteria. In recent years, transition metals have been shown to have regulatory effects on the gut microbiota in a growing number of investigations. As a result, the dosage of transition metals distribution in bacteria is strictly regulated.

Impact of Coronavirus Outbreak

Globally, the COVID 19 has affected the metal industry in several ways. Operations in many companies have been harmedthrough isolatedoutbreaks and imposition of lockdowns. The demand for many commodities has decreased, with an even lower near-term demand on the horizon.

Also, the disruption caused in the rapidly developing economy of China due to COVID-19 alone is projected to have a significant impact on the economies of several other countries across the globe. One of the key exceptions of this trend has been gold, which typically benefits from a higher level of uncertainty. China's manufacturing, metal, and mining industries are likely to resume operations as the country recovers from the COVID 19 crisis.

Supply Chain Analysis

The supply chain analysis evaluates every stage and step taken by stakeholders involved throughout the production and distribution of transition metals. The supply chain includes raw materials and suppliers, transition metalsproducers, distribution channels, and end-use industries.

However, some difficulties are accentuated by a heavy production process, fluctuating demand and raw materials supply, and uncertain prices.

Market USP

Iron, cobalt, and nickel are the only metalsknown to produce a magnetic field.

Market Drivers

• Growth in the steel industry


• The growing demand in the hybrid vehicle market


• Increasing infrastructural activities

Market Restraints

• Shortage of domestic iron ore and its inefficient pricing

Segmentation

By Metal Type

• Iron: The iron segment is expected to register a significantCAGR as iron is the most abundant transition metal in the Earth's solid crust. It is widely used in construction materials, tools, vehicles, and medical applications. Iron-based catalysts are also used in the Haber process to produce ammonia from N2/H2


• Copper: Copper is a good conductor of electricity and is commonly used in electric cables. It is also used to create water pipes since it can be easily bent and does not react with water. Hence, it is expected to fuel the Transition Metals Market Demand duringthe forecast period.


• Titanium: Titanium is projected to grow at a steady growth rate in the assessment period and is expected to boost the Transition Metals Market Demand in the forthcoming years. Titanium is the second most common transition metal after iron and is used in fighter aircraft, artificial organs, and pipes in nuclear power stations.


• Nickel: Increasing demand for nickel in automotive industries is expected to push the Transition Metals Market Growth. The demand fornickel is increasing owing to its use in hybrid vehicles in batteries such as nickel-metal hydride batteries and rechargeable nickel-cadmium. Nickel is also used for high-grade steel manufacturing, which also finds uses in body structure, panels, doors, and trunk closures of automobiles.


• Others: The others segment includes cobalt, zinc, manganese, chromium, palladium, and many more that belong to the d- and f- blocks of the periodic table.

By Application

• Building & Construction: The major driver of the Transition Metals Market is the growth of the constructionindustry. Rapid urbanization and a growing population result in rising infrastructure activities and increasing housing. Steel, one of the main materials used in the construction industry, is produced from iron, thereby driving the global market.


• Automotive: Transition metals are the key ingredients in vehicles and other metal parts in the automotive industry. Increasing demand for transition metals in batteries, body structures, panels, etc., is a key driver for the transition metals in the automotive industry.


• Electronics: The electronics industry is expected to grow by around 6%during the assessment period. In the electronics industry, copper is widely used in electrical wiring because of its high tensile strength, malleability, ductility, and electrical conductivity.


• Paints &Coatings: The transition metals ion catalyzes the cross-linking of the polymer chains and produces a hard surface film to the paint. The transition metalsarepretreated to powder coating application. The pretreatment process is most often used in powder coating for aluminum extract.


• Others: The others segment includes consumer goods, marine, cookware, electrical industries, etc. In electrical industries, transition metals are used in electric toothbrushes and metal parts of refrigerants. Iron is also used in cookware because of its rigidity, high thermal conductivity, and wear resistance.

By Region

• North America: North America is projected to lead the Transition Metals Market due to significant growth in the construction, mining, and manufacturing sectors. An increase in research & development expenditure and mining activities by the major players operating in the US and Canada is expected to propel the demand for transition metals in this region.


• Europe: The growth in the automotive and electronics industries in Europe is expected to boost the Transition Metals Market Growth in the upcoming years. Europe is among the world's biggest producers of motor vehicles, and the sector represents the largest private investor in research &development.


• Asia-Pacific: Asia-Pacific is the largest producer of metals globally, led by China's growing automotive and electronics industry. The rising global demand for iron, titanium, silver, gold, and other transition metalsand their growing prices play a crucial role in the region’s industrial growth.


• Latin America: Latin America is expected to witness steady growth during the assessment period and is expected to boost the Transition Metals Market Demand inthe foreseeable period as the region is rich in metal ores, including iron ore, copper, nickel, titanium, and cobalt.


• Middle East & Africa: Growing infrastructural activities and construction projects in the Middle East &Africa are expected to create a lucrative opportunity for Transition Metals Market Growth during the forecast period.

Key Players

• Reliance Steel & Aluminum Co (US)


• Transition Metals Corp (Canada)


• Fortescue Metals Group Limited (Australia)


• Samancor Chrome (South Africa)


• Vedanta Resources plc (Canada)


• Vale S.A. (Brazil)


• Teck Resources Limited (Canada)


• Rio Tinto Group (UK) 


• Tshingshan Group (China)


• Norilsk Nickel (Russia)


• Metallurgical Products India Ltd (India)


• KGHM Polska Miedź S.A. (Poland)


• Rhenium Alloys (US)

Recent Development
Jan 2022 The first of StrategX Elements Corp.'s holdings, located on the East Arm of the Great Slave Lake in the Northwest Areas, has been revealed. StrategX's generative efforts in the region resulted in the grassroots discovery of the 939 Cobalt property in 2018. The Company is prioritizing sites to conduct a first-phase discovery drill program, which will begin once permits are received. The Company's primary emphasis is on discovering energy transition metals, which are essential for the development of a "greener" economy. Cobalt is in high demand and is a crucial component of the global supply chain for manufacturing electric vehicles and other modern technologies.
June 2021 An alliance between researchers at the University of Illinois at Chicago's College of Engineering and Washington University in St. Louis' McKelvey School of Engineering has discovered a two-dimensional alloy material consisting of five metals rather than the typical two. It has also been verified to be a good catalyst for converting CO2 into CO, a first for such material, with potential uses in environmental cleanup. This breakthrough is based on a class of minerals known as transition metal dichalcogenides (TMDCs), which combine transition metals with a chalcogen, such as selenium, sulfur, or tellurium. The term "high entropy" refers to an alloy that contains more than three metals in almost equal proportions. The name of the material developed is high-entropy transition metal dichalcogenides given by the researchers.

Leading companies partner with us for data-driven Insights

Kindly complete the form below to receive a free sample of this Report