Metals are vital commodities due to their widespread applications in diverse industries. The largest market segments include precious, base, and ferrous metals, which can be used from industrial manufacturing to jewelry design. In particular, metal manufacturing plays an essential role in infrastructure development, building construction, car manufacturing, and shipbuilding. The steel industry is among the most lucrative subsectors of the field, spearheaded by China.
Since steel is also among the most commonly recycled commodities, over-capacities and net zero targets, have caused profits at steel producers to shrink. Continuing uncertainty sparked by global issues, such as COVID-19, the Russia-Ukraine war, and spiking energy prices, further exacerbated the challenges faced by companies. In 2022, demand for crude steel products was estimated at around 1.8 billion metric tons globally, slightly lower than 2021 figures.
China is the major player in the global metal industry, producing over half of the worldwide steel output despite facing heavy consequences from the Russia-Ukraine war and supply-chain disruptions. Rising global energy prices and China’s net zero-COVID policy led to many production stoppages and even plant closures. Even though the country has been dealing with various bottlenecks, China outperformed its competitors with one billion metric tons of crude steel production in 2022.
The metals category provides information on metal fabrication, sales, and revenue. The products covered include ferrous and non-ferrous metals, precious metals, and base metals. Within this sector, Statista provides information about the key metal products and the business activities of manufacturers. Statista further includes insights on recycling, employment, and environmental factors impacting the industry. All of this information is complemented with manufacturer rankings.