GITNUX MARKETDATA REPORT 2024
Transition Metals Industry Statistics
Transition metals industry statistics provide valuable insights into production, consumption, and market trends of this vital group of elements.
In this post, we explore the significant role that transition metals play in various industries, particularly focusing on key statistics related to major players in the global market. From the dominance of countries like Australia, Brazil, Canada, and Russia in iron ore reserves to China’s pivotal position in steel consumption, we unravel compelling insights that shed light on the indispensable nature of these metals in the manufacturing landscape. Join us as we delve into the world of transition metals and their profound impact on the industrial realm.
Statistic 1
"More than 80% of the world's iron ore reserves are in Australia, Brazil, Canada and Russia, which together account for around 85% of the world's steel production."
Statistic 2
"In 2018, the global production of steel reached 1.81 billion metric tons, making it a crucial transition metal."
Statistic 3
"China is the largest consumer of steel, accounting for about half of the global steel consumption."
Statistic 4
"On average, the aerospace industry consumes approximately 300 million pounds of titanium annually."
Statistic 5
"In 2019, South Africa was the world's largest producer of Platinum (transition metal), producing 110,000 kg."
Statistic 6
"It is estimated that the total world reserves of Nickel, a key transition metal, amount to over 89 million metric tons."
Statistic 7
"Approximately 2.6 million metric tons of nickel was produced globally in 2020."
Statistic 8
"Global consumption of Zinc, an important transition metal used in galvanizing, was approximately 14 million metric tons in 2020."
Statistic 9
"Roughly 63% of global Zinc production is used for galvanizing."
Statistic 10
"As of 2021, the global copper market size is expected to reach USD 222.1 billion by 2026."
Statistic 11
"The global copper mining production was approximately 20 million metric tons in 2020."
Statistic 12
"Russia's Norilsk Nickel is the world's largest producer of palladium, a transition metal, with an annual production of about 3 million ounces."
Statistic 13
"The global palladium mining production was 208,000 kilograms in 2020, and it is expected to increase in the coming years."
Statistic 14
"The average price of palladium rose from 200 USD per ounce in 2016 to over 2000 USD per ounce in 2020."
Statistic 15
"The production of cobalt, a transition metal, in the Democratic Republic of Congo made up 70% of the global cobalt supply in 2019."
Statistic 16
"The total global demand for cobalt was roughly 130000 metric tons in 2019."
Statistic 17
"In 2019, the value of the global titanium dioxide market was at around 13.7 billion U.S. dollars."
Statistic 18
"The consumption of titanium dioxide in China was approximately 2.7 million metric tons in 2019."
Statistic 19
"The global market size of manganese, a crucial transition metal used in the steel industry, was valued at USD 22.35 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.0% from 2021 to 2028."
Jannik Lindner
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