The global metal and minerals industry is projected to reach approximately USD 8.4 trillion in 2026 and expand to nearly USD 12.8 trillion by 2035, growing at a CAGR of 4.8%.
The industry is undergoing structural transformation as it responds to commodity price volatility, supply chain realignment, and intensifying geopolitical tensions. Also, minerals and metals companies are accelerating decarbonization strategies, investing in green steel production, renewable-powered operations, carbon reduction technologies, and sustainable mining practices. In addition, ESG compliance, responsible sourcing, and circular economy initiatives are majorly shaping capital allocation decisions. As infrastructure development, electrification, and industrial expansion gather pace globally, demand for base metals, specialty alloys, and battery minerals continues to strengthen.
Critical minerals such as copper, lithium, nickel, cobalt, and rare earth elements remain vital to the global energy transition. Governments are prioritizing mineral security to support electric vehicles, renewable energy capacity, grid modernization, and battery storage systems. Western nations are pursuing supply chain diversification strategies to reduce dependency on dominant producers like China, which controls a major share of global processing capacity for several strategic minerals. In response to increase in demand, minerals operators are deploying automation, artificial intelligence, smart exploration tools, and advanced mineral processing technologies to enhance the operational efficiency and productivity across the value chain.
According to India Brand Equity Foundation (IBEF), India, being the third-largest energy-consuming country globally, continues to show a strong demand for power generation and coal consumption. At the same time, the country has committed to achieving 50% of cumulative electric power installed capacity from non-fossil sources by 2030, highlighting its dual-track energy strategy. Further, steel demand in India is set to grow by around 10%, supported by large-scale investments in roads, railways, airports, and urban infrastructure. Zinc demand is also expected to double over the next decade due to rising galvanized steel usage and infrastructure expansion, reinforcing India’s strategic importance in the global metals ecosystem.
Policy reforms are further strengthening domestic manufacturing and value addition. The Ministry of Steel introduced the Production Linked Incentive (PLI) Scheme 1.1 for specialty steel to enhance high-grade steel production and reduce import dependence. This initiative aims to elevate India’s position in the global steel value chain, aligning it with advanced steel-producing nations such as South Korea and Japan. The scheme has attracted significant investment commitments, expanded production capacity, and generated employment opportunities. Additionally, India’s mining and construction equipment sector is projected to grow robustly, driven by mechanization, policy support, and technology upgrades, positioning the country as a key growth engine in the global metals and minerals market.
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