According to Fitch Solutions, ordinary metals will receive a boost over the next 20 years as they are part of the green and digital transitions. Among these are copper, nickel, tin, aluminum, lithium and cobalt - metals that are crucial for creating batteries for electronic vehicles. The world is becoming more and more environmentally conscious and the demand grows for sustainable solutions.
As for zinc and iron, Fitch predicts the demand to slow down over the next few years.
This is due to the fact that China is implementing digitalization and modernization initiatives in the infrastructure sector and therefore will require lighter carbon steel.
Hydrogen Boom
Another emerging “commodity” is hydrogen which comes from renewable sources. Fitch
predicts hydrogen demand to rise from 1% to 10% by 2030. Hydrogen is expected to power operations, reduce emissions and create new opportunities for energy and mining. This emerging market is predicted to be most prominent in the US, Canada, China and Western Europe.
According to the Hydrogen Market Research Report, the hydrogen market will reach
$196 million by 2030. Another function of hydrogen, is to produce ammonia which is widely used in the manufacturing of fertilizers making it a staple in the Agriculture industry.
Although these predictions speak of the far future, the changes are slowly being implemented. Not only will these changes lead to a sustainable future, they will also create jobs and trade opportunities.
Source: Fitch solutions, mining.com