10 Top Materials Stocks Of March 2024 (2024)

The largest materials stock by market cap, Linde is a chemical company specializing in the production of industrial gases, like hydrogen, oxygen and nitrogen, for everything from health care and semiconductors to beverages and jet fuel. The production of these goods requires a constant inflow of gases, leading to steady demand, consistent revenue and strong stock performance for Linde over the past decade.

The company was originally founded in Germany but now has a headquarters in Dublin, Ireland, with its executive offices located in the U.K.

BHP Group is a mining company headquartered in Melbourne, Australia, that operates mines and production facilities around the world. Its primary focus is on the mining and production of metals and minerals like copper, iron ore, nickel, and coal.

BHP had tried to expand into energy production as well, but this business line struggled, especially during the pandemic. It recently announced a plan to merge this segment with another company’s energy business so it could focus more on its core mining business.

Founded in 1902, Air Liquide is the second largest global producer of industrial gases by market cap. With a headquarters in Paris, France, it maintains operations in 78 countries, including a major site in Houston, Texas. As the name implies, Air Liquide produces gases like oxygen, hydrogen and nitrogen for healthcare and industrial purposes.

Air Liquide, Linde and Air Products (APD) dominate the market for industrial gases; together, these three companies make up roughly 80% of global market share. This helps Air Liquide maintain steady sales and revenues.

A global organization operating in 35 countries, Rio Tinto is the second largest mining company by market cap in the world, behind BHP. Rio Tinto mines materials like iron ore, aluminium, lithium, copper and diamonds.

The company first launched on the Rio Tinto River in Spain but now has its headquarters in London, England. Rio Tinto’s output and sales struggled in late 2021 due to lower prices and demand for commodities, particularly from China. If growth can rebound after the pandemic, this could help its future prospects.

Founded in 1866 in Cleveland, Ohio, Sherwin Williams is the largest coatings manufacturer in the United States. It currently makes sales to consumers through 3,954 company-owned retail paint stores as well as via mass merchandisers, home centers and independent hardware stores.

Demand for Sherwin-Williams products has been high during the pandemic, driven by more interest in home renovation projects and a strong housing sector. Sales could be potentially even higher, but it is having some trouble meeting demand due to issues in the supply chain.

Ecolab is the world’s largest producer of industrial cleaning products for a handful of industries, including manufacturing, hospitality and healthcare. In addition to its cleaning products, Ecolab sells other products and services, such as water management solutions.

With its 100-year history, Ecolab holds more than 10,000 patents and provides its products to nearly three million different customer locations in 170 countries. Ecolab is headquartered in Saint Paul, Minnesota.

Southern Copper is among the top five global copper producers, and the company also produces large quantities of gold and silver. The company’s main mining operations are in northern Mexico and Peru.

SCCO is controlled by the Mexican conglomerate Grupo México, which is among the five largest Mexican companies by market capitalization. Through its wholly-owned subsidiary Americas Mining Corporation, Grupo México owns a nearly 90% stake in Southern Copper.

Headquartered in Switzerland, Glencore is one of the world’s largest mining companies. Glencore produces metals and minerals like copper, cobalt and nickel and is also one of the largest commodity trading companies, sourcing materials from other producers, marketing them to buyers and then transporting them.

Glencore’s performance over the past 10 years has been up and down, with investor concerns over the company’s debt levels and trouble with asset sales. However, it had a very strong 2021 after moving from operating at a loss to turning a profit.

Headquartered in Brazil, Vale SA is the largest miner of iron ore and nickel in the world. The company also mines copper, coal and precious metals. With operations in 30 countries worldwide, Vale is the second largest publicly traded company in Brazil after the oil and gas producer Petrobras.

Freeport-McMoRan Inc. is among the largest public mining companies in the world. The company owns the world’s biggest gold mine—the Grasberg mine in Papua, Indonesia—and is a major producer of copper and the rare earth metal molybdenum.

The combination of rare earth metals and copper mining makes this giant a major supporter of clean-tech and the accelerating transition to a world dominated by electric vehicles (EVs). It’s also one of the biggest global gold miners.