IMARC Group, a leading market research company, has recently releases report titled “Aluminium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global aluminium market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the aluminium market?
The global aluminium market is expected to exhibit a growth rate (CAGR) of 5.4% during 2023-2028.
What is aluminium?
Aluminium (Al) is a lightweight, non-ferrous metal with a silvery-white appearance. It is extracted through the Bayer process, where bauxite ore is refined to obtain Al oxide, which is then smelted using the Hall-Heroult method to get pure Al. It offers excellent strength, durability, flexibility, malleability, and resistance to corrosion and oxidation. It also boasts superior reflectivity and high electrical and thermal conductivity. It is used in various applications due to its ability to form compounds with other elements. As a result, aluminium finds extensive applications in the production of automobiles, smartphones, tablets, personal computers (PCs), refrigerators, and other electronic devices across the globe.
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What are the growth prospects and trends in the aluminium industry?
The global aluminium market is primarily driven by increasing product utilization in the food and beverage sector to manufacture packaging containers due to its non-toxic nature, extended food preservation, and anti-microbial properties. Moreover, rising product utilization in modern vehicle production for manufacturing wheels, engines, chassis, and other parts has led to better fuel economy, efficiency, and lightweight, thereby positively influencing the market growth. Furthermore, the increasing use of aluminum in the construction industry for producing windows, curtain walls, roofing and cladding, solar shading, solar panels, railings, shelves, and other temporary structures are contributing to the market growth. Other factors, including rising demand for ready-to-eat (RTE) foods, emerging pharmaceutical packaging applications, expanding consumer electronics sales, and surging construction activities, are also anticipated to create a positive market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Series Insights:
Series 1
Series 2
Series 3
Series 4
Series 5
Series 6
Series 7
Series 8
Processing Method Insights:
Flat Rolled
Castings
Extrusions
Forgings
Pigments and Powder
Rod and Bar
End Use Industry Insights:
Transport
Building and Construction
Electrical Engineering
Consumer Goods
Foil and Packaging
Machinery and Equipment
Others
Breakup by Region:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Alcoa Corporation
Aluminium Bahrain BSC
Century Aluminium Company
China Hongqiao Group Limited
East Hope Group
Emirates Global Aluminium PJSC
Kaiser Aluminium
Norsk Hydro ASA
Novelis Inc. (Hindalco Industries Limited)
Rio Tinto Ltd.
Vedanta limited.
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