Summary - A new market study, titled “Global Aluminum Market Size study, by Type (Primary and Secondary), By Product (Flat Rolled, Castings, Extrusions, Forgings, Pigments & Powder, and Rod & Bar), By Industry (Transport, Building & Construction, Electrical Engineering, Consumer Goods, Foil & Packaging, Machinery & Equipment, and Others), and Regional Forecasts 2020-2027” has been featured on WiseGuyReports.
Global Aluminum Market is valued approximately at USD XX million in 2019 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2020-2027. Aluminum is an electronegative metal with a heavy oxygen affinity. It is commonly used in food & packaging and pharmaceutical industry because it is non-toxic in nature, protects food for a extended period of time.. Aluminum is a good electrical conductor and is therefore often used in electrical transmission lines. In addition, due to its high volumetric energy density, it is used as the primary propeller for the solid rocket booster engine in the space shuttle. Corrosion resistance, reflectivity and recyclability are other characteristics of aluminum which make it a favored option for various industrial applications. The growth of the global aluminum demand is propelled by innovations in the transport sector, technical improvements in aluminum production technology and processing machinery, and a rise in the use of aluminum in different sectors, such as building and foil and packaging. However, growing rivalry from competitors and volatility in the price of raw materials, such as alumina, are some of the factors restricting the development of the aluminum industry. Rise in demand from developing economies such as China and India and expanded usage of recycled aluminum goods globally offers attractive prospects for business expansion. As per the Aluminum Association Industry Statistics, in 2017 in US the aluminum generation was 1.4% of the total Municipal Solid Waste generation accounting at 3.8 million tons. This waste includes 1.9 million tons of aluminum from durable and non-durable goods. Lowering energy needs is one of the big obstacles confronting the aluminum industry. Another factor that is expected to drive the growth of the global aluminum market is the shift in the food & beverage industry towards packaged food, particularly in developing markets such as India, China and Brazil.
The demand for aluminum in the packaging industry is expected to increase due to the rapid spread of processed food and beverage products in developing countries. As per the Aluminum Association Industry of the total 3.8 million tons of aluminum waste generated by US in 2017 1.9 million tons was from aluminum containers and packagings. However, it is expected that fierce competition from alternative materials such as glass and plastics will hinder the growth of the aluminum market during the forecast period. Amidst the COVID-19 Pandemic, the decline in import and export of raw materials have resulted in the shutdown of various production and manufacturing units. Even before Covid 19, the London Metal Exchange had stressed the sale price of metal ($1,750 / ton), which is now down to a low of $1,440 / ton, making 90 per cent of the world's smelters unworkable. Without some government funding, aluminum producers would have to close down the factory.
The regional analysis of global Aluminum market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading region in terms of growth due to massive urbanization, income growth for urban people and rapid industrial development. In addition, continuous advances in the transport sector and ongoing R&D activities to develop innovative, more efficient and cheaper aluminum products are driving the growth of the market.
Major market player included in this report are:
Rio Tinto Alcan Inc.
Norsk Hydro ASA
Dubai Aluminum Company Limited
Aluminium Bahrain B.S.C
Century Aluminium Company
Aluminium Corporation of China Limited (CHALCO)
BHP Billiton Limited
Emirates Global Aluminum PJSC
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Pigments & Powder
Rod & Bar
Building & Construction
Foil & Packaging
Machinery & Equipment
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Aluminum Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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