Aluminum Market Set for Rapid Growth and Trend by 2020-2030

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Status: In Progress  |  Genre: Other  |  House: Booksie Classic

Consistent expansions of applications supported by versatile properties along with technological advancement are key drivers for Global Aluminum Market.

Aluminum Market is valued around USD 151.99 Billion in 2019 and expected to reach USD 205.72 Billion by 2030 with the CAGR of 2.70% over the forecast period.
 
Aluminum is versatile, light weight, high conductivity metal with various other properties. Due to its versatile nature along with different properties it has wide application in different industries. It is non-toxic in nature; it is also used in food & beverage as well as pharmaceutical industry as a packaging material to maintain the freshness of packed food for long time. It is widely used in electrical transmission owing to high conductivity nature along with significant strength when alloyed with other metals.
 
Browse complete report at https://www.nextmsc.com/report/aluminum-market
 
Global Aluminum Market report is segmented on the basis of type, product, and industry vertical and by regional. Based upon type, the aluminum market is fragmented into Primary Aluminum, and Secondary/Recycled Aluminum. On the basis of product, the market is categorized into Castings, Extrusions, Flat Rolled, Forgings, Rod & Bar, Pigments & Powder, Others. Based on industry vertical, the market is categorized into Transport, Building & Construction, Electrical, Hardware & Accessories, Consumer Goods, Foil & Packaging, Machinery & Equipment, Others. The regional bifurcation of countries includes North America, Europe, Asia-Pacific, and RoW which are further segmented into major countries such as U.S., UK, France, and others.
 
The aluminum market is mainly driven by the constant expanding applications in different industries along with recyclable nature. There has been significant growth in automotive industry as well as increase electrical transmission supported by excessive use in packing industry are also likely to propel market growth. In addition, technological advancement as well as increased demand of aluminum alloys owing to the versatile nature & properties has made it exceptional preference for various end users. Moreover, ongoing research & development activities along with surging demand from aerospace & automotive industryare likely to contribute the overall market growth. However, fluctuating prices of raw materials and growing market competition may hinder the market growth over the forecast period.
 
The developing region such as Asia Pacific is expected to hold the major market size over the forecast period owing to the high adoption of aluminum in different industries along with high reusability. Moreover, rapid industrialization along with wide expansion of applications in the region is also likely to contribute market growth. Te developed regions i.e. North America olds second leading market size followed by Europe owing to presence of developed industries. In addition, presence of technological advancement along with growing research & development activities contributed by surge in the demand of aluminum based alloy is also expected to support the market growth.
 
The major market players profiled in the aluminum market includes Rio Tinto Alcan Inc., United Company RUSAL Plc., Alcoa Corporation, China Hongqiao Group Ltd., China Power Investment Corp., Xinfa Group Co., Ltd., East Hope Group Company Limited, Emirates Global Aluminum PJSC, Norsk Hydro ASA, Aluminium Corporation of China Limited among others.
 
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Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.
 
We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.
 
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Submitted: June 04, 2020

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