Aluminium metals market is anticipated to earn a 5.33% CAGR growth all throughout the estimated period and earn a total revenue estimate of USD 132.7 million by the end of the year 2030.
Aluminium Metals Market Overview
Aluminium metals market is anticipated to earn a 5.33% CAGR growth all throughout the estimated period and earn a total revenue estimate of USD 132.7 million by the end of the year 2030. Aluminum (Al) is a lightweight silvery-white metal and is the most abundant metallic element in Earth's crust and the most widely used non-ferrous metal. The aluminum market is segmented by processing type and end-user industry. By processing type, the market is segmented by castings, extrusions, powder, rods and bars, and sheets and plates. The end-user industry segmented the market by automotive, aerospace and defense, building and construction, electrical and electronics, packaging, industrial, and other industrial equipment. Aluminum is the second most vastly used metal with high demand. It is widely used in windows, curtain walls, roofing, solar shading, panels, railings, and other structures.
Aluminum is among one of the most used metals and is the most abundant metal in the Earth's crust; and is commonly mined and extracted from bauxite. Aluminum Metals Industries have been very successful globally. Most of the aluminum metal is consumed by the automotive sectors, the electrical & electronics fields, the aerospace industry, and the building & construction, accelerating the nation towards research and development.
COVID 19 Impacts and effects
aluminium metals market growth has been influenced by the COVID-19 outbreak that has spread all across the world; businesses of several types are starting to show the major signs of distress. The aluminium industry outlook is not an exception; it is used in some medical devices that currently witness very high demand and favours advanced P.C.B.s to function properly. The most affordable among these devices is the daily ventilators, which are being highly operated to back major life functions in susceptible COVID-19 patients with respiring. There has been a fast need for the production of ventilators is projected to contribute to the growth of the world aluminium market. The quite less essential electronic devices that also might use aluminium-based core mechanisms are projected to forecast a little downturn in demand, such as the most smartphone gadgets are backed by P.C.B.s, and there is a final indication of a major slowdown in the total production of these mechanical devices as a result of the fast contagion
Cumulative Growth Analysis
The primary market claims to have a revenue of USD 132.7 million by the end of the year 2030 and a 5.33% CAGR over the estimated period (2022- 2030). The requirement for this vast concept has risen because companies are conscious now. The different Asian and North American major countries are focusing on spreading the production to meet the given targets and deal with innovative technologies effectively.
Value Chain Analysis
The global aluminium metals market is impressive; famous companies are manufacturing it. It is a modern concept. Unbelievably high in demand, super low-slung looks that can give the consumer a unique experience. The best products provide a perfect construction, thus, has offered less strain on the demand
By Sales Channel
The companies are creating new avenues, and this concept of coating is gaining momentum. The processes are dynamic now, so the concept is evolving every day. To meet the global supply chain and the latest technology services criteria, the major companies are getting agreement to grow and work together. Organizations that are active in the making of different launches have an advanced solution sanctioning that can proactively change the functions.
On the basis of segment of product types and its varieties, production of aluminium, revenue, price, market share and growth rate of each type, primarily divided into:
On the basis of a segment of end users/applications and its varieties, the total application is primarily divided as applications/end users, consumption (sales), market share and growth rate for each application, including:
On the basis of Type
On the basis of Product
On the basis of division of Region
The major companies who are operating in the aluminium market are:
As per aluminium metals market analysis, the entire region of Asia Pacific dominated the Global Market and has registered the largest share of the market in the year 2016. The Asia Pacific market is again followed by countries like Europe and North America. Moreover, the market is huge and will witness major growth during the estimated period with a rising concentration of end-user segments for real aluminium demand in the global region coupled with a major expansion of primary producers of aluminium and its alloys in the region. Over the estimated period, the regions of Middle East & Africa are projected to offer several lucrative opportunities for coated abrasives because of the new construction latest activities in the region and carrying trend of industry bifurcation to non-oil manufacturing advanced sectors, with respect to major declining crude oil prices.
June 7 (SMM) – The average operating rate across major aluminum processing enterprises are increased by 4.6 percentage points from a week ago to 66.3% as of June 2. The aluminum extrusion sector saw four consecutive weeks of growth due to the improved pandemic.
February 2022 -The Sierra Aluminum has been expanding its anodizing, painting, and extrusion capacity by adding a greenfield unit in Mexicali, Mexico, and investments in its California facilities. The facility is scheduled to be completed by 2023 with an updated version and an additional extrusion line.
January 2022 - The reputed Romanian aluminum developer also aims to resume electrolytic aluminum production by 2023. The company has further planned to announce the future manufacturing to substitute the two hall electrolysis while working.
|Market Size||2030: USD 132.7 million|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Product, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Alcoa Corporation (U.S.), Rio Tinto (Australia), RUSAL (Russia), Norsk Hydro A.S.A. (Norway), Dubai Aluminum Company Limited (U.A.E), Aluminum Bahrain B.S.C. (Bahrain), Century Aluminum Company (U.S.), Vedanta Ltd. (India), China Aluminum Corporation (China), China Hongqiao (China), H.P. (Australia), East Hope Group (China), Emirates Global Aluminum (U.A.E.)|
|Key Market Opportunities||The aluminium metals industry is characterized by the semiconductor manufacturing explosion and is observed|
|Key Market Drivers||Public transportation, construction sector, packaging, and electrical industries are major consumers|
The aluminium metals market is predicted to grow at a 5.33% CAGR between 2021-2030.
The global aluminium metals market is predicted to touch USD 132.7 million by 2030.
Asia Pacific is predicted to dominate the aluminium metals market.
Growing demand for aluminium in the automotive, aerospace, rail, and marine industries are boosting market growth.
Key players have used strategies such as collaborations, product launches, partnerships, and mergers to create a niche in the market.