Aluminum Market Overview:
Aluminum Market is estimated to reach USD 221,132.84 Mn by the end of 2023, expanding at a CAGR of 6.48% during the forecast period.
Aluminum Market is projected to grow significantly on account of increasing demand from major end uses such as transportation, building & construction, and industrial machinery. The global automotive market is estimated to grow at higher CAGR to mark over USD 90 Billion revenue in 2018.
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Aluminum Market Key Players:
Aluminum Market includes are: United Company Rusal, Aluminum Corporation of China Limited, Alcoa Inc., BHP Billiton GroupRio Tinto, Norsk Hydro Asa, Century Aluminum Company, Rio Tinto, China Hongquiao Group Limited, Aluminum Bahrain B.S.C. and Hindalco Indsutries Limited.
Aluminum Market Key Findings:
Aluminum Market is projected to reach USD 221.14 Bn by 2023 at a CAGR of 6.48% during the review period 2018-2023. The Asia-Pacific market is accounted for the largest share and estimated to grow at CAGR of 6.69% to reach USD 141.95 Bn till 2023 due to growing end-use industries in this region.
Aluminum Market Segmentation:
Aluminum Market is majorly segmented on the basis of types, and end-use. Based on the type the market is segmented into wrought aluminum alloy and Cast aluminum alloy. Further on the basis of function the market is classified into Transportation, Automobile, Packaging, and Building &Construction
Aluminum Market Regional Analysis:
Aluminum Market mainly includes automotive and construction industries due to better and modern lifestyle which is followed in Asia Pacific and North America.
China’s aluminum production has grown rapidly. In 2010, China produced 7.7 Million Tons of aluminum, and has an average annual growth rate of 15% with respect to contributing in the growth of the aluminum market in the last ten years till 2018. Although China is the world’s largest producer and consumer of aluminum, it is not a major exporter or importer of aluminum (although it does export value-added products such as extrusions). In 2018, Russia was the world’s largest exporter of aluminum, exporting 3.4 Million Tons, which accounts for 18 % of the total export of aluminum globally. The world’s largest importer in 2018 was Germany, which imported 2.59 Million Tons which is equivalent to 11 % of the world’s total imports.
Aluminum Market Competitive Analysis:
Aluminum is a consolidated market with 80% market being controlled by the top ten players operating in the market, the competition is moderate among the players. Furthermore, almost all the aluminium manufactures are upstream integrated and owns bauxite mines for raw material sourcing, which is an advantage for existing players in the aluminium metals market. Strategies adopted by the players in the market include product development and expansion among others. For instance, RUSAL expanded its aluminium value added products output by adding a “Properzi” rolling mill into operation at its Kandalaksha Aluminium Smelter facility. The company invested USD 19.8 million in the new equipment capable of producing 50 KT aluminium value added products per annum.
Aluminum Market Table of Content:
1. Report Prologue
2. Scope of the Report
3. Research Methodology
4. Market Dynamics
5. Market Factor Analysis$
Aluminum Market Table of Content to be Continue……,
Complete List of Tables and Figures @ https://www.marketresearchfuture.com/reports/aluminum-market-2031
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