Aluminium Metals Market Are Projected To Increase At A CAGR Of 6% During 2023 – 2030

The aluminium metal market has experienced a steady period of growth since its discovery. Market Research Future which specializes in market reports related to the chemicals and materials sector amongst others lately published a report on this industry. Aluminium Metals Market Size was valued at USD 150 Billion in 2022. The Aluminium Metals market industry is projected to grow from USD 175 Billion in 2023 to USD 250 Billion by 2030, growth rate CAGR of 6.00% during the forecast period (2023 – 2030).

Due to the widespread availability and abundance of the metal, have led to the presence of this metal in diverse applications. Applications of aluminium have also significantly contributed to the increase of the metal extraction. The characteristics of the metal such as light weightedness, flexiblity and malleability have led to the incorporation of the product in diverse industry.

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Industry Segments

The industry for aluminum is divided into the following categories for better perspective of the market and its development.

By Application:  Construction, Machinery & Equipment, Consumer Goods, Foil & Packaging, Automotive & Transportation, Electrical and Others

By Regions: Asia-Pacific, North America, Latin America, Europe and Middle East & Africa

By Types:  Recycled Aluminium and Primary Aluminium

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Detailed Regional Analysis

The Asia-Pacific region controls the aluminium metals industry both in terms of value and volume and will be expected to grow considerably at a CAGR per cent of 5.3 approximately. China is the chief income producing country due to growing consumption of aluminium metals across diverse industries and great export levels of aluminium. Europe is the second biggest market share in the international aluminium metals market.

Global Competitive Analysis

The sector’s substantial transformation due to the rapid growth pace has led to experimentation with many plus points. The competitors in the industry are trying to increase their market share to a considerable size by the effectual employment of their major resources to start growth transformations which can be long lasting.  This approach has allowed for trends which are linked to development and are notably volume driven. This has led to a boost in diverse ranges and product forms. The industry’s long term growth can be utilized upon by constant ongoing process improvements and sustaining financial fluidity to spend in the best strategies when they are available.

The important players in the market are Aluminium Corporation of China Ltd., Emirates Global Aluminium PJSC, RUSAL, Rio Tinto Alcan Inc., Alcoa, Inc., China Hongqiao Group Limited and Norsk Hydro ASA.

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Industry Updates:

February 2022:
Sierra Aluminum announced the expansion of its anodizing, painting, and extrusion capacity by adding a greenfield unit in Mexicali, Mexico, and investments in its California facilities.

January 2022
: Romanian aluminum developer, Alro announced that it aims to resume electrolytic aluminum production by 2023.

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