Growing Construction Industry to Positively Impact Aluminium Market Growth
Description
Global Aluminum Market Research Report: Information By Type (Primary, Secondary), By Product (Flat-Rolled, Castings, Extrusions, Forgings, Pigments & Powder, Rod & Bar), By Application (Building & Construction, Transportation, Foil & Packaging, Electrical, Machinery & Equipment, Solar Industry, Utensils, Hardware & Accessories, Others) - Forecast till 2027
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Aluminium Market Analysis
The global aluminium market is likely to touch USD 235.8 billion at a 6.5% CAGR between 2019- 2025, according to the recent Market Research Future (MRFR) report. Aluminium is a widely used metal which has wide applications in utensils, consumer goods, hardware and accessories, solar industry, electrical, transportation, foil and packaging, building and construction, and machinery and equipment for its excellent features such as barrier properties, corrosion resistance, good electrical and thermal conductivity, flexibility, high strength, and lightweight.
Various factors are adding to the global aluminium market growth. These factors, as per the new MRFR report, include burgeoning demand from the building and construction and automotive industry, growing construction industry, economic growth, and rapid urbanization, and demand for high strength and lightweight materials to reduce carbon footprint and enhance the fuel efficiency of cars. Additional factors adding market growth include the rising per capita disposable income, an increase in automobile sales and production, shifting trend towards packaged food, and increasing use in the packaging industry.
On the contrary, the availability of alternatives and fluctuating raw material costs are factors that may limit the aluminium market growth.
Aluminium Market Segmentation
The MRFR report provides an inclusive segmental analysis of the global aluminium market based on application and type.
By type, the global aluminium market is segmented into primary & secondary. Of these, the primary segment will lead the market over the forecast period.
By product, the global aluminium market is segmented into pigments and powder, extrusions, castings, forgings, rod and bar, flat rolled, utensils, and others. The flat roll segment is again segmented into building sheet, lithosphere, common alloy, can body stock, foil stock, and others. The rod and bar segment is again segmented into wires and cables, aluminium conductors, and others. Of these, extrusions will dominate the market over the forecast period.
By application, the global aluminium market is segmented into utensils, consumer goods, hardware and accessories, solar industry, electrical, transportation, foil and packaging, building and construction, and machinery and equipment. Of these, the transportation segment will have a major share in the market over the forecast period.
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Report : https://www.marketresearchfuture.com/reports/aluminum-market-2031
Aluminium Market Regional Analysis
Based on the region, the global aluminium market covers the recent trends and growth opportunities across the Americas, Europe, the Asia Pacific (APAC), Latin America, & the Middle East & Africa (MEA). Of these, the APAC region will have the largest share in the market over the forecast period for the growing automotive industry, rapid industrialization, and huge investments in infrastructural and construction development. China & India are the key contributors in the region for the increasing investments in the construction sector and increasing automotive production.
The global aluminium market in Europe is predicted to hold the second-largest share over the forecast period for the growing demand for lightweight material from automotive industries and recovering economic growth.
The global aluminium market in North America is predicted to have significant growth over the forecast period for increasing production of automotive in the region and recovering construction industry.
The global aluminium market in Latin America is predicted to have moderate growth over the forecast period for the rising investment in the aerospace and automotive industry in Mexico and Brazil.
The global aluminium market in the MEA is predicted to have sound growth over the forecast period for the rapid industrial growth, growing construction industry, and presence of several oil & gas reserves in Israel, Saudi Arabia, and the UAE.
Key Players
Eminent players profiled in the global aluminium market report include Rio Tinto (Australia), China Aluminum Corporation (China), East Hope Group (China), Emirates Global Aluminum (UAE), Aluminum Bahrain B.S.C. (Bahrain), Alcoa Corporation (US), China Hongqiao (China), Dubai Aluminum Company Limited (U.A.E), Century Aluminum Company (US), Vedanta Ltd. (India), Norsk Hydro ASA (Norway), RUSAL (Russia), and BHP (Australia).
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