Aluminum is one of the abundant element found in the Earth’s crust after silicon and oxygen incorporated in a mineral, bauxite ore. It weighs about one-third as much as copper or steel. It is ductile, malleable, and exhibits excellent durability, corrosion resistance and significant strength when alloyed. It is widely used in automobiles, cans, foils, windows, cooking utensils and others
Aluminum is a silver-white element and belongs to group 13 of the periodic table. It is durable, light, and functional that makes the aluminum ideal as an engineering material since it is highly resistant to corrosion. Moreover, aluminum metal is nontoxic (as the metal) and nonmagnetic. It has a wide range of applications across various industries for making different products. Aerospace, construction, manufacturing, electronics, packaging, etc. are some of the major end-user industries of the aluminum. It is also used as an electrical transmission line and packaging materials such as cans and containers.
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Increasing demand from automotive sectors where reduced weight is significant for emission control, is fueling the growth of aluminum market. Furthermore, new technological advancements in aluminum is expected to drive the aluminum market growth. For instance, in May 2018, Rio Tinto and Alcoa Corporation announced a free aluminum smelting process to make aluminum which produces oxygen and eliminates emissions of all direct greenhouse gases. Apple is investing in this joint venture on carbon-free smelting process.
However, increasing presence of aluminum substitutes such as zinc and copper is restraining the growth of aluminum market.
Various manufacturers are focused towards organic and inorganic growth strategies such as mergers, acquisition and joint venture to enhance their global footprint. For instance, in February 2018, Patrick Industries, Inc. acquired assets of Aluminum Metals Company, LLC (AMC), the distributor and manufacturer of aluminum products which includes extrusions, fabricated sheets and coils. This acquisition allows them to be an expertise as a high quality supplier of a variety of customized fabricated aluminum products.
Global Aluminum Market, By Product Type:
Wire & Cable
Global Aluminum Market, By Application:
Automotive & Transportation
Electrical & Electronics
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Key companies covered as a part of this study includes, Rio Tinto Plc, Norsk Hydro ASA, UC RUSAL, Alcoa Inc., China Hongqiao Group Ltd., Aluminum Corporation of China Limited, Emirates Global Aluminum PJSC, Noranda Aluminum Holding Corporation, Aditya Birla Management Corporation Pvt. Ltd. and China Power Investment Corporation
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