Round Billets Market Size
Global Round Billets Market reached USD 0.51 billion in 2022 and is expected to reach USD 0.72 billion by 2030, growing with a CAGR of 10.1% during the forecast period 2023-2030. Renewable energy from various sources is frequently required to be carried across areas, necessitating the development of transmission towers and infrastructure.

The use of round billets in the production of transmission towers is driving the market growth.

North America is anticipated to have a significant growth holding around 1/4th of the global round billets market during the forecast period 2023-2030. The market is likely to be driven by an increase in residential and non-residential building spending. According to U.S. Census Bureau, spending on single-family residential spaces reached from USD 400.5 billion in April 2021 to USD 477.6 billion in April 2022.

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Round Billets Market Trends

Expansion of Aerospace Industry
The increase in the number of fliers around the world is accelerating aircraft production and benefiting market expansion, which is driving demand for round billets for parts in the aerospace industry. Boeing delivered 302 aircraft in 2021, nearly double the amount shipped the previous year. Furthermore, Boeing stated in March 2022 that doubled the 737 Max production. 

Round Billets Market Segment Analysis

The Demand for Lightweight Materials Drives Aluminum Segment
During the forecast period, aluminum is expected to hold around 1/4th of the global round billets market. Aluminum components are appropriate for environments where safety is paramount and a lighter metal is required for energy economy or speed. Aluminum parts can be found in tractors, airplanes, automobiles, energy missiles, drilling tools and ships. 

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Key Players:-
The  major global players include Alleima, Ellwood City Forge, UBE STEEL, Deutsche Nickel, Baosteel Group, AMETEK, Emirates Global Aluminium, Hindalco, Matalco and Vista Metals.

COVID-19 Impact Analysis
Due to lockdown measures, travel restrictions and plant shutdowns, the pandemic caused disruptions in global supply networks. The delays impacted raw material availability and shipping, especially steel, which is a main material for round billets. The pandemic's global economic recession reduced demand for round billets items in industries like as automotive, aircraft, construction and oil and gas. 

Key Developments
In June 2022, Vista Metals Georgia, an independent manufacturer of Specialty Aluminum Products, started construction on a new USD 30 million casthouse expansion project at its Adairsville production location in Georgia. The initiative will help the company's ability to serve the aerospace extrusion and rolling markets.

In February 2022, Emirates Global Aluminium, UAE's largest industrial firm outside of oil and gas, stated plans to develop a 150,000-tonne-per-year aluminum recycling facility, the company's first and the largest in UAE. The factory will convert post-consumer aluminum scrap into low-carbon, high-quality billets of aluminum.

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