Aluminum Market Overview:
The Global Aluminum Market was valued at USD 163.5 Billion in 2018 and is expected to register 6.5% CAGR during the forecast period and reach a value of USD 235.8 Billion by 2025.
Driven by constant technological upgradation and need for eco-friendly measures, end-users are now looking at aluminum as the choicest alternative. Its wide range of features such as good corrosion and oxidation resistance, high electrical and thermal conductivity, low density, high reflectivity, and reasonably high strength have made it popular among many verticals. The prospect, hereon, has only been bettered by its effective resistance to different temperatures and moisture standards. An added benefit such as a face-centered cubic structure (FCC) of pure aluminum and its alloys increases its strength and ductility.
Aluminum Market Key Findings:
Aluminum Market is projected to reach USD 221.14 Bn by 2025 at a CAGR of 6.48% during the review period 2018-2025. 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 2025 due to growing end-use industries in this region.
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Aluminum Market Key Players:
The key players profiled by MRFR that are operating in the global aluminum market are;
• Aluminum Bahrain (Bahrain)
• Century Aluminum Company (the U.S.)
• Norsk Hydro ASA (Norway)
• Emirates Global Aluminum PJSC (UAE)
• Rio Tinto Australia (Australia)
• Rio Tinto Alcan Inc. (Canada)
• Hindalco Industries Limited (India)
• BHP Billiton Aluminum Australia Pty Ltd. (Australia)
• Aluminum Corporation of China (China)
• China Hongqiao Group (China)
• Alcoa Corporation (the U.S.)
• RUSAL (Russia)
• Vedanta Ltd. (India)
Aluminum Market Regional Analysis:
Geographically, the global aluminum market has been segmented into five major regions such as North America, Latin America, Asia Pacific (APAC), Europe, and the Middle East and Africa. Among these, the aluminum market in the APAC region accounts for the major share of the global aluminum market and reach the market valuation of USD 148,966.2 Mn by the end of 2025. This region is also anticipated to project fastest growth at a CAGR of 7.05% during the forecast period. The aluminum market in the Europe region is forecasted to expand at a CAGR of 5.99% during the forecast period.
Aluminum Market Segmentation:
The global aluminum market can be segmented based on type, product, and application.
Based on type, the market can be segmented into primary and secondary. Primary segment held over 61.97% market and earned USD 93,458 million in 2017 which can go up to USD 135,867.3 million by 2025. However, the secondary segment is to register the fastest CAGR of 7.60% during this period.
Based on application, the market can be segmented into transportation, building & construction, foil & packaging, electrical, machinery & equipment, utensils, consumer goods, solar industry, hardware & accessories, and others. Transportation sector can register the highest market growth with 7.42% CAGR and reach a valuation of USD 72,354 million during the forecast period.
Aluminum Market Table of Content to be Continue…….,
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