Predominantly driven by its wide application potential, aluminium remains the second highest consumed metal worldwide, following steel. A number of end-use industries have been showcasing their inclination toward aluminium as a substitute for conventionals like copper, steel, and zinc. A recent ongoing study of Fairfield Market Research would reveal how the market growth will unfold over the period of next few years, which also highlights the fact that adoption of aluminium is majorly upheld by its superior energy efficiency, and higher sustainability. The metal can be infinitely recycled, and reused, which strengthens its position as an eco-friendly material across the key consumer sectors, including building and construction, automotive and aerospace, transportation, packaging, paints, and power generation.

Get a Sample Copy of Aluminium Market: https://www.fairfieldmarketresearch.com/report/aluminium-market/request-sample

Shift of Industries to Green Materials Favours Market Growth

With continued uptake of massive volumes of aluminium semis in form of rolled, extruded, powdered, cable, pigment, and casting products, automotive and aerospace industry will remain the prime consumer segment. The promising rise of electric vehicles will further boost market prospects. Commercial aircrafts also continue to register a sizeable share in aluminium consumption. Aluminium consumption will continue to heighten in building and construction projects, which roughly accounts for a fifth of total consumption volume, in addition civil engineering projects. A broad range of interior, and exterior applications are likely to generate sustained demand for aluminium products. The green building trend firms up, fuelling a shift to sustainable building materials. This is likely to remain a strong factor encouraging aluminium, more specifically recycled aluminium consumption. A similar mass shift has been underway in packaging industry as well as it accelerates its move away from plastics. F&B, pharma, and beauty and personal care products are predominantly leveraging sustainable attributes of aluminium-based packaging solutions.

China Remains an All-rounder for Aluminium Market Participants

As a preferred eco-friendly and lightweight material, aluminium continues to witness the maximum activity concentrated in China. While China remains the world’s most significant producer, and consumer market, China’s faster economic recovery has recently been the most differentiating booster to its market for aluminium. Following a notable glut in aluminium supply and the consecutive price drop, China is expected to witness huge capacity expansions in the near future. A majority of demand will come from automotive, and aerospace industries that are highly regulated in terms of carbon emissions. On the other side, India is also likely to exhibit attractive growth potential on the back of its exceptionally thriving construction industry and accelerating infrastructural developments.

Europe’s Sustainability Drive Augurs Well for Recycled Aluminium Demand

When it comes to the global sustainability drive, Europe has been at the forefront. European countries thus reflect strong market potential in terms of generating aluminium demand as an important part of their strategies to meet the EU’s goal of circular economy, and climate-neutrality. Key end-use industries, i.e., automotive, aerospace, packaging, and consumer electronics have also been picking recycled aluminium over other available conventional material alternatives, making the aluminium space of Europe an energy- and cost-efficient landscape.

Key Market Players

Aluminium Corporation of China Limited (CHALCO), Rio Tinto Alcan Inc., Alcoa Corporation, Hindalco Industries, Norsk Hydro ASA, China Hongqiao Group Ltd., and Global Aluminum PJSC represent some of the most prominent companies operating in global aluminium landscape. A majority of these players are integrated aluminium businesses and have been focusing on collaborative activities to push new launches. In line with growing demand for sustainability across industry, companies are likely to place greater emphasis on recycling.

For More information Visit:
https://www.fairfieldmarketresearch.com/report/aluminium-market

About Us
Fairfield Market Research is a UK-based market research provider. Fairfield offers a wide spectrum of services, ranging from customized reports to consulting solutions. With a strong European footprint, Fairfield operates globally and helps businesses navigate through business cycles, with quick responses and multi-pronged approaches. The company values an eye for insightful take on global matters, ably backed by a team of exceptionally experienced researchers. With a strong repository of syndicated market research reports that are continuously published & updated to ensure the ever-changing needs of customers are met with absolute promptness.

Contact
Fairfield Market Research
London, UK
UK +44 (0)20 30025888
USA +1 (844) 3829746 (Toll-free)
Web: https://www.fairfieldmarketresearch.com
Email: [email protected]
Follow Us: LinkedIn