According to the latest report by IMARC Group, titled, “Aluminium Market Size: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“,The global aluminium market is expected to exhibit a CAGR of 5.66% during 2022-2027.
Aluminum (Al) refers to a silver-white metallic chemical element. It is durable, malleable, strong, resistant to corrosion and oxidation, lightweight, flexible, etc. Aluminum has high reflectivity and excellent electrical and thermal conductivity. It forms compounds with other chemical elements easily, thereby making it popular for use in various applications. Aluminum is widely utilized in cans, foils, electronic components, airplane parts, kitchen utensils, window frames, etc.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Aluminium Market Trends:
The increasing usage of aluminum in different end-use industries, such as construction, packaging, automotive, etc., across the globe, is primarily driving the aluminum market. Moreover, as aluminum is extensively utilized in the manufacturing of disposable cans, the escalating demand for ready-to-eat (RTE) food items and beverages is further augmenting the market growth. Additionally, aluminum finds wide applications in pharmaceutical packaging as it creates a barrier against contamination from moisture, light, air, etc., ensuring a long shelf life for the product. This, in turn, is expected to fuel the aluminum market in the coming years.
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Aluminium Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Alcoa Corporation, Aluminium Bahrain BSC, Century Aluminium Company, China Hongqiao Group Limited, East Hope Group, Emirates Global Aluminium PJSC, Kaiser Aluminium, Norsk Hydro ASA, Novelis Inc. (Hindalco Industries Limited), Rio Tinto Ltd. and Vedanta limited.
The report has segmented the market on the basis on series, processing method and end use industry.
Breakup by Series:
- Series 1
- Series 2
- Series 3
- Series 4
- Series 5
- Series 6
- Series 7
- Series 8
Breakup by Processing Method:
- Flat Rolled
- Pigments and Powder
- Rod and Bar
Breakup by End Use Industry:
- Building and Construction
- Electrical Engineering
- Consumer Goods
- Foil and Packaging
- Machinery and Equipment
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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