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Aluminum Market Report Examines Latest Trends and Key Drivers Supporting Growth through 2023
Global Aluminum Market: Information by Type (Primary, Secondary), Product (Flat Rolled, Extrusions, Castings, Others), Application (Transportation, Building & Construction, Machinery & Equipment, Electrical, Solar, Others), and Region - Forecast Till 2023
Aluminum Market Overview:
Aluminum Market is estimated to reach USD 221,132.84 Mn by the end of 2023, expanding at a CAGR of 6.48% during the forecast period.
The Global Automotive Market is estimated to grow at higher CAGR to mark over USD 90 Bn revenue in 2018. This is anticipated to boost growth of the global aluminum market in manufacturing light yet durable automotive parts. Moreover, surging demand from electronics, packaging and consumer goods applications is expected to further boost growth of the market.
Aluminum Market Key Findings:
Aluminum Market is projected to reach USD 221.14 Bn by 2023 at a CAGR of 6.48% during the review period 2018-2023. 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 2023 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 Segmentation:
Aluminum Market is majorly segmented on the basis of types, and end-use. Based on the type the market is segmented into wrought aluminum alloy and Cast aluminum alloy. Further on the basis of function the market is classified into Transportation, Automobile, Packaging, and Building &Construction.
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 2018 which can go up to USD 135,867.3 million by 2023. However, the secondary segment is to register the fastest CAGR of 7.60% during this period.
Aluminum Market Regional Analysis:
Aluminum Market mainly includes automotive and construction industries due to better and modern lifestyle which is followed in Asia Pacific and North America.
China’s aluminum production has grown rapidly. In 2010, China produced 7.7 Million Tons of aluminum, and has an average annual growth rate of 15% with respect to contributing in the growth of the aluminum market in the last ten years till 2015. Although China is the world’s largest producer and consumer of aluminum, it is not a major exporter or importer of aluminum (although it does export value-added products such as extrusions). In 2015, Russia was the world’s largest exporter of aluminum, exporting 3.4 Million Tons, which accounts for 18 % of the total export of aluminum globally. The world’s largest importer in 2015 was Germany, which imported 2.59 Million Tons which is equivalent to 11 % of the world’s total imports.
Aluminum Market Table of Content:
1 Report Prologue
2 Scope of the Report
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
Aluminum Market Table of Content to be Continue……,
Aluminum Market List of Table:
Table 1 List Of Assumptions
Table 2 Comparative Strategic Analysis Of Aluminum Consumption, By Country And Region
Table 3 Global Bauxite Reserves And Production, By Region (2015)
Table 4 Global Aluminum Market By Type (Usd Million) (2015-2023)
Table 5 Global Aluminum Market By Type (Kiloton) (2015-2023)
Aluminum Market List of Table to be Continue……,
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