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Aluminum Market Size, Key Players, Global Trends Analysis by MRFR to 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 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.
Market Research Future (MRFR) has published a detailed report stating that the global aluminum market is marked to expand at a substantial CAGR of 6.71% during the forecast period of 2018-2023.
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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), and others.
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 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.
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 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 2023. 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.
Increased utilization of aluminum to reduce the weight of automobiles that are being manufactured in the rapidly expanding automotive sector is majorly contributing to the growth of the aluminum market in the Europe region. The aluminum market in the North America region is marked to expand at a CAGR of 5.88% during the assessment period. The market growth is attributed to the growing secondary usage of aluminum in various end-use industries in this region.
Aluminum Market Table of Content:
1 Executive Summary
2 Market Introduction
3 Market Insights
4 Research Methodology
5 Market Dynamics
Aluminum Market Table of Content to be Continue…….,
Browse Complete Report with TOC @ https://www.marketwatch.com/press-release/aluminum-market-2018-computing-growth-estimated-to-reach-usd-22113284-million-dollar-at-grow-a-cagr-of-648-during-the-forecast-period-to-2023-2018-09-12
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