Aluminium Market to Grow at 2.70% CAGR by 2030

Rapid pace of development in the transport industry and adoption of advanced technologies in aluminium manufacturing technologies and processing equipment are the major factors which are expected to drive the growth of aluminium industry during the forecast period of 2020-2030.

The Aluminium market is expected to witness a CAGR of around 2.70% from 2020-2030, as per a new report published by Next Move Strategy Consulting.

According to the report, increase in the use of aluminium in various industries such as foil & packaging and building & construction and increase in the demand for demand for primary and recycled aluminium are likely to drive the Aluminium market. Also, rise in demand for lightweight construction in the automotive industry and increase in consumption of aluminium in aerospace industry are the key factor supporting the growth of the global aluminium market. Moreover, rise in the demand for aluminium in renovation of historic buildings is expected to boost the growth of market during the forecast period.

Based on Type, the global market is segmented Primary Aluminium and Secondary/Recycled Aluminium.

Based on Product, the global market is segmented into Castings, Extrusions, Flat Rolled, Forgings, Rod & Bar, Pigments & Powder and Others. The flat rolled segment is projected to account for the largest market share in this market, which is supported by increase in the use of flat rolled for window frames and other glazed structures including shop fronts, large roof superstructures for shopping centres and stadiums and applications such as door handles, catches for windows, staircases, heating and air-conditioning systems.

Based on Vertical Industry, the global market is segmented into transport, building & construction, electrical, Hardware & Accessories, Consumer Goods, Foil & Packaging, Machinery & Equipment and Others. Rising consumption of aluminium in the consumer goods due to new product development is one of the recently observed aluminium market trend which us fuelling overall market growth.

The building & construction segment accounted for the largest aluminium market share in 2019 and it is likely to maintain the lead in the coming years. The growth of the building & construction segment is boosted by various factors such as increase in the demand for application of aluminium in construction industry due to its high strength and rigidity. Furthermore, rise in the use of aluminium in clad non-residential buildings for increasing appearance of a building, its durability and offer valuable insulation properties and to enhance the energy efficiency of the construction is also expected to drive the growth of the segment.

The prominent players in this market are Crown Holdings Incorporated, Bahrain B.S.C, Ball Corporation, Glencore International AG, BHP Billiton Limited, Century Aluminium Company, Constellium N.V., Hindalco Industries Ltd., Jindal Iron & Steel Company Limited , JW Aluminum Company, Kaiser Aluminum Corporation, National Aluminum Company Limited, Orkla ASA, Rexam plc, Shandong NanshanAluminum Co., Ltd., South32 Limited, State Power Investment Corporation, Talco Aluminum Company, Vale SA, and Vedanta Resources Plc.

Browse key industry insights spread across 325 pages with 267 market data tables & 225 figures & charts from the reportat https://www.nextmsc.com/report/aluminum-market in detail along with the table of contents:

Key Insights from the Aluminium Market Report:

• China accounted for largest market share in Asia Pacific aluminium market, and is expected to maintain is lead during the forecast period
• The market share for building & construction segment is expected to be largest due to huge demand for aluminium in construction on corporate and residential building and increase importance of durable and efficiency of construction material.
• Next Move Strategy Consulting has identified key players in Aluminium market includes Crown Holdings Incorporated, Bahrain B.S.C, Ball Corporation, BHP Billiton Limited, Hindalco Industries Ltd., Century Aluminium Company, Constellium N.V., Glencore International AG, Jindal Iron & Steel Company Limited , JW Aluminum Company, Kaiser Aluminum Corporation, National Aluminum Company Limited, Orkla ASA, Rexam plc, Shandong NanshanAluminum Co., Ltd., South32 Limited, State Power Investment Corporation, Talco Aluminum Company, Vale SA, and Vedanta Resources Plc.

The Report Aluminium Market – Segmented by Application, Processing Method and Geography

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About Next Move Strategy Consulting

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics.

We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

For more insights, please visit, https://www.nextmsc.com

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