Pune, India, Dec. 09, 2021 (GLOBE NEWSWIRE) -- According to a report published by Fortune Business Insights™, the global aluminium market is set to gain traction from the increasing usage of aluminium by automotive designers and engineers for surging fuel economy and reducing emissions. The report further states that the market size was USD 164.23 billion in 2019 and is projected to reach USD 242.44 billion by 2027, exhibiting a CAGR of 5.7% during the forecast period.
Report Focus on:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential Market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Get a Sample PDF Brochure:
https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/aluminium-market-100233
List of Companies Profiled in the Global Aluminium Market are:
- UC RUSAL (Russia)
- Aluminum Corporation of China Limited (CHALCO) (China)
- Rio Tinto (UK)
- China Hongqiao (China)
- Alcoa Corporation (U.S.)
- Emirates Global Aluminium (UAE)
- Norsk Hydro ASA (Norway)
- Hindalco Industries Ltd. (India)
- CHINA ZHONGWANG HOLDINGS LIMITED (China)
- Vedanta Aluminium Limited (India)
- Novelis (U.S.)
- Other Key Players
Drivers & Restraints-
Reprocessing of Scraps to Reduce Environmental Harm will Drive Growth
The increasing adoption of reprocessing of scrap or secondary metal is set to propel the aluminium market growth in the coming years. This process helps in reducing environmental harm by requiring just a fraction of energy. Apart from that, the scraps obtained from machinery, beverage cans, equipment, and automotive are often reused and reprocessed because of their cost-efficiency. However, exposure to aluminium can cause multiple adverse effects, such as insomnia, asthma, rashes, and headache. This factor may hinder growth.
Segment-
Electrical Segment to Generate Highest Share Backed by Rising Usage in Vehicles
Based on end-use, the electrical segment held 10.7% in terms of the aluminium market share in 2019. The transportation segment, on the other hand, procured the largest market share because of the surging usage of aluminium in vehicles. The metal possesses superior physical properties and is lightweight.
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/aluminium-market-100233
Regional Analysis-
Rising Demand from Packaging & Solar Panels Industries to Favor Growth in Europe
Geographically, Asia Pacific earned USD 103.25 billion in terms of revenue in 2019. Developing countries, such as India, Japan, and China are the major contributors to this growth. Besides, the ongoing expansion of the automotive and construction industries in the region would aid growth. Europe is anticipated to grow steadily backed by the high demand for aluminium from end-use industries, such as solar panels and packaging. Additionally, the rising implementation of stringent laws to lower emissions would augment growth.
Competitive Landscape-
Key Players Focus on Acquisition Strategy to Strengthen Their Positions
The global market is highly fragmented with the presence of a large number of manufacturers, namely, Rio Tinto, CHALCO, Alcoa Corporation, and UC RUSAL. They are constantly investing hefty amounts of money to acquire other firms or are implementing novel technologies to strengthen their positions.
Below are two of the latest industry developments:
- July 2020: Krasnoyarsk Aluminium Smelter (KrAZ), an open joint-stock company of RUSAL, completed its transition to the EcoSoderberg technology. It is worth USD 74 million and included the modification of 1954 reduction cells.
- April 2020: Novelis, a part of Hindalco Industries successfully acquired Aleris Corporation. This acquisition would help the former to enter the high-end aerospace segment. The deal was worth USD 2.8 billion.
Inquire Before Buying This Research Report:
https://www.fortunebusinessinsights.com/enquiry/queries/aluminium-market-100233
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Key Market Trends in the Global Market
- Key Developments: Mergers, Acquisition, Partnership, etc. .
- Latest Technological Advancement
- Insights on Regulatory Scenario
- Porters Five Forces Analysis
- Price Trend Analysis
- Qualitative Insights Impact of COVID 19 on Global Aluminium Market
- Supply Chain Challenges
- Steps taken by Government/Companies to overcome this impact
- Potential opportunities due to COVID-19 outbreak
- Global Aluminium Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By End-use
- Construction
- Transportation
- Packaging
- Electrical
- Consumer Durables
- Machinery & Equipment
- Others
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- By End-use
TOC Continued…!
Get your Customized Research Report:
https://www.fortunebusinessinsights.com/enquiry/customization/aluminium-market-100233
Have a Look at Related Research Insights:
Plastic Market 2021 Size, Trends, Share & Demand by 2028 | Biodegradable Plastic Demand in India, USA and European Countries to Spur Growth
Composites Market Size to Hit USD 112.0 Billion by 2027 | Composites Industry Share, Growth, and Forecast Report by Fortune Business Insights™
Methanol Market to Hit USD 39.18 Billion Forecast 2028; Increasing Global Warming and Climate Changes Caused by Heavy Fuels to Aid Growth, Says Fortune Business Insights™
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social Media Channels:
