New York, US, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Aluminum Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Aluminum Market Information by Product, Type, Application and Region - Forecast till 2025”, the market is forecasted to reach USD 235.8 Billion by 2025 registering a CAGR of 6.5%.
Market Scope:
Aluminum is one of the most abundant metals in the earth's crust, and it is most typically extracted from bauxite. Aluminum is used in a wide range of applications in various industries, including automotive, electrical and electronics, aerospace, and building and construction. High strength, durability, corrosion resistance, low metal density, and flexibility characteristics have contributed to its widespread application.
Get Free Sample PDF Brochure @ https://www.marketresearchfuture.com/sample_request/2031
Primary Growth Boosters:
Corrosion resistance, high strength, flexibility, good thermal and electrical conductivity, and barrier properties are all factors contributing to the aluminium market's demand from the aerospace sector, which is expected to rise throughout the projection. Lately, Shape Corp., a worldwide tier-one automotive supplier based in Grand Haven, staged a groundbreaking ceremony for its new Aluminum Center of Excellence in Ohio. The building of a new facility in Ohio will boost the company's manufacturing and research capabilities while also creating 170 new jobs. The 322,000square-foot facility will allow the company to increase its tight tolerance aluminium extrusions and assembly manufacturing and research capabilities while also creating more than 170 new jobs in the Trenton area. The new facility's construction will go through the end of 2021, with phase one projected to be completed in 2022. Shape Corp. is doubling down on its impact energy management engineering skills and extending its capabilities in tight tolerance aluminium extrusions and assemblies to increase its global footprint.
Competitive Landscape:
The Major Vendors in the Global Aluminum Market are:
- Alcoa Corporation (U.S.)
- Rio Tinto (Australia)
- RUSAL (Russia)
- Norsk Hydro A.S.A. (Norway)
- Dubai Aluminum Company Limited (U.A.E)
- Aluminum Bahrain B.S.C. (Bahrain)
- Century Aluminum Company (U.S.)
- Vedanta Ltd. (India)
- China Aluminum Corporation (China)
- China Hongqiao (China)
- H.P. (Australia)
- East Hope Group (China)
- Emirates Global Aluminum (U.A.E.)
Market Restraints:
The restrictions in trade and relations between different countries are estimated to hold back the aluminium market growth. In order to protect indigenous producers, India is recently preparing to increase surveillance of copper and aluminium imports while adopting regulations to limit exports from China and other Asian countries.
Browse In-depth Market Research Report (299 Pages) on Aluminum: https://www.marketresearchfuture.com/reports/aluminum-market-2031
COVID-19 Analysis
Businesses of all types are beginning to exhibit indications of hardship as the COVID-19 pandemic sweeps the globe. The forecast for the aluminium sector is no exception; aluminium in various medical devices is currently in great demand and relies on improved printed circuit boards to function. The ventilators are the most notable of these devices, as they are used to support vital life processes in COVID-19 patients who are unable to breathe. Logistical and manpower shortages were among other issues restricting the global market. For instance, 900 workers at Rio Tinto's Kitimat aluminium smelting plant and Kemano power generating facility in British Columbia have gone on strike, according to Canada's Unifor union. After nearly seven weeks of failed talks over planned changes to workers' retirement benefits and other issues, Unifor issued a 72-hour strike notice to address the issue.
Market Segmentation
The type segment of the aluminium market is estimated to be led by the primary segment in the forecast period.
The applications segment of the aluminium market is assessed to be led by the machinery & equipment segment.
The products segment of the aluminium market is assessed to be led by the flat-rolled segment.
Buy Now: https://www.marketresearchfuture.com/checkout?currency=one_user-USD&report_id=2031
Regional Analysis:
In the forecast period, Asia Pacific dominated the global aluminium market. This trend is likely to continue during the forecast period. Infrastructure expansion, rapid industrialization, significant building investments, and the growing automotive industry are all factors pushing aluminium demand over the projection period. Europe is expected to be the second most important market. Throughout the projection period, the region's aluminium market trends are expected to remain stable, owing to improving economic conditions and rising demand for lightweight materials from the automotive industry. Due to the burgeoning construction industry and rapid industrial growth, the Middle Eastern and African areas are predicted to rise throughout the projection period. In the North American region, Shawinigan Aluminum Inc. (S.A.I.) has announced the start of its new aluminium recycling center, which will recycle 30,000 metric tonnes of aluminium per year as part of a $10 million investment. The extra recycling capability is in addition to the annual billet supply of 60,000 metric tonnes. The recovered product accounts for half of the overall supply of billets. With the addition of the A.S.I. recycling center, Groupe Sotrem-Maltech, Quebec, now has a recycling capacity of more than 50,000 metric tonnes of aluminium per year.
Share your Queries @ https://www.marketresearchfuture.com/enquiry/2031
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.