Dublin, Feb. 28, 2024 (GLOBE NEWSWIRE) -- The "Asia-Pacific Low Carbon Aluminum Market: Analysis and Forecast, 2022-2031" report has been added to ResearchAndMarkets.com's offering.
The Asia-Pacific low-carbon aluminum market (excluding China) is projected to reach $22.46 billion by 2031 from $16.19 billion in 2022, growing at a CAGR of 3.7% during the forecast period 2022-2031.
The growing demand for low-carbon aluminum is being driven by the rising popularity of electric vehicles, which utilize lightweight materials. Among various sectors, the automotive industry stands out for its significant efforts toward decarbonization, leading to widespread adoption of low-carbon aluminum.
Government regulations further incentivize the use of low-carbon aluminum, as it aids in reducing vehicle weight, thereby enhancing fuel efficiency. Additionally, low-carbon aluminum contributes to reducing CO2 emissions, making it an environmentally friendly choice for automotive applications.
Market Introduction
The Asia-Pacific (APAC) low-carbon aluminum market is experiencing robust growth, largely driven by the increasing adoption of electric vehicles (EVs) in the region. EV manufacturers prioritize lightweight materials like low-carbon aluminum to improve vehicle efficiency and range. The automotive industry, in particular, is at the forefront of this trend, focusing on decarbonization efforts and witnessing significant uptake of low-carbon aluminum. Government initiatives and regulations aimed at reducing carbon emissions further bolster market growth by incentivizing the use of environmentally friendly materials.
Moreover, the APAC region's rapid industrialization and infrastructure development contribute to the rising demand for low-carbon aluminum in construction and manufacturing sectors. With these factors in play, the APAC low-carbon aluminum market presents promising opportunities for sustainable growth and innovation across various industries.
How can this report add value to an organization?
The product segment helps the reader understand the different sources of production and products involved in the low-carbon aluminum market. The source of production segment has been segmented into solar energy, wind energy, hydro energy, recycling, carbon capture and storage (CCS), and others. The product segment has been segmented into flat-rolled, castings, extrusion, forgings, rod and bar, and others.
Moreover, the study provides the reader with a detailed understanding of the low-carbon aluminum market based on end users, including transportation, building and construction, the electrical industry, consumer goods, foil and packaging, machinery and equipment, and others. The increasing adoption of low-carbon aluminum in manufacturing components in sustainable technologies is expected to fuel the growth of the market.
The APAC low-carbon aluminum market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business expansions to strengthen their position in the low-carbon aluminum market.
Key players in the APAC low-carbon aluminum market analyzed and profiled in the study involve low-carbon aluminum producers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the low-carbon aluminum market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Some prominent names established in this market are:
- Vedanta Aluminum and Power
- China Hongqiao Group Limited
- Capral Limited
- South32
- Indonesia Asahan Aluminium
Key Topics Covered:
Executive Summary
Scope of the Study
1 Markets
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Increasing Investments in Low-Carbon Aluminum
1.1.1.2 Government Activities toward the Establishment of Low-carbon Infrastructure
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of Low-Carbon Aluminum Market
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.4 Impact of COVID-19 on the Low-Carbon Aluminum Market
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Attention of Governments toward Decarbonization of Core Contributing Commodities
1.2.1.2 Growing Research and Development Activities to Achieve Near Zero Emissions
1.2.2 Business Challenges
1.2.2.1 Lower Recycling Rates for Aluminum in Various Industries
1.2.2.2 Volatile Low-Carbon Aluminum Prices
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Partnerships and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Low-Carbon Aluminum in Niche Segments such as Ultra-Low-CO2 Grades
1.2.5.2 Climate Mitigation Initiatives to Increase Demand for Sustainably Sourced Aluminum
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
2 Regions
2.1 China
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Producers and Suppliers in China
2.1.1.3 Regulatory Landscape
2.1.1.4 Business Drivers
2.1.1.5 Business Challenges
2.1.2 Applications
2.1.2.1 China Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.1.3 Products
2.1.3.1 China Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.1.3.2 China Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2 Asia-Pacific and Japan
2.2.1 Markets
2.2.1.1 Key Producers and Suppliers in Asia-Pacific and Japan
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Applications
2.2.2.1 Asia-Pacific and Japan Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.2.3 Products
2.2.3.1 Asia-Pacific and Japan Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.2.3.2 Asia-Pacific and Japan Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2.3.3 Japan
2.2.3.4 South Korea
2.2.3.5 India
2.2.3.6 ASEAN
2.2.3.7 Rest-of-Asia-Pacific and Japan
3 Markets - Competitive Benchmarking and Company Profiles
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix of Key Companies, By Source of Production
3.1.3 Market Share Analysis of Key Companies, 2021
3.2 Company Profiles
3.2.1 Vedanta Aluminum and Power
3.2.1.1 Company Overview
3.2.1.1.1 Role of Vedanta Aluminum and Power in the Low-Carbon Aluminum Market
3.2.1.1.2 Production Sites
3.2.1.1.3 Product Portfolio
3.2.1.2 Business Strategies
3.2.1.2.1 Market Developments and Product Developments
3.2.1.3 Analyst View
3.2.2 China Hongqiao Group Limited
3.2.3 Capral Limited
3.2.4 South32
3.2.5 PT Indonesia Asahan Aluminium
4 Research Methodology
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