According to the report published by
Allied Market Research, the global aluminum market was
estimated at $147.2 billion in 2018 and is expected to hit at $189.8 billion by
2026, registering a CAGR of 3.2% from 2019 to 2026. The report provides an
all-inclusive analysis of the top investment pockets, top winning strategies,
drivers & opportunities, market size & estimations, competitive
landscape, and wavering market trends.
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Technological developments in the
transport industry and rise in use of top-graded applications across various
end user industries drive the growth of the global aluminum market. On the
other hand, wavering prices of raw materials and rising competition from
substitutes impede the growth to certain extent. Nevertheless, surge in demand
from emerging economies and growing use of recycled aluminum products are
anticipated to pave the way for multiple opportunities in the near future.
The
transport segment to dominate by 2026-
By end-user industry, the transport segment
contributed to more than one-fifth of the total market revenue in 2018 and is
projected to retain its dominance by the end of 2026.The same segment is also
expected to manifest the fastest CAGR of 3.5% from 2019 to 2026. The other
segments analyzed in the report include Building & Construction, Electrical
Engineering, Consumer Goods, Foil & Packaging, and Machinery &
Equipment.
The
extrusions segment to lead the trail till 2026-
By processing method, the Extrusions segment
generated the highest share of the global market in 2018, and is anticipated to
maintain the lion’s share during the estimated period. Simultaneously, the flat
rolled segment would register the fastest CAGR of 4.0% by 2026. The other
segments assessed through the report include Castings, Forgings, Pigments &
Powder, and Rod & Bar.
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Asia-Pacific
to remain lucrative during the forecast period-
By geography, the region across Asia-Pacific
garnered two-fifths of the total market share in 2018 and is predicted to rule
the roost throughout the period. The same province would also portray the
fastest CAGR of 3.4% from 2019 to 2026. The other regions analyzed through
the report include North America, Europe, and LAMEA.
Key
players in the industry-
The key market players analyzed in
the global aluminum market report include Aluminium Corporation of China
Limited (CHALCO), China Hongqiao Group Ltd., China Power Investment Corp.
(CPI), Xinfa Group Co., Ltd., United Company RUSAL Plc.,Norsk Hydro ASA, East
Hope Group Company Limited, Alcoa Corporation, Emirates Global Aluminum PJSC,
and Rio Tinto Alcan Inc. These market players have taken recourse to several
strategies including partnership, expansion, collaboration, joint ventures, and
others to prove their flairs in the industry.
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