According to the report published by
Allied Market Research, Saudi
Arabia aluminum market generated $1.7 billion in 2018,
and is expected to garner $2.4 billion by 2026, growing at a CAGR of 6.8% from
2019 to 2026. The report offers a detailed analysis of changing market trends,
market size & estimations, top investment pockets, key segments, and
business performance.
Development of the transport
industry, technological developments, and supportive government regulations
drive the growth of the Saudi Arabia aluminum market. However, developing China
and Russia aluminum industry hinder the market growth. On the other hand, surge
in focus on recycling and reusing aluminum scrap create new opportunities in
the next few years.
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Based on processing method, the
extrusion segment contributed to nearly one-third of the total share in 2018,
and is estimated to maintain its dominant position in terms of revenue during
the forecast period. However, the casting segment is expected to portray the
highest CAGR of 7.8% from 2019 to 2026. The research also analyzes segments
including forging, pigments & powder, rods & bar, and flat rolled.
Based on series, the series 1 segment
contributed to the highest market share with more than one-fifth of the total
share in 2018, and is estimated to maintain its lead status throughout the
forecast period. On the other hand, the series 7 segment would witness the
largest CAGR of 8.5% from 2019 to 2026. The report also analyzes segments such
as series 2, series 3, series 4, series 5, series 6, series 8, and series 9.
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Based on end-use industry, the
electrical segment accounted for the largest market share with more than
one-fourth of the total market share in 2018, and is expected to maintain its
largest contribution by 2026. However, the foil & packaging segment is
estimated to maintain the highest CAGR of 7.3% from 2019 to 2026. The research
also analyzes segments such as building & construction, transportation,
industrial, consumer durable, and others.
Leading market players analyzed in
the research include Aboura Metals, Al TaiseerAluminium Company, Al Saudia metal
scrap trading LLC, Aluminum Product Company (Alupco), Alcoa Corporation, Nesma
Recycling Co. Ltd., Maaden - Saudi Arabian Mining Company, Star Steel Factory
Co. Ltd., Saudi Aluminium Recycling Company Ltd., and Tawfiq Al Saleh Trad. Co.
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