Aluminum Market is estimated to reach $246.6 billion by 2024

Aluminum Market is estimated to reach $246.6 billion by 2024

“Aluminum Market”
The Aluminum Market, led by the growth of the construction sector, is estimated to hit the $246.6 billion mark by 2024.

The Report “Aluminum Market: By Type (Billet, Ingot, Aluminum Profiles, Fitting, and Others); By End Use Industry (Transpsortation, Construction, Packaging, machinery and Equipments, and Others); By Geography (North America, South America, Europe, APAC, Middle East and Africa): – Forecast (2019–2024),published by IndustryARC, estimates the global aluminum market to reach $246.6 billion by 2024.

Browse 87 Market Tables and 35 Figures spread across 188 Pages, and an in-depth TOC on “Aluminum Market

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According to a recent study by IndustryARC, the Aluminum market is forecast to reach $246.6 billion by 2024, growing at a CAGR of 6.2%. The growth of the Aluminum market can be attributed to the growing demand from the construction industry. The rapid industrialization and rising urbanization have led to the increased construction of commercial and residential buildings, thus leading to the high demand for aluminum and aluminum alloys.

The market for Aluminum is all set to exhibit robust growth as demand for aluminum across the globe is projected to increase at 5.8% per year. Another key factor that contributes to the growth of the aluminum market is the increased demand from the automotive sector. Aluminum remains the fastest growing automotive material over competing materials and is entering its most unprecedented growth phase because of the industry’s shift towards light automotive materials. The increase in demand for light-weight and fuel-efficient vehicles is expected to boost the demand for aluminum in the near future.

The major factor for the growth of the aluminum market in the Asia-Pacific region is the booming construction sector.  Moreover, the economic development and rising purchasing power in the emerging economies such as India, China, Indonesia, Malaysia, and others of the region are leading to a substantial demand for automobiles. The growth in demand for automobiles has led to an increase in fuel consumption, which has further led to a surge in fuel prices. To address this issue, the automotive industry has started using aluminum alloys to reduce the weight of automobiles substantially without compromising on the strength and weight carrying capacity of the vehicles.

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Competitive landscape

  • Emirates Global Aluminum
  • Vedanta Resources Plc
  • Dubai Aluminum Co. Ltd.
  • Aluminum Corporation of China Ltd.
  • BHP Billiton Ltd.
  • United Co.

Aluminum manufacturers have laid their focus on mergers and acquisitions as well as product launches to augment entry into related markets and enhance their core competencies and product portfolio as well as gain a foothold in the emerging markets.

The various end-user industries covered in the report include

  • Transportation
  • Construction
  • Machinery and Equipment
  • Packaging
  • Electrical and Electronics
  • Others

The overall market is also presented from the perspective of different geographic regions and the key countries for this industry.  The competitive landscape for each of the product types is highlighted and market players are profiled.

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Related Reports

A. Aluminum Extrusion Products Market

B. Aluminum Casting Market

What can you expect from the report?

The Aluminum Market is Prepared with the Main Agenda to Cover the following 20 points:

1. Aluminum Market Size by Product Categories & Application        

2. Aluminum Market trends & Relevant Market Data

3. Manufacturer Landscape                                                         

4. Distributor Landscape                                                                

5. Pricing Analysis                                                                          

6. Top 10 End-user Analysis                                                       

7. Product Benchmarking                                                              

8. Product Developments                                                              

9. Mergers & Acquisition Analysis                                             

10. Patent Analysis

11. Aluminum Market Demand Analysis (Revenue & Volume)

12. Country-level Analysis

13. Competitor Analysis

14. Aluminum Market Shares Analysis

15. Value Chain Analysis

16. Supply Chain Analysis

17. Aluminum Market Strategic Analysis

18. Aluminum Market Current & Future Market Landscape Analysis

19. Opportunity Analysis

20. Aluminum Market Revenue and Volume Analysis

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