Aluminum Market 2022 | Size, Growth, Demand, Opportunities and Forecast 2030

1. Aluminum is a significant material for manufacturing in almost every industrial and consumer durable. Key aspects such as lighter weight, thinner and greater connectivity properties are propelling the product demand. It is widely used in fitness and sports equipment such as exercise machines, baseball nets, soccer goal posts and archery equipment. Air conditioning and refrigerator condensers and other home appliance trim and components also use aluminum owing to its ability to improve product efficiency. Hence, increasing application scope in consumer durable and other consumer good anticipated to drive the aluminum market growth. The global Aluminum Market size valued to USD 151.99 billion in 2019, is predicted to reach USD 205.72 billion by 2030, with a CAGR of 2.70% from 2020-2030. Access Full Description of this report at: - https://www.nextmsc.com/report/aluminum-market The Aluminum Market growth can be attributed to the extensive use of Al in different end use industries across the globe. For instance, it is employed in the food and beverage (F&B) industry for making packaging containers as Al helps retain the flavor and integrity of the content. This, in confluence with the escalating demand for ready-to-eat (RTE) food items, is propelling the market growth. Apart from this, there is a rise in the sales of beauty and personal care products around the world on account of inflating income levels, increasing focus on appearance, and the growing influence of social media. Aluminium, the second most used metal has an annual consumption of 88 million including scrap. It has grown around 20 times in the last 60 years, which is the fastest compared with other metals. In 2019, global production of aluminum was around 123,534 thousand million tons and global consumption was around 123,140 thousand million tons, which is a global surplus of 394 thousand million tons of aluminum. In the same year, top producers of aluminum were China with 35.1 thousand million tons, Russia with 3.7 thousand million tons, India with 3.3 thousand million tons, Canada with 3.2 thousand million tons, UAE with 2.8 thousand million tons, and Australia with 1.5 thousand million tons. Also, the top consumers of aluminum were China with 35.76 thousand million tons, the USA with 5.2 thousand million tons, Germany with 2.1 thousand million tons, India with 2.1 thousand million tons, Japan with 1.95 thousand million tons, and South Korea with 1.28 thousand million tons. 27% of the total aluminum production is used in auto and transport industries and 25% is used in the construction sector. The packaging industry used 13% of total aluminum production, electrical accounted for 12% of the total production, machinery and equipment hold 8.5% of aluminum production, and consumer durables have 4.5% share of the total produced aluminum, while other miscellaneous segments used 4%. Some of the major key players in the aluminum market are: Rio Tinto Alcan Inc., United Company RUSAL Plc., Alcoa Corporation, China Hongqiao Group Ltd., China Power Investment Corp., Xinfa Group Co., Ltd., East Hope Group Company Limited, Emirates Global Aluminum PJSC, Norsk Hydro ASA and Aluminium Corporation of China Limited among others. Key Market Trends: In the building and construction industry, aluminum is the second most widely used metal. It is extensively used in windows, curtain walls, roofing and cladding, solar shading, solar panels, railings, shelves, and other temporary structures.

2. Increasing construction activity worldwide is one of the key factors driving the market studied in recent times. The Asia-Pacific construction sector is the largest globally, and it is growing at a healthy rate, owing to increases in the population, middle-class incomes, and urbanization. This has accelerated the demand for hotels, shopping malls, high-rise buildings, arenas, and stadiums (both outdoor and indoor), in turn boosting the construction industry and driving the demand for aluminum in the region. In North America, the US is the largest market for residential construction and is one of the major growth markets in the world. Request sample copy of this report at:- https://www.nextmsc.com/Aluminum-Market/request-sample About Next Move Strategy Consulting Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider, committed to deliver high quality, market research reports that help multinational companies to triumph over their competitions and increase industry footprint by capturing greater market share. Our research model is a unique collaboration of primary research, secondary research, data mining and data analytics. We have been servicing over 1000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicate as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that ranges from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses. For more insights, please visit, https://www.nextmsc.com