Aluminium Metals Market Growth | Industry Size, Key Players, Segments, Latest Trends and Forecast 2021-2027

May 11, 2022

Market Highlights:

The Global Aluminium Metals Market Growth has been evaluated as moderate growing market and expected that the market will reach high growth figures. Aluminium is a lightweight metal, which is produced from bauxite. Bauxite is rich in aluminium oxides, which is melted and electrolyzed to produce primary aluminium. It is widely used across various industries for applications such as, cans, foils, utensils, frames, and structure among other applications. Recycled aluminium can be defined as the scrap aluminium obtained from the primary aluminium while casting, cutting and millings, generally termed as new scrap. The other sources of recycled scrap is from end-of-life aluminium products such as, foils, scrap vehicles and aluminium cans among others. Developed nations have minimized its use of primary aluminium and are more inclined towards use of recycled aluminium, which in turn is contributing to the economic growth and environmental harmony, this trend is being slowly adapted by the developing nations with establishment of new recycling facilities in these regions.

Based on types, primary aluminium accounts for largest market share, with wide application of primary aluminium across miscellaneous industries such as, automotive, construction, electrical and packaging among others. These industries are expected to grow in forecasted period due to rise in consumption rate and growing population. The use of aluminium in automotive manufacturing is accelerating owing to its distinct characteristics and properties such as lightweight, durability, recyclability and strength among other properties, with a positive output on the overall performance of vehicle such as, fuel efficiency, safety, less maintenance and reduced emission. Thus, increasing use of aluminium in automotive components coupled with growth in automotive production is one of the prominent market driving factor adding value to the global aluminium market. Furthermore, the application of aluminium across various transportation sector such as railroad, marine and aerospace as a replacement for steel in the above mentioned transportation sectors can be further attributed to Aluminium Metal Market growth.

Global Aluminium Metals Market Players:

The major participants of this market are: RUSAL, Aluminium Corporation of China Ltd., Rio Tinto Alcan Inc., Norsk Hydro ASA, Alcoa, Inc., China Hongqiao Group Limited, and Emirates Global Aluminium PJSC

Segmentation:

The Global Aluminum Price Forecast is majorly segmented on the Basis of Types and Application. Based on Types, the market is segmented into primary aluminium and recycled aluminium. Further on the basis of application the market is classified into automotive & transportation, construction, foil & packaging, electrical, consumer goods & others.

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