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KEY FINDINGS The global aluminum market is projected to register a CAGR of 4.97% during the forecast period from 2022 to 2030. Key factors such as increasing production of electric vehicles, growing end-user demand, as well as growing substitution of stainless steel for aluminum by car manufacturers, will boost market growth.
NEW YORK, Dec. 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the “GLOBAL ALUMINUM MARKET FORECAST 2022-2030” report – https://vvvv.reportlinker.com/p06372979/?utm_source=GNV
Market insights
Aluminum is one of the lightest engineering metals, with a superior strength-to-weight ratio compared to steel. The material is extracted from the main ore called bauxite.
In addition to being resistant to corrosion, aluminum is a conductor of heat and electricity, as well as a good reflector of heat and light.
The increasing application of aluminum in various industries such as construction, electric power, transportation, marine aircraft and others has led to an increase in the demand for the metal. As a result, this factor plays an essential role in driving the growth of the market during the forecast period. years.
Furthermore, the replacement of stainless steel with aluminum predominantly by car manufacturers is expected to boost aluminum demand. This material is highly preferred by car manufacturers for increasing fuel economy as well as minimizing emissions.
Aluminum is also used by electric vehicle manufacturers to reduce vehicle weight and, consequently, to achieve improved driving range.
REGIONAL INSIGHTS
The growth estimation of the global aluminum market includes detailed analysis of North America, Europe, Asia Pacific and Rest of the World. Asia Pacific is expected to be the leading market during the forecast year.
The growth of the market in the region is due to key factors such as the increasing preference for hybrid-electric and battery-electric vehicles, as well as growing investments in construction activities and infrastructure development.
COMPETITIVE INSIGHTS
The global aluminum market is characterized by a high degree of competition between players with development opportunities. Therefore, industrial rivalry in the market is expected to be intense during the forecast period.
Some of the leading companies operating in the market are Aluminum Corporation of China Ltd (CHALCO), Hindalco Industries Ltd, Rio Tinto, etc.
Our report offerings include:
• Explore key findings of the overall market
• Strategic breakdown of market dynamics (drivers, limitations, opportunities, challenges)
• Market forecasts for at least 9 years, along with 3 years of historical data for all segments, sub-segments and regions
• Market segmentation serves for a thorough assessment of key segments with their market valuations
• Geographical analysis: Estimates of the mentioned regions and segments at the country level with their market share
• Key Analytics: Porter’s Five Forces Analysis, Supplier Landscape, Opportunity Matrix, Key Buying Criteria, etc.
• Competitive landscape is a theoretical explanation of key companies based on factors, market share, etc.
• Company profiling: detailed company overview, products/services offered, SCOT analysis and recent strategic developments
The mentioned companies
1. ALCOA CORPORATION
2. ALUMINUM BAHREJ BSC (ALBA)
3. ALUMINUM CORPORATION OF CHINA LTD (CHALCO)
4. CENTURI ALUMINUM COMPANI
5. CHINA HONGKIAO GROUP LIMITED
6. CHINA ZHONGVANG HOLDINGS LIMITED
7. CONSTELIUM SE
8. EMIRATES GLOBAL ALUMINUM PJSC
9. HINDALCO INDUSTRIES LTD
10. NORSK HYDRO ASA
11. NOVELIS INC
12. RELIANCE STEEL & ALUMINUM CO
13. RIO TINTO
14. UACJ CORPORATION
15. RUSAL PLC COMBINED COMPANY
Read the full report: https://www.reportlinker.com/p06372979/?utm_source=GNV
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