Synopsis of Aluminium Metals
Aluminium is a lightweight metal, which is derived from bauxite. Bauxite is rich in aluminium oxides that is melted and electrolysed to produce primary aluminium. Whereas, recycled aluminium can be defined as the scrap aluminium obtained from the primary aluminium while casting, cutting and millings, generally termed as new scrap. It find wide application scope in the manufacturing of cans, foils, utensils, frames, and structure on account of its superior properties such as ductility, malleability, machinability, and durability. In addition to this, it is widely used in numerous end use application such as automotive & transportation, construction, foil & packaging, electrical, machinery & equipment, consumer goods and others.
According to Market Research Future Analysis, cumulatively the global Aluminium Metals market was valued at USD 1, 12,487.9 million in 2015 and is predicted to reach USD 1, 60,696.1 million by the end of 2022, expanding at a CAGR of 5.3% during forecast period. Aluminium Metals market is segmented according to type and applications.
Global aluminium marketdemand is projected to be influenced by various market drivers. The major market driving factors affecting the global demand include increasing automotive production along with increasing penetration of aluminium metals in automobiles. The usage of aluminium etals in automotive materials is increasing owing to the stringent fuel efficiency regulations which lead to focus towards lightweight materials. Aluminium are lightweight materials with the desired strength. There exists stringent fuel efficiency standard regulations in regions like North America and Europe. In addition to this, China recently introduced fuel efficiency standards that encourages the use of lightweight materials inn the automotive production. Rest of the world are anticipated to follow the trend Along with increasing penetration in the automotive market, Increasing globnal automotive production is tractioning the aluminium demand in automotive market.
Moreover, growing investments in construction and infrastructure in developed regions is estimated to further boost global aluminium market growth. In addition, the building and construction sector in emerging nations such as, India is expected to be the second favourable market for aluminium metal market after China, owing to its rapid urbanization rate and increasing consumption of aluminium in terms of infrastructural developments. Apart from these factors, growing use in electrical and electronics component, and surging demand for aluminium foils in packaging industry is anticipated to drive global aluminium market.
FIGURE 1 GLOBAL ALUMINIUM METALS MARKET, BY REGION, 2016 (%)
Sources: MRFR analysis
The global Aluminium Metals market is segmented into Asia Pacific, Europe, North America, Middle East, and Latin America. Among all, Asia Pacific region is the largest market for Aluminium Metals and accounts for more than 59.7% of the volume share in the global market. Rapid industrialization, easy availability of raw material supply and presence of largest production base with minimal regulatory norms are various factors attributed in growth of the Aluminium Metals in Asia Pacific region. China is the largest producer and consumer of aluminium metals in the world. In terms of consumption, the china market pegged at 25,220 KT in 2016. Growing at a CAGR of 6.29% over the forecast period, China aluminium consumption is antcipated to reach 36,364 Kt by 2022 end
The global Aluminium Metals market is segmented on the basis of type, application and region. On the basis of type, global Aluminium Metals market is segmented into primary aluminium, and recycled aluminium. Based on application, the global Aluminium Metals market is classified as? automotive & transportation, construction, foil & packaging, electrical, machinery & equipment, consumer goods, and others.
Key players of the global Aluminium Metals market are Rusal, Aluminium Corporation of China, Rio Tinto Alcan Inc., Alcoa Inc., Norsk Hydro ASA, China Hongqiao Group Limited, Emirates Global Aluminium PJSC among others.
Global Aluminum Metals market is projected to reach USD 160,696.1 million by the end of 2022, expanding at a CAGR of 5.3%. Asia-Pacific and especially China to account for largest market share global market due to growing application industries like construction & buildings, automotive in this region. Aluminum Metals market is a consolidated market with major dominance of Chinese manufacturers in the market. Tier 1 producers accounting for more than 80% of the overall production. Moreover, Chinese manufacturers cumulative contributing to around 50% of the overall production capacity.
The report covers brief analysis of geographical region such as:
- North America
- ·Rest of Europe
- Asia Pacific
- ·Rest of Asia Pacific
- Latin America
- Middle East & Africa
- Aluminium Metals manufacturers
- Traders and distributors of Aluminium Metals
- Aluminium Metals Associations
- Potential investors
- Raw material suppliers
- Aluminium foil
- Aluminium alloy
- Primary Aluminium
- Recycled Alumonium
- Light Weight Materials
- Bauxite mining