Aluminum is a lightweight, non-magnetic, soft, and ductile metal present in the Boron group. It is the third most abundant element found in the earth’s crust. It is usually extracted from minerals such as cryolite and bauxite. It forms a reflective coating when evaporated in vacuum, which is used for manufacturing telescope mirrors, packaging products, and toys. It is used in the production of a variety of products such as foils, window frames, kitchen utensils, airplane parts, beer kegs, and others.
Saudi Arabia aluminum market size was valued at $1.7 billion in 2018 and is anticipated to generate $2.4 billion by 2026. The market is projected to experience growth at a CAGR of 6.8% from 2019 to 2026. Saudi Arabia aluminum industry is significantly impacted by the growth in transportation industry. Application of aluminum in aircrafts, motor-vehicles, cars and rails owing to its light-weight properties rises the demand for aluminum in transport sectors. As Saudi Arabia is one of the major exporters of aluminum around the globe, the aluminum industry is driven by global demand for the metal. Moreover, favorable government policies that encourage foreign investments and joint ventures also act as driving factor for Saudi Arabia aluminum market growth. In-addition, technologically advanced processing equipment and methods used by Saudi Arabia aluminum processors and manufacturers also results in higher efficiency and hence positively impacting the Saudi Arabia aluminum market growth. However, rising products from China and Russia in international market restrain the industry growth. Moreover, making new customers in the industry also is a challenging aspect owing to easy switching options available for buyer. Meanwhile, rise in demand for recycled aluminum products and growth in usage of aluminum in emerging economies provide lucrative opportunities for the Saudi Arabia aluminum market expansion.
Developments in transport industry, technological advancements in aluminum processing methods and favorable government policies for increasing foreign investments in the country acts as driving factors for Saudi Arabia aluminum market growth. Increasing aluminum products from China & Russia in international market is hampering the growth of Saudi Arabia aluminum market. Meanwhile, rise in demand for recycled aluminum products is expected to provide potential growth opportunities for the Saudi Arabia aluminum industry.
The market is segmented into type, processing method, series, and end use industry. On the basis of type, the aluminum market is segmented into primary and secondary/scrap. Secondary aluminum/scrap is further sub segmented into tense/trump, taste, taint/tabor, tale, tata/toto, taldack, troma, and others. The processing method segment is divided into casting, extrusion, forging, pigments & powder, rods & bar, and flat rolled. By series, it is categorized into series 1, series 2, series 3, series 4, series 5, series 6, series 7, series 8, and series 9. By end user industry, Saudi Arabia aluminum market analysis is done for building & construction, transportation, electrical, industrial, consumer durable, foil & packaging, and others.
Key players operating in Saudi Arabia aluminum market are Aboura Metals, Al Saudia metal scrap trading LLC, Al Taiseer Aluminium Company, Alcoa Corporation, Aluminum Product Company (Alupco), Maaden - Saudi Arabian Mining Company, Nesma Recycling Co. Ltd., Saudi Aluminium Recycling Company Ltd, Star Steel Factory Co. Ltd., and Tawfiq Al Saleh Trad. Co. Other companies operating in Saudi Arabia aluminum market are Saudi Aluminum Manufacturing Co., ALUMATEC, Al Esra Aluminum Manufacturing and Casting Factory, Eastern Aluminum Extrusion Factory and others.
KEY BENEFITS FOR STAKEHOLDERS
- The report includes in-depth analysis of different segments and provides Saudi Arabia aluminum market share estimations between 2019 and 2026.
- A comprehensive analysis of the factors that drive and restrict the growth of the market is provided.
- Porter’s five forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies.
- Estimations and Saudi Arabia aluminum market forecast are based on factors impacting the market growth and Saudi Arabia aluminum market size in terms of both value and volume.
- Key market players are profiled to gain an understanding of the Saudi Arabia aluminum market trends and strategies adopted by them.
- This report provides a detailed analysis of the current Saudi Arabia aluminum market trends and future estimations from 2019 to 2026, which helps identify the prevailing market opportunities.
KEY MARKET SEGMENTS
- Primary Aluminum
- Secondary Aluminum/Scrap
By Processing Method
- Pigments & Powder
- Rods & Bar
- Flat Rolled
- Series 1
- Series 2
- Series 3
- Series 4
- Series 5
- Series 6
- Series 7
- Series 8
- Series 9
By End Use Industry
- Building & Construction
- Consumer durable
- Foil & Packaging
- Others (Machinery & Equipment)
- Key Players
- ·Aboura Metals
- ·Al Saudia metal scrap trading LLC
- ·Al Taiseer Aluminium Company
- ·Alcoa Corporation
- ·Aluminum Product Company (Alupco)
- ·Maaden - Saudi Arabian Mining Company
- ·Nesma Recycling Co. Ltd.
- ·Saudi Aluminium Recycling Company Ltd
- ·Star Steel Factory Co. Ltd.
- ·Tawfiq Al Saleh Trad. Co.