Thursday, May 23, 2024

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Manufacturing And Construction Growth in Transport Industry Expected to Drive Global Aluminum Metals Market: Ken...

Growth in Transport Industry Expected to Drive Global Aluminum Metals Market: Ken Research

Aluminum is an electronegative metal that possesses strong affinity for oxygen. It is largely produced from bauxite. It exhibits superior physical properties for instance ductility, malleability, durability, and machinability. It possesses high degree of conductivity, extremely light having 2.7 g/ccm density, impervious to dust, and exhibits significant strength when alloyed. It is generally used in pharmaceutical and food & packaging industries, as it is nontoxic in nature, inhibits growth of microorganisms and preserves food for prolonged times. It is good electrical conductor thus used frequently in electrical transmission lines. Additionally, it is used as a key propellant for solid rocket booster motor in space shuttle owing to its high volumetric energy density.

The key characteristics are included high strength, lightweight, flexibility, corrosion resistance, good thermal & electrical conductivity and barrier properties.

According to study, “Global Aluminium Metals Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global aluminum metals market are Alcoa Corporation, China Hongqiao Group Ltd., Aluminium Corporation of China Limited (CHALCO), China Power Investment Corp. (CPI), Emirates Global Aluminum PJSC, East Hope Group Company Limited, Norsk Hydro ASA, United Company RUSAL Plc., Rio Tinto Alcan Inc., Xinfa Group Co., Ltd., Ball Corporation, Aluminium Bahrain B.S.C, BHP Billiton Limited, Crown Holdings Incorporated, Century Aluminium Company, Constellium N.V., Hindalco Industries Ltd., Glencore International AG, Jindal Iron & Steel Company Limited , Kaiser Aluminum Corporation, JW Aluminum Company, National Aluminum Company Limited, Rexam plc., Orkla ASA, Shandong Nanshan Aluminum Co., Ltd., State Power Investment Corporation, South32 Limited, Talco Aluminum Company, Vedanta Resources Plc., Vale SA.

Based on type, aluminum metals market is segmented into industrial pure aluminum, high pure aluminum and industrial high purity aluminum. Based on product type, market is segmented into extrusions, flat rolled, forgings, castings, pigments & powder, and rod & bar. Flat rolled segment includes foil stock, common alloy, Can body stock, building sheet, lithosheet and others. Rod & bar segment includes wires & cables, aluminum conductors and others. Based on series type, market is segmented into series 1, series 2, series 3, series 4, series 5, series 6, series 7 and series 8. In addition, based on end-use industry, market is segmented into transport, electrical engineering, building & construction, consumer goods, machinery & equipment, foil & packaging, and others (aluminum air batteries and solar panel nanotechnology). The transport segment holds major share in market because of the growth of the automotive, marine, aerospace, transportation, and rail industries.

The aluminum metals market is driven by growth in transport industry, followed by increase in applications across various end user industries, rise in income of people living in urban areas, increase in research & development (R&D) activities to develop more effective or innovative & cheaper aluminum products and growth in technological advancements. However, increase in competition from substitutes and fluctuating prices of raw materials may impact the market. Moreover, rise in demand from emerging economies is a key opportunity for market.

Based on geography, the Asian-Pacific region dominates the aluminum metals market owing to significant investments in construction & infrastructural development, growth in automotive industry and rapid industrialization in the region. Whereas, the European and North-American regions are estimated to witness higher growth rate due to rise in economic growth and growth in demand for lightweight material from the automotive industry over the forecast period.

For More Information, click on the link below:-

Global Aluminium Metals Market Research Report

Related Reports:-

Aluminium Metals Market Research: Global Status & Forecast by Geography, Type & Application (2015-2025)

Global Aluminium Metals Market Analysis 2013-2018 and Forecast 2019-2024

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

ankur@kenresearch.com

+91-9015378249

RELATED ARTICLES

Engineering Efficiency: A Look at Key Players in the $52.3 Billion Industrial Engineering Market

The world runs on efficiency, and behind the scenes, smooth-operating factories and streamlined production lines stand the heroes of optimization: industrial engineers. As a...

Optimizing the Future: The Rise of the $2.04 Trillion Engineering Service Industry

The industrial engineering market plays a vital role in driving efficiency and productivity across various industries. As an integral part of the broader engineering...

The Rise of Modular Construction in a Dynamic Market

In the ever-evolving landscape of the construction industry, modular construction has emerged as a game-changer, promising efficiency, cost-effectiveness, and sustainable solutions. As business heads...

Most Popular

Navigating the Dynamic Landscape of the Smartphone Industry

The Smartphone industry stands at the forefront of technological innovation, shaping the way individuals communicate, work, and interact with the digital world. From cutting-edge...

US Food Allergen Testing Industry: Trends, Challenges, and Opportunities

The US Food Allergen Testing industry is a critical sector safeguarding public health by ensuring food safety and catering to the growing population with...

The Dynamics of the Coal Mining Market: Growth Drivers and Challenges

Introduction Coal mining serves as a cornerstone in fueling industries, generating electricity, and fostering economic growth worldwide. This article delves into various facets of the...

A Market Research Report on the Cosmeceuticals Industry in India

The Indian beauty landscape is witnessing a fascinating shift. Consumers are no longer just seeking products that enhance appearance; they are actively seeking solutions...