Aluminum Market is expected to generate a revenue of USD 188.98 Billion by 2030, Globally, at 2.60% CAGR: Verified Market Research®
The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new…
The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the global Aluminum Market.
JERSEY CITY, N.J. , Jan. 24, 2023 /PRNewswire/ -- Verified Market Research® recently published a report, "Aluminum Market" By Type (Pure Aluminum, Aluminum Alloys), By Product (Plates, Sheets & Foils, Cables and Wires), By End User (Transportation, Electrical, Construction), and By Geography.
As per the deep research carried out by Verified Market Research®, the global Aluminum Market size was valued at USD 150 Billion in 2021 and is projected to reach USD 188.98 Billion by 2030, growing at a CAGR of 2.60% from 2023 to 2030.
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Global Aluminum Market Overview
Aluminum is one of the widely used metals in various industries because of its electronegativity. It is significantly lighter in comparison to other metals. It is also resistant to water and dust. Aluminum is a highly conductive metal and can be improved as needed through the formation of alloys. Because of its non-toxic nature, Aluminum is widely used in industries such as the food and beverage industry and pharmaceutical industry as a packaging material. Because of its higher electric conductivity, aluminum is popular in manufacturing power transmission lines. Other properties of aluminum such as its resistance to corrosion, ease to recycle, reflective surface, etc. make it an ideal material for manufacturing various metallic products.
The primary driving factor for the global aluminum market is the rising disposable income globally, which has significantly boosted the demand for aluminum in consumer products. Besides its rising use in consumer products, the demand for aluminum has also increased in industries such as automotive, construction, building, etc.
In the automotive industry, aluminum can reduce fuel consumption and carbon footprint because of being lightweight. The rising construction industry is also estimated to increase the demand for industrial aluminum during the forecast period. Another major factor that is expected to drive the growth of the aluminum market is the applications of aluminum in the packaging industry.
Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The "Global Aluminum Market" is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.
The "Global Aluminum Market" study report will provide valuable insight with an emphasis on the global market. The major players in the market are Novelis Inc, Alcoa Corporation, Emirates Global Aluminum PJSC, Aluminum Corporation of China Limited (CHALCO), China Hongqiao Group Ltd., United Company RUSAL Plc., China Power Investment Corp. (CPI), East Hope Group Company Limited, Rio Tinto Alcan Inc., and Xinfa Group Co., Ltd.
Based on the research, Verified Market Research® has segmented the global Aluminum Market into Type, Product, End User, and Geography.
Aluminum Market, by Type
Aluminum Market, by Product
Aluminum Market, by End User
Aluminum Market, by Geography
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