Press release
Comprehensive Analysis on Aluminum Alloys Market with Key Players: United Company RUSAL, Rio Tinto Alcan, Alcoa, Aluminum Corporation of China, Constellium, Aluminium Bahrain, Kobe Steel, Norsk Hydro, Dubai Aluminium Company
Aluminum Alloys Market, Global Aluminum Alloys Market Size, Aluminum Alloys Industry, Aluminum Alloys Market Trends
Rising air travel trends for domestic as well as international commuting and rising global trade activities will boost the aluminum alloys demand in the aviation industry. According to the International Air Transport Association (IATA), number of flyers witnessed a steep increase from less than 3 billion in 2011 to more than 3.7 billion in 2016 and this number will double over the next two decades. U.S., China, and UK accounted for majority of the total with more than 1 billion flyers in 2016, but India is likely to surpass UK and other countries including Germany, Japan, and Indonesia in the coming years. Annual delivery of commercial aircrafts is gradually increasing to successfully serve the high number of flyers, hence propelling the overall aluminum alloys market. Aluminum Alloys Market size is slated to cross USD 150 billion by 2024; according to a new research report.
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Rapidly rising population and increasing urbanization in the BRICS nations will be an important driver for the global product market during the forecast years. These nations are gradually shifting their focus towards investments for industrial developments in order to create job opportunities to the increasing number of young as well as middle age population. Government initiatives to develop the infrastructure and housings in these countries, especially in China and India, will further catalyze the aluminum alloys market growth. The construction industry was worth beyond USD 3 trillion in 2016 in the BRICS countries and this number will reach close to USD 8 trillion by 2024. Growing usage of advanced materials in building construction as well as infrastructures such as flyovers and bridges will drive the global aluminum alloys market in the near future.
Asia Pacific will hold sway the global aluminum alloys market, accounting for more than two-third of the overall share in 2024. High growth in manufacturing and construction industries in China, Japan, and India will augment the regional growth during the forecast period.
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Aluminum alloys market, based on product types, is segmented into wrought and cast alloys. Wrought alloys will likely have a considerable share owing to its superior strength and lighter weight than cast alloys. They find major applications in the automotive and aerospace industries.
Aluminum alloys market application segments are categorized into construction, transportation, packaging, electrical, machinery, and others including consumer goods, etc. Construction industry, driven by the increasing need for shelters for the continuously growing population in the urban areas, will generate revenue above USD 35 billion in 2024.
Some key aluminum alloys market participants include Rio Tinto Alcan, Alcoa, United Company RUSAL, Aluminum Corporation of China, Constellium, Aluminium Bahrain, Kobe Steel, Norsk Hydro, Dubai Aluminium Company, Kaiser Aluminum Corporation, Aleris International, UACJ Corporation, ERAMET, Magna International Inc., and IBC Advanced Alloys Corp.
Table of Content:
Chapter 1. Aluminum Alloys Market Methodology and Scope
Chapter 2. Aluminum Alloys Market Executive Summary
Chapter 3. Aluminum Alloys Industry Insights
Chapter 4. Aluminum Alloys Market, By Product
Chapter 5. Aluminum Alloys Market, By End-user
Chapter 6. Aluminum Alloys Market, By Region
Chapter 7. Aluminum Alloys Market Company Profiles
For more information on this report, Please visit at: https://www.marketstudyreport.com/reports/aluminum-alloys-market/?utm_source=OPR-SP
Related Report:
Global Aluminum Alloys in Additive Manufacturing Sales Market Report 2018
In this report, the global Aluminum Alloys in Additive Manufacturing market is valued at USD XX million in 2017 and is expected to reach USD XX million by the end of 2025, growing at a CAGR of XX% between 2017 and 2025.
https://www.marketstudyreport.com/reports/global-aluminum-alloys-in-additive-manufacturing-sales-market-report-2018?utm_source=RR-SP
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