Processed Alumina And Aluminum Market Industry Size, Demand, Growth Analysis, Share, Revenue, Manufacturers and Forecast 2030

The Global Processed Alumina And Aluminum Market Report provides a study with an in-depth overview, describing the product/industry scope and elaborates market outlook and status (2021-2030). The report is curated after in-depth research and analysis by experts. The report provides comprehensive valuable insights on the global Processed Alumina And Aluminum market development activities demonstrated by industry players, growth opportunities, and market sizing with analysis by key segments, leading and emerging players, and geographies.

The global processed alumina and aluminum market is expected to grow from $748.51 billion in 2020 to $804.12 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1093.06 billion in 2025 at a CAGR of 8%.

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Top Companies in the Global Processed Alumina And Aluminum Market: Rio Tinto; Weiqiao/ Hongqiao Group; United Co RUSAL PLC; Alcoa; Norsk Hydro

Market Overview:

Asia Pacific was the largest region in the global processed alumina and aluminum market, accounting for 70% of the market in 2020. Western Europe was the second largest region accounting for 10% of the global processed alumina and aluminum market. South America was the smallest region in the global processed alumina and aluminum market.

Aluminum manufacturers are using furnace insulators to minimize energy loss during the melting process. Furnace insulators are temperature resistant materials used for thermal insulation of furnaces. Advanced furnace insulators have temperature resistance of up to 1200oC with low shrinkage of less than 1% at 700oC. They also provide high resistance to thermal shock, abrasives, and chemicals. Recent tests have indicated that in terms of thermal conductivity, the advanced low bio-persistent fiber-based board furnace insulator perform better than calcium silicate by about 20% at 600oC and 15% at 800oC. Major companies offering furnace insulators include Morgan, Thermal Products Company, Nichias.

Geopolitical tensions are expected to have a negative impact on the alumina and aluminum production and processing market during the forecast period. Repercussions of geopolitical tensions include sanctions on Russia, trade protectionism and heightened military tensions in the Middle East. Sanction on Russia was related to the violation of Chemical and Biological Weapons Control and Warfare Elimination Act of 1991. In 2018, the US imposed a number of sanctions on Russia, including sales of defense articles and services and government credit or other financial assistance. Many countries placed trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. For instance, the US imposed tariffs on $550 billion worth of Chinese goods including metals and metal products as of January 2020. Continued violence and terrorism in the Middle East and other parts globally are also expected to have a negative impact on the market.

Regional Analysis:

North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India, Southeast Asia and Australia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)

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