Round Billets Market Size, Share, Growth, Analysis, Trends and Outlook 2023-2030.

Global Round Billets Market reached USD 0.51 billion in 2022 and is expected to reach USD 0.72 billion by 2030, growing with a CAGR of 10.1% during the forecast period 2023-2030.

Transporting renewable energy across locations requires transmission towers and equipment. Transmission towers made from round billets are driving market expansion.

North America will account for 1/4th of the global round billets market by 2023-2030. Increasing residential and non-residential construction expenditure will fuel the industry. Spending on single-family homes rose from USD 400.5 billion in April 2021 to USD 477.6 billion in April 2022, according to the Census Bureau.

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Market Drivers:

Expansion of Aerospace Industry.

Global aviation growth is increasing demand for round billets for components in the aerospace sector by speeding up the construction of aircraft and facilitating market development. In 2021, Boeing shipped 302 aircraft, almost twice as many as it did the year before. Moreover, Boeing said in March 2022 that it will increase the manufacturing of the 737 Max.
The U.S. economy grew at its best rate since 1984 because to a rise in capital investment and consumer consumption. The nation's unemployment rate, which stood at 5.7% in 2021, was at a 37-year high. Throughout the projection period, there will likely be a rise in demand for round billets due to the rebound, which denotes a return to industrial activity.

Market Segmentation:

The Demand for Lightweight Materials Drives Aluminum Segment.

During the forecast period, aluminum is expected to hold around 1/4th of the global round billets market. Aluminum components are appropriate for environments where safety is paramount and a lighter metal is required for energy economy or speed. Aluminum parts can be found in tractors, airplanes, automobiles, energy missiles, drilling tools and ships.

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Round Billets Market Companies:

The major global players include Alleima, Ellwood City Forge, UBE STEEL, Deutsche Nickel, Baosteel Group, AMETEK, Emirates Global Aluminium, Hindalco, Matalco and Vista Metals.

By Product

• Axles
• Flanges
• Discs
• Forged Parts
• Rings
• Valves
• Others

By Material

• Carbon Steel
• Alloy Steel
• Stainless Steel
• Aluminum
• Others

By Process

• Open Die
• Closed Die
• Others

By End-User

• Automotive
• Aerospace
• Oil & Gas
• Power Generation
• Construction
• Railways
• Others

By Region

• North America
• Latin America
• Europe
• Asia Pacific
• Middle East and Africa

Geographical Share:

The market for round billets in the Asia-Pacific region has grown significantly, accounting for more than one-third of the worldwide market share in 2022. Three of the main nations that produce automobiles are China, India, and Japan.
Steel plays a significant role in the manufacture of vehicles in the area, which has a sizable automotive sector. The market for round billets in the area is anticipated to be impacted by the processing of round billets into different automotive parts and components.

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