Aluminum Billets Market Outlook 2024: Exclusive Report By The Business Research Company | Glencore PLC, BHP Group Limited, Rio Tinto PLC, Hindalco Industries Ltd., Norsk Hydro ASA, Vedanta Resources

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company offers in-depth market insights through Aluminum Billets Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.

Market Size And Growth Forecast:
The aluminum billets market size has grown strongly in recent years. It will grow from $95.93 billion in 2023 to $104.47 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to demand from automotive industry, demand from aerospace industry, rising construction and infrastructure development, government initiatives .

The aluminum billets market size is expected to see strong growth in the next few years. It will grow to $141.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing urbanization and infrastructure development, renewable energy infrastructure, rising demand for aluminum in the packaging industry, rising disposable incomes, aluminum based products launch. Major trends in the forecast period include technological advancements in aluminum production, transportation innovations, investments in aluminum productions, .

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Market Segmentation:
The main types of aluminum billets are Series 1000, Series 3000, Series 6000 and others. Series 1000 aluminum billets are composed of almost pure aluminum, with at least 99% aluminum content and are commonly used in applications that require high electrical conductivity and corrosion resistance but not high mechanical strength. The manufacturing process includes continuous casting, direct chill casting and semi-continuous casting, used to produce billets with small diameters, large diameters with high purity and standard purity. It is used in several applications, such as automotive, building and construction, transportation, electrical and energy and others.
Aluminum Billets Global Market Report 2023 provides data on the global aluminum billets market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors' revenues, profiles and market shares. The aluminum billets market report identifies opportunities and strategies based on market trends and leading competitors' approaches.

Major Driver - Rapid Adoption Of Billets Drives Growth In The Aluminum Billet Market Is Fueled By Automotive Industry Demand
The rapid adoption of billets in the automotive industry is expected to propel the growth of the aluminum billet market going forward. The automotive industry refers to the collection of companies, organizations and activities involved in designing, developing, manufacturing, marketing and selling motor vehicles. Aluminum billets are widely used in the automotive industry due to their superior strength-to-weight ratio, durability and versatility. They are used to manufacture various components, such as engine components, suspension components, wheels, transmission components and other components. For instance, in May 2023, according to a study by European Aluminum, a Belgium-based industry association, the average amount of aluminum used in European cars had increased to 205 kg in 2022, an increase of 18% from 174 kilograms in 2020. Further, the average aluminum content is projected to increase from 205 kilograms in 2022 to 237 kilograms by 2026 (+15.6%) and 256 kilograms per vehicle by 2030 (+24.9%). Therefore, the rapid adoption of billets in the automotive industry will drive the growth of the aluminum billet market.

Competitive Landscape:
Major players in the aluminum billets market are Glencore PLC, BHP Group Limited, Rio Tinto PLC, Hindalco Industries Ltd., Norsk Hydro ASA, Vedanta Resources, Novelis Inc., China Hongqiao Group Limited, Alcoa Corporation, United Company RUSAL, South32 Ltd., Arconic Inc., Constellium SE, Emirates Global Aluminium (EGA), Aluminum Bahrain (Alba ), Shandong Nanshan Aluminum Co. Ltd., Kaiser Aluminum Corporation, Century Aluminum Company, National Aluminium Company Limited15, Kamensk-Uralsky Metallurgical Works, Aluar Aluminio Argentino S.A.I.C, Guangxi Liuzhou Yinhai Aluminum, Aluminum Corporation of China (CHINALCO), Gulf Aluminium Rolling Mill Company (GARMCO), Vista Metals Corp., Matalco Inc., FutureX Holding Limited, Jiangyin Comat Metal Products, Shawinigan Aluminium Inc.

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Top Trend - Adoption Of Advanced Technology Propels Innovation In The Aluminum Billet Market
Major companies operating in the aluminum billet market are adopting new technologies to develop better products, such as high-speed billets to sustain their position in the market. High-speed billets are a type of billet used in the extrusion industry that are manufactured with high engineering precision to improve extrusion speed. For instance, in December 2021, Vedanta Aluminum Limited, an India-based aluminum producer, introduced high-speed billets targeting the global extrusion sector. These billets are crafted using advanced engineering technologies such as the Wagstaff Hot-Top Air Slip Casting System from the USA and the Hertwich Continuous Homogenizing Furnace from Austria. Through meticulous process control and optimized chemistry, these billets offer exceptional extrusion speed while maintaining the robustness of the final extruded profile and enhancing extrusion speed by a minimum of 25% or more, contingent on the extrusion environment.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aluminum Billets Market Characteristics
3. Aluminum Billets Market Trends And Strategies
4. Aluminum Billets Market - Macro Economic Scenario
5. Aluminum Billets Market Size And Growth
…..
27. Aluminum Billets Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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