Aluminum Slugs Market Value to Reach US$ 6.0 Bn by 2031

The global aluminum slugs market (アルミスラグ市場) was valued at US$ 3.7 Bn in 2021 and is anticipated to reach US$ 6.0 Bn by 2031, expanding at a CAGR of 5.3% from 2022 to 2031. Increase in disposable income in developing countries and rise in demand for convenient & single-use packaging solutions are augmenting the global aluminum slugs market. Furthermore, benefits offered by these products, such as longer shelf-life and ease of recyclability, are propelling the global market.

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Aluminum Slugs Market: Key Findings of Report

Increase in Demand for Post-Consumer Recycled (PCR) Products: Increase in demand for post-consumer recycled aluminum slugs is a major factor driving the market. This is ascribed to rise in awareness about the environmental impact of using virgin aluminum and availability of advanced recycling technologies. Usage of post-consumer recycled aluminum slugs helps reduce carbon footprint and conserves natural resources. This, in turn, has resulted in increased demand for these recycled slugs in various end-use industries such as packaging, construction, and automotive. Rise in adoption of sustainable manufacturing practices by these industries contributes to the growth of the aluminum slugs market.

Aluminum Slugs Market: Growth Opportunities

Increase in adoption of sustainability initiatives by manufacturers presents attractive opportunities in the market

Ease of recycling and availability of technologies to attract consumer attention & interest are likely to bolster market growth

Rise in demand for hygienic and affordable single-use packaging solutions in the food & beverage industry is expected to propel market development

Aluminum Slugs Market: Key Players

Leading players assessed in the aluminum slugs market report are Ball Corporation, Aluminum Rheinfelden Semis GmbH, Aluman S.A., Signi Aluminum, Fuchuan Metal Technologies Co., Ltd., Rondal d.o.o., Haomei Aluminum, Impact Metal Parts Pvt. Ltd., Fried v. Neuman Gesellschaft G.m.b.H, Talum, Alucon, and Arnest AO.

The competition landscape of the global aluminum slugs (알루미늄 슬러그 시장) industry is consolidated, with the presence of a small number of large-sized suppliers and manufacturers accounting for large market share. Industry players are increasing investment in R&D in order to cater to the rise in customer demand for environment-friendly solutions. Furthermore, industry leaders are adopting growth strategies such as merger & acquisition and product portfolio expansion.

Aluminum Slugs Market: Regional Growth Assessment

Asia Pacific held the dominant share of the global market in 2021. The market in the region was valued at US$ 1.3 Bn in 2021 and is likely to expand at a CAGR of 5.9% from 2022 to 2031. This is ascribed to increase in disposable income of the population. Expansion of the packaging and electronics industries is another key factor driving the market in Asia Pacific.

Europe and North America are likely to witness robust growth during the forecast period. Leading factors augmenting the market in these regions are presence of large number of manufacturers and rise in adoption of eco-friendly packaging solutions by the population. Furthermore, increase in demand for sustainable solutions in the packaging sector, rise in investment by industry players in R&D, and surge in adoption of modern and advanced manufacturing technologies are the other drivers of the aluminum slugs industry in Europe and North America.

Aluminum Slugs Market: Segmentation

Aluminum Slugs Market, by Material

PCR (Post-consumer Recycled) Aluminum
PIR (Post-industrial Recycled) Aluminum
Green Virgin Aluminum
Others

Aluminum Slugs Market, by Application

Cans
Aerosol Cans
Automotive Cans
Others
Tubes
Collapsible Tubes
Cartridge Tubes
Others
Containers
Technical Parts
Others

Aluminum Slugs Market, by End-use

Automotive
Food & Beverage
Personal Care
Pharmaceutical
Paint & Coating
Electrical
Others

Aluminum Slugs Market, by Region

North America
Latin America
Europe
Asia Pacific
Middle East & Africa

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