Processed Alumina And Aluminum Market Forecast 2024-2033 - Major Trends, Segments And Fastest Growing Regions | Hindalco Industries Ltd., China Hongqiao Group Limited, Novelis Inc, Rio Tinto, Alcoa Corporation

"The new report published by The Business Research Company, titled Processed Alumina And Aluminum Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the processed alumina and aluminum market size has grown strongly in recent years. It will grow from $912.04 billion in 2023 to $971.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The processed alumina and aluminum market size is expected to see strong growth in the next few years. It will grow to $1207.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%.

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Increasing Construction Activities Drive Processed Alumina And Aluminum Market Growth
The alumina and aluminium market growth is driven by the increase in construction activity in emerging markets. The construction industry refers to the commercial manufacturing and trade sector that deals with developing, preserving, and repairing infrastructures. The construction industry is a significant consumer of aluminum products, including aluminum alloys, sheets, and extrusions. These materials are used in various construction applications such as windows, doors, roofing, siding, and structural components. As construction activities surge, the demand for aluminum in these applications also rises. Emerging markets that registered robust construction activity included China, Brazil, India, Saudi Arabia, and Indonesia. For instance, in February 2022, according to the report published by the Office for National Statistics, a UK-based administrative office of the United Kingdom statistics authority, in 2021, the annual construction sector rose by a record 12.7% compared to the previous year. In December 2021, the volume of monthly construction output climbed by 2.0%; this was entirely due to a rise in new work (3.5%). In addition to the monthly rise, the construction industry's quarterly production climbed by 1.0% in Q4 2021 compared to Q3. This increase was driven by both new work (1.1%) and repair and maintenance (0.8%). This rapid growth in construction activity contributed to the growth of the alumina and aluminium production and processing market.

Advanced Furnace Insulators Are Enhancing Efficiency And Sustainability In Aluminum Manufacturing
Aluminium 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 fibre-based board furnace insulator performs better than calcium silicate by about 20% at 600oC and 15% at 800oC. Major companies offering furnace insulators include Morgan, Thermal Products Company, Nichias.

The processed alumina and aluminum market covered in this report is segmented -

1) By Type: Aluminum Products From Purchased Aluminum, Secondary Smelted and Alloyed Aluminum, Refined Alumina and Primary Aluminum Production
2) By Application: Automotive, Manufacturing, Other Applications

Subsegments Covered: Sheet, Plate, Foil, Welded Tube, Smelted Aluminum, Alloyed Aluminum, Refined Alumina, Aluminum Production

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Major companies operating in the processed alumina and aluminum market include Hindalco Industries Ltd., China Hongqiao Group Limited, Novelis Inc, Rio Tinto, Alcoa Corporation, United Co RUSAL PLC, Aluminum Corporation of China Limited (CHALCO), Glencore International, Emirates Global Aluminum, Norsk Hydro ASA, Alcoa Corporation, Emirates Global Aluminium, Century Aluminum Company, Hindalco Industries, Alumina Limited, National Aluminium Company Limited (NALCO), China Power Investment Corporation, Alumina & Bauxite Limited, Aluminum Bahrain, Aluminum Corporation of America, KP Aluminum, Vedanta Limited, Shandong Nanshan Aluminum, Hulamin, Gulf Aluminum Rolling Mill Company, China Zhongwang Holdings, Eastern Aluminum, IBC Advanced Alloys, Tri-Arrows Aluminum, Vimetco N.V., Aludium.

Contents of the report:
1. Executive Summary
2. Processed Alumina And Aluminum Market Report Structure
3. Processed Alumina And Aluminum Market Trends And Strategies
4. Processed Alumina And Aluminum Market - Macro Economic Scenario
5. Processed Alumina And Aluminum Market Size And Growth
…..
27. Processed Alumina And Aluminum Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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