Round Billets Market is projected to reach USD 0.72 billion by 2031 - Alleima, Ellwood City Forge & UBE STEEL.

The global round billets market was valued at USD 0.51 billion in 2022 and is projected to reach USD 0.72 billion by 2031, with a compound annual growth rate (CAGR) of 10.1% during the forecast period from 2024 to 2031.

Round billets are cylindrical metal ingots produced from molten metal that is cast into a rounded shape. They are typically used as a starting material for further processing in various industries, including aerospace, automotive, and construction. The billets are usually made from aluminum, steel, or other metals and are used to create products through processes such as extrusion, forging, or machining. Their round shape allows for uniform distribution of metal, which is advantageous for manufacturing applications that require precise and consistent material properties.

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Key Developments:

• In June 2022, Vista Metals Georgia, an independent manufacturer of specialty aluminum products, initiated construction on a USD 30 million casthouse expansion project at its Adairsville production site in Georgia. This expansion aims to enhance the company's capacity to serve the aerospace extrusion and rolling markets.

• In February 2022, Emirates Global Aluminium, the UAE's largest industrial firm outside of oil and gas, announced plans to develop its first and largest aluminum recycling facility in the UAE. The facility, with a capacity of 150,000 tonnes per year, will focus on converting post-consumer aluminum into low-carbon, high-quality aluminum billets.

Market Dynamics:

Expansion of Aerospace Industry.

The growing demand for round billets in the aerospace industry is closely tied to the rise in aircraft production. As more aircraft are produced to meet increasing consumer and business travel needs, the demand for high-quality aluminum round billets for manufacturing aircraft parts also rises. For example, Boeing's increased delivery of aircraft and its ramped-up production of the 737 Max are key indicators of this trend. Additionally, the broader economic recovery and growth in capital expenditures further support the expansion of industrial activities, including the production and use of round billets.

Market Segmentation:

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.

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Competitive Landscape:

• Alleima
• Ellwood City Forge
• UBE STEEL
• Deutsche Nickel
• Baosteel Group
• AMETEK
• Emirates Global Aluminium
• Hindalco
• Matalco
• Vista Metals

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Related Reports:

Steel Market: https://datamintelligence.com/research-report/steel-market

Sintered Steel Market: https://datamintelligence.com/research-report/sintered-steel-market

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