Round Billets Industry Is Expected To Reach $0.72 Billion By 2031 - Alleima, Ellwood City Forge, UBE STEEL, Deutsche Nickel

The global Round Billets Market was valued at USD 0.51 billion in 2022 and is projected to reach USD 0.72 billion by 2030, growing at a CAGR of 10.1% from 2024 to 2031. The increasing need for renewable energy transmission across different regions is driving the demand for round billets, as they are essential for the construction of transmission towers and related infrastructure.

DataM Intelligence has released a new research report on "Round Billets Market Size 2024." This report offers in-depth insights into key factors such as regional growth, segmentation, CAGR, and the revenue status of leading players in the industry. Its aim is to present a detailed overview of the current market size in terms of value and volume, as well as potential opportunities and development trends.

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The Round Billets Market report majorly focuses on market trends, historical growth rates, technologies, and the changing investment structure. Additionally, the report shows the latest market insights, increasing growth opportunities, business strategies, and growth plans adopted by major players. Moreover, it contains an analysis of current market dynamics, future developments, and Porter's Five Forces Analysis.

Key Developments

In June 2022, Vista Metals Georgia, an independent producer of specialty aluminum products, commenced a $30 million casthouse expansion project at its Adairsville facility in Georgia. This expansion aims to enhance the company's capabilities in serving the aerospace extrusion and rolling markets.

In February 2022, Emirates Global Aluminium, the UAE's largest industrial company outside the oil and gas sector, announced plans to build a 150,000-tonne-per-year aluminum recycling facility. This facility, the first and largest of its kind in the UAE, will process post-consumer aluminum into low-carbon, high-quality aluminum billets.

In May 2021, Rashtriya Ispat Nigam Ltd (RINL), a state-owned steel company, initiated commercial production of forged wheels at its new plant in Rae Bareli, Uttar Pradesh. The facility, built at a cost of approximately Rs 1,680 crore, has an annual production capacity of 100,000 forged wheels.

Market Dynamics:
The growing number of passengers worldwide is driving aircraft production, which in turn boosts the demand for round billets used in aerospace components. Boeing, for example, delivered 302 aircraft in 2021, nearly double the number from the previous year, and announced in March 2022 a significant increase in 737 Max production.

This surge in aircraft production is attributed to higher consumer spending and increased capital expenditure, contributing to the U.S. economy's fastest growth since 1984. Despite a high unemployment rate of 5.7% in 2021, the economic rebound indicates a revival in industrial activity, which is expected to further stimulate the demand for round billets throughout the forecast period.

Market Segment Analysis

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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Major Key players

• 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.

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