Aluminium Market 2024: Future Scope, Industry Growth, Demand Analysis, and Competitive Regional Analysis Forecast Through 2024-2031 | Century Aluminium Company, Rio Tinto.

Global Aluminium Market reached US$ 152.2 billion in 2022 and is expected to reach US$ 233.3 bllion by 2031, growing with a CAGR of 5.5% during the forecast period 2024-2031.

The Aluminium market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Aluminum Market revolves around the production, processing, and use of lightweight, corrosion-resistant metal across industries like automotive, aerospace, construction, and packaging. Demand is fueled by the shift toward sustainable materials, electric vehicles (EVs), and recyclable packaging. Technological advancements in aluminum recycling, alloy development, and energy-efficient production are shaping market growth, alongside increasing emphasis on decarbonization and circular economy initiatives.

Forecast Growth Projected:

The Global Aluminium Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

List of the Key Players in the Aluminium Market:

Alcoa Corporation, Aluminium Corporation of China Limited, Century Aluminium Company, Rio Tinto, United Company RUSAL, Norsk Hydro ASA, Emirates Global Aluminium, National Aluminium Company Limited, Aluminium Bahrain and Kaiser Aluminium Corporation.

Industry Development:

On July 17, 2023, Aludecor introduced Nexcomb, an innovative line of Aluminium Honeycomb Panels designed to inspire next-generation creativity. As India's leading brand for high-quality Metal Composite Panels (MCP), Aludecor takes pride in launching this groundbreaking product.

In July 2023, Jindal Aluminium Limited (JAL) announced plans to invest ₹100-150 crore in its Bhiwadi factory to expand its production capacity to 60,000 tonnes annually. The company had previously invested ₹100 crore in acquiring the facility in 2021, followed by a ₹250 crore infusion in 2022. With this latest investment, JAL's total commitment to the facility will reach nearly ₹500 crore, ensuring it meets the growing market demand.

Research Methodology

Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.

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Segment Covered in the Aluminium Market:

By Product: Pure Aluminium, Alloy Aluminium.

By Application: Pigments and Powder, Foils, Wires, Sheets and Plates, Rod and Bars, Ingots.

By End-User: Transportation, Packaging, Construction, Electrical and Electronics, Consumer Goods, Industrial Equipment and Machinery, Others.

This Report Covers:

✔ Go-to-market Strategy.

✔ Neutral perspective on the market performance.

✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.

✔Customized regional/country reports as per request and country level analysis.

✔ Potential & niche segments and regions exhibiting promising growth covered.

✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).

Regional Analysis for Aluminium Market:

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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Frequently asked questions:

➠ What is the global sales value, production value, consumption value, import and export of Aluminium market?

➠ Who are the global key manufacturers of the Aluminium Industry? How is their operating situation (capacity, production, sales, price, cost, gross, and revenue)?

➠ What are the Aluminium market opportunities and threats faced by the vendors in the global Aluminium Industry?

➠ Which application/end-user or product type may seek incremental growth prospects? What is the market share of each type and application?

➠ What focused approach and constraints are holding the Aluminium market?

➠ What are the different sales, marketing, and distribution channels in the global industry?

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