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Aluminum Market Trend, Next Big Innovative Technology and Comprehensive Study | Reports 2031

The global aluminum market was valued at $148.1 billion in 2021, and is projected to reach $258.3 billion by 2031, growing at a CAGR of 5.82% from 2022 to 2031. Aluminum is the sixth most ductile and second most malleable metal present on earth. It possesses strong affinity for oxygen.
Published 25 June 2024

 According to the report published by Allied Market Research, the global aluminum market accrued $148.1 billion in 2021, and is predicted to garner $258.3 billion by 2031, registering a CAGR of 5.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

The immense use of aluminum in transportation, electricity, consumer goods, and building & construction industries drives the aluminum market growth. Favorable product features such as lightweight nature, dust resistance, and high degree of conductivity boost the market trends. The massive use of aluminum in food & packaging and pharmaceuticals will create new growth avenues for the market. Contrarily, the mining and processing of bauxite into aluminum is not eco-friendly, and can hinder the demand for aluminum.

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Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the aluminum market analysis from 2021 to 2031 to identify the prevailing aluminum market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the aluminum market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global aluminum market trends, key players, market segments, application areas, and market growth strategies.

The report offers detailed segmentation of the global aluminum market based on end user industry, series, processing method, and region.

Based on the end user industry, the transport segment accounted for the largest share of the market in 2021, contributing to nearly one-third of the overall share of the global aluminum market. However, the machinery & equipment segment is projected to record the highest CAGR of 6.4% from 2022 to 2031.

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Based on the processing method, the extrusions segment accounted for the largest share of the market in 2021, contributing to nearly one-third of the overall share of the global aluminum market. However, the flat rolled segment is expected to contribute the largest market share in 2031.

Based on region, Asia-Pacific contributed toward the highest market share in 2021, accounting for nearly two-thirds of the global aluminum market. Moreover, the Asia-Pacific aluminum market is set to record the fastest CAGR of 6.0% from 2022 to 2031. The research also analyzes regions including North America, Europe, and LAMEA.

Key players profiled in the global aluminum market research report are Rio Tinto Alcan Inc., Alcoa Corporation, United Company Rusal Plc., Aluminium Corporation of China Limited, Emirates Global Aluminum PJSC, China Hongqiao Group Ltd., East Hope Group Company Limited, Hindalco Industries, Norsk Hydro ASA, and Xinfa Group Co., Ltd.

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About Us

Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts, and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.


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