The Processed Alumina And Aluminum Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2011-2022) and extends its insights into a ten-year forecast period (2024-2033).
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According to The Business Research Company’s Processed Alumina And Aluminum Global Market Report 2024, 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 growth in the historic period can be attributed to global economic trends, raw material prices, technological advancements, end-user industries.
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%. The growth in the forecast period can be attributed to sustainability initiatives, infrastructure development, electric vehicles (evs), supply chain resilience. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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.
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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
The processed alumina and aluminum market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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