The Business Research Company’s report on the Amusement Parks Global Market Report 2025 Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
Which emerging drivers are set to accelerate the growth of the aluminum billets market further?
The rapid adoption of billets in the automotive industry is expected to propel the growth of the aluminum billet market going forward. The automotive industry refers to the collection of companies, organizations and activities involved in designing, developing, manufacturing, marketing and selling motor vehicles. Aluminum billets are widely used in the automotive industry due to their superior strength-to-weight ratio, durability and versatility. They are used to manufacture various components, such as engine components, suspension components, wheels, transmission components and other components. For instance, in May 2023, according to a study by European Aluminum, a Belgium-based industry association, Further, the average aluminum content is projected to increase from 205 kilograms in 2022 to 237 kilograms by 2026 (+15.6%) and 256 kilograms per vehicle by 2030 (+24.9%). Therefore, the rapid adoption of billets in the automotive industry will drive the growth of the aluminum billet market.
Aluminum Billets Market Driver: Aluminum Billets Surging Role In Construction
The increasing the use of aluminum billets in construction activities is expected to propel the growth of the aluminum billets market going forward. Construction refers to an activity of putting together various elements to create a structure for a specific location, using a detailed design and plan. Aluminum billets are versatile materials in construction activities, contributing to the development of lightweight, durable, and corrosion-resistant building components and systems. For instance, in July 2023, according to the US Census Bureau, a US-based government agency, the value of construction activities increased from $1,626.4 billion in 2021 to $1,792.9 billion in 2022 with a growth rate of 10.2%. Therefore, the increasing use of aluminum billets in construction activities is driving the growth of the aluminum billets market.
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What are the key factors influencing the forecasted market size of the aluminum billets industry?
The aluminum billets market size has grown strongly in recent years. It will grow from $104.47 billion in 2024 to $113.43 billion in 2025 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to demand from automotive industry, demand from aerospace industry, rising construction and infrastructure development, government initiatives .
The aluminum billets market size is expected to see strong growth in the next few years. It will grow to $153.91 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing urbanization and infrastructure development, renewable energy infrastructure, rising demand for aluminum in the packaging industry, rising disposable incomes, aluminum based products launch. Major trends in the forecast period include technological advancements in aluminum production, transportation innovations, investments in aluminum productions.
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Who are the leading competitors in the aluminum billets market?
Major companies operating in the aluminum billets market are Glencore PLC, BHP Group Limited, Rio Tinto PLC, Hindalco Industries Ltd., Norsk Hydro ASA, Vedanta Resources, Novelis Inc., China Hongqiao Group Limited, Alcoa Corporation, United Company RUSAL, South32 Ltd., Arconic Inc., Constellium SE, Emirates Global Aluminium (EGA), Aluminum Bahrain (Alba ), Shandong Nanshan Aluminum Co. Ltd., Kaiser Aluminum Corporation, Century Aluminum Company, National Aluminium Company Limited15, Kamensk-Uralsky Metallurgical Works, Aluar Aluminio Argentino S.A.I.C, Guangxi Liuzhou Yinhai Aluminum, Aluminum Corporation of China (CHINALCO), Gulf Aluminium Rolling Mill Company (GARMCO), Vista Metals Corp., Matalco Inc., FutureX Holding Limited, Jiangyin Comat Metal Products, Shawinigan Aluminium Inc.
Which emerging trends are set to transform the aluminum billets market landscape?
Major companies operating in the aluminum billet market are focusing on introducing innovative products such as low-carbon aluminium value added products to gain a competitive edge. Aluminum value-added products refer to aluminum materials that have been processed beyond the raw or primary stage to enhance their properties, making them suitable for specific applications in industries such as automotive, aerospace, packaging, and construction. For instance, in September 2023, Fastmarkets, a UK-based company, launched two aluminium low-carbon differentials for VAP. Two new aluminium low-carbon differentials are being launched to enhance transparency and meet evolving market needs. One differential will focus on low-carbon aluminium billet with a three-month timing window, while the other will cover low-carbon aluminium value-added products (excluding billet) with a 12-month timing window.
How do different geographies compare in terms of market share and growth potential in the aluminum billets market?
Asia-Pacific was the largest region in the aluminum billets market in 2024. The regions covered in aluminum billets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Which major segments of the aluminum billets market are experiencing the fastest growth?
The aluminum billets market covered in this report is segmented –
1) By Type: Aluminum Billets Series 1000, Aluminum Billets Series 3000, Aluminum Billets Series 6000, Other Types
2) By Manufacturing Process: Continuous Casting, Direct Chill Casting, Semi-Continuous Casting
3) By Size: Small-Diameter Billets, Large-Diameter Billets
4) By Purity: High Purity, Standard Purity
5) By Application: Automotive, Building And Construction, Transportation, Electrical And Energy, Other Applications
Subsegments:
1) By Aluminum Billets Series 1000: 1050 Aluminum Billets, 1100 Aluminum Billets
2) By Aluminum Billets Series 3000: 3003 Aluminum Billets, 3105 Aluminum Billets, 3004 Aluminum Billets
3) By Aluminum Billets Series 6000: 6061 Aluminum Billets, 6063 Aluminum Billets, 6082 Aluminum Billets
4) By Other Types: Specialty Aluminum Billets, Aluminum Billets Series 5000, Aluminum Billets Series 7000
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How is the aluminum billets market defined?
An aluminum billet is a solid bar or block of aluminum typically produced through hot rolling blooms or ingots for extrusion, continuous casting, or indirect rolling and drawing. These billets are used as the starting material for various downstream manufacturing processes, such as extrusion, forging, rolling and machining, to create a wide range of aluminum products.
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