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According to the latest report by IMARC Group, titled, “Aluminium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The global aluminium market is expected to exhibit a growth rate (CAGR) of 5.4% during 2023-2028.This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.
Industry Definition and Application:
Aluminium (Al) is a lightweight, non-ferrous metal with a silvery-white appearance. It is extracted through the Bayer process, where bauxite ore is refined to obtain Al oxide, which is then smelted using the Hall-Heroult method to get pure Al. It offers excellent strength, durability, flexibility, malleability, and resistance to corrosion and oxidation. It also boasts superior reflectivity and high electrical and thermal conductivity. It is used in various applications due to its ability to form compounds with other elements. As a result, aluminium finds extensive applications in the production of automobiles, smartphones, tablets, personal computers (PCs), refrigerators, and other electronic devices across the globe.
Aluminium Market Trends:
The global aluminium market is primarily driven by increasing product utilization in the food and beverage sector to manufacture packaging containers due to its non-toxic nature, extended food preservation, and anti-microbial properties. Moreover, rising product utilization in modern vehicle production for manufacturing wheels, engines, chassis, and other parts has led to better fuel economy, efficiency, and lightweight, thereby positively influencing the market growth. Furthermore, the increasing use of aluminum in the construction industry for producing windows, curtain walls, roofing and cladding, solar shading, solar panels, railings, shelves, and other temporary structures are contributing to the market growth. Other factors, including rising demand for ready-to-eat (RTE) foods, emerging pharmaceutical packaging applications, expanding consumer electronics sales, and surging construction activities, are also anticipated to create a positive market outlook.
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Aluminium Market 2023-2028 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.
The report has segmented the market on the basis on series, processing method and end use industry.
Breakup by Series:
Breakup by Processing Method:
Breakup by End Use Industry:
Breakup by Region:
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