Aluminum Market: Global Demand, Growth Analysis & Opportunity Outlook 2020-2024 | Technavio

NEW YORK, Oct. 4, 2021 /PRNewswire/ — The aluminum market is poised to grow by 13.66 mn tons from 2020…

NEW YORK, Oct. 4, 2021 /PRNewswire/ — The aluminum market is poised to grow by 13.66 mn tons from 2020 to 2024. Technavio’s latest market research report estimates that the aluminum market will be progressing at a CAGR of almost 3%. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

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The aluminum market is fragmented, and the degree of fragmentation will accelerate during the forecast period. The use of aluminum cans in the beverage sector will offer immense growth opportunities. However, to leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.

Aluminum Market 2020-2024: Segmentation

  • End-user
    • Transportation
    • Construction
    • Packaging
    • Electrical Engineering
    • Others
  • Geography
    • APAC
    • Europe
    • North America
    • MEA
    • South America
  • Market Landscape
    • Primary Aluminum
    • Secondary Aluminum

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Aluminum Market 2020-2024: Vendor Analysis and Scope

To help businesses improve their market position, Technavio’s report provides a detailed analysis of vendors operating in the market. Some of the major vendors of the aluminum market include Alcoa Corp., Aluminum Corp. of China Ltd., China Hongqiao Group Ltd., Emirates Global Aluminium PJSC, Kaiser Aluminum Corp., National Aluminium Co. Ltd., Norsk Hydro ASA, Rio Tinto Ltd., United Company Rusal Plc, and Xinfa Group Co. Ltd. Backed with competitive intelligence and benchmarking, our research reports on the aluminum market are designed to provide entry support, customer profile & M&As as well as go-to-market strategy support.

The report also covers the following areas:

Stringent regulations for environmental protection are likely to emerge as one of the primary drivers of the market. However, factors such as the presence of substitute products may threaten the growth of the market.

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Aluminum Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist aluminum market growth during the next five years
  • Estimation of the aluminum market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the aluminum market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of aluminum market vendors

Related Reports:

High Purity Alumina Market by Application and Geography – Forecast and Analysis 2021-2025

Aluminum Welding Wires Market in Europe by End-user by Volume – Forecast and Analysis 2021-2025

Aluminum Market Scope


Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of almost 3%

Market growth 2020-2024

13.66 mn tons

Market structure

Fragmented

YoY growth (%)

(3.70)

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 74%

Key consumer countries

China, US, India, Germany, and Japan

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Alcoa Corp., Aluminum Corp. of China Ltd., China Hongqiao GroupLtd., Emirates Global Aluminium PJSC, Kaiser Aluminum Corp., National Aluminium Co. Ltd., Norsk Hydro ASA, Rio Tinto Ltd., United Company Rusal Plc, and Xinfa Group Co. Ltd.

Market Dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impactand future consumer dynamics, and market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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