According to the latest report by IMARC Group, titled, “ Aluminum Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027 “, The global aluminum market is expected to exhibit a CAGR of 5.66% during 2022-2027 .
Aluminum (AI) refers to a lightweight, non-ferrous, silvery-white metal. It is extracted by refining the bauxite ore through the Bayer process to obtain Al oxide, which is smelted using the Hall-Heroult process to release pure Al. It is highly durable, strong, malleable, flexible, and resistant to corrosion and oxidation. It also has excellent reflectivity and electrical and thermal conductivity. Since it easily forms compounds with other chemical elements, it is widely used for various applications. As a result, Al finds extensive applications in the manufacturing of automobiles, smartphones, tablets, personal computers (PCs), refrigerators, and other electronic products.
Aluminum Market Trends:
The market is primarily driven by the increasing usage of aluminum in various end-use industries across the globe. For instance, it is utilized in the food and beverage (FB) industry to make packaging containers as Alhelps retain the flavor and integrity of the content. Besides this, the escalating demand for beauty and personal care products due to increasing focus on appearance, inflating income levels, and the growing influence of social media is positively influencing the usage of aluminum in the cosmetics industry. Moreover, the imposition of government regulations, such as the plastic ban, in several countries is increasing the adoption of AI in the pharmaceutical industry. On account of these factors, the market is expected to witness substantial growth in the coming years.
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Aluminum Market 2022-2027 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 of 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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