Aluminum Market 2021 Growth Analysis by Manufacturers, Size, Historic Growth, Trends, Strategies, Forecast By 2027

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Aluminum Market Size, Company Revenue Share, Key
Drivers Trend Analysis, 2027
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Global Market Scenario of Aluminum Industry

• The aluminum market is poised to showcase
  excellent growth numbers owing to its rising
  demand for producing high-strength racing car
  components due to its lightweight nature. The
  Earth has an immense presence of aluminum under
  its surface. Interestingly, aluminum is never
  found in metallic nature owing to its chemical
  activity. Instead, it exists in compound form
  across rocks, vegetation and animals.
• In addition, aluminum possesses excellent heat
  management due to which it is used as a heat sink
  across several applications like computer
  motherboards and LED lights that require faster
  heat drainage. Owing to all these factors,
  aluminum finds its application across various
  industries like consumer durables,
  transportation, construction, and packaging among
  others, thereby contributing to the growth of the
  aluminum market.
• Looking at aluminum products, forged products are
  widely utilized across the aerospace industry as
  they can efficiently sustain under extreme
  conditions, especially at higher altitudes. This
  factor will majorly contribute to the growth of
  the industry. Meanwhile, the long products are
  prominently used for commercial transportation,
  constructing aircraft, and medical assembly.
  Additionally, the other products are predicted to
  exceed a revenue share of USD 5.9 billion by
  2027.

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Continue-

• The drawn processing method is touted to record a
  revenue share of around USD 21.9 billion with a
  CAGR of 5.1 over the projected timeframe. On the
  other hand, the casting method is speculated to
  hold a revenue share of over USD 50.11 billion
  through 2027. Moreover, the forging process is
  widely used across the automotive industry for
  producing critical, cost-effective, and
  lightweight components. Considering all the
  aforementioned factors, the market for aluminum
  will showcase exponential gains in the years to
  come.
• Based on application, aluminum market size from
  equipment machinery will proliferate at a CAGR
  of 5.3 over the stipulated timespan. Along with
  that, the other applications of aluminum will
  grow at a CAGR of 4.2 during the forecast
  period.
• On the regional front, Middle East Africa is
  anticipated to exceed a revenue share of USD 3.97
  billion with a CAGR of over 5.8 through the
  stipulated timespan. Owing to increasing demand
  for the product across several regional
  industries, the market for aluminum in Latin
  America will exhibit vigorous growth over the
  forthcoming years.

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360 Industry Analysis

• These companies are implementing innovative
  strategies to expand their footprints in the
  market. For instance, Hongqiao Group of China is
  planning to move more smelting capacity from
  Shandong, its industrial base to Yunnan, the
  hydropower rich province.
• The company planned to move nearly 2 million tons
  of annual capacity from Shandong to Yunnans
  Wenshan prefecture. This will help in getting
  seamless access to cleaner power source for the
  aluminum smelting process.
•  

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• Competitive Analysis
• Alcoa and Alumina Ltd., Rio Tinto, Chalco, Norsk
  Hydro, Rusal, South 32, Shandong Xinfa Aluminium
  Group, Hongqiao Group, SPIC, Emirates Global
  Aluminium, Alcoa Corporation, Vedanta Limited,
  Hangzhou Jinjiang Group, Century Aluminium
  Company, Arconic, JW Aluminum, Logan Aluminum,
  Hindalco, Novelis are some of the key players
  operating in the Aluminum Market.

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