Industry Background:
Growing urbanization will help to boost global aluminum ingot market. The aluminum ingot is an important raw material for producing aluminum products. It is an environment-friendly metal material with heat and electric conductivity, and light, malleable, corrosion-resisting, and recycling features, which allow its wide use in many sectors like construction, electricity, transportation, packaging, and daily consumption products.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Alcoa (United States), Hindalco Industries (Aditya Birla Group) (India), Aluminum Corporation of China (China), EGA (United Arab Emirates), Aluminum Bahrain (Bahrain), China Hongqiao Group Limited (China), Rio Tinto (United Kingdom), Rusal (Russia), China Power Investment Corp. (CPI) (China) and Norsk Hydro ASA (Norway) |
This growth is primarily driven by Increasing Demand Due Growth in Construction Industry and High Demand due to Rapid Urbanization.
Globally, a noticeable market trend is evident Technological Advancements in Aluminum Manufacturing Technologies and Processing Equipment
The Aluminum sector in the Asia- Pacific region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Vendors, such as Alcoa (United States), Hindalco Industries (Aditya Birla Group) (India), Aluminum Corporation of China (China), EGA (United Arab Emirates), Aluminum Bahrain (Bahrain), China Hongqiao Group Limited (China), Rio Tinto (United Kingdom), Rusal (Russia), China Power Investment Corp. (CPI) (China) and Norsk Hydro ASA (Norway), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market in new regions by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. Key players are exploring new geographies through expansions and acquisitions across the globe to avail a competitive advantage through combined synergies.
Key Developments in the Market:
On 26th June 2019, RUSAL, one of the leading global aluminium producers, has launched a potroom control system as part of its production efficiency improvement strategy. Such a development will use advanced scientific and methodological approaches based on forecast analytics known as ‘BigData’.
In February 2023, Rio Tinto and Marubeni partnered to create stronger and more responsible Aluminium supply chains. The first transaction involves a batch of Rio Tinto's RenewAlTM high-purity aluminium from the sustainably powered New Zealand Aluminium Smelters, which is being sold to a significant Japanese motorcycle manufacturer that is dedicated to cutting carbon emissions throughout its supply chains and manufacturing process.
Influencing Trend:
Technological Advancements in Aluminum Manufacturing Technologies and Processing Equipment and Growth in Transportation Industry
Market Growth Drivers:
Increasing Demand Due Growth in Construction Industry and High Demand due to Rapid Urbanization
Challenges:
Lowering Energy Requirement
Restraints:
Volatile Raw Material Price
Opportunities:
Huge Demand in Foil & Packaging Industry Due To Attraction towards E-Commerce Industry and Increase in Use of Recycled Aluminum Products Globally
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Aluminum Ingot Market
- Analysis about New Entrants in Aluminum Ingot Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Aluminum Ingot Study Sheds Light on
The Aluminum Ingot Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Aluminum Ingot industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Aluminum Ingot industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.