Alumina and aluminum production & processing market include different establishments mainly involved in the alumina extraction primarily from bauxite ore that produce aluminum from alumina, refining aluminum by any process, recovering aluminum from the scrap or dross, alloying purchased aluminum & rolling, casting, drawing, extruding and alloying aluminum & aluminum-based alloy into primary forms such as foil, pipe, bar, plate, rod, tube, sheet and wire.
Aluminum is one of the most adequately available metals, which is commonly mined from the bauxite. It is consumed across a range of applications throughout various industry verticals such as electrical & electronics, aerospace, automotive, and building & construction. Some essential features of aluminum include high strength, corrosion resistance, durability, low metal density, and ductility etc.
As per analysis, “Alumina And Aluminum Production And Processing Global Market Report 2020-30: Covid 19 Impact and Recovery” some of the renowned companies operating in the global alumina, aluminum production & processing market are Rio Tinto; United Co RUSAL PLC; Norsk Hydro; Alcoa; Weiqiao/ Hongqiao Group and among others. Key manufacturers are producing modified aluminum alloys for automobile manufacturers to produce the light-weight vehicles. Usage of aluminum alloys in the vehicles reduces the carbon emissions, enhances fuel economy and improves the overall stability as aluminum alloys significantly reduces the vehicle body weight. This is mainly driven by stringent emission regulations and increasing pressure to improve the economy by many national & state governments.
Based on type, alumina, aluminum production & processing market can be categorized as alumina refining & primary aluminum production, secondary smelting & alloying of aluminum and aluminum product manufacturing from purchased aluminum. In addition, based on application, market can be categorized as manufacturing and automotive.
The alumina, aluminum production & processing market is driven by growth in technological advancements, followed by rapidly increasing applications across various end user industries and growth in transport industry. Additionally, rise in usage of metallurgical-grade alumina for aluminum production is another major growth factor for this market. Usage of thus metallurgical-grade alumina is followed by that of chemical-grade alumina in Asia-Pacific region. Huge quantities of chemical-grade alumina are mainly consumed in China owing to growth in requirement in refractories, abrasives, and ceramics. High demand for this type of grade can be mainly credited to its better product characteristics, and demand for high-performance substrates in the automobile, construction, and electrical & electronics sectors. Apart from this, increase in competition from substitutes and fluctuating prices of raw materials are major hampering factors for global market.
By regional analysis, the Asia-Pacific is the largest region in the alumina, aluminum production & processing market. This can be attributed to region’s huge manufacturing, transport, automobile, and electrical market, especially in countries such as Japan, China, and Korea. China has the major market share in all aluminum end-use industries. The Europe and North-America regions are estimated to exhibit higher growth rate caused by growth in economy and rise in demand for lightweight material from the automotive industry over the forecast period. In addition, the Middle Eastern & African regions are also estimated to exhibit higher CAGR as a result of growth in construction industry and speedy industrial growth during the forecast period.
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Global Alumina Aluminum Production and Processing Market
Related Reports:-
Alumina and Aluminum Production and Processing Global Market Forecast to 2022
Alumina and Aluminum Production and Processing Global Market Report 2019
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