Global Processed Alumina And Aluminum Market Trends And Strategies Of Major Players In The Processed Alumina And Aluminum Market 2021-2030
19 Jan, 2021
The processed alumina and aluminum market consists of sales of processed alumina and aluminum by entities (organizations, sole traders and partnerships) primarily engaged in alumina extraction primarily from bauxite ore, producing aluminum from alumina, recovering aluminum from scrap or dross, refining aluminum by any process, alloying purchased aluminum and rolling, drawing, casting, extruding and alloying aluminum and aluminum-based alloy into primary forms such as bar, foil, pipe, plate, rod, sheet, tube, wire.
Global Processed Alumina And Aluminum Market Size And Drivers:
The global processed alumina and aluminum market is expected to grow from $748.51 billion in 2020 to $804.12 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.09 trillion in 2025 at a CAGR of 8%. The growth in the historic period was mainly driven by the increase in construction activity in emerging markets.
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Trends In The Global Processed Alumina And Aluminum Market
Aluminum manufacturers are using furnace insulators to minimize energy loss during the melting process. Furnace insulators are temperature resistant materials used for thermal insulation of furnaces. Advanced furnace insulators have temperature resistance of up to 1200C with low shrinkage of less than 1% at 700C. They also provide high resistance to thermal shock, abrasives, and chemicals. Recent tests have indicated that in terms of thermal conductivity, the advanced low bio-persistent fiber-based board furnace insulator perform better than calcium silicate by about 20% at 600C and 15% at 800C.
Global Processed Alumina And Aluminum Market Segments:
The global processed alumina and aluminum market is further segmented based on type, application and geography.
By Type: Aluminum Products From Purchased Aluminum, Secondary Smelted And Alloyed Aluminum, Refined Alumina And Primary Aluminum Production.
By Application: Automotive, Manufacturing, Others.
Subsegments Covered: Sheet, Plate, Foil, Welded Tube, Smelted Aluminum, Alloyed Aluminum, Refined Alumina, Aluminum Production.
By Geography: The global processed alumina and aluminum market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Among these regions, the Asia Pacific was the largest region in the global processed alumina and aluminum market, accounting for 70% of the total market.
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Processed Alumina And Aluminum Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides processed alumina and aluminum market overviews, analyzes and forecasts market size and growth for the global processed alumina and aluminum market, processed alumina and aluminum market share, processed alumina and aluminum market players, processed alumina and aluminum market segments and geographies, processed alumina and aluminum market’s leading competitors’ revenues, profiles and market shares. The processed alumina and aluminum market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.