Global Aluminum Market is estimated to reach USD 256.55 Billion by 2028, according to a new report by Reports and Data. Global Aluminum is a low-density, silver-colored metal. The metal finds application in a huge variety of commercial sectors. It can be strengthened by the addition of appropriate alloying elements such as Copper, Magnesium, Manganese, and Silicon, among others. It is commonly used in both cast forms and wrought. The low density of the metal results in its extensive use in the aerospace sector, and in other transportation fields. It is also resistant to corrosion, which leads to its use in food and chemical handling and architectural purposes.
Global Aluminum is an excellent electrical conductor and thus is used frequently in electrical transmission lines. Moreover, it is used as a primary propellant for solid rocket booster motor in space shuttle due to its high volumetric energy density. Corrosion resistance, recyclability, and reflectivity are other characteristics of Global Aluminum, which makes it a favorable choice for different industrial applications.
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In market segmentation by manufacturers, the report covers the following companies-
Aluminium Corporation Of China Limited, China Power Investment Corporation, Emirates Global Aluminium PJSC, Rio Tinto Alcan Inc., Norsk Hydro Asa, United Company Rusal Plc, Alcoa Corporation, East Hope Group Company Limited, Dubai Global Aluminum Company Limited, and Century Global Aluminum Company, among others.
Further key findings from the report suggest:
All types of vehicles, from spaceships to bikes, are made from Global Aluminum. This metal allows drivers to move at breakneck speed. The metal makes up 75-80% of the modern aircraft. The Global Aluminum alloys are used in several products, such as the body of space shuttle vehicles, telescopic antenna of the Hubble space telescope, parts of launch vehicles and orbital stations, hydrogen tanks used in rockets, fastening units for solar panels, and tips of rockets.
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The research offers extensive data about the key factors such as the drivers, challenges, restraints and opportunities and their impact on the growth rate. Most importantly, the market intelligence report delivers competitive intelligence data from market evaluation and help companies plan their growth strategies from the consumption volume as well as forecast statistics.
The study on the Global Aluminum market further blends in the best of both primary and secondary research to estimate and verify the current status of import and export, demand and supply, consumption power, spending capacity and distribution channel worldwide. The report examines the market standing of prominent manufacturers and evaluates the strategies they have adopted to stay competitive. The study also applies qualitative and quantitative techniques to assess the annual and financial performance of the top vendors and insights from market leaders. Comprehensive coverage of the recent developments including joint ventures, collaborations, investments, product launches and acquisitions and mergers form an important part of the research on the Global Aluminum market for the forecast period, 2021 to 2028
In market segmentation by types of Global Aluminum market, the report covers-
Primary Global Aluminum
Secondary Global Aluminum
Processing Method Outlook
Flat Rolled
Extrusions
Forgings
Castings
Rod and Bar
Pigments and Powder
In market segmentation by geographical regions, the report has analysed the following regions-
North America
Europe
Asia-Pacific
Middle East and Africa
Latin America
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