Major companies in the processed alumina and aluminum market include Rio Tinto; Weiqiao/ Hongqiao Group; United Co RUSAL PLC; Alcoa and Norsk Hydro. The global processed alumina and aluminum market is expected to grow from $748.
New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Processed Alumina And Aluminum Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018788/?utm_source=GNW
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 $1093.06 billion in 2025 at a CAGR of 8%.
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. The processed alumina and aluminum market is segmented into aluminum products from purchased aluminum; secondary smelted and alloyed aluminum; and refined alumina and primary aluminum production.
Asia Pacific was the largest region in the global processed alumina and aluminum market, accounting for 70% of the market in 2020. Western Europe was the second largest region accounting for 10% of the global processed alumina and aluminum market. South America was the smallest region 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 1200oC with low shrinkage of less than 1% at 700oC. 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 600oC and 15% at 800oC. Major companies offering furnace insulators include Morgan, Thermal Products Company, Nichias.
Geopolitical tensions are expected to have a negative impact on the alumina and aluminum production and processing market during the forecast period. Repercussions of geopolitical tensions include sanctions on Russia, trade protectionism and heightened military tensions in the Middle East. Sanction on Russia was related to the violation of Chemical and Biological Weapons Control and Warfare Elimination Act of 1991. In 2018, the US imposed a number of sanctions on Russia, including sales of defense articles and services and government credit or other financial assistance. Many countries placed trade restrictions, especially on imports, to boost local production. For instance, Brexit is likely to lead to more trade restrictions between the UK and other countries in Europe. The US is also implementing several trade restrictions, especially with China, to boost its local production. For instance, the US imposed tariffs on $550 billion worth of Chinese goods including metals and metal products as of January 2020. Continued violence and terrorism in the Middle East and other parts globally are also expected to have a negative impact on the market.
The alumina and aluminum market growth in the historic period was mainly driven by the increase in construction activity in emerging markets. Emerging markets which registered robust construction activity included China, Brazil, India, Saudi Arabia and Indonesia. For instance, China’s construction market grew from $1,653 billion in 2016 to $2,279 billion in 2019. This rapid growth in construction activity contributed to the growth of the alumina and aluminum production and processing market.
Read the full report: https://www.reportlinker.com/p06018788/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001