Aluminum
is an electronegative metal that possesses strong affinity for oxygen. It is
largely produced from bauxite. It exhibits superior physical properties for
instance ductility, malleability, durability, and machinability. It possesses
high degree of conductivity, extremely light having 2.7 g/ccm density,
impervious to dust, and exhibits significant strength when alloyed. It is
generally used in pharmaceutical and food & packaging industries, as it is
nontoxic in nature, inhibits growth of microorganisms and preserves food for
prolonged times. It is good electrical conductor thus used frequently in
electrical transmission lines. Additionally, it is used as a key propellant for
solid rocket booster motor in space shuttle owing to its high volumetric energy
density.
The
key characteristics are included high strength, lightweight, flexibility,
corrosion resistance, good thermal & electrical conductivity and barrier
properties.
Based
on type, aluminum metals market is segmented into industrial pure aluminum,
high pure aluminum and industrial high purity aluminum. Based on product type,
market is segmented into extrusions, flat rolled, forgings, castings, pigments
& powder, and rod & bar. Flat rolled segment includes foil stock,
common alloy, Can body stock, building sheet, lithosheet and others. Rod &
bar segment includes wires & cables, aluminum conductors and others. Based
on series type, market is segmented into series 1, series 2, series 3, series
4, series 5, series 6, series 7 and series 8. In addition, based on end-use
industry, market is segmented into transport, electrical engineering, building
& construction, consumer goods, machinery & equipment, foil &
packaging, and others (aluminum air batteries and solar panel nanotechnology).
The transport segment holds major share in market because of the growth of the
automotive, marine, aerospace, transportation, and rail industries.
The
aluminum metals market is driven by growth in transport industry, followed by
increase in applications across various end user industries, rise in income of
people living in urban areas, increase in research & development (R&D)
activities to develop more effective or innovative & cheaper aluminum
products and growth in technological advancements. However, increase in
competition from substitutes and fluctuating prices of raw materials may impact
the market. Moreover, rise in demand from emerging economies is a key
opportunity for market.
Based
on geography, the Asian-Pacific region dominates the aluminum metals market
owing to significant investments in construction & infrastructural
development, growth in automotive industry and rapid industrialization in the
region. Whereas, the European and North-American regions are estimated to
witness higher growth rate due to rise in economic growth and growth in demand
for lightweight material from the automotive industry over the forecast period.
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