According to this new report, global aluminum billets market was valued at US$ 47.11 Bn and is expected to reach the value of US$ 62.51 Bn by the end of 2024, expanding at a moderate CAGR of 4.12% during the forecasted period of 7-years, i.e. between 2017 and 2024.
Global Aluminum Billets Market: Market Driver
Aluminum billets are a kind of aluminum products. It has the best performance in mechanical properties. It is widely used in the transportation industry, packaging industry, construction industry, and the electronics industry. Construction industry dominates this market. An increasing infrastructural and construction activities, particularly in the Asia-Pacific region is likely to boost the global aluminum billets market.
Global Aluminum Billets Market: Key Takeaways
This report studies the Aluminum Billets market size (value and volume) by players, regions, product types and end industries, history data 2013-2017 and forecast data 2019-2024; This report also studies the global market competition landscape, market drivers and trends, opportunities and challenges, risks and entry barriers, sales channels, distributors and Porter's Five Forces Analysis.
Global Aluminum Billets Market: Forecast by Application
Aluminum billets have the best performance in terms of speeds, surface finish, and mechanical properties. It is widely used in the transportation industry, packaging industry, construction industry, and electronics industry. The construction industry is its largest downstream market, which shares 66% of the consumption in 2017.
Global Aluminum Billets Market: Forecast by Region
The production of aluminum billets is distributed evenly in China, North America, Europe, the Middle East, and South America. China is the largest producer of aluminum billets in the world since the past few years and it is likely to retain its position in the years to come. The aluminum billet industry is highly competitive due to low entry barriers as the industry is less capital intensive and there is no major technology involved. Given the competitive landscape of the industry, the bargaining power of players with clients is low thereby resulting in vulnerability to fluctuation in raw material prices.
Global Aluminum Billets Market: Key Players
Rusal, Rio Tinto, Alcoa, EGA, Yinhai Aluminum, Xinfa Group, Norsk Hydro, Alba，Chalco, SNTO, Noranda Aluminum, Glencore, Matalco, Jiangyin Tianyang Metal, Wanji, Kumz, Aluar and Henan Haihuang, are some of the key vendors included in this report.
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