Processed Alumina And Aluminum Market Drivers Include Increased Construction Activity In Emerging Markets
Processed Alumina And Aluminum Global Market Report 2021 - COVID-19 Impact And Recovery
The Business Research Company’s Processed Alumina And Aluminum Global Market Report 2021 - COVID-19 Impact And Recovery
LONDON, GREATER LONDON, UK, September 22, 2021 /EINPresswire.com/ -- 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.
The global processed alumina and aluminum market size 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 $1093.06 billion in 2025 at a CAGR of 8%.
Read More On The Global Processed Alumina And Aluminum Market Report:
https://www.thebusinessresearchcompany.com/report/processed-alumina-and-aluminum-global-market-report
Major players covered in the global processed alumina and aluminum industry are Rio Tinto, Weiqiao/ Hongqiao Group, United Co RUSAL PLC, Alcoa, Norsk Hydro.
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 market. South America was the smallest region in the global processed alumina and aluminum market.
TBRC’s global processed alumina and aluminum market report is segmented by type into aluminum products from purchased aluminum, secondary smelted and alloyed aluminum, refined alumina and primary aluminum production, by application into automotive, manufacturing, others.
Processed Alumina And Aluminum Global Market Report 2021 - By Type (Aluminum Products From Purchased Aluminum, Secondary Smelted And Alloyed Aluminum, Refined Alumina And Primary Aluminum Production), By Application (Automotive, Manufacturing, Others), COVID-19 Impact And Recovery is one of a series of new reports from The Business Research Company that provides processed alumina and aluminum market overview, forecast processed alumina and aluminum market size and growth for the whole market, processed alumina and aluminum market segments, and geographies, processed alumina and aluminum market trends, processed alumina and aluminum market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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