The aluminum slug market size has grown strongly in recent years. It will grow from $3.95 billion in 2023 to $4.2 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed during the historical period can be attributed to several factors, including the overall growth in the packaging industry, the substitution of other materials with aluminum slugs, increased manufacturing of consumer goods, the globalization of supply chains, demand from the automotive industry, and the influence of sustainable packaging trends.
The aluminum slug market size is expected to see strong growth in the next few years. It will grow to $5.36 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to various factors, including the increasing demand for beverage cans, a growing emphasis on the circular economy, rising consumer demand for personal care products, the expansion of the pharmaceutical industry, and the evolving packaging requirements driven by the growth of e-commerce. Key trends expected in the forecast period encompass advancements in manufacturing processes, a rising popularity of aluminum slugs in automotive applications, an increased focus on sustainability and recycling practices, a surge in demand within the packaging industry, continuous technological innovations in alloy compositions, and a heightened emphasis on customization and product differentiation.
The escalating demand for personal care products stands as a catalyst propelling the growth of the aluminum slug market. Personal care products encompass consumer goods utilized for personal hygiene, grooming, and beautification. Aluminum slugs play a pivotal role in crafting various packaging items such as flexible tubes, aerosol cans, collapsible tubes, aluminum bottles, and covers extensively used in packaging these personal care items. For example, in August 2022, Zippia Inc. reported the US beauty and personal care market valued at around $84 billion, with projections expecting the cosmetic industry to reach approximately $463.5 billion by 2027. This surge in personal care product demand significantly fuels the growth of the aluminum slug market due to its integral role in their packaging.
The upsurge in disposable income levels is forecasted to drive the expansion of the aluminum slug market. As disposable income, denoting the funds available to individuals post-tax payment, rises, there's a concurrent increase in consumer spending, particularly on packaged goods and beverages, notably observed in emerging economies. Aluminum slugs serve as vital components in the production of aerosol cans, containers, and various packaging solutions, witnessing heightened demand in tandem with rising disposable incomes. For instance, data from Trading Economics showcased an increase in Japan's disposable income from 412.82 JPY thousand ($3,014.64) in March 2022 to 463.91 JPY thousand ($3,387.76) in February 2023, indicating a surge that propels demand within the aluminum slug market.
Product innovation emerges as a prominent trend driving growth within the aluminum slug market. Leading companies in this domain are focused on pioneering new products to bolster their market presence. For instance, in September 2022, Novelis Inc., a US-based producer of flat-rolled aluminum products, unveiled laminated aluminum surfaces tailored for beverage cans. This innovation optimizes production processes, reducing CO2 emissions for European beverage companies and can manufacturers. The aluminum sheet, featuring a black laminating film free from Bisphenol A (BPA) and per- and poly-fluoroalkyl substances (PFAS), caters to the burgeoning demand for black-colored beverage cans, particularly favored for innovative beverage items and energy drinks, signaling a wave of innovation driving the aluminum slug market.
Prominent companies within the aluminum slug industry are prioritizing advanced solutions, exemplified by the development of eco-friendly aluminum aerosol cans, to fortify their market position. Eco-friendly aluminum aerosol cans are consciously crafted containers designed with environmental considerations at every stage of their lifecycle, aimed at minimizing their ecological impact. Leveraging these eco-friendly solutions not only reduces the environmental footprint associated with traditional aerosol packaging but also encompasses lower energy consumption, decreased greenhouse gas emissions, and a reduced reliance on resource-intensive processes. For instance, in June 2022, Ball Corporation, a leading US-based provider of sustainable aluminum packaging, introduced its most eco-friendly aluminum aerosol can. This launch aligns with the company's ambitious targets to achieve science-based objectives by 2030 and attain net-zero emissions before 2050. The newly introduced can boasts a significantly lower carbon footprint, measuring half that of a standard can, exemplifying a commitment to eco-friendly innovation in the industry.
In August 2022, Colep Packaging, a division of Portugal's RAR Group and an established aerosol specialist, acquired a 40% stake in ALM, a Spain-based aluminum aerosol and slug provider. This strategic acquisition marks a pivotal milestone in Colep Packaging's growth strategy, aligning with their ambition to expand the company's packaging solutions portfolio. ALM's expertise in supplying aluminum aerosols and slugs is anticipated to synergize with Colep Packaging's objectives, enabling an enhanced range of packaging solutions and facilitating the company's strategic growth trajectory within the aluminum slug market.
Major companies operating in the aluminum slug market report are Ball Corporation, Fuchuan Metal Technologies Co. Ltd., Aluminum Rheinfelden Semis GmbH, Talum, Aluman S.A., Haomei Aluminum, Alucon Limited, Aluminium-Werke Wutöschingen AG & Co. KG, Envases Group, Impol Aluminum Corporation, Fried. v. Neuman GmbH, Signi Aluminum, Shanghai Metal Corporation, Novelis Inc., Western Metal Industries Private Limited, RONDAL d. o. o., Balex Metal Sp. z o.o., Alu-Stock S.A., Norsk Hydro ASA, Constellium SE, UACJ Corporation, Alcoa Corporation, Tri-Arrows Aluminum Inc., Aluminum Bahrain B.S.C., Gränges, Kaiser Aluminum Corporation, Hydro Extrusion North America LLC, Arconic Inc., Aleris Corporation, Hindalco Industries Limited.
Asia-Pacific was the largest region in the aluminum slug market in 2023. The regions covered in the aluminum slug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aluminum slug market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of aluminum slugs include the round type, square and rectangular type, perforated type, and other variations. Round aluminum slugs, for example, are circular aluminum blanks used in the manufacturing of aluminum containers or collapsible tubes. The materials used include PCR (post-consumer recycled aluminum), PIR (post-industrial recycled aluminum), green virgin aluminum, and other options. These slugs serve multiple applications such as in tubes, aerosols, technical parts, and more, catering to end-users in various sectors including automotive, food and beverages, personal care, pharmaceuticals, paint and coating, electrical, and others.
The aluminum slugs market research report is one of a series of new reports that provides aluminum slugs market statistics, including aluminum slugs industry global market size, regional shares, competitors with an aluminum slugs market share, detailed aluminum slugs market segments, market trends, and opportunities, and any further data you may need to thrive in the aluminum slugs industry. This aluminum slugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
The aluminum slug market size is expected to see strong growth in the next few years. It will grow to $5.36 billion in 2028 at a compound annual growth rate (CAGR) of 6.3%. The anticipated growth in the forecast period can be attributed to various factors, including the increasing demand for beverage cans, a growing emphasis on the circular economy, rising consumer demand for personal care products, the expansion of the pharmaceutical industry, and the evolving packaging requirements driven by the growth of e-commerce. Key trends expected in the forecast period encompass advancements in manufacturing processes, a rising popularity of aluminum slugs in automotive applications, an increased focus on sustainability and recycling practices, a surge in demand within the packaging industry, continuous technological innovations in alloy compositions, and a heightened emphasis on customization and product differentiation.
The escalating demand for personal care products stands as a catalyst propelling the growth of the aluminum slug market. Personal care products encompass consumer goods utilized for personal hygiene, grooming, and beautification. Aluminum slugs play a pivotal role in crafting various packaging items such as flexible tubes, aerosol cans, collapsible tubes, aluminum bottles, and covers extensively used in packaging these personal care items. For example, in August 2022, Zippia Inc. reported the US beauty and personal care market valued at around $84 billion, with projections expecting the cosmetic industry to reach approximately $463.5 billion by 2027. This surge in personal care product demand significantly fuels the growth of the aluminum slug market due to its integral role in their packaging.
The upsurge in disposable income levels is forecasted to drive the expansion of the aluminum slug market. As disposable income, denoting the funds available to individuals post-tax payment, rises, there's a concurrent increase in consumer spending, particularly on packaged goods and beverages, notably observed in emerging economies. Aluminum slugs serve as vital components in the production of aerosol cans, containers, and various packaging solutions, witnessing heightened demand in tandem with rising disposable incomes. For instance, data from Trading Economics showcased an increase in Japan's disposable income from 412.82 JPY thousand ($3,014.64) in March 2022 to 463.91 JPY thousand ($3,387.76) in February 2023, indicating a surge that propels demand within the aluminum slug market.
Product innovation emerges as a prominent trend driving growth within the aluminum slug market. Leading companies in this domain are focused on pioneering new products to bolster their market presence. For instance, in September 2022, Novelis Inc., a US-based producer of flat-rolled aluminum products, unveiled laminated aluminum surfaces tailored for beverage cans. This innovation optimizes production processes, reducing CO2 emissions for European beverage companies and can manufacturers. The aluminum sheet, featuring a black laminating film free from Bisphenol A (BPA) and per- and poly-fluoroalkyl substances (PFAS), caters to the burgeoning demand for black-colored beverage cans, particularly favored for innovative beverage items and energy drinks, signaling a wave of innovation driving the aluminum slug market.
Prominent companies within the aluminum slug industry are prioritizing advanced solutions, exemplified by the development of eco-friendly aluminum aerosol cans, to fortify their market position. Eco-friendly aluminum aerosol cans are consciously crafted containers designed with environmental considerations at every stage of their lifecycle, aimed at minimizing their ecological impact. Leveraging these eco-friendly solutions not only reduces the environmental footprint associated with traditional aerosol packaging but also encompasses lower energy consumption, decreased greenhouse gas emissions, and a reduced reliance on resource-intensive processes. For instance, in June 2022, Ball Corporation, a leading US-based provider of sustainable aluminum packaging, introduced its most eco-friendly aluminum aerosol can. This launch aligns with the company's ambitious targets to achieve science-based objectives by 2030 and attain net-zero emissions before 2050. The newly introduced can boasts a significantly lower carbon footprint, measuring half that of a standard can, exemplifying a commitment to eco-friendly innovation in the industry.
In August 2022, Colep Packaging, a division of Portugal's RAR Group and an established aerosol specialist, acquired a 40% stake in ALM, a Spain-based aluminum aerosol and slug provider. This strategic acquisition marks a pivotal milestone in Colep Packaging's growth strategy, aligning with their ambition to expand the company's packaging solutions portfolio. ALM's expertise in supplying aluminum aerosols and slugs is anticipated to synergize with Colep Packaging's objectives, enabling an enhanced range of packaging solutions and facilitating the company's strategic growth trajectory within the aluminum slug market.
Major companies operating in the aluminum slug market report are Ball Corporation, Fuchuan Metal Technologies Co. Ltd., Aluminum Rheinfelden Semis GmbH, Talum, Aluman S.A., Haomei Aluminum, Alucon Limited, Aluminium-Werke Wutöschingen AG & Co. KG, Envases Group, Impol Aluminum Corporation, Fried. v. Neuman GmbH, Signi Aluminum, Shanghai Metal Corporation, Novelis Inc., Western Metal Industries Private Limited, RONDAL d. o. o., Balex Metal Sp. z o.o., Alu-Stock S.A., Norsk Hydro ASA, Constellium SE, UACJ Corporation, Alcoa Corporation, Tri-Arrows Aluminum Inc., Aluminum Bahrain B.S.C., Gränges, Kaiser Aluminum Corporation, Hydro Extrusion North America LLC, Arconic Inc., Aleris Corporation, Hindalco Industries Limited.
Asia-Pacific was the largest region in the aluminum slug market in 2023. The regions covered in the aluminum slug market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aluminum slug market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The primary types of aluminum slugs include the round type, square and rectangular type, perforated type, and other variations. Round aluminum slugs, for example, are circular aluminum blanks used in the manufacturing of aluminum containers or collapsible tubes. The materials used include PCR (post-consumer recycled aluminum), PIR (post-industrial recycled aluminum), green virgin aluminum, and other options. These slugs serve multiple applications such as in tubes, aerosols, technical parts, and more, catering to end-users in various sectors including automotive, food and beverages, personal care, pharmaceuticals, paint and coating, electrical, and others.
The aluminum slugs market research report is one of a series of new reports that provides aluminum slugs market statistics, including aluminum slugs industry global market size, regional shares, competitors with an aluminum slugs market share, detailed aluminum slugs market segments, market trends, and opportunities, and any further data you may need to thrive in the aluminum slugs industry. This aluminum slugs market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
This product will be delivered within 3-5 business days.
Table of Contents
1. Executive Summary2. Aluminum Slug Market Characteristics3. Aluminum Slug Market Trends and Strategies31. Global Aluminum Slug Market Competitive Benchmarking32. Global Aluminum Slug Market Competitive Dashboard33. Key Mergers and Acquisitions in the Aluminum Slug Market
4. Aluminum Slug Market - Macro Economic Scenario
5. Global Aluminum Slug Market Size and Growth
6. Aluminum Slug Market Segmentation
7. Aluminum Slug Market Regional and Country Analysis
8. Asia-Pacific Aluminum Slug Market
9. China Aluminum Slug Market
10. India Aluminum Slug Market
11. Japan Aluminum Slug Market
12. Australia Aluminum Slug Market
13. Indonesia Aluminum Slug Market
14. South Korea Aluminum Slug Market
15. Western Europe Aluminum Slug Market
16. UK Aluminum Slug Market
17. Germany Aluminum Slug Market
18. France Aluminum Slug Market
19. Italy Aluminum Slug Market
20. Spain Aluminum Slug Market
21. Eastern Europe Aluminum Slug Market
22. Russia Aluminum Slug Market
23. North America Aluminum Slug Market
24. USA Aluminum Slug Market
25. Canada Aluminum Slug Market
26. South America Aluminum Slug Market
27. Brazil Aluminum Slug Market
28. Middle East Aluminum Slug Market
29. Africa Aluminum Slug Market
30. Aluminum Slug Market Competitive Landscape and Company Profiles
34. Aluminum Slug Market Future Outlook and Potential Analysis
35. Appendix
Executive Summary
Aluminum Slug Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on aluminum slug market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
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- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
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- Outperform competitors using forecast data and the drivers and trends shaping the market.
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- Benchmark performance against key competitors.
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- All data from the report will also be delivered in an excel dashboard format.
Description
Where is the largest and fastest growing market for aluminum slug? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This aluminum slug market global report answers all of these questions and many more.The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:1) By Type: Round Type; Square and Rectangular Type; Perforated Type; Other Types
2) By Material: PCR (Post-Consumer Recycled Aluminum); PIR (Post-Industrial Recycled Aluminum); Green Virgin Aluminum; Other Materials
3) By Application: Tubes; Aerosols; Technical Parts; Other Applications
4) By End-Users: Automotive; Food and Beverages; Personal Care; Pharmaceutical; Paint and Coating; Electrical; Other End-Users
Companies Mentioned: Ball Corporation; Fuchuan Metal Technologies Co. Ltd.; Aluminum Rheinfelden Semis GmbH; Talum; Aluman S.A.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Ball Corporation
- Fuchuan Metal Technologies Co. Ltd.
- Aluminium Rheinfelden Semis GmbH
- Talum
- Aluman S.A.
- Haomei Aluminum
- Alucon Limited
- Aluminium-Werke Wutöschingen AG & Co. KG
- Envases Group
- Impol Aluminum Corporation
- Fried. v. Neuman GmbH
- Signi Aluminum
- Shanghai Metal Corporation
- Novelis Inc.
- Western Metal Industries Private Limited
- RONDAL d. o. o.
- Balex Metal Sp. z o.o.
- Alu-Stock S.A.
- Norsk Hydro ASA
- Constellium SE
- UACJ Corporation
- Alcoa Corporation
- Tri-Arrows Aluminum Inc.
- Aluminum Bahrain B.S.C.
- Gränges
- Kaiser Aluminum Corporation
- Hydro Extrusion North America LLC
- Arconic Inc.
- Aleris Corporation
- Hindalco Industries Limited
Methodology
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