The global aluminum billets market has grown strongly in recent years. It will grow from $95.93 billion in 2023 to $104.47 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to demand from automotive industry, demand from aerospace industry, rising construction and infrastructure development, government initiatives.
The global aluminum billets market is expected to see strong growth in the next few years. It will grow to $141.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing urbanization and infrastructure development, renewable energy infrastructure, rising demand for aluminum in the packaging industry, rising disposable incomes, aluminum based products launch. Major trends in the forecast period include technological advancements in aluminum production, transportation innovations, investments in aluminum productions,.
The swift integration of billets within the automotive sector is anticipated to be a driving force behind the expansion of the aluminum billet market in the foreseeable future. The automotive industry encompasses a range of entities involved in the creation, development, production, marketing, and sale of motor vehicles. Aluminum billets are extensively utilized in the automotive sector due to their exceptional strength-to-weight ratio, resilience, and adaptability. These billets play a crucial role in the manufacturing of various automotive components, including engine parts, suspension components, wheels, transmission components, and more. As an example, a study conducted by European Aluminum in May 2023 revealed that the average aluminum usage in European cars had risen to 205 kilograms in 2022, marking an 18% increase from the 174 kilograms observed in 2020. Furthermore, projections indicate that the average aluminum content is set to climb from 205 kilograms in 2022 to 237 kilograms by 2026 (a 15.6% increase) and reach 256 kilograms per vehicle by 2030 (a 24.9% increase). Hence, the rapid adoption of billets within the automotive industry is poised to steer the growth of the aluminum billet market.
The growing utilization of aluminum billets in construction projects is poised to drive the expansion of the aluminum billets market in the future. Construction encompasses the assembly of various elements to create structures according to precise designs and plans. Aluminum billets have proven to be highly adaptable materials in construction, facilitating the creation of lightweight, durable, and corrosion-resistant building components and systems. As an example, in July 2023, the US Census Bureau reported a significant increase in the value of construction activities, which surged from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, marking a substantial growth rate of 10.2%. Consequently, the increased use of aluminum billets in construction activities is a pivotal driver of the aluminum billets market's growth.
The scarcity of proficient labor presents a challenge that could impede the market's growth throughout the forecast period. The aluminum industry demands a workforce that is not only sizable but also well-trained, and honing these skills often requires a substantial time investment. Shortages in skilled labor can result in escalated labor costs, subsequently increasing the overall expenses associated with aluminum billet production. For instance, in July 2022, The American Welding Society, a non-profit organization headquartered in the United States, projected a shortage of approximately 400,000 workers by the year 2024, encompassing various sectors, including the aluminum manufacturing and processing industry. Consequently, the insufficiency of skilled labor is acting as a deterrent to the expansion of the aluminum billets market.
Prominent companies operating in the aluminum billet market are embracing innovative technologies to enhance their product offerings, including the development of high-speed billets, as part of their strategy to maintain a competitive edge in the market. High-speed billets are a specialized type of billet used within the extrusion industry, precisely engineered to enhance the extrusion process's speed and efficiency. An illustrative example of this approach can be seen in Vedanta Aluminum Limited, an Indian-based aluminum manufacturer, which introduced high-speed billets designed for the global extrusion sector in December 2021. These billets are meticulously crafted using cutting-edge engineering technologies, such as the Wagstaff Hot-Top Air Slip Casting System from the USA and the Hertwich Continuous Homogenizing Furnace from Austria. With precise process control and optimized composition, these billets deliver exceptional extrusion speed, all while maintaining the structural integrity of the final extruded profile. They have been shown to significantly boost extrusion speed by a minimum of 25% or more, depending on the extrusion environment, thereby offering an impressive solution to meet the demands of the industry.
In January 2022, Matalco Inc., a Canadian aluminum billet and slab manufacturer, completed the acquisition of Ohio Valley Aluminum Co. LLC, a US-based company. The specific financial details of the transaction were not disclosed. This strategic move had several significant implications for Matalco Inc. Through this strategic acquisition of Ohio Valley Aluminum Co. LLC, Matalco Inc. positioned itself for growth, diversification, and increased competitiveness in the aluminum billet manufacturing industry.
Major players in the aluminum billets market are Glencore PLC, BHP Group Limited, Rio Tinto PLC, Hindalco Industries Ltd., Norsk Hydro ASA, Vedanta Resources, Novelis Inc., China Hongqiao Group Limited, Alcoa Corporation, United Company RUSAL, South32 Ltd., Arconic Inc., Constellium SE, Emirates Global Aluminium (EGA), Aluminum Bahrain (Alba ), Shandong Nanshan Aluminum Co. Ltd., Kaiser Aluminum Corporation, Century Aluminum Company, National Aluminium Company Limited15, Kamensk-Uralsky Metallurgical Works, Aluar Aluminio Argentino S.A.I.C, Guangxi Liuzhou Yinhai Aluminum, Aluminum Corporation of China (CHINALCO), Gulf Aluminium Rolling Mill Company (GARMCO), Vista Metals Corp., Matalco Inc., FutureX Holding Limited, Jiangyin Comat Metal Products, Shawinigan Aluminium Inc.
Asia-Pacific was the largest region in the aluminum billets market in 2023. The regions covered in aluminum billets report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the aluminum billets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The key categories of aluminum billets include Series 1000, Series 3000, Series 6000, and others. Series 1000 aluminum billets consist of nearly pure aluminum, with a minimum of 99% aluminum content. They are frequently employed in applications that prioritize high electrical conductivity and corrosion resistance over mechanical strength. The manufacturing techniques encompass continuous casting, direct chill casting, and semi-continuous casting, which are used to produce billets with varying diameters, levels of purity, and applications. These billets find utility in sectors such as automotive, construction, transportation, electrical and energy, and more.
This report provides aluminum billets market statistics, including aluminum billets industry global market size, regional shares, competitors with an aluminum billets market share, detailed aluminum billets market segments, market trends and opportunities and any further data you may need to thrive in the aluminum billets industry. This aluminum billets 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 aluminum billets market consists of sales of 7050 aluminum billets, 7075 aluminum billet, 2024 and 2014 aluminum billets and 5083 and 5086 aluminum billets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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 global aluminum billets market is expected to see strong growth in the next few years. It will grow to $141.61 billion in 2028 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing urbanization and infrastructure development, renewable energy infrastructure, rising demand for aluminum in the packaging industry, rising disposable incomes, aluminum based products launch. Major trends in the forecast period include technological advancements in aluminum production, transportation innovations, investments in aluminum productions,.
The swift integration of billets within the automotive sector is anticipated to be a driving force behind the expansion of the aluminum billet market in the foreseeable future. The automotive industry encompasses a range of entities involved in the creation, development, production, marketing, and sale of motor vehicles. Aluminum billets are extensively utilized in the automotive sector due to their exceptional strength-to-weight ratio, resilience, and adaptability. These billets play a crucial role in the manufacturing of various automotive components, including engine parts, suspension components, wheels, transmission components, and more. As an example, a study conducted by European Aluminum in May 2023 revealed that the average aluminum usage in European cars had risen to 205 kilograms in 2022, marking an 18% increase from the 174 kilograms observed in 2020. Furthermore, projections indicate that the average aluminum content is set to climb from 205 kilograms in 2022 to 237 kilograms by 2026 (a 15.6% increase) and reach 256 kilograms per vehicle by 2030 (a 24.9% increase). Hence, the rapid adoption of billets within the automotive industry is poised to steer the growth of the aluminum billet market.
The growing utilization of aluminum billets in construction projects is poised to drive the expansion of the aluminum billets market in the future. Construction encompasses the assembly of various elements to create structures according to precise designs and plans. Aluminum billets have proven to be highly adaptable materials in construction, facilitating the creation of lightweight, durable, and corrosion-resistant building components and systems. As an example, in July 2023, the US Census Bureau reported a significant increase in the value of construction activities, which surged from $1,626.4 billion in 2021 to $1,792.9 billion in 2022, marking a substantial growth rate of 10.2%. Consequently, the increased use of aluminum billets in construction activities is a pivotal driver of the aluminum billets market's growth.
The scarcity of proficient labor presents a challenge that could impede the market's growth throughout the forecast period. The aluminum industry demands a workforce that is not only sizable but also well-trained, and honing these skills often requires a substantial time investment. Shortages in skilled labor can result in escalated labor costs, subsequently increasing the overall expenses associated with aluminum billet production. For instance, in July 2022, The American Welding Society, a non-profit organization headquartered in the United States, projected a shortage of approximately 400,000 workers by the year 2024, encompassing various sectors, including the aluminum manufacturing and processing industry. Consequently, the insufficiency of skilled labor is acting as a deterrent to the expansion of the aluminum billets market.
Prominent companies operating in the aluminum billet market are embracing innovative technologies to enhance their product offerings, including the development of high-speed billets, as part of their strategy to maintain a competitive edge in the market. High-speed billets are a specialized type of billet used within the extrusion industry, precisely engineered to enhance the extrusion process's speed and efficiency. An illustrative example of this approach can be seen in Vedanta Aluminum Limited, an Indian-based aluminum manufacturer, which introduced high-speed billets designed for the global extrusion sector in December 2021. These billets are meticulously crafted using cutting-edge engineering technologies, such as the Wagstaff Hot-Top Air Slip Casting System from the USA and the Hertwich Continuous Homogenizing Furnace from Austria. With precise process control and optimized composition, these billets deliver exceptional extrusion speed, all while maintaining the structural integrity of the final extruded profile. They have been shown to significantly boost extrusion speed by a minimum of 25% or more, depending on the extrusion environment, thereby offering an impressive solution to meet the demands of the industry.
In January 2022, Matalco Inc., a Canadian aluminum billet and slab manufacturer, completed the acquisition of Ohio Valley Aluminum Co. LLC, a US-based company. The specific financial details of the transaction were not disclosed. This strategic move had several significant implications for Matalco Inc. Through this strategic acquisition of Ohio Valley Aluminum Co. LLC, Matalco Inc. positioned itself for growth, diversification, and increased competitiveness in the aluminum billet manufacturing industry.
Major players in the aluminum billets market are Glencore PLC, BHP Group Limited, Rio Tinto PLC, Hindalco Industries Ltd., Norsk Hydro ASA, Vedanta Resources, Novelis Inc., China Hongqiao Group Limited, Alcoa Corporation, United Company RUSAL, South32 Ltd., Arconic Inc., Constellium SE, Emirates Global Aluminium (EGA), Aluminum Bahrain (Alba ), Shandong Nanshan Aluminum Co. Ltd., Kaiser Aluminum Corporation, Century Aluminum Company, National Aluminium Company Limited15, Kamensk-Uralsky Metallurgical Works, Aluar Aluminio Argentino S.A.I.C, Guangxi Liuzhou Yinhai Aluminum, Aluminum Corporation of China (CHINALCO), Gulf Aluminium Rolling Mill Company (GARMCO), Vista Metals Corp., Matalco Inc., FutureX Holding Limited, Jiangyin Comat Metal Products, Shawinigan Aluminium Inc.
Asia-Pacific was the largest region in the aluminum billets market in 2023. The regions covered in aluminum billets report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the aluminum billets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The key categories of aluminum billets include Series 1000, Series 3000, Series 6000, and others. Series 1000 aluminum billets consist of nearly pure aluminum, with a minimum of 99% aluminum content. They are frequently employed in applications that prioritize high electrical conductivity and corrosion resistance over mechanical strength. The manufacturing techniques encompass continuous casting, direct chill casting, and semi-continuous casting, which are used to produce billets with varying diameters, levels of purity, and applications. These billets find utility in sectors such as automotive, construction, transportation, electrical and energy, and more.
This report provides aluminum billets market statistics, including aluminum billets industry global market size, regional shares, competitors with an aluminum billets market share, detailed aluminum billets market segments, market trends and opportunities and any further data you may need to thrive in the aluminum billets industry. This aluminum billets 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 aluminum billets market consists of sales of 7050 aluminum billets, 7075 aluminum billet, 2024 and 2014 aluminum billets and 5083 and 5086 aluminum billets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
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 Billets Market Characteristics3. Aluminum Billets Market Trends and Strategies32. Global Aluminum Billets Market Competitive Benchmarking33. Global Aluminum Billets Market Competitive Dashboard34. Key Mergers and Acquisitions in the Aluminum Billets Market
4. Aluminum Billets Market - Macro Economic Scenario
5. Global Aluminum Billets Market Size and Growth
6. Aluminum Billets Market Segmentation
7. Aluminum Billets Market Regional and Country Analysis
8. Asia-Pacific Aluminum Billets Market
9. China Aluminum Billets Market
10. India Aluminum Billets Market
11. Japan Aluminum Billets Market
12. Australia Aluminum Billets Market
13. Indonesia Aluminum Billets Market
14. South Korea Aluminum Billets Market
15. Western Europe Aluminum Billets Market
16. UK Aluminum Billets Market
17. Germany Aluminum Billets Market
18. France Aluminum Billets Market
19. Italy Aluminum Billets Market
20. Spain Aluminum Billets Market
21. Eastern Europe Aluminum Billets Market
22. Russia Aluminum Billets Market
23. North America Aluminum Billets Market
24. USA Aluminum Billets Market
25. Canada Aluminum Billets Market
26. South America Aluminum Billets Market
27. Brazil Aluminum Billets Market
28. Middle East Aluminum Billets Market
29. Africa Aluminum Billets Market
30. Aluminum Billets Market Competitive Landscape and Company Profiles
31. Aluminum Billets Market Other Major and Innovative Companies
35. Aluminum Billets Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
This report provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on aluminum billets 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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Description
Where is the largest and fastest growing market for aluminum billets? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all 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.
Report Scope
Markets Covered:
1) By Type: Aluminum Billets Series 1000; Aluminum Billets Series 3000; Aluminum Billets Series 6000; Other Types2) By Manufacturing Process: Continuous Casting; Direct Chill Casting; Semi-Continuous Casting
3) By Size: Small-Diameter Billets; Large-Diameter Billets
4) By Purity: High Purity; Standard Purity
5) By Application: Automotive; Building and Construction; Transportation; Electrical and Energy; Other Applications
Key Companies Mentioned: Glencore plc; BHP Group Limited; Rio Tinto Plc; Hindalco Industries Ltd.; Norsk Hydro ASA
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 Segmentation: 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
Methodology
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