Overview and Scope
An aluminum billet is a solid bar or block of aluminum typically produced through hot rolling blooms or ingots for extrusion, continuous casting, or indirect rolling and drawing. These billets are used as the starting material for various downstream manufacturing processes, such as extrusion, forging, rolling and machining, to create a wide range of aluminum products.
Sizing and Forecast
The aluminum billets market size 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 aluminum billets market size 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,
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Segmentation & Regional Insights
The aluminum billets market covered in this report is segmented –
1) By Type: Aluminum Billets Series 1000; Aluminum Billets Series 3000; Aluminum Billets Series 6000; Other Types
2) 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
Asia-Pacific was the largest region in the aluminum billets market in 2023. The regions covered in aluminum billets market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rapid adoption of billets in the automotive industry is expected to propel the growth of the aluminum billet market going forward. The automotive industry refers to the collection of companies, organizations and activities involved in designing, developing, manufacturing, marketing and selling motor vehicles. Aluminum billets are widely used in the automotive industry due to their superior strength-to-weight ratio, durability and versatility. They are used to manufacture various components, such as engine components, suspension components, wheels, transmission components and other components. For instance, in May 2023, according to a study by European Aluminum, a Belgium-based industry association, the average amount of aluminum used in European cars had increased to 205 kg in 2022, an increase of 18% from 174 kilograms in 2020. Further, the average aluminum content is projected to increase from 205 kilograms in 2022 to 237 kilograms by 2026 (+15.6%) and 256 kilograms per vehicle by 2030 (+24.9%). Therefore, the rapid adoption of billets in the automotive industry will drive the growth of the aluminum billet market.
Key Industry Players
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.
The aluminum billets market report table of contents includes:
1. Executive Summary
2. Aluminum Billets Market Characteristics
3. Aluminum Billets Market Trends And Strategies
4. Aluminum Billets Market – Macro Economic Scenario
5. Global Aluminum Billets Market Size and Growth
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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
Top Major Players:
- Glencore PLC
- BHP Group Limited
- Rio Tinto PLC
- Hindalco Industries Ltd
- Norsk Hydro ASA
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