Los Angeles, CA -- (SBWIRE) -- 12/26/2019 -- The global aluminum billets market is projected to grow at a moderate CAGR during the forecast period 2019-2025. Aluminum billets are widely consumed in different industries such as electronics, general engineering, and heating, ventilation, air conditioning, and refrigeration (HVACR). Aluminum forging and extrusion companies using remelt technology are expected to create demand for high-quality, homogenized aluminum billets series 6000.
Manufacturers of aluminum billets are anticipated to adopt effective strategies to increase their production. In June 2019, Rusal, a Russian aluminum company, announced the implementation of a BigData aluminum production management project at many of its smelters in Siberia. The project includes a new potroom control system that is expected to help improve the company's aluminum production efficiency twofold.
Players Anticipated to Focus on Increasing Production and Enhancing Production Efficiency
Some of the leading manufacturers of aluminum billets are Rusal, Henan Haihuang, Rio Tinto, Aluar, Alcoa, KUMZ, EGA, Wanji, Yinhai Aluminum, Jiangyin Tianyang Metal, Xinfa Group, Matalco, Norsk Hydro, Glencore, Alba, Noranda Aluminum, CHALCO, and SNTO. In October 2019, Alcoa, a US aluminum producer, announced its third quarter 2019 results. According to Alcoa CEO Roy Harvey, the company achieved continued stability and strong operational performance across its aluminum value chain in the third quarter. Manufacturers of aluminum billets are expected to focus on sustainability and production of responsibly-sourced materials in future.
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Market Segments
By Product Type
? Aluminum Billets Series 1000
? Aluminum Billets Series 3000
? Aluminum Billets Series 6000
? Others
By Application
? Transportation Industry
? Packaging Industry
? Construction Industry
? Electronics Industry
? Others
Based on product type, the global aluminum billets market is segmented into aluminum billets series 6000, aluminum billets series 3000, aluminum billets series 1000, and others. Manufacturers also offer specialty aluminum billets that can be used in cylinders, heat exchangers, and other niche applications. The report also sheds light on the market growth of key applications of aluminum billets such as electronics, construction, packaging, transportation, and others. Among these, construction is predicted to become a highly important downstream market for aluminum billets in the coming years.
By Region
According to market analysts, China is a larger producer of aluminum billets in the world. It is expected to maintain its lead in the global aluminum billets market in terms of production for the next few years. The report offers deep insights into key regional aluminum billets markets such as North America, South America, the MEA, and Europe. All of the regions included the report are thoroughly analyzed on the basis of market share, recent developments, future growth potential, and other crucial factors. Readers can use the regional analysis provided in the report to gain sound understanding of the demand growth in different parts of the world. Furthermore, they will be able to compare the market growth of the regions on the basis of key parameters.
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