Aluminum Billets Market Forecast, Trend Analysis & Competition Tracking - Global Industry Insights 2015 to 2031
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April 2023
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This report was compiled by Correspondence Linkedin | Detailed Market research Methodology Our methodology involves a mix of primary research, including interviews with leading mental health experts, and secondary research from reputable medical journals and databases. View Detailed Methodology Page
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Demand for Aluminum Billets from 2015 to 2020 Vs. Future Market Projections for 2021-2031
From 2015 to 2020, sales of aluminum billets have increased at a stable rate, expanding at over 3% CAGR.
Aluminum billets are produced from continuous casting or extrusion or indirectly through hot-rolling an ingot or bloom. These billets can be created out of primary aluminum and secondary or aluminum remelt and can be further processed to make wires and bar stocks, and other products. A billet is one of the most extensively used forms of aluminum across the globe.
Aluminum billets are widely used in the construction industry, manufacturing automotive parts, aerospace parts, and other applications such as packaging, electrical and electronics, consumer goods, etc. It is the most widely used metal in construction activities, from commercial buildings and domestic dwellings to infrastructure projects. The main application of aluminum billets in construction sectors involves manufacturing windows, roofing, cladding, curtain walling, structural glazing, architectural hardware, shopfitting, partitions, and prefabricated buildings. It is also used extensively in plants, ladders, and scaffolding.
Aluminum billets manufacture different parts such as clutch levers, engine mounts, and roof consoles for the automotive industry due to their corrosion-resistant properties and durability, and its flexible inherent strength during vehicle crashes. These are also used to manufacture primary propellants for solid rocket booster motors in space shuttles, owing to their high volumetric energy density.
Global Aluminum Billets Market Revenue Outlook:
The global aluminum billets market is valued at US$ 15.5 Bn in 2020 and projected to register а САGR of close to 4% by 2031.
Increasing population, robust urbanization, rapid industrial development, and higher disposable income of urban areas result in increased usage of aluminum in the building and construction industry that has boosted the revenue growth of the aluminum billets market. Emerging markets, such as those in the Asia Pacific region, have contributed to an increase in the application of aluminum billets in building and construction activities. Moreover, governments in the developing countries of Asia-Pacific such as China, India, etc. towards infrastructure development are a vital factor driving the growth of the aluminum billets market.
The rapid adoption of billets in the automotive industry and the overall transportation sector, owing to their weight-to-strength ratio, corrosion resistance, safety, and performance, are other factors improving the growth of the overall market. Several manufacturers are now focusing on using aluminum in construction of light trucks and cars by more than 40%. Aluminum engine mounts, running boards, tailgate frames, and roof consoles are corrosion-resistant and tend to be more robust in the event of a vehicular crash. The usage of aluminum in the automobile industry significantly reduces CO2 emissions. High adoption of aluminum billets for the production of rail and aircraft components is expected to continue over the years, thus leading to stable growth for the global aluminum billets market.
Import-Export Analysis of aluminum billets, under HS code 76012020, 2016-2020
The import of aluminum billets (H.S. Code – 76012020), decreased by 14.9% in 2020 to reach a value of US$ XX Bn, while the export decreased by 12.4%. Major importing countries in this category include the US, accounting for 14.2% of the total global imports. The US is followed by Germany, China, Japan, and Italy. Major exporting countries of aluminum billets include China, UK, Norway, Canada, and Russia.
Import (US$ ‘000) of Aluminum Billets (H.S. Code – 76012020) by Country, 2016-2020
Importing Country 2016 2017 2018 2019 2020 The US XXX.X XXX.X XXX.X XXX.X XXX.X Germany XXX.X XXX.X XXX.X XXX.X 2100877 China XXX.X XXX.X XXX.X XXX.X XXX.X Japan XXX.X XXX.X XXX.X XXX.X XXX.X Italy XXX.X XXX.X XXX.X XXX.X 724166 XXX XXX.X XXX.X XXX.X XXX.X XXX.X Global XXX.X XXX.X XXX.X XXX.X XXX.X To learn more about this report, request for sample report
Export (US$ ‘000) of Aluminum Billets (H.S. Code – 76012020) by Country, 2016-2020
Exporting Country 2016 2017 2018 2019 2020 China XXX.X XXX.X XXX.X XXX.X XXX.X UK XXX.X XXX.X XXX.X XXX.X 314206 Norway XXX.X XXX.X XXX.X XXX.X XXX.X Canada XXX.X XXX.X XXX.X XXX.X XXX.X Russia XXX.X XXX.X XXX.X XXX.X XXX.X XXX XXX.X XXX.X XXX.X XXX.X XXX.X Global XXX.X XXX.X XXX.X XXX.X XXX.X To learn more about this report, request for sample report
The imports of aluminum billets declined by 27.7% during the Q2 of 2020 compared to the previous quarter due to the trade restrictions imposed to contain the coronavirus. Nonetheless, the imports stabilized in the Q3-2020, increasing to US$ 5.4 Bn, gaining by 18% from the previous quarter. On the other hand, the exports declined by 16.9% in Q1-2020 of the prior quarter and, post the lockdown relaxations, noted a subsequent growth of 32.0% in Q3-2020.
Regional Analysis:
Asia-Pacific is anticipated to hold a significant share of the global aluminum billets market. The region is also expected to register the highest growth rates over the forecast period. Growing construction activities in developed and developing economies in the region such as Japan, South Korea, China, India, etc., are expected to increase demand for these billets. Robust growth of the automotive industry in China, Japan, and India are also likely to provide lucrative opportunities for the development of the market.
COVID-19 Impact Analysis:
The initial lockdown during Q1 and Q2 2020 caused severe disruptions in the supply chain of aluminum billets. Lack of supply of raw materials from major suppliers in China and halts in the movement of finished products stagnated the market growth. The closure of outlets and interrupted construction activities further exacerbated the situation. Relaxation of regulations post the initial lockdown, and resumption of construction activities helped the market to normalcy.
Nonetheless, various industry players in the global aluminum billets market are now increasing their focus on establishing successful collaborations, acquisitions, and joint venture activities to enhance their respective customer bases. These players are also growing their supply capabilities to meet customer requirements on a local and global scale. This factor, paired with promising industrialization prospects in developing economies of the Asia-Pacific region, such as China, India, Taiwan, Indonesia, etc., are expected to create massive business opportunities for key players over the forecast period.
Competitive Landscape:
The aluminum billets market landscape appears highly consolidated, with a significant chunk of it being dominated by players in the Asian and European countries.
- Rio Tinto Plc
- Xinfa Group Co., Ltd.
- Aluminum Corp. of China Ltd. (CHALCO)
- Norsk Hydro ASA
- Hindalco Industries Ltd.
- Alcoa Corp.
- United Co. RUSAL Plc.
- Arconic Corp.
- Emirates Global Aluminum
- Aluminum Bahrain BSC (ALBA)
- Vista Metals Corp.
- Matalco Inc.
- Guangxi Liuzhou Yinhai Aluminum Co., Ltd.
- Other Key Players
Report Scope
- Forecast Period: 2022-2031
- Actual Year: 2021
- Historical Data Available for: 2015-2020
Key Regions Covered
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Segments Covered
Aluminum Billets Market, By Series
- 1000 Series
- 3000 Series
- 6000 Series
- Other Series
Aluminum Billets Market, By Industry Vertical
- Transportation
- Packaging
- Construction
- Electricals
- Other Industry Verticals
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn To learn more about this report, request for sample report
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- Rio Tinto Plc
- Xinfa Group Co., Ltd.
- Aluminum Corp. of China Ltd. (CHALCO)
- Norsk Hydro ASA
- Hindalco Industries Ltd.
- Alcoa Corp.
- United Co. RUSAL Plc.
- Arconic Corp.
- Emirates Global Aluminum
- Aluminum Bahrain BSC (ALBA)
- Vista Metals Corp.
- Matalco Inc.
- Guangxi Liuzhou Yinhai Aluminum Co., Ltd.
- Other Key Players