World Aluminum Market Revenue to Hit USD 190 Billion by 2030

SEATTLE (Scrap Monster): The latest market report by Verified Market Research highlights significant market changes, competitions and obstacles. Also, it presents new possibilities and trends in the global aluminum market.

According to the report, the global aluminum market size was valued at USD 150 billion in 2021. The market is projected to touch USD 188.98 billion by 2030, recording a CAGR growth of 2.60% from 2023 to 2030.

The report identifies rising global disposable income as the single largest driving factor for the global aluminum market, which has contributed to the significant boost in demand for aluminum in consumer products. In addition to consumer products, there has been an increased demand for aluminum from various industries such as automotive, construction and building.

The rising construction industry will boost the demand for industrial aluminum during the forecast period. The multifaceted applications of aluminum in packaging industry is expected to drive the growth of aluminum market.

The report highlights Novelis Inc, Alcoa Corporation, Emirates Global Aluminum PJSC, Aluminum Corporation of China Limited (CHALCO), China Hongqiao Group Ltd., United Company RUSAL Plc., China Power Investment Corp. (CPI), East Hope Group Company Limited, Rio Tinto Alcan Inc., and Xinfa Group Co., Ltd. as the key market players.

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