The global aluminum in Asia Pacific market is characterized by several factors driving its growth. Rising urbanization, ongoing research and development activities, and the rising demand for environmentally friendly and energy efficient building materials are driving the market. However, factors hampering growth of the market include fluctuation in raw material prices and competition from substitutes. Nevertheless, increased use of recycled products provides ample growth potential. Here are the key factors driving the growth of the market in Asia Pacific:
First, a report analyzing the market size and forecast for aluminum is essential to determine future market potential. In addition to assessing market size and forecast, it also identifies key industry participants and their products. The report covers company financial reports, research papers, news blogs, and company product catalogs. To assess the competitive landscape, the report incorporates detailed analysis of the various segments and the industry structure. The report also provides insights on the various industry drivers and challenges.
Second, a report on the aluminum market in Asia Pacific includes detailed country-level data.
China is the leading consumer of aluminum in the region, surpassing India’s production by ten times. Meanwhile, India and Malaysia were the third and fourth largest producers of aluminum in Asia Pacific. In addition, the two countries are also significant consumers of semiconductors, accounting for over 50% of the global market. Further, the growing population of the region is driving the consumption of aluminum.
Third, an annual report on the market size of aluminum in Asia-Pacific shows that Asia Pacific was the biggest market for aluminum in 2021. Overall aluminum exports in the region increased by X% annually during the period of analysis. The region’s top aluminum exporter in 2021 was India, followed by Malaysia, Australia, New Zealand, and South Korea. Additionally, South Korea, Vietnam, and Taiwan (Chinese) also contributed to the volume of aluminum exports in the region.
In terms of volume, the global aluminum market is split into two major segments – primary and secondary. During the forecast period, the primary segment will dominate the market. Further, market shares are divided into product categories – building sheet, lithosphere, and common alloy. Then, the second-largest market is anticipated to be in Europe over the forecast period, driven by the growth in the automotive industry and the presence of oil & gas reserves.
This report analyzes the global aluminum foil market through primary and secondary drivers.
The study also considers the market share of different companies and analyzes the impact of regional players and emerging revenue pockets. Additionally, the study examines regional growth, innovation, product approvals, geographic expansions, and technological innovations. In addition, the report also highlights recent developments and competitive factors in the aluminum foil market. This report will help businesses make the right decisions for their growth strategy in this region.
One company in China that manufactures aluminum products is Jiangsu Asia-Pacific Ansindar Aluminum Co., Ltd., founded in 2002. The company currently operates five aluminum casting production lines. It uses the Wagstaff Air-Slip Casting System and is capable of producing aluminum alloy billets in grades ranging from 1000 series to 9000 series. Its yearly production capacity is over 55,000 metric tons.