Global Aluminum Round Bar Market Size to Worth USD 19.3 Billion by 2033 | CAGR of 4.19%
Category: Chemicals & MaterialsGlobal Aluminum Round Bar Market Size to Worth USD 19.3 Billion by 2033
According to a research report published by Spherical Insights & Consulting, The Global Aluminum Round Bar Market Size is Expected to Grow from USD 12.8 Billion in 2023 to USD 19.3 Billion by 2033, at a CAGR of 4.19% during the forecast period 2023-2033.
Get more details on this report -
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Aluminum Round Bar Market Size, Share, and COVID-19 Impact Analysis, Type (Pure Aluminum Round Bar and Alloyed Aluminum Round Bar), By Application (Electrical, Machinery, Construction, Automotive, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/aluminum-round-bar-market
The aluminum round bar market refers to the industry and company that manufactures, distributes, and sells aluminum round bars which are required in industries like construction, manufacturing, aerospace, and automotive to improve fuel efficiency and reduce emissions. The growing urbanization and infrastructure development in this economy are raising the need for aluminum round bars in applications such as window frames, roofing systems, and structural frameworks. As the construction sector is growing, the demand for aluminum round bars is increasing due to their versatility and durability. The focus of all industries is towards sustainability and energy efficiency, hence preferring materials like aluminum. Moreover, aluminum round bars are in demand because of the rapid industrialization and urbanization in India, China, and Brazil. However, the alternative materials that could challenge the aluminum round bar market are steel, plastic, and composites.
The alloyed aluminum round bar segment held the greatest share in 2023 and is estimated to grow at a substantial CAGR during the projected timeframe.
Based on the type, the global aluminum round bar market is divided into pure aluminum round bar and alloyed aluminum round bar. Among these, the alloyed aluminum round bar segment held the greatest share in 2023 and is estimated to grow at a substantial CAGR during the projected timeframe. Alloyed aluminum is lightweight but with strength and durability, making alloyed aluminum round bars a popular choice among consumers.
The automotive segment accounted for the major share in 2023 and is projected to grow at a remarkable CAGR during the projected timeframe.
Based on the application, the global aluminum round bar market is divided into electrical, machinery, construction, automotive, and others. Among these, the automotive segment accounted for the major share in 2023 and is projected to grow at a remarkable CAGR during the projected timeframe. Aluminum bars are used in the automotive industry, as they reduce the total weight of the vehicle, which improves both fuel economy and performance.
Asia Pacific is estimated to hold the largest share of the aluminum round bar market over the forecast period.
Get more details on this report -
Asia Pacific is estimated to hold the largest share of the aluminum round bar market over the forecast period. The developing automotive and construction industries in this region are contributing to the market growth. Also, the government programs focusing on developing this region's infrastructure are boosting the market.
North America is predicted to have the highest CAGR growth in the aluminum round bar market over the forecast period. Established automotive and aerospace industries in this region are the reason behind growth in this market.
Major key players in the aluminum round bar market include China Hongqiao Group Limited, Emirates Global Aluminum (EGA), Vedanta Limited, Hindalco Industries Limited, South32 Limited, Alcoa Corporation, Rio Tinto Group, Norsk Hydro ASA, RUSAL, JW Aluminum, Novelis Inc., Alumina Limited, and Others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Development
- In May 2024, Ducab Metals rolled out a Green Aluminum Bar made with recycled Aluminum with the regulation on the CBAM of the European Union. To produce DMB's Green Aluminum Bar, considerably less energy is used compared with primary Aluminum.
Market Segment
- This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the Aluminum Round Bar market based on the below-mentioned segments:
Global Aluminum Round Bar Market, By Type
- Pure Aluminum Round Bar
- Alloyed Aluminum Round Bar
Global Aluminum Round Bar Market, By Application
- Electrical
- Machinery
- Construction
- Automotive
- Others
Global Aluminum Round Bar Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Need help to buy this report?