High Purity Aluminium Market Accelerates at 11.1% CAGR to Hit US$ 13.9 Billion by 2034: Fact.MR Report

Aerospace Industry Will Offer Lucrative Business Opportunities for High Purity Aluminium Manufacturers

Rockville , Nov. 21, 2023 (GLOBE NEWSWIRE) — The global High Purity Aluminium Market is forecasted to account for a value of US$ 4.84 billion in 2024 and is projected to expand at a phenomenal 11.1% CAGR over the next ten years. This study by Fact.MR, a market research and competitive intelligence provider, says that East Asia is projected to maintain its dominant stance in terms of global high purity aluminium (HPA) sales revenue through 2034.

Increasing digitization around the world is boosting the demand for electronic components and semiconductors, which is predicted to drive high purity aluminium sales over the next ten years. Expansion of the aviation industry around the world is also estimated to benefit demand for high purity aluminium in the manufacturing of aircraft and aircraft components due to its low cost and lightweight properties.

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Key Segments of High Purity Aluminium Industry Research Report

The aviation industry in India is expanding at a rapid pace and as per statistics provided by IATA (International Air Transport Association), India is projected to overtake China and the United States to become the leading aviation marketplace in the world by the end of the next ten years.

Collectively, the Asian region is projected to emerge as the most profitable space for high purity aluminium vendors as automotive manufacturing and semiconductor manufacturing pick up pace in countries such as India, China, Japan, and South Korea going forward.

Key Takeaways from Market Study

• Worldwide demand for high purity aluminium is set to rise at a CAGR of 11.1% from 2024 to 2034.
• The global high purity aluminium market is forecasted to reach a valuation of US$ 13.9 billion by 2034-end.
• Growing use of high purity aluminium in automotive and aerospace industries, high demand for electronic components, and increasing spending on defense around the world are factors that could drive market growth in the future.
• Difficulties associated with the storage and disposal of red mud (bauxite waste residue) and high operational costs of high purity aluminium manufacturing plants are predicted to hamper market development through 2034.
• Demand for high purity aluminium in East Asia is projected to rise at 12.8% CAGR through 2034 and account for a dominant revenue share across the study period.
• Around 80.2% of all high purity aluminium sold in 2024 is predicted to be in the form of ingots.

“Supplying high purity aluminium to the semiconductor industry will remain crucial for all companies to enjoy huge profits in the future,” says a Fact.MR analyst

Winning Strategy

High purity aluminium manufacturers should focus on investing in R&D to create new grades of HPA with high purity to satisfy the demand from various industry verticals. High purity aluminium producers should also focus on maximizing and expanding their production capability by expanding existing plants and setting up new facilities in the future.

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Competitive Landscape

In the competitive landscape, high purity aluminium manufacturers are strategically engaging in mergers, acquisitions, partnerships, and collaborations to enhance production capacity, addressing the growing global demand for HPA.

For instance,

• Alpha HPA Limited and Orica expanded their strategic partnership in November 2022, acquiring a 5% equity interest and exploring the feasibility of establishing a new HPA manufacturing plant in North America.
• Dubai Holding partnered with Nature Alu in May 2022 to establish a pioneering HPA manufacturing facility in the UAE, focusing on producing 4N and above grades of HPA.

Key Companies Profiled 

• Nature Alu
• Chalco
• Showa Denko KK
• Norsk Hydro
• Kyushu Mitsui Aluminium
• Nippon Light Metal Holding Co.
• Join World
• RuSAL
• Sumitomo Chemicals Co. Ltd

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global high purity aluminium market, presenting historical demand data (2018 to 2023) and forecast statistics for the period (2024 to 2034).

The study divulges essential insights on the market based on grade (4N, 5N, 6N), end use (semiconductors, automotive, aerospace, others), and form (disks, pellets, ingots, wires & coils, other forms), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and the Middle East & Africa).

Checkout More Related Studies Published by Fact.MR Research:

Aluminium Alloys Market: The global aluminium alloys market is estimated at US$ 131 Bn in 2022, and is projected to reach US$ 287 Bn by 2032, expanding at a CAGR of 8.1% over the 2022 to 2032 assessment period.

Aluminium Potassium Sulphate Market: The global aluminium potassium sulphate market is set to estimate a valuation of US$ 49.4 million in 2023 and it is expected to grow at a CAGR of 5.1% to reach US$ 81.3 million by the end of 2033.

Aluminium Clad Printed Circuit Board Market: Increasing demand for wireless devices and constant innovation to reduce the size of consumer electronics are also among the key factors driving the aluminium clad printed circuit board market.

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Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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