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Aluminum Market 2020 Global Industry Trends
and Growth Forecast to 2026
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Global Market Scenario of Aluminum Industry

• In the latest research report by Global Market
  Insights, Inc., aluminum market size is likely to
  surpass 250 bn 2026.
• With aluminum setting the trend as the most
  naturally and prevalent occurring metal, it is
  being highly sought-after to boost sustainability
  and mobility.
• Given that aluminum provides a cost-effective and
  environmentally friendly way to propel fuel
  economy, boost performance, and reduce emissions,
  yet enhancing durability and safety, it is set to
  underscore the aluminum market share.
• As the world grapples to achieve a fuel-efficient
  future, aluminum is expected to play a huge part
  for a value-added, lightweight, durable and
  recyclable products. For instance, coated
  aluminum roofs tend to reflect around 95 of
  sunlight, thereby increasing building energy
  efficiency.

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• It is worth noting that lightweight and highly
  recycled aluminum packaging has the capability to
  reduce the carbon emissions and shipping costs in
  a range of industries.
• Notably, Oak Ridge National Laboratory of the
  Department of Energy concluded that an
  aluminum-intensive vehicle has the capability of
  achieving around 32 reduction in energy
  consumption in its total life cycle.
• Strong demand for aluminum in automotive sector
  is likely to be witnessed in the next half a
  decade. In a bid to comply with the model year
  2022-2025 vehicles standards, automakers are
  expected to incline toward aluminum.
• As a slew of companies embraces aluminum as a
  solution to modern manufacturing challenges,
  trends for producing lightweight automotive
  structures with low cost manufacturing are set to
  pick pace.

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360 Industry Analysis

• Given that aluminum has higher weight reduction
  capabilities as compared to steel materials,
  aluminum alloys have become the hot topic among
  auto makers. Aimed at die casting electric car
  parts, Tesla has invented new aluminum alloys.
  The novel aluminum alloys are believed to
  maintain high conductivity and high-yield
  strength.
• Notably, aluminum is being merged with flexible
  films to create a flexible and lightweight
  package. It is worth mentioning that the
  technology enables the packaging to expand to the
  shape of the contents and contract as the product
  is consumed. Further, aluminum foil is being used
  in food and pharmaceutical packaging as it
  provides a complete barrier to oxygen, light,
  moisture and bacteria.
•  

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• Competitive Analysis
• In what is perceived as a major strategic move,
  Novelis Inc. acquired Aleris Corp. for 2.8 bn in
  April 2020. The acquisition is said to boost
  business and bolster its penetration in the
  aerospace landscape.
• Buoyed by the go green concept, end-users are
  profoundly adopting aluminum products as they are
  fully recyclable and are strong yet lightweight.
  Aluminum market outlook appears to be sanguine as
  the ubiquitous metal has become a top-notch
  solution in almost all applications, such as
  automotive, home appliances, packaging,
  electrical electronics, among several others.

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Latest Research Report On Aluminum Market
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