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Aluminum Market Size
- Report ID: GMI4521
- Published Date: Apr 2023
- Report Format: PDF
Aluminum Market Size
Aluminum Market size was valued at USD 169 billion in 2023 and is poised to depict over 6.1% CAGR from 2024 to 2032. The rising preference for aluminum packaging in the food and pharma sectors will propel the global market demand.
Aluminum foil has a prominent position in food service and processing industries owing to its unique advantages such as lightweight, non-toxicity, flexibility, and others. With the growing intake of frozen foods, the requirement for aluminum packaging solutions will rise.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Aluminum Market Size in 2023: | USD 169 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 6.1% |
| 2032 Value Projection: | USD 287 Billion |
| Historical Data for: | 2018 to 2023 |
| No. of Pages: | 320 |
| Tables, Charts & Figures: | 325 |
| Segments covered: | Product, Processing Method, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Despite the favorable environment, the introduction of strict regulations associated with aluminum metal exports may create a hindrance to market development to a certain extent. For example, the Department of Commerce and International Trade Administration issued a rule effective January 2021, mandating the submission of import licenses to U.S. Customs for aluminum product imports. However, the growing popularity of secondary aluminum is likely to create lucrative growth opportunities for aluminum developers over the estimated timeline.
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Aluminum Market Scope
