Aluminum Market - Forecast 2019 - 2025
Aluminum Market Overview: The trade value of aluminum and its products stood at $194.32 billion in 2018, after growing at 11% from 2017, according to the International Trade Centre (ITC). This increase in trade is due to application of aluminum in various end-user industries including packaging, construction, automotive, and others. In 2018, the aluminum market size was gauged to be 79 million tons in terms of quantity, and the application of aluminum is estimated to increase at a CAGR of 4.2% during the forecast period 2019-2025. APAC had the greatest aluminum market share of 66%, in 2018. This can be attributed to India being identified as a key country that imported $5.48 billion worth of aluminum in 2018 with a significant growth rate of 32% year on year. Furthermore, the Japan and Korea aluminum markets observed growth rate of 13% and 8% respectively, in 2018, according to ITC. China has been the leading aluminum marketplace for several years now. According to latest findings...