The global aluminium alloys market is expected to exceed USD 150 billion by 2024, reveals data published in a recent report by Market Study Report. This market is mainly dependent on the availability of aluminium along with other alloying materials.
The rise in construction activities and infrastructure development in the emerging nations of Asia Pacific will account more than two-third of the overall share in 2024. Construction industry will generate revenue above USD 35 billion in 2024.
The aluminium alloys market application segments are categorized into construction, transportation, packaging, electrical, machinery, and others.
Some of the leading companies in the aluminium alloys market are Rio Tinto Alcan, Alcoa, United Company RUSAL, Aluminum Corporation of China, Constellium, Aluminium Bahrain, Kobe Steel, Norsk Hydro, Dubai Aluminium Company, Kaiser Aluminum Corporation, Aleris International, UACJ Corporation, ERAMET, Magna International Inc., and IBC Advanced Alloys Corp.