Markntel Advisors’ report, Green Aluminum Research Report: Trend, Business Growth, Size, Future Scope, Segmentation, Dynamics, and Forecast to 2030, offers a comprehensive guide for the growing industry. The expert team of analysts dedicated significant effort to gathering and evaluating the latest market data, resulting in a detailed and up-to-date report that offers valuable insights for individuals who rely on data-driven decisions, including business owners and analysts. The research report on the Green Aluminum presents well-researched facts and figures pertinent to the industry, whether the goal is to explore new markets, launch a new product, or maintain a competitive advantage.
Green Aluminum Market Research Report & Market Summary:
The Global Green Aluminum Market size is estimated to grow at a CAGR of around 37.85% during the forecast period, i.e., 2024-30. The market growth is attributed to soaring direct carbon emissions from the production of aluminum globally and the initiatives to curb them. As per the International Energy Agency, in 2022, nearly 270 million tons of direct carbon emissions were recorded from the aluminum production industry, which translates to about 3% of the world’s direct industrial carbon emissions. This indicates the crucial need for decarbonizing the aluminum industry at the fastest pace possible.
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Green Aluminum Market Dynamics:
Key Driver-
Surging Government Initiatives to Curb Carbon Emissions – To reverse the ill effects of climate change caused by fueling carbon emissions from various industries such as transportation, manufacturing, construction, etc., the national governments around the world have not only been encouraging the establishment of green aluminum production but also the adoption of green products by organizations. Countries like the US, India, the UAE, and a few others have been providing lucrative deals & options to both manufacturers and consumers to blend and further integrate green methods into their operations. For Instance:
- In 2024, the US Department of Energy, under its Industrial Demonstration Plan, would provide about USD 6 billion to a total of 33 projects, of which one is Centuary’s Green Aluminum to build a new low-carbon emitting smelter in Ohio.
- In 2024, the UAE and Oman’s industrial and energy projects, worth approximately USD 31.8 billion, are expected to be revolutionary in the renewable energy and green metals industries.
Moreover, international collaborations among countries for sustainable development in the future are predicted to boost the growth & expansion of the Global Green Aluminum Market in the coming years.
Green Aluminum Market Segmentation Analysis:
According to MarkNtel study the market is segmented into the following categories:
By Method
- Renewable Electricity– Market Size & Forecast 2024-2030F (Thousand Tons)
- Recycled Aluminum– Market Size & Forecast 2024-2030F (Thousand Tons)
Out of them all, renewable electricity as a method to lower carbon emissions during the production of aluminum is the most mature technique in the market.
By End Users
- Automotive– Market Size & Forecast 2024-2030F (Thousand Tons)
- Construction– Market Size & Forecast 2024-2030F (Thousand Tons)
- Electronics– Market Size & Forecast 2024-2030F (Thousand Tons)
- Others (Cans & Packaging, Aerospace, etc.) – Market Size & Forecast 2024-2030F (Thousand Tons)
Among them all, the automotive sector captured a major market share. Automotive has been the frontrunner in adopting green aluminum in the market.
By Source of Energy
- Solar– Market Size & Forecast 2024-2030F (Thousand Tons)
- Hydro– Market Size & Forecast 2024-2030F (Thousand Tons)
- Wind– Market Size & Forecast 2024-2030F (Thousand Tons)
- Recycled – Market Size & Forecast 2024-2030F (Thousand Tons)
- Others (Carbon Capture Storage, etc)
By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World.
Europe held a notable share of the Global Green Aluminum Market in the past period. This is due to the presence of notable industrial sectors and the awareness & willingness of the OEMs in the region to develop and integrate green or low-carbon solutions into their overall production processes. The continent has a vast presence in automotive, aerospace, food & beverage, packaging, metals, etc., industries that require heavy amounts of aluminum for their manufacturing processes. As stated by the European Commission, the manufacturing sector of Europe contributes to about 1/4th of its total GDP annually, with the presence of nearly 50% of large-scale enterprises.
As indicated in the latest market research report published by Markntel Advisors, “Green Aluminum Research Report: Forecast (2024-2030)”, this report offers a detailed analysis of the industry, featuring insights into the Green Aluminum industry. It encompasses competitor and geographical analyses, as well as recent advancements in the market.
Browse Full Report Along with TOC and Figures – https://www.marknteladvisors.com/research-library/green-aluminum-market.html
Top Companies Operating in the Green Aluminum Market:
- Norsk Hydro
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- China Hongqiao Group Limited
- Alcoa Corporation
- Capral Limited
- Constellium
- Reynaers Aluminium
- Granges
- Nanshan America
- Rio Tinto
- CBA
- South32
- PT Indonesia Asahan Aluminium
- Novelis
- Hammerer Aluminium Industries
- Other Potential Players (Hindalco Aluminum, Rio Tinto, etc.).
*Reports Delivery Format – Market research studies from MarkNtel Advisors are offered in PDF, Excel, and PowerPoint formats. Within 24 hours of the payment being successfully received, the report will be sent to your email address*
Other Report:
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- Canada Tire Marketsize is valued at USD1 Billion in 2023 & is estimated to grow at a CAGR of around 2.4% during the forecast period 2024-30
Key Report Highlights:
- Market Dimensions & Projections
- Pricing Evaluation,
- Recent Strategic Moves by Companies,
- Primary Stakeholders,
- Analysis of Import and Export Trends,
- Competitive Landscape Assessment,
- Emerging Opportunities,
- Market Trends and Indicators
Note – If there are any particular details you need that are not currently included in the report, we will be happy to provide them as part of our customization services.
Frequently Asked Questions (FAQs)-
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What leading factors would propel and impede the industry across the geography?
- How has the industry been evolving in terms of geography & Green Aluminum Market adoption?
- How has the competition been shaping up across the geography?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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