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Honey Market Growth Opportunities: Identifying Untapped Markets and Emerging Trends

The global honey market size is expected to reach USD 13.57 billion by 2030, registering a CAGR of 5.3% during the forecast period, according to a new report by Grand View Research, Inc. Increased demand for nutritious and natural sugar alternatives and healthy spreads is expected to drive the market. The growing demand for vegan and organic honey products, including soups, challah, and hot toddy, is likely to fuel the overall growth of this market. In addition, inclination towards the use of natural ingredients including honey by several pharmaceutical companies for treatments, such as hemodialysis, diabetic foot ulcers (DFUs), autolytic debridement, mucositis, vernal keratoconjunctivitis, and hemorrhoid, will fuel the market growth. Honey infused with natural ingredients helps boost the body’s healing process at a faster rate.

Honey Market Report Highlights

The organic processing segment is projected to register the fastest CAGR of 5.9% from 2023 to 2030 as manufacturers are launching various organic products owing to consumer demand

The online distribution channel segment is expected to register the fastest growth rate during the forecast period owing to a shift in consumer shopping behavior. Due to the availability of doorstep delivery, easy payment methods, and significant discounts, consumers prefer buying honey products from online websites

Asia Pacific is expected to register the highest CAGR from 2023 to 2030 due to the emerging markets of China and India. The growing number of new product launches and rising concerns over health are likely to positively influence the growth of the Asia Pacific market

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The conventional processing segment held the largest revenue share in 2022 and is expected to maintain its lead over the forecast period. The popularity of these products due to a variety of applications in the food and beverages and beauty and personal care industries is the key factor driving the segment. New product launches by companies in this segment are projected to fuel the market growth.

The hypermarkets and supermarkets distribution channel segment held the largest revenue share in 2022. Owing to the shopping experience offered by these establishments, a large percentage of people prefer to buy products from hypermarkets and supermarkets. Other key reasons contributing to the expansion of this distribution channel are the opportunity to physically inspect these products and the assistance provided. The market is characterized by the presence of a few well-established players and several small and medium players.

#HoneyMarketAnalysis #ApicultureIndustry #SustainableBeekeeping #EthicalSourcing #EnvironmentalConservation #InnovationInApiculture #HealthBenefits #FoodIndustry #NaturalProducts

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U.S. Solar Films Market Expansion: Exploring Market Penetration and Regional Opportunities

The U.S. solar films market size is anticipated to reach USD 1,404.5 million by 2030, growing at a CAGR of 6.3% from 2023 to 2030, according to a new report by Grand View Research, Inc. The U.S. market has increasing adoption of solar films across various industries and applications, including residential, commercial, and industrial sectors. This expansion is propelled by the growing awareness of renewable energy's significance in reducing carbon emissions and addressing climate change. In addition, favorable government incentives and policies, such as tax credits and rebates, continue to incentivize solar energy adoption, making solar films an attractive investment. Technological advancements in solar film materials and manufacturing processes have also improved efficiency and reduced costs, making them more accessible to a wider range of consumers. Furthermore, heightened environmental concerns, coupled with the desire to reduce energy costs and enhance energy security, are further propelling the adoption of solar films in the U.S. These factors collectively contribute to the robust and sustainable growth of the market.

U.S. Solar Films Market Report Highlights

Based on type, the encapsulation film segment held the largest revenue share of over 65% in 2022, due to its crucial role in protecting solar cells from environmental factors, ensuring the long-term durability and reliability of solar panels. Encapsulation films safeguard against moisture ingress and physical damage, making them an essential component in solar installations

Based on polymer type, the fluoropolymer film segment held over 64% revenue share in 2022, due to the exceptional durability and resistance to environmental stressors offered by fluoropolymers, making them well-suited for the demanding outdoor environment of solar panels

Based on thickness, the less than 100 mm segment held over 45% revenue share in 2022, due to the practicality and versatility of thinner solar films, which are lightweight, flexible, and cost-effective, making them a preferred choice for a wide range of solar applications

Based on film type, the clear (Non-reflective) segment held over 30% revenue share in 2022, due to its ability to seamlessly integrate into architectural elements while minimizing glare and maintaining aesthetic appeal, making it an ideal choice for building-integrated photovoltaic (BIPV) applications and urban environments

In terms of application, the construction industry segment held over 56% revenue share in 2022, and the segment growth is driven by the construction industry’s growing focus on sustainability and energy efficiency. Solar films offer a versatile and cost-effective solution for energy generation and aesthetic enhancement, aligning with these industry priorities

Based on end-use, the commercial segment held over 39% revenue share in 2022, and the segment growth is driven by the commercial sector's increasing emphasis on sustainability, energy efficiency, and long-term cost savings. Solar films offer a practical and eco-friendly solution for businesses to achieve these goals while generating clean, renewable energy

In June 2023, First Solar launched the world's first advanced thin-film semiconductor bifacial solar panel, initiating a limited production run. This pioneering technology will be showcased at Intersolar Europe in Munich, Germany, through the pre-commercial Series 6 Plus Bifacial solar module.

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Based on type, the encapsulation solar film segment was a highly penetrated segment accounting for over 65% of the U.S. market share in 2022, due to its critical role in safeguarding solar cells from environmental factors. Encapsulation films provide essential protection against moisture ingress and physical damage, ensuring the long-term durability and reliability of solar panels. As the solar industry continues to expand, the demand for high-quality encapsulation materials remains strong, underscoring their significant market presence.

Based on polymer type, the Fluoropolymer segment held over 64% revenue of the U.S. market in 2022, due to its exceptional durability and resistance to environmental stressors. Fluoropolymers, such as polyvinyl fluoride (PVF) and ethylene-tetrafluoroethylene (ETFE), are well-suited for the demanding outdoor environment of solar panels, withstanding prolonged exposure to factors like UV radiation, extreme temperatures, and moisture. This durability ensures the long lifespan and reliability of solar installations, making fluoropolymer-based solar films the preferred choice for maximizing energy generation and ensuring the sustained success of solar projects in the U.S.

Based on thickness, the less than 100 mm segment dominated the market in 2022 with a revenue share of over 45%, due to the practicality and versatility of thinner solar films. These films are lightweight, flexible, and easier to install and integrate into various applications, including building-integrated photovoltaics (BIPV). Their adaptability to different surfaces, such as windows, facades, and roofing materials, allows for seamless integration without compromising the aesthetics or functionality of structures. Thinner films are cost-effective and space-efficient, appealing to both residential and commercial solar projects, where maximizing energy generation and cost savings are paramount.

Clear (Non-reflective) was a highly penetrated film type segment due to its aesthetic appeal and suitability for various applications. Unlike reflective films, clear solar films are designed to maintain the appearance of architectural elements like windows, facades, and building surfaces while harnessing solar energy. This seamless integration into existing structures without altering their visual aesthetics makes clear solar films an attractive choice for building-integrated photovoltaic (BIPV) applications. In addition, they mitigate issues related to glare and light pollution, particularly in urban areas, contributing to their preference for regulatory compliance and community acceptance, further bolstering their dominance in the U.S. market.

#SolarFilmsMarketAnalysis #RenewableEnergy #SolarPower #EnergyEfficiency #CleanEnergy #GreenTechnology #SolarEnergy #EnvironmentalImpact #InvestmentOpportunities #EnergyTransition #FutureOfEnergy

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Microgrid Market Insights: Harnessing Data Analytics for Improved Energy Management

The global microgrid market size is expected to reach USD 224.34 billion by 2030, registering a CAGR of 17.1% from 2024 to 2030, according to a new report by Grand View Research, Inc. The improvement in manufacturing sectors of emerging markets including Mexico, China, and India as a result of favorable government policies to attract investments is expected to promote market growth.

Microgrid Market Report Highlights

The Combined Heat & Power (CHP) power source segment dominated the global market and accounted for more than 37.0% of the overall revenue share in 2023. Shifting preference from conventional Separ  ate Heat & Power (SHP) system to energy generation from single fuel is expected to have a substantial impact on the segment growth.

The grid-connected product segment dominated the global market and accounted for more than 65.0% of the overall revenue share in 2023. The rising popularity of smart micro-grid-connected PV systems to provide electricity to consumers by reducing transmission losses is expected to have a substantial impact.

North America led the global market and accounted for more than 35.0% of the overall revenue share in 2023. The high adoption rate of captive power generation methods in the industrial and municipal sectors of the U.S. for reducing reliance on the government-controlled power supply is expected to have a substantial impact.

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Microgrid differs from conventional electrical distribution systems as it acts as a close proximity medium between the power generation and power consumption sources which results in increasing efficiency and reducing transmission losses. These systems perform dynamic control over energy sources by enabling autonomous as well as automatic self-healing operations.

The rising importance of captive electricity generation as a key alternative to the regulated power supply by municipal regulators in mining and mechanical engineering sectors is expected to have a strong impact. Furthermore, the rising production output of unconventional sources including shale gas in the U.S. and Canada as a result of high utilization of fracking technology is expected to ensure access of natural gas as a power source over the next eight years.

#MicrogridMarketAnalysis #DistributedEnergyResources #SustainableEnergySolutions #DecentralizedEnergy #GridModernization #EnergySecurity #SmartGridTechnologies #ClimateChangeAdaptation #EnergyInfrastructure #DigitalizationInEnergy #EnergyManagement #GridReliability

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Dairy Herd Management Market Trends: Leveraging Technology for Sustainable Farming Practices

The global dairy herd management market size is expected to reach USD 5.35 billion by 2030, registering a CAGR of 7.1% during the forecast period, according to a new report by Grand View Research, Inc. Rising awareness among dairy farm owners toward improvement and optimization of production methods to decrease operational cost is anticipated to drive the market. Increasing global population and changing dietary habits are increasing demand for milk and milk products. The per capita income of individuals is increasing and as a result, they are spending more on foods that are rich in proteins, carbohydrates, and other vital nutrients. Milk and milk products being a major source of protein, their demand is expected to rise in the upcoming years. In order to cater to this increasing demand, farmers are upgrading manual operations to automated ones, such as waste and environment management, and increasing usage of mobile apps for managing cattle and dairy production.

Dairy Herd Management Market Report Highlights

The global market is anticipated to exhibit a CAGR of 7.1% over the forecast period, on account of growing emphasis of end users on improvement and optimization of dairy operations

By product, milk management systems are anticipated to exhibit steady growth through 2030 thanks to increasing adoption and deployment in dairy farms

On the basis of end user, large-scale farms will register higher growth compared to cooperative, small, and medium scale ones owing to associated cost of installation of such solutions

Asia Pacific is anticipated to exhibit lucrative growth over the forecast period owing to changing preference of dairy farm owners toward automation in the industry. Moreover, favorable government initiatives to increase production in countries such as China and India are expected to boost the market.

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The dairy industry has been lagging behind, as compared to other industrial sectors, in the adoption of robots. This can be attributed to limited knowledge about the technology and low per capita income of dairy farm owners. However, there is a wide range of potential applications of robotics in this industry. Milking robots or automatic milking systems are one of the effective and successful applications of robotics in this space. Robotic milking refers to extraction of milk from dairy animals without human labor. The implementation of automated systems in this industry is expected to boost the market.

Advanced software and hardware components such as temperature controllers and behavior monitoring cameras and sensors used in dairy herd management have minimal error probability. Use of these components in combination with integrated historical database helps in improving production output. Advantages of dairy herd management during calving and pregnancy, such as health and behavior monitoring and medication tracking, are also expected to support market growth in the upcoming years.

However, manufacturers have struggled to integrate these health-related operational improvements into mainstream dairy farming practices. While attempts were made in the past to introduce new these technologies, small-scale farmers have been skeptical to use new technologies and have rejected the same. This arises from an orthodox mindset or focus on buying new livestock to increase production rather than investing in new technology.

The large-scale end-user segment has been dominating the market and is expected to retain its dominance over the forecast period on account of higher rate of adoption. Moreover, increasing awareness regarding its cost benefits over traditional management techniques, coupled with rising labor cost, is expected to boost the market in the upcoming years. Growing competition trends have also led farm owners globally to install innovative solutions that help them attain operational efficiency. However, high initial investments inclusive of expensive consulting fees, major infrastructural developments, and advanced controllers and equipment, combined with low awareness among end users are expected to restrain the market growth.

#DairyHerdManagement #LivestockManagement #AgriculturalTechnology #FarmManagement #AnimalHealth #DairyFarming #HerdHealth #DairyIndustry #FarmTech #Agribusiness #AnimalWelfare #HerdManagement #PrecisionFarming #AgriTech #LivestockHealth #FarmAutomation #DairyEconomics

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High-Frequency Trading Server Market Overview: Understanding Market Dynamics and Growth Factors

The global high-frequency trading server market size is expected to reach USD 918.0 million by 2030, registering a CAGR of 6.2% from 2023 to 2030, according to a study conducted by Grand View Research, Inc. In the trading industry, servers play a pivotal role in reducing tick-to-trade delays; this is driving the product demand. Furthermore, with improvements in server technology over the years, high-frequency trading (HFT) servers, in particular, have witnessed several advancements in terms of processor technology, which is creating opportunities for industry growth. These advancements are fueled by the need to track stock markets where every nanosecond counts and are expected to become an indispensable element of the finance sector over the coming years.

High-frequency Trading Server Market Report Highlights

The x-86 based processor segment accounted for the highest revenue share in 2022 and is estimated to retain the dominant position throughout the forecast period registering a steady CAGR from 2023 to 2030

The large-scale adoption of operating systems based on x86-based architecture for high computing applications is expected to drive the segment growth over the forecast period

4U form factor is anticipated to register a Significant CAGR over the forecast period due to rising usage on account of its capability to handle high-performance computing application

Asia Pacific is expected to be the fastest-growing region capturing a CAGR of 8.6% over the forecast period. Initiatives undertaken by the Chinese government to promote automated trading in financial markets contributed to market growth, and this trend is expected to continue over the next few years.

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Increased adoption of algorithmic trading in global financial markets has encouraged companies in the financial sector to opt for high-speed transactions. Technological advancements, such as integrating AI and social media feeds with electronic trading, are expected to drive the demand for high-speed trading transactions. Thus, the demand for low-latency trading servers has increased tremendously among the derivatives, quantitative, and proprietary trading firms. Asia Pacific has become one of the new revenue pockets for market growth.

Favorable government regulations for the implementation of automated trading and new investment law in China have emerged as potential revenue streams for the vendors. Furthermore, the surge in adoption of Artificial Intelligence (AI) and machine learning technology by small-sized hedge fund firms, is anticipated to drive the overall product demand over the forecast period. A competitive edge is now determined by nanoseconds and microseconds. Speed is important to market participants, such as large investment banks, hedge funds, and other financial companies, because it impacts profitability, and hence the deployment of HFT servers is of paramount importance.

#HighFrequencyTrading #TradingServers #FinancialTechnology #TechnologyTrends #AlgorithmicTrading #FinancialMarkets #ServerInfrastructure #TradingSystems #TradingTechnology #FinancialServices #InvestmentStrategies #ElectronicTrading #TradingPlatforms #TradingInfrastructure

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Orthopedic Devices Market Trends: Harnessing Technology for Orthopedic Advancements

The global orthopedic devices market size is anticipated to reach USD 103.9 billion by 2030 and it is projected to grow at a CAGR of 5.3% from 2024 - 2030, according to a new report by Grand View Research, Inc. Major factors driving the market growth include high demand for orthopedic surgeries due to rising road accidents and prevalence of orthopedic diseases. Rise in geriatric population prone to orthopedic conditions primarily drives the global demand for orthopedic solutions. Effects of aging, such as lowering bone density and weakening of bones due to excessive loss of bone mass, are prominent in people from 25 to 54 years of age and becomes more noticeable after 55 years.

Orthopedic Devices Market Report Highlights

Based on products, orthopedic implants segment held the majority share of the market in 2023, with a revenue of USD 37.1 billion owing to rapidly rising number of knee surgeries, hip replacement surgeries, and spinal implant surgeries

Based on end-use, hospitals segment held the majority market share in 2023, with a revenue of USD 42.6 billion. This can be attributed to significant infrastructure advancements and availability of world-class treatment solutions

North America captured the largest market share of 46.2% in 2022 owing to the presence of a large number of major market players and high adoption of advanced technologies are the major driving factors

Asia Pacific is anticipated to witness the fastest CAGR of 7.7% over the forecast period. Presence of a largely untapped market and supportive government regulations are expected to fuel the market growth in this region.

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High adoption of minimally invasive surgeries and an increasing number of sports and road traffic accidents are expected to fuel growth of the market during the forecast period. Arthroscopy, minimally invasive total joint replacement, and spine surgeries are some of the newly adopted minimally invasive surgeries. Stringent procedures of regulatory approvals are anticipated to hinder market growth over the forecast period. In addition, high cost of devices and surgeries are some other factors likely to impede growth.

COVID-19 pandemic had a significant impact on the market. Elective orthopedic surgeries were postponed allocating resources for COVID-19 patients, leading to reduced demand. However, over time, the market adapted, focusing on infection control, remote consultations, and tele-rehabilitation. This pandemic accelerated digital health adoption, and implant materials evolved for patient safety.

Moreover, key players in the market, such as NuVasive, Inc.; Medtronic plc; Stryker Corporation; Zimmer Biomet; and Smith+Nephew, among others, are engaging in strategic initiatives such as partnerships, collaborations, new product launches, acquisitions, and expansions to strengthen their market position. In January 2022, Smith+Nephew acquired Engage Surgical, which is involved in manufacturing cementless knee systems in the U.S. This acquisition is anticipated to enhance company’s position in meniscal tear solutions and other knee arthroscopy devices.

#OrthopedicDevices #MusculoskeletalHealth #Orthopedics #OrthopedicImplants #OrthopedicCare #OrthopedicTechnology #OrthopedicTreatment #OrthopedicDevicesIndustry #OrthopedicDevicesMarket #OrthopedicRehabilitation #OrthopedicInstruments #OrthopedicProsthetics #OrthopedicResearch #OrthopedicTrends

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Anastomosis Devices: Trends and Forecasts in the Sector

The global anastomosis devices market size is expected to reach USD 5.80 billion by 2030, according to a new report by Grand View Research, Inc. It is projected to register a CAGR of 5.5% from 2023 to 2030. The rising prevalence of cardiovascular and gastrointestinal diseases is poised to propel the demand for anastomosis devices in the forthcoming years. According to the WHO, an estimated 17.9 million people died from Cardiovascular Diseases (CVD) in 2019, which represented 32% of all deaths in the world. It also states that 85% of these deaths are due to strokes and heart attacks. Coronary Heart/Artery Disease (CHD/CAD) is the most common type of heart disease and approximately 805,000 Americans have a heart attack each year. Surgery is crucial for the treatment of such life-threatening diseases, thereby increasing the adoption of anastomosis devices in these surgeries.

Anastomosis Devices Market Report Highlights

Disposable anastomotic devices will continue to dominate the market until 2030, commanding just over 88.0% of the overall revenue share in 2022. The growth can be attributed to wide product offering by various market players

Reusable anastomotic devices are anticipated to exhibit a CAGR of about 6.1% over the forecast period owing to the increasing need to reduce biomedical waste

Based on application, cardiovascular surgery held the largest share of the market in 2021 owing to the rising prevalence of CHD and the increasing number of CABG procedures around the globe

The ambulatory care centers & clinics segment is anticipated to expand at a lucrative CAGR of 5.6% during the forecast period. Increasing healthcare expenditure owing to the rising prevalence of chronic diseases and cases of hospital readmissions has encouraged the expansion of outpatient centers

North America was at the forefront in the global arena owing to the presence of well-structured reimbursement policies, widening base of the target population, and local presence of a large number of key players

Asia Pacific is expected to register a lucrative CAGR of 6.4% during the forecast period owing to the growing geriatric population, rising incidence of CVD, rapid developments in the healthcare sector, and increasing disposable income

Key market players are engaged in various strategies such as distribution agreements and product innovation to augment their market penetration. For instance, in November 2020, GI Windows Medical Corp. broadcasted that the self-forming magnetic compression anastomosis device has received U.S. FDA Breakthrough Device Designation

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The outbreak of COVID-19 impacted elective procedures. Restrictions of COVID-19 resulted in postponements to the number of procedures performed. Presently most countries have elevated restrictions on elective procedures. Consequently, there would be lucrative demand for anastomosis devices as these procedures start with full force. Besides, demand for healthier patient outcomes will drive the introduction of advanced technologies in anastomosis devices and promotes market growth. For instance, in October 2020, GI Windows Corp. raised $16.4 million in a Series A-1 funding that involved investment from Johnson & Johnson Innovation and others. The funds are allotted to improve the development and clinical trials of the firm’s anastomosis technology.

#AnastomosisDevices #VascularSurgery #HealthcareTechnology #SurgicalInnovation #CardiovascularHealth #SurgicalDevices #MedicalTechnology #HealthcareIndustry #SurgicalProcedures #VascularHealth #SurgicalDevicesMarket #VascularAnastomosis #SurgicalTechniques #PatientCare #SurgicalInstruments #HealthTech

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Iron Casting: Navigating Opportunities and Challenges in the Sector

The global iron casting market size is expected to reach USD 172.66 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 6.1% over the forecast period. The increasing investments in the infrastructure & renewable energy industry are expected to propel the demand for the product. Iron castings are produced by pouring melted cast iron into casts or molds to make products of desired shape and size, via various methods such as sand and investment casting. Different product types available in the market include gray, ductile, and malleable, which are used according to their application requirements.

Iron Casting Market Report Highlights

Based on the product, ductile cast iron is anticipated to register the fastest CAGR of 6.4%, in terms of revenue, from 2022 to 2030. The product is preferable in various end-use industries such as automotive, water system & sanitization, and renewables as it offers higher toughness and strength than gray cast iron.

Based on application, the railway is expected to grow at a CAGR of 7.4%, in terms of revenue, across the forecast period. This growth is attributable to increasing investments by countries to develop their rail infrastructure to promote transportation of goods via rail and improve connectivity.

Based on region, North America is expected to register a CAGR of 5.5%, in terms of revenue, over the forecast period. Rising emphasis on shifting towards renewables, investment in railways, up-gradation & development of water system & sanitization, and advancement of machines & tools is expected to drive the market growth in the region.

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Based on product, gray cast iron held the largest revenue share of the global market in 2021, and this trend is expected to continue across the forecast period. It is preferred owing to the benefits it offers such as abrasive resistance, vibration damping capacity, and better castability than other types. The product is used for making machine tool bases, soil pipes, automobile engine blocks, and internal combustion engine head manifolds.

Based on region, Asia Pacific held the largest revenue share of the global market in 2021. In the region, China was the key market in 2021 but India is expected to register the fastest growth rate across the forecast period. The increasing demand for the product from various industries such as railways, renewables, machines & tools, and infrastructure is propelling competition in the region.

In February 2022, Bharat Forge announced the acquisition of JS Autocast Foundry India, a manufacturer of ductile iron castings for hydraulics, wind energy, automotive, and off highways. The acquisition is anticipated to help Bharat Forge expand its product portfolio as well as manufacturing presence.

The global market is highly competitive in nature. Key players in the industry are carrying out mergers & acquisitions for the development of their business. For instance, In November 2021, Wisconsin-based Charter Manufacturing acquired Aarrowcast Inc., a gray and ductile iron casting manufacturer. Aarrowcast Inc. has a production capacity of 42,000 tons per year. This acquisition is expected to help Charter Manufacturing to expand the manufacturing of its metal offerings and diversify its customer base.

#IronCasting #FoundryIndustry #MetalCasting #IndustrialManufacturing #Metallurgy #GlobalMarket #FoundryTechnology #CastingProcesses #IronFoundry #Metalworking #FoundryEquipment #CastingIndustry #MarketAnalysis #IronProduction #FoundryTrends

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Ferrosilicon Market: Trends, Drivers, Challenges, and Opportunities for Key Players

The global ferrosilicon market size is expected to reach USD 13.67 billion by 2030, registering a CAGR of 2.5% over the forecast period, according to a new report by Grand View Research, Inc. Rising demand for ferrosilicon in the steel and cast iron industries is anticipated to contribute to market growth over the forecast period. Ferrosilicon is used as a deoxidizer in the steel industry to prevent the loss of carbon during the production process. As a result, rising investment in the steel industry is anticipated to augment the market growth. For instance, in January 2022, POSCO commenced construction of a new galvanized steel plant in Tangshan, Hebei, China, which is jointly owned by HBIS Group.

Ferrosilicon Market Report Highlights

The deoxidizer segment accounted for the largest revenue share of over 69.0% in 2022, and this trend is expected to continue across the predicted timeline. It finds use in steel production. According to World Steel Association, in 2022, global crude steel production was 1,831.5 million tons.

Based on end-use, cast iron is anticipated to register the fastest CAGR of 3.4%, in terms of revenue, across the forecast period, owing to the use of ferrosilicon as an inoculant in the industry

Further, the shifting trend from non-stick cookware to those made up of cast iron, owing to growing concerns about potential health risks, is projected to emerge as the key driver for cast iron end-use segment growth over the forecast period.

Based on region, Asia Pacific dominated the market and accounted for a revenue share of nearly 67.0% in 2022. The rising production of automobiles and investments in the construction industry are influencing the demand for ferrosilicon in the region.

In North America, the market is projected to witness a CAGR of 2.2%, in terms of revenue, over the forecast period. The U.S. is anticipated to be the major market of the North American region over the forecast period.

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The USD 600 million plants are anticipated to have an annual production capacity of 900 kilotons and will supply galvanized steel sheets to the automotive industry. Furthermore, due to their long life span and good compressive strength, cast iron pipes are widely used in plumbing applications. Companies involved in cast iron pipe production are expanding their capacity, thereby fueling ferrosilicon consumption. For instance, in December 2021, AMERICAN SpiralWeld Pipe Company, a producer of cast iron pipe, announced its decision to invest USD 40 million to expand its operation in Richland County, U.S. Furthermore, rising investments in China’s construction industry are expected to benefit market growth.

For instance, China initiated five major infrastructure projects in the third quarter of 2021, one of them was an investment of USD 4,793 million in the construction of a railway line from Liuzhou to Wuzhou covering a distance of 237.78 kilometers. Such projects are aiding the consumption of steel and related products, thereby, positively influencing market growth over the forecast period. The market is competitive with a presence of a large number of players scattered across different regions. To uphold and expand their presence, market vendors are involved in acquisition activities. For instance, in February 2022, Elkem ASA acquired the remaining 50% stake in the Salten energy recovery plant from Kvitebjørn Energi, thus, taking 100% ownership. This acquisition aims to enable the production of environmental-friendly ferrosilicon grade.

#FerrosiliconIndustry #MetalAlloys #SiliconMarket #SteelProduction #FerrosiliconApplications #Metallurgy #GlobalMarketTrends #RawMaterials

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Navigating Market Dynamics in the Long Steel Products Industry

The global long steel products market size is expected to reach USD 1,012.11 billion by 2030, expanding at a CAGR of 5.1% from 2024 to 2030, according to a new report by Grand View Research, Inc,. Products such as rebars and wire rodsare of vital importance in today’s world with their growing emphasis in the building and construction industry. Based on product, the market is segmented into rebars, wire rods, sections, and tubes, of which rebars are extensively used in the construction of infrastructure and buildings. Wire rods are manufactured by drawing hot metals through shafts to develop wires with reduced diameters. Wire rods represent the most ductile form owing to their high ductility and easy availability in different diameters. They are widely used in construction and fencing applications which is positively impacting their growth.

Long Steel Products Market Report Highlights

Based on product, rebars held a revenue share of more than 34.0% in 2023 of the global market. Rebars are embedded in the concrete or used along with it so that the concrete can withstand the compressive forces in the structure and sustain against the tensile forces formed in the structure. The demand for rebars is expected to propel in developing nations owing to the growing construction activities

In terms of revenue, wire rods is anticipated to register a CAGR of 5.9% across the forecast period owing to their rising use in the automotive industry

Asia Pacific accounted for the highest share of over 66.0% in 2023, in terms of revenue, and this trend is anticipated to continue over the forecast period. As the region is characterized by a growing population and surging housing requirements, countries such as China and India, are witnessing an increasing number of residential construction projects. This is expected to result in significant product demand in the Asia Pacific in the coming years

The market is characterized by intense competition. Several of players are entering into long term supply contracts with end-users. ArcelorMittal, Emirates Steel Arkan and Emirates Rebar Limited are among the leading players of the market in the world

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Based on region, Asia Pacific is one of the leading markets in the world. The growth is attributable to China which is the largest producer and consumer of long steel products in the Asia Pacific. Other major markets in the region include Japan, South Korea, India, and Southeast Asian countries such as Indonesia, Vietnam, and Thailand. In recent years, the Asia Pacific market has faced challenges due to a global oversupply of raw materials, increased competition from other steel-producing countries, and the impact of the COVID-19 pandemic on the region's economies.

Further, various growth strategies such as new product development and capacity expansions by the market players are likely to benefit the industry growth. For instance, in February 2023, ArcelorMittal introduced a new blast oxygen furnace LD (Linz-Donawitz) converter in Bosnia with a capacity of 125 tons. This converter has been supplied by Primetals Technologies. Thus, this investment ramps up the production and processing of steel into billets, bars, blooms, and ingots.

#LongSteel #SteelMarket #ConstructionMaterials #BuildingIndustry #SteelIndustry #Manufacturing #SteelProduction #IndustrialMaterials #StructuralSteel #MarketAnalysis #SteelDemand #Metallurgy #BuildingMaterials #ConstructionTrends #SteelPrices #IndustryInsights

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Dolomite Market: Trends, Technological Advancements, and Investment Strategies

The global dolomite market size is expected to reach USD 3.05 billion by 2030, growing at 6.8% CAGR from 2023 to 2030, according to a new report by Grand View Research, Inc. The rising investments in wastewater treatment plants along with expansion in steel production are expected to propel the consumption of dolomite across the forecast period. Dolomite is a mineral consisting of carbonates of calcium & magnesium and other impurities. Based on product, the market is segmented into calcined, sintered, and agglomerated dolomite. The agglomerated segment accounted for a revenue share of over 29.0% in 2022 of the overall market. It is witnessing high demand from industries such as construction, agriculture, glass, magnesite, animal feed, and others, as it has high calcium carbonate content. It can also be processed into dololime which can be further processed into precipitated calcium carbonate (PCC) products.

Dolomite Market Report Highlights

Based on product, the calcined segment held the largest revenue share of over 39.0% in 2022. The increasing steel manufacturing is expected to propel the demand for calcined dolomite over the forecast period

Based on end-use, the agriculture segment is expected to grow at a CAGR of 7.2% in terms of revenue, during the forecast period. Dolomite is used as a soil stabilizer in the agriculture sector. Increasing population and limited land resources have led governments to increase their agricultural productivity with limited resources, owing to which governments across the world are providing lucrative subsidies to farmers to purchase quality fertilizers

Based on region, Asia Pacific is expected to register a CAGR of 7.1% in terms of revenue, over the forecast period. Rising investment in infrastructure and construction is anticipated to augment product demand over the coming years

Based on end-use, the glass & ceramic segment is expected to grow at a CAGR of 7.3% in terms of revenue during the forecast period. Glass production has been witnessing significant growth on account of the increasing demand from architecture, solar energy, and packaging industries in the past few years

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Based on end-use, the market is segmented into iron & steel, construction, glass & ceramics, agriculture, water treatment, and others. Water treatment is anticipated to register high growth over the forecast period. Dolomite is used in wastewater treatment plants to balance the acidity and alkalinity of the water. Its usage helps remove excess salts and heavy metals from the water, making it safe for discharge into the environment. By doing this, dolomite helps make the water treatment process more effective and efficient.

Based on region, North America is expected to grow at a CAGR of 6.9% over the forecast period. The consumption of dolomite in the region is increasing due to the growing developments in the construction industry and massive steel production. The U.S. is the largest dolomite industry in the region. According to IEA, the U.S. contributes over 70% to the crude steel production of North America. The dolomite industry is highly competitive owing to the presence of several producers. They face competition from other manufacturers engaged in producing substitutes like limestone and ilmenite. As a result, they adopt strategic initiatives like capacity expansion and mergers & acquisitions to stay ahead of the competition. For instance, in March 2023, ?i?ecam invested in the expansion of its sand separation facility and limestone and dolomite processing facility in Mersin, Turkey to ensure a consistent raw material supply for its flat glass production.

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Iron Ore Pellets Market: Trends, Technological Advancements, and Investment Strategies

The global iron ore pellets market size is expected to reach USD 63.52 billion by 2027, expanding at a CAGR of 3.7% from 2020 to 2027, according to a new report by Grand View Research, Inc. The product demand is predicted to be largely driven by rising steel production in Asia Pacific. Iron ore pellets are an important source for steel manufacturing. Rapid industrialization and urbanization in emerging economies of Asia Pacific since the past few years have stimulated the production of steel. This has caused a surge in demand for iron ore pellets in the region.

Iron Ore Pellets Market Report Highlights

Asia Pacific acquired the largest volume share of 52.3% in 2019. This can be attributed to a large steel production base in China

By product, direct reduced pellet is anticipated to exhibit the fastest CAGR of 3.8% from 2020 to 2027 in terms of revenue owing to rising penetration of direct reduction production method

Based on trade, the captive segment dominated the market with a volume share of 70.8% in 2019 owing to a large number of integrated steel plants across the globe

Middle East and Africa is expected to expand at a significant CAGR of 3.1% from 2020 to 2027 in terms of revenue owing to several economic diversification programs implemented by Middle Eastern and North African countries

The global market is highly competitive with Vale and Rio Tinto leading in terms of production capacity and market share.

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The product is mainly used in captive form by large integrated steel producers. However, there is ample potential for seaborne trade of the product as cross country trade is expected to rise over the coming years owing to rising demand from Asia Pacific and Middle East and Africa.

China dominates the market owing to huge steel production capacity in the country. However, emerging economies such as India, Vietnam, Myanmar, Philippines, and Indonesia are expected to witness significant growth as these countries are posing a significant challenge to the Chinese steel producers owing to their comparatively lower labor costs and supportive government policies.

Major players in the industry include multinational companies such as Vale, Rio Tinto, and BHP Billiton. Rio Tinto surpassed Vale as the leading global supplier of iron ore as well as its pellets in the first quarter of the year 2020 as Vale witnessed a sharp decline in iron ore output due to a deadly dam burst owned by Vale in 2019.

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Steel Structures Shaping the Future: A Detailed Analysis of the Structural Steel Market Dynamics

The global structural steel market size was valued at USD 174.51 Billion in 2030 and is likely to register a compound annual growth rate (CAGR) of 5.9% from 2024 to 2030. The market growth is attributed to the growth in the construction sector and rising demand for steel as a green and sustainable material. Structural steel is utilized for construction-related applications. Its high carbon content offers high strength and low ductility. It is available in the form of various shapes such as I-beam, Z-shape, angle, tee, bar, and rod, depending upon the applications. It can be customized into a variety of shapes in different thicknesses and sizes owing to its ductility. Based on application, the market is segmented into residential and non-residential, where the latter dominates the market, in terms of revenue share.

Structural Steel Market Report Highlights

Based on region, Asia Pacific dominated the global market in 2022 on account of the growing infrastructural developments in the region

The non-residential application segment is anticipated to register the fastest CAGR, in terms of revenue, over the forecast period due to the rising renovation activities and spending on infrastructure development

The industrial sub-segment led the non-residential application in 2022. Increasing construction of lightweight industrial building systems that make use of thin sheet-covered surfaces is the recent technological development, which is driving the demand for high-strength structural steel

Middle East & Africa is expected to grow at a considerable CAGR, in terms of revenue, over the forecast period. The growth can be attributed to the upcoming infrastructure-related projects in the Middle East

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Growing spending on the commercial sector & infrastructural developments across various nations is augmenting the product demand in non-residential applications. The segment is further divided into industrial, commercial, offices, and institutional. Structural steel is widely used in numerous industrial sectors owing to its high strength-to-weight ratio. In the construction industry, it is utilized in designing and building industrial spaces, such as warehouses, bridges, and factories. Growth in the manufacturing sector is expected to propel the need for new factories and plants. For instance, after the emergence of the COVID-19 pandemic, various new facilities were established to meet the rising demand for PPE in the U.S.

Asia Pacific was the dominant regional market in 2020 and this trend is anticipated to continue over the forecast period. The growing construction spending in the developing economies of the region is anticipated to augment the product demand. For instance, in August 2021, India announced that it aims at spending INR 100 trillion (USD 1.35 trillion) on infrastructure development for boosting economic growth and jobs in the country. The competitive rivalry is extremely high in the market due to the presence of several small- and large-scale players spread across the world. The companies are striving to recover from their losses caused by the COVID-19 pandemic and are taking initiatives, such as mergers & acquisitions and capacity expansions, to further widen their reach.

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Metal Stamping Market: Industry Insights, Growth Drivers, and Competitive Landscape Analysis

The global metal stamping market size is expected to reach USD 316.72 billion by 2030, registering a CAGR of 4.2% over the forecast period, according to a new report by Grand View Research, Inc. The increasing production of automobiles is anticipated to drive the demand for metal stamping as it is used in the manufacturing of car body panels, transmission components, and interior and exterior structural components. Automobile consumers are shifting their focus towards lightweight vehicles on account of rising concerns about environmental pollution. According to LMC Automotive, U.S. light vehicles sales reached around 14.5 million in 2020 and are expected to reach nearly 15.8 million by 2022. The growing demand for lightweight vehicles is encouraging auto component manufacturers to increase their production capacities and engage in new product developments.

Metal Stamping Market Report Highlights

Based on process, the blanking segment is anticipated to progress at a significant CAGR over the forecast period, owing to the increasing demand from the automotive industry on account of its precise and superior stamping ability.

The bending segment accounted for a revenue share of over 16.0% in 2022. Products manufactured using this process ensure stability and durability, thus it is mostly used in auto components.

Based on application, consumer electronics is projected to be the fastest-growing segment over the forecast period. The growth is attributed to the increasing utilization of lightweight metal components to improve the durability of electronics.

Industrial machinery held the second-largest revenue share of the global market in 2023. The segment growth is attributable to the rising demand for machinery and automation to improve output efficiency.

Asia Pacific held the largest revenue share of more than 36.0% in 2023 owing to increasing demand for cars and consumer electronics in the region

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This, in turn, is anticipated to augment market growth over the coming years. Major automobile manufacturers that have in-house component manufacturing facilities are expanding their production capacities to meet the growing demand for automobiles. Moreover, the telecommunications industry is also projected to witness lucrative demand for stamped products owing to the growing investments in 5G technology. For instance, in November 2020, FAIST Precision Suzhou announced its investment in the installation of a new die casting machine, called the FRECH GDK3200T, which will be used to run 5G projects for mass production. In the Asia Pacific, increasing demand for consumer electronics, such as mobile phones, computers, laptops, and headphones, is likely to boost the demand for metal stamping as it is used in manufacturing metal frames, such as metal headbands, which are used in headphones.

Change in consumer preferences towards enhanced audio experience along with a rapidly growing music industry, and advancement in VR technology are the major factors that are expected to drive the demand for headphones.  This, in turn, is likely to propel market growth over the coming years. The market is highly competitive with the presence of local as well as global players including Alcoa Corp., Lindy Manufacturing Co., Tool & Manufacturing Company, and D&H Industries. These companies are focusing on long-term agreements, capacity expansions, and mergers and acquisitions to meet the growing product demand from potential customers. For instance, in October 2021, Shiloh Industries completed the acquisition of two stamping plants fromBenteler for the automotive business. These plants are equipped with modern precision laser cutting and hot-formed steel stamping products for the production of chassis components.

#MetalStamping #Manufacturing #MetalsIndustry #IndustrialProduction #Automotive #Aerospace #Engineering #MarketAnalysis #SupplyChain #MaterialScience #TechnologyTrends #GlobalMarket #Innovation #Sustainability #CompetitionAnalysis

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Metal Forging Market: Industry Size, Growth Trends, and Key Players Strategies

The global metal forging market size is expected to reach USD 145.44 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 7.7% during the forecast period. Rising awareness about climate change and increasing investment in renewables, especially in wind and hydro, by governments is expected to boost the consumption of forged components. Thus, this investment is expected to propel the product demand during the forecast period. For instance, in October 2021, the U.S government unveiled plans to build up to 7 major offshore wind farms. The government is targeting to produce 30 gigawatts of wind power by 2030.

Metal Forging Market Report Highlights

The aluminum raw materials segment is anticipated to register the fastest CAGR during the forecast period due to the high demand for lightweight materials from industries, such as aerospace, power generation, and automotive

The aerospace application segment is expected to grow at a steady CAGR during the forecast period due to the high demand for air travel owing to changes in social behavior, which, in turn, is boosting aircraft production

North America is expected to register a CAGR of 4.7%, in terms of volume, from2022 to 2030. Increasing investment in the construction & infrastructure industry and demand for renewables is driving the regional market

The agriculture application segment is expected to register a significant CAGR, in terms of revenue, during the forecast period

Steady demand for farm equipment in countries, such as India and Brazil, is likely to support market growth in the coming years

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Similarly, in April 2022, the government of the country announced that it is planning to develop a 40 GW offshore wind project by 2050 that is expected to spread over 50 wind farms.Metal forging is the process, in which metals are shaped and formed using compressive force. These forces are applied using pressing, hammering, and rolling. Increasing demand for the product in various industries, such as power, construction, agriculture, marine, and aerospace, is anticipated to augment the market growth.Based on raw material, carbon steel accounted for the largest revenue share in 2021 and it is expected to maintain its dominance throughout the forecast period.

The growth is attributed to the properties of the material as the product often has a tight grain structure, which makes it mechanically strong to withstand friction. Also, carbon steel is cheaper than its counterparts.Construction is anticipated to expand at a steady CAGR, in terms of revenue, during the forecast period. The growth is attributed to increasing government investment in the construction sector to untangle the negative impact created by the COVID-19 pandemic.In November 2021, the Italian government came up with a new recovery and resilience plan to foster economic growth by 1.5 to 2.5% by 2026. The government is expected to invest in the construction of public buildings, renewable energy, and waste & water management.

In 2021, Asia Pacific was the largest regional market, in terms of revenue as well as volume. China and India were the largest consumers of metal forgings in 2021 in the APAC region. The rising demand for forged products from various application industries, such as construction, automotive, and energy, has pushed product consumption in the region.The global metal market is highly competitive. The rising demand for forged products has forced key manufacturers to opt for merger & acquisition strategies. For instance, in June 2021, Bharat Forge, a leading forging company in India announced that they have acquired Sanghvi Forging & Engineering Ltd.

#MetalForging #Manufacturing #MetalsIndustry #IndustrialProduction #Automotive #Aerospace #Engineering #MarketAnalysis #SupplyChain #MaterialScience #TechnologyTrends #Sustainability #CompetitionAnalysis

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Aluminum Die Casting Market: Trends, Opportunities, Challenges, and Strategic Insights

The global aluminum die casting market size is expected to reach USD 105.63 billion by 2030, registering CAGR of 5.4% from 2023 to 2030 according to a new report by Grand View Research, Inc. The growth of the telecommunication sector coupled with the increasing demand for lightweight materials from the automotive and aerospace industries is expected to propel the market growth in the coming years. Die casting is a process, performed by forcing molten aluminum into a steel die (mold) under pressure. Based on production process, the market is segregated into pressure die casting and other processes. Pressure die casting is further segmented into high and low, where the former constitutes a larger share due to its higher production rates. On average, European vehicles consist of 80-100 kilograms of high pressure die casting (HPDC) components. Other types of die casting include vacuum and squeeze, which find use in applications, such as solar sensors and turbine blades.

Aluminum Die Casting Market Report Highlights

Based on application, telecommunication is expected to register the highest CAGR of 7.3% in terms of revenue during the forecast period owing to increasing technological advancements and rising investments in the sector

In the pressure die casting production process segment, HPDC held the largest revenue share of over 74.0% in 2022 and is anticipated to maintain its lead during the forecast period. This can be attributed to the high preference for HPDC among casting manufacturers owing to the high efficiency of the process

Asia Pacific held the largest revenue share of more than 50.0% in 2022 on account of the increasing investments in developing economies pertaining to capacity expansions, especially in the transportation industry

In North America, the U.S. accounted for a revenue share of over 64.0% in 2022. Rising construction spending, coupled with EV production in the country, is expected to prove fruitful for the market growth during the coming years

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Aluminum die casting components are extensively used in numerous industries, including transportation, industrial, building and construction, telecommunication, consumer durables, and energy. The transportation industry is anticipated to maintain its lead during the forecast period as it is the key consumer of aluminum die casting. Aluminum die cast parts are used in general road and sports road transportation, heavy vehicles, and aerospace sectors.

Asia Pacific is anticipated to register the fastest growth rate over the forecast period. Progress in manufacturing activities in developing economies of the region is propelling the product demand. For instance, in September 2020, Hyundai Motor began production at its second plant in Vietnam. This is expected to increase the production capacity by 140.0%.

Rising product demand has led to increased competitive rivalry in the market. Major market players are set to gain a competitive edge and recover their losses from the previous year owing to the pandemic, by means of strategic initiatives such as mergers & acquisitions in addition to increasing production capacities.

#AluminumDieCasting #Manufacturing #MetalCasting #AutomotiveIndustry #Aerospace #Engineering #IndustrialProduction #SupplyChain #MaterialScience #TechnologyTrends #CompetitionAnalysis

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Aluminum Extrusion Market - Emerging Trends, Market Players, and Environmental Considerations

The global aluminum extrusion market size is anticipated to reach USD 146.82 billion by 2030, expanding at a CAGR of 8.2% from 2024 to 2030, according to a new report by Grand View Research, Inc. Growing infrastructure and residential construction activities, particularly in the booming Asia Pacific, Latin America, and MENA regions, are poised to be major growth drivers in the coming years. Rapid urbanization, rising disposable incomes, and population surge are fueling massive investments in infrastructure and construction sectors. In the budget for 2023 - 2024, the Indian government allocated INR 16,000 crores (~USD 1931.5 million) to develop “sustainable cities of tomorrow”. Such initiatives are anticipated to transform multiple cities in India by improving their infrastructure and mobility and creating urban sustainability. There exists a substantial deficit in infrastructure investment on a global scale, prompting governments worldwide to actively address and reduce this gap. This concerted effort is anticipated to have a positive impact on this market through 2030.

Aluminum Extrusion Market Report Highlights

Shapes dominated the product segment with more than 79.0% revenue share in 2023, owing to excellent malleability properties and rising demand for aluminum shapes in prominent end-use industries

In terms of product, the rods & bars segment is expected to register a significant CAGR over the forecast period

Buildings & construction application held the largest revenue share of over 60.0% in 2023. Aluminum extrusion products find a wide range of applications in the construction sector and are anticipated to witness significant demand growth over the forecast period, owing to infrastructural developments

Increased spending on R&D activities in the automotive industry by leading players has led to a substantial spike in demand for lightweight aluminum parts in electric vehicle segment

Asia Pacific dominated the market for aluminum extrusion in 2023, owing to factors such as growing construction & automotive industry in this region due to the presence of rapidly developing economies such as China, India, and other Southeast Asian countries

In November 2023, Norsk Hydro ASA announced an agreement with Watt Electric Vehicles (WEVC), an automotive start-up in the UK, to deliver low-carbon and recycled aluminum extrusion chassis for the latter’s upcoming commercial electric vehicle to be produced from the beginning of 2025

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The construction sector’s boom is not the only driver for market expansion. Aluminum's flexibility, strength, and rust resistance make it popular application in automotive industry, especially with the changing dynamics of automotive vehicles. The booming automotive & transportation application segment is expected to drive the demand for aluminum extrusion over the coming years.

Stringent environmental regulations, particularly around carbon emissions, are driving automakers to embrace aluminum over steel. Car manufacturers face a mounting pressure to comply with laws like those from the EPA, CARB, and NHTSA, pushing them to adopt lighter and more fuel-efficient materials. Aluminum extruded parts offer an enticing solution here by significantly reducing vehicle weight, thereby lowering emissions and meeting regulatory requirements. This, in turn, is expected to reduce weight and drive significant demand for aluminum extruded parts.

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