The growth of aluminum industries in China and Russia is likely to pose a challenge to the Saudi market.
WILMINGTON, DELAWARE, UNITED STATES, February 23, 2024 /EINPresswire.com/ — The aluminum market in Saudi Arabia saw substantial growth in 2018, generating $1.7 billion in revenue. According to the report by Allied Market Research, this trend is expected to continue, with a projected revenue of $2.4 billion by 2026. Key factors fueling this growth include the development of the transport industry, technological advancements, and supportive government regulations. However, the growth of aluminum industries in China and Russia is likely to pose a challenge to the Saudi market. On the other hand, a rising focus on recycling and reusing aluminum scrap presents new opportunities for growth in the coming years.
Download Sample Pages of Research Overview: https://www.alliedmarketresearch.com/request-sample/A06119
In terms of processing methods, extrusion was the dominant segment in 2018, accounting for nearly one-third of the total market share, and is expected to maintain its lead in terms of revenue throughout the forecast period. However, the casting segment is anticipated to exhibit the highest compound annual growth rate (CAGR) of 7.8% from 2019 to 2026. The report also examines other segments such as forging, pigments & powder, rods & bar, and flat rolled.
In the series category, the series 1 segment held the highest market share in 2018, with more than one-fifth of the total share, and is expected to remain the top contributor until 2026. Conversely, the series 7 segment is projected to witness the highest CAGR of 8.5% during the forecast period. The report also delves into other series such as series 2, series 3, series 4, series 5, series 6, series 8, and series 9.
Regarding end-use industries, the electrical segment was the largest contributor to the market in 2018, accounting for over one-fourth of the total market share. This segment is expected to maintain its dominance through 2026. However, the foil & packaging segment is forecasted to register the highest CAGR of 7.3% from 2019 to 2026. The report also examines other end-use segments such as building & construction, transportation, industrial, consumer durable, and others.
Leading players in the market include Aboura Metals, Al TaiseerAluminium Company, Al Saudia metal scrap trading LLC, Aluminum Product Company (Alupco), Alcoa Corporation, Nesma Recycling Co. Ltd., Maaden – Saudi Arabian Mining Company, Star Steel Factory Co. Ltd., Saudi Aluminium Recycling Company Ltd., and Tawfiq Al Saleh Trad. Co.
Interested in Procuring This Report? Visit Here: https://www.alliedmarketresearch.com/saudi-arabia-aluminum-market/purchase-options
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
David Correa
Allied Market Research
+1 5038946022
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn
