According to a research survey conducted by ChemView Consulting, in 2022, the Global Aluminum Slugs Market was worth US$ 5.0 Bn and is expected to grow at a CAGR of 7.3% over the forecast period. The market is expected to hit US$ 8.9 Bn by 2030 end.
Aluminum Slugs are little bits of aluminum formed by cutting or punching. The primary application for these slugs is to facilitate transportation, storage, and handling in regions where space is limited, such as inside a tube, canister, or bottle.
Because of their low-density features, they are also employed in technical parts requiring thin form factors with strong strength characteristics, such as speaker cones, window channels, and glazing beads.
Aluminum slugs are also corrosion resistant and lighter, which has broadened the market for aluminum slugs. Aluminum slugs market demand is projected to come from various application categories such as food and beverage, healthcare, paint industries, pharmaceutical, and so on.
Aluminum Slugs Market 2017-2030: Report Key Highlights:
- Detailed information on factors that will assist Global Aluminum Slug’s growth during the next eight years
- Assessment of the historical and current Global Aluminum Slugs Market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
- The growth of the markets across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
- Segment-wise, country-wise, and region-wise market analysis
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
For More Details Visit Our Report Page: https://chemviewconsulting.com/reports/aluminum-slugs-market/
Key Takeaways
By Type: The round type category accounted for the largest share in 2021 because of its many uses, such as automotive components and textiles.
Round Aluminum Slugs are made of high-quality aluminum alloy that is perfect for use in the automobile sector. Aluminum slugs have a smooth surface finish and are commonly utilized in industries such as electrical & electronics, building items, etc. They are extremely long-lasting.
By Application: The rising demand for fast food, packaged food, and beverages resulting in increased usage of aerosols is expected to drive the demand for aluminum slugs during the forecast period.
Aluminum Slugs are mainly used in Aerosol cans that come with an attached top which prevents leakage & breakage of any type, protecting the product from corrosion caused by air or moisture.
By Region: The aluminum slugs market in North America is expected to continue dominating revenue growth, outpacing markets in other regions.
Due to strong demand from end-use industries such as automotive, electrical & electronics, and construction items, North America was the biggest market for Aluminum Slugs in 2019 and is predicted to expand at a high CAGR during the forecast period.
Competition Summary
The market for aluminum slugs is extremely fragmented, with the top producers accounting for around 50.0% of the global market.
Key companies covered in the market study are Ball Corp, Neuman Aluminium Austria GmbH, Impol, d.o.o., Aluminium-Werke Wutöschingen AG & Co.KG, Jindal Aluminium Limited, Haomei Aluminum Co., Ltd., Nansen Industry Co., Ltd., Alucon PCL, Rheinfelden Semis Gmbh & Co. Kg, Aluman Sa.
Segments Covered in Report
By Type:
- Flat
- Round
- Rectangular
By Application:
- Aerosol cans
- Aluminum collapsible tubes
- Automotive cans
- Technical parts
- Others
By End-Use:
- Food & Beverage
- Pharmaceutical
- Cosmetic & personal care
- Automotive
- Electrical & electronics
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
About ChemView Consulting’s Packaging Domain
ChemView Consulting’s Packaging domain provides unique, reliable, and in-depth analysis of the packaging business with the help of its in-house and experienced analysts and subject matter experts. The comprehensive coverage includes Packaging Equipment’s & Materials, Advanced Packaging, Industrial Packaging, Food & Beverage Packaging, Household Packaging, Personal Care and Pharmaceutical Packaging, and ICT Packaging. In addition, for developing – “The Future Growth Plan,” our research studies serve as market reference guides for manufacturers, research institutes, channel partners, and government agencies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and consulting company serving worldwide Chemicals & Materials, Food & Beverage, Oil & Gas, Clean Energy, and Packaging clients. ChemView Consulting serves clients in approximately 100 countries, with its office in the U.S. and delivery centers in India.
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