Portland, OR, June 10, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the Brazil aluminum market garnered $2.2 billion in 2019, and is estimated to generate $4.1 billion by 2028, registering a CAGR of 4.4% from 2021 to 2027. The report provides a detailed analysis of changing market dynamics, key segments, value chain, top investment pockets, regional scenario, and competitive landscape.
Growth in the transport industry, technological advancements, rapid development & urbanization in emerging economies, and growth in aluminum demand from various end user industries such as foil & packaging drive the Brazil aluminum market. However, fluctuation in prices of raw materials, stringent government regulations toward usage of energy, and increase in substitutes such as carbon fiber limit the market growth. On the other hand, rise in demand for recycled aluminum products and growth in usage of aluminum in the country present new opportunities in the next few years.
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Covid-19 Scenario:
- The covid-19 pandemic le to suspended operation in end using industries including building & construction, aerospace & automotive, consumer goods, and machinery & equipment. This in turn declined the demand for aluminum in the province.
- However, as the COVID-19 situation is still no better for Brazil due to large number of cases being reported every day. Many sectors have resumed their operations where as many are still suspended.
The report provides detailed segmentation of the Brazil aluminum market based on processing method and end-user industry.
On the basis of end use, the foil & packaging segment accounted for the largest market share in 2019, contributing to nearly two-fifths of the total market share, and is projected to continue its leadership status during the forecast period. However, the transportation segment is estimated to maintain the largest CAGR of 5.3% from 2020 to 2027.
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On the basis of processing method, the extrusions segment contributed to the largest share in 2019, accounting for nearly one-third of the Brazil aluminum market, and is estimated to maintain its lead position during the forecast period. On the other hand, the pigments and power segment is expected to witness the highest CAGR of 5.4% during the forecast period.
Leading players of the Brazil aluminum market analyzed in the research include Serviço E Comercio Ltd., Hydro Extrusion Brasil SA, Alcan Alumina Ltd., Alcoa Aluminio SA, CBA-Companhia Brasileira De Aluminio, Elfer Industria, and Norsk Hydro Do Brasil Ltd.
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