iCrowd Newswire – Jul 20, 2020
The Saudi Arabia aluminium market is estimated to grow at a CAGR of 6.8% during the forecast period 2019-2026. As per the detailed market study, the Saudi Arabia aluminium industry was valued $1.7 billion in the year 2018 and is anticipated to reach $2.4 billion by the end of the year 2026.
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Saudi Arabia is a major exporter of aluminium worldwide. The Saudi Arabian aluminium industry is witnessing an immense growth from the last few years after the country shifted its focus towards a non-oil economy. The aluminium companies present in Saudi Arabia are intensively working towards becoming the largest and efficient integrated organizations in the world. In the year 2016, Saudi Arabia exported ~984 tonnes of alumina and the year 2017 witnessed a drop in export volume to ~878 tonnes. The decline in export quantity is attributed to increased domestic consumption of alumina in the region.
The Saudi Arabia aluminium industry is driven by various growth factors such as growth of the transportation industry; as aluminium us largely used in rails, cars, motor vehicles and aircrafts due to its light-weight properties. Favourable government policies with a focus to support joint ventures and foreign investments also drives the market growth. Moreover, technologically advanced processing methods and usage of equipment by the regional manufacturers and processors result in high efficiency and therefore positively impacts the regional market growth over the forecast period. Whereas, increasing demand of products from Russia and China in the international market may act like a restraining factor for the Saudi Arabia aluminium industry. On the contrary, growth in usage of aluminium in emerging economies and increase in demand for recycled aluminium products will offer lucrative opportunities for the market players operating in the Saudi Arabia aluminium market.
Segmentation Overview of the Saudi Arabia Aluminium Market
The Saudi Arabia aluminium market is segmented into type, processing method, series, and end use industry. These market segments are further categorized into various sub-segments to study the market in detail considering geographical dynamics and growth determinants.
The Type Segment of the Saudi Arabia Aluminium Market is Sub-Segmented into:
- Primary Aluminium
- Secondary Aluminium/Scrap
The Processing Method Segment of the Saudi Arabia Aluminium Market is Sub-Segmented into:
- Flat Rolled
- Rods & Bar
- Pigments & Powder
The Series Segment of the Saudi Arabia Aluminium Market is Sub-Segmented into:
- Series 1
- Series 2
- Series 3
- Series 4
- Series 5
- Series 6
- Series 7
- Series 8
- Series 9
The End Use Industry Segment of the Saudi Arabia Aluminium Market is Sub-Segmented into:
- Foil & Packaging
- Consumer durable
- Building & Construction
- Others (Machinery & Equipment)
Competitive Insights of the Saudi Arabia Aluminium Market
Tawfiq Al Saleh Trad. Co., Star Steel Factory Co. Ltd., Saudi Aluminium Recycling Company Ltd., Nesma Recycling Co. Ltd., Aluminum Product Company (Alupco), Alcoa Corporation, Al Taiseer Aluminium Company, Al Saudia metal scrap trading LLC and Aboura Metals are some major key players included in the research study of the Saudi Arabia Aluminium Market.
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Keywords: Saudi Arabia Aluminium Market