03 JULY 2017AlCircle.com
Global aluminium market projected to reach $167,277 million by 2022
Edited by : Heena Iqbal
1 min read
<p>The global aluminium market which was valued at $133,564 million in 2015 is forecasted to be valued at $167,277 million by 2022. The market will grow at CAGR of 3.3 per cent from 2016 to 2022, according to newly published report by Allied Market Research.</p>
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<p>In 2015, the transport sector was dominated the market in terms of revenue with more than one-fourth share. The segment is projected to grow further, with an anticipated CAGR of 3.6 percent.</p>
<p>This sector is driving the growth of aluminium market worldwide followed by other end user sectors such as foil & packaging. The automotive manufacturers in North America planned to increase aluminium usage in light trucks and cars by over 40 per cent by 2025. </p>
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<p>Asia-Pacific will lead the market during the forecast period. Asia-Pacific is followed by Europe. Asia-Pacific and Europe contributed more than half of the share to the global aluminium market revenue in 2015.</p>
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