Future Market Insights
Global Aluminum Slugs Market: Overview
Aluminum slugs of various shapes and dimensions are widely applied in manufacturing of cans, tubes, and technical parts in various industries. Further processing of proper aluminum raw materials with the help of impact extrusion produces the aluminum slugs. Furthermore, aluminum slugs are manufactured in a casting process and out of direct-extruded bars, sawn slugs are also produced. Aluminum slugs are widely used in making aluminum circle, foil, mirror and embossed sheet, and coil. These slugs are advantageous in the area of customizing shape and size, provides good tactility and flexibility, offers attractive appearance, and corrosion proof wall. With the advancement in impact extrusion technology in aluminum slug manufacturing process, various manufacturers offers to produce the products such as aerosol can, aluminum cover, collapsible tube, and aluminum bottle. These aluminum slugs’ products are extensively used in food and beverages industry, medical, cosmetics, and automotive. Such USP’s is believed to be driving the global aluminum slugs market.
Market players in the global aluminum slugs market are competing among themselves by making sizeable investments in various manufacturing processes in order to strengthen their product portfolio. Rising demand for environment-friendly or recyclable slugs over the other metal slugs is also expected to boost the global aluminum slugs market. Aluminum slugs are so popular in making aluminum tube container which is highly used in pharmaceutical packaging. This is due to the light-weight nature of aluminum alloy which saves a lot of freight and also they are easy to carry. Such properties of aluminum slugs are expected to fuel the global aluminum slugs market.
The global packaging market has introduced an extensive collection of single-serve packaging systems into the market, inferable of the growing request from the working population. Aluminum slugs play a crucial role in the packaging industry with easier, faster, safer, efficient and effective way of impact extrusion of the slug. Aluminum slugs are also eco-friendly and recyclable which gives an advantage over other types of metal slugs. They come in different sizes and can be converted to any shape for the convenience of customers. Aluminum slugs are also rust resistance and lighter which have extended the scope for aluminum slugs market. Aluminum slugs market is expected to get demand from several application segments including food & beverages industries, healthcare, paint industries, pharmaceutical, etc. where slugs are being used.
Global Aluminum Slugs- Market Dynamics:
The aluminum slugs market is expected to witness a healthy growth over the forecast period due to the rising demand for smaller and convenient slugs for extrusion. Aluminum slugs market is anticipated to be exceptionally concentrated into personal care and beauty products as their end products. Fantastic properties of aluminum slugs, for example, have an extended shelf life and a safe approach to administering a wide assortment of items. In addition, the increase in the per capita disposable income for developing economies and shift in the mindset towards convenient packaging. Rapid industrialization in the field of paint, food & beverages, etc. have seen the increment in spending to offer items by using aluminum slugs. Recyclability properties of aluminum are few of the components to be specified which can drive the development of aluminum slugs market. The increment in power rates which will expand the cost of manufacturing for aluminum directly impact the cost for slugs is the restraint hampering the market for aluminum slugs. Instability in the raw material prices of aluminum combined with stringent norms from local government is also few of the challenges faced by aluminum slugs market.
Global Aluminum Slugs- Market Segmentation:
The aluminum slugs can be segmented by shape, by application, and by end use industry.
On the basis of shape, the global aluminum slugs are segmented into:
On the basis of application, the global aluminum slugs are segmented into:
Aluminum collapsible tubes
On the basis of end use industry, the global aluminum slugs are segmented into:
Food & Beverage
Cosmetic & personal care
Electrical & electronics
Global Aluminum Slugs- Regional Overview:
The global aluminum slugs can be segmented on the basis of region such as:
Middle East & Africa
The aluminum slugs market in North America region is to remain dominant for the highest revenue growth as compared to markets in other regions. Aluminum slugs market in China and India are expected to have substantial growth in terms of revenue due to relatively large aluminum ore industry and technological advancements in these emerging economies. Furthermore, the growth of aluminum slugs market in Asia Pacific is also expected to be driven from the increasing in the spending power among consumers in the countries of these regions. Aluminum slugs market in Western Europe is expected to witness above average growth, with Germany, France, and the U.K. In Latin America, Brazil and Mexico saw a good presence for aluminum slugs market and is expected to grow at a significant rate. The aluminum slugs market in the Middle East & Africa region is expected to witness an augmentation in the revenue contribution from sales in South Africa and GCC.
Global Aluminum Slugs – Key players:
Few of the key players in the aluminum slugs market 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.
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