Development of the transport industry, technological developments, and supportive government regulations drive the growth of the Saudi Arabia aluminum market. Based on series, the series 1 segment contributed to the highest market share with more than one-fifth of the total share in 2018, and would maintain its lead status throughout the forecast period. Based on processing method, the extrusion segment contributed to nearly one-third of the total share in 2018.
According to the report published by Allied Market Research, Saudi Arabia aluminum market generated $1.7 billion in 2018, and is expected to garner $2.4 billion by 2026, growing at a CAGR of 6.8% from 2019 to 2026.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The Saudi Arabia aluminum market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the Saudi Arabia aluminum market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the Saudi Arabia aluminum market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The extrusion segment contributed to nearly one-third of the total share in 2018, and is estimated to maintain its dominant position in terms of revenue during the forecast period. However, the casting segment is expected to portray the highest CAGR of 7.8% from 2019 to 2026. The research also analyzes segments including forging, pigments & powder, rods & bar, and flat rolled.
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Some ruling enterprises in the global Saudi Arabia aluminum market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global Saudi Arabia aluminum industry include Aboura Metals, Al Saudia metal scrap trading LLC, Al Taiseer Aluminium Company, Alcoa Corporation.
The electrical segment accounted for the largest market share with more than one-fourth of the total market share in 2018, and is expected to maintain its largest contribution by 2026. However, the foil & packaging segment is estimated to maintain the highest CAGR of 7.3% from 2019 to 2026. The research also analyzes segments such as building & construction, transportation, industrial, consumer durable, and others.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the Saudi Arabia aluminum market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the Saudi Arabia aluminum market
- Post-sales support and free customization
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