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Aluminum Spacers industry Size
The market is driven by the growing use of aluminum spacers in various sectors like machinery, construction, and transport as a substitute.
WILMINGTON, DE, UNITED STATES, October 21, 2024 /EINPresswire / -- Allied Market Research recently published an in-depth report on the global Aluminum Spacers Market , titled“Aluminum Spacers Market by Product Type (Bendable, Non-Bendable), by End Use (Transport, Building and Construction, Machinery and Equipment): Global Opportunity Analysis and Industry Forecast, 2021-2031.” According to the report, the market was valued at $550.0 million in 2021 and is projected to grow to $866.4 million by 2031, with a CAGR of 4.7% over the forecast period. The analysis includes top segments, market trends, value chain dynamics, investment opportunities, regional insights, and competitive scenarios.
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Key Growth Drivers
The market is driven by the growing use of aluminum spacers in various sectors like machinery, construction, and transport as a substitute for other metals due to its favorable properties. Increased competition among manufacturers and the availability of cheaper raw materials have further fueled market expansion. However, health concerns related to inhaling tiny aluminum particles, which can cause respiratory issues and skin irritation, may hinder growth. Despite these challenges, rising urbanization, increased demand for housing infrastructure, and technological advancements are expected to unlock new opportunities in the coming years.
Market Breakdown by Product Type
- Bendable Segment: In 2021, this segment held the largest market share, contributing more than three-fifths of the total market. The bendable segment is projected to maintain its dominance through 2031, with the highest CAGR of 5.1%. The increasing demand for double-glazed insulating glass in residential and commercial sectors is driving this growth.
- Non-Bendable Segment: This segment was also analyzed, providing insights into its contribution to the overall market.
Market Breakdown by End Use
Transport Segment: This segment is anticipated to experience the fastest growth, with a projected CAGR of 5.3% from 2022 to 2031. Transport activities, infrastructure development, and the logistics industry are key factors contributing to this trend. The segment accounted for nearly two-fifths of the market share in 2021.
Building and Construction Segment: Also analyzed in the report, this segment highlights the use of aluminum spacers in various construction applications.
Regional Insights
- Asia-Pacific: The region held the largest share of the global market in 2021, accounting for almost two-fifths of the total market. Asia-Pacific is expected to continue leading the market with a CAGR of 5.3% through 2031, driven by the extensive use of aluminum in industries like packaging and construction, particularly in China. Other regions analyzed in the report include North America, LAMEA, and Europe.
Leading Market Players
Key players in the aluminum spacers industry include Allmetal, Inc., ALU-PRO Srl, Avantus Aerospace, AM Industries, Inc., Bokers Inc., Fenzi North America, Keystone Electronics Corp., LISI Aerospace, Jinsheng New Energy Technology Group, and Phoenix Specialty, among others. These companies are engaging in strategic moves like new product launches, expansions, and partnerships to strengthen their market positions.
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About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.