Aluminium Systems Projected To Grow In The Coming Years

  • Monday, 01 February 2016 00:34

A new report by MarketsandMarkets highlighted some encouraging signs for the aluminium systems market from 2015-2020.

The aluminium systems market is considered by many to be a ripe sector for growth, in particular due to the expected economic leaps the Asia Pacific region is expected to make in the next few years. The Asia-Pacific region in 2014 accounted for the largest share, in terms of volume, of the aluminium systems market, coming in at 17151.5 kilotonnes. North America also performed strongly, accounting for a total of 25 percent of the market share. The growth till 2020 will be mainly focused on the Asia-Pacific region though, with expected compound annual growth rates (CAGR) of 5.65 percent expected until 2020, leading ultimately to a US$ 147.13 billion share.

Going forward, the market’s growth will be propelled by mainly an increasing demand from the end-use industry and technological advancements. Another intangible factor that might play into the expanding aluminium systems market could be the shift in attitude from the consumers themselves.

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