𝗟𝗮𝘁𝗶𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 𝗔𝗹𝘂𝗺𝗶𝗻𝗶𝘂𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 𝗚𝗿𝗼𝘄𝘁𝗵 𝗗𝗿𝗶𝘃𝗲𝗻 𝗯𝘆 𝗞𝗲𝘆 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝗦𝘂𝘀𝘁𝗮𝗶𝗻𝗮𝗯𝗶𝗹𝗶𝘁𝘆

𝗧𝗵𝗲 𝗟𝗮𝘁𝗶𝗻 𝗔𝗺𝗲𝗿𝗶𝗰𝗮 𝗔𝗹𝘂𝗺𝗶𝗻𝗶𝘂𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 is projected to reach USD 7.37 billion by 2030 at a CAGR of 10.1% from 2024 to 2030. The market includes the production, distribution, and application of aluminum, which is widely used in aerospace, automotive, construction, packaging, and electronics sectors. Its lightweight properties enhance efficiency in transportation. The production process involves extracting aluminum from bauxite ore using the Bayer process and electrolysis. Technological advancements and recycling initiatives are boosting sustainability and supporting industry growth.

𝗔𝗳𝗿𝗶𝗰𝗮 𝗔𝗹𝘂𝗺𝗶𝗻𝗶𝘂𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝗲𝘁 𝗳𝗼𝗿 𝗦𝗶𝗴𝗻𝗶𝗳𝗶𝗰𝗮𝗻𝘁 𝗚𝗿𝗼𝘄𝘁𝗵, 𝗣𝗿𝗲𝗱𝗶𝗰𝘁𝗲𝗱 𝘁𝗼 𝗛𝗶𝘁 𝗨𝗦𝗗 𝟲.𝟱𝟯 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 𝗯𝘆 𝟮𝟬𝟯𝟬

The 𝗔𝗳𝗿𝗶𝗰𝗮 𝗔𝗹𝘂𝗺𝗶𝗻𝗶𝘂𝗺 𝗠𝗮𝗿𝗸𝗲𝘁 , valued at USD 3.59 billion in 2024, is projected to grow to USD 6.53 billion by 2030, with a CAGR of 8.9% from 2024 to 2030. This market encompasses the production, distribution, and application of aluminum, a lightweight, silvery-white metal that makes up around 8% of the Earth's crust. Known for its low density, high strength, and natural corrosion resistance, aluminum is widely used in various industries, especially transportation. The aluminum production process involves extracting bauxite ore through the Bayer process and electrolysis. Technological advancements and improved recycling techniques have enhanced production sustainability, supporting market growth and reducing environmental impact.

Green Hydrogen: A Promising Future of Renewable Energy

Green hydrogen is emerging as a key player in the renewable energy landscape, offering a sustainable alternative to fossil fuels. Produced using renewable energy sources like wind and solar to power water electrolysis, green hydrogen generates zero emissions. It holds immense potential for decarbonizing industries such as transportation, power generation, and heavy manufacturing.

Read the complete blog : https://www.nextmsc.com/blogs/research-on-renewable-energy-market