Increase in use of aluminum spacers as a substitute for metal
in several end-use sector including machineries, building &
construction, and transport have boosted the growth of the global
aluminum spacers market.
PORTLAND, Ore., Aug. 12,
2022 /PRNewswire/ -- Allied Market Research
recently published a report, 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". As per
the report, the global aluminum spacers industry was accounted for
$550.0 million in 2021, and is
expected to reach $866.4 million by
2031, growing at a CAGR of 4.7% from 2022 to 2031. The report
offers a detailed analysis of top segments, changing market trends,
value chain, key investment pockets, regional landscape, and
competitive scenario.
Major determinants of the market growth
Increase in use of aluminum spacers as a substitute for metal in
several end-use sector including machineries, building &
construction, and transport have boosted the growth of the global
aluminum spacers market. Moreover, increase in number of
manufacturers, arrival of local players, and availability of
feedstock at reduced prices have supplemented the market growth.
However, inhalation of tiny material of aluminum metal has adverse
effects on health, such as upper respiratory infection, eye
irritation, breathing problems, cough, throat infection, and skin
irritation, which hamper the market growth. On the contrary, surge
in urbanization, rise in demand for housing infrastructure,
increase in population, modulation in construction projects, and
upgradation in technology would open new opportunities in the
future.
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Covid-19 scenario:
- The Covid-19 pandemic had a moderate impact on the market due
to disrupted supply chain and challenges in the procurement of raw
materials.
- In addition, delays in infrastructure investments and shutdown
of transportation hampered the demand for aluminum spacer.
The bendable segment dominated the market
By product type, the bendable segment held the largest share in
2021, accounting for more than three-fifths of the global aluminum
spacers market. Furthermore, the segment is expected to dominate
the market in terms of revenue by 2031. The segment would showcase
the highest CAGR of 5.1% from 2022 to 2031. This is attributed to
the fact that growing demand for double glazed insulating glasses
in residential and commercial industry. The report includes
analysis of the non-bendable segment.
Get Detailed COVID-19 Impact Analysis on the Aluminum Spacers
Market
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The transport segment to portray the highest CAGR through
2031
By end use, the transport segment is projected to manifest the
highest CAGR of 5.3% from 2022 to 2031. In addition, the segment
held the largest share in 2021, accounting for nearly two-fifths of
the global aluminum spacers market. This is attributed to the
increase in the transport, infrastructure, and logistics activities
has led to the growth of the aluminum spacers. The report includes
analysis of the building and construction segment.
Asia-Pacific held the
highest share
By region, the global aluminum spacers market across
Asia-Pacific dominated in 2021,
accounting for nearly two-fifths of the market, and is expected to
maintain the leading position during the forecast period. In
addition, the region is anticipated to showcase the highest CAGR of
5.3% during the forecast period, due to Aluminum spacers are used
widely in drinking cans due to its flexibility, high strength, and
resistivity to corrosion. These factors have put more emphasis on
manufacturing of aluminum in China. The report also includes market
analysis across North America,
LAMEA, and Europe.
Major Market Players
- Allmetal, Inc.
- ALU-PRO Srl
- AM Industries, Inc.
- Avantus Aerospace
- Bokers Inc
- Fenzi North America
- Keystone Electronics corp
- LISI Aerospace
- Jinsheng New Energy Technology Group
- Merk KGaA
- MW Industries
- Phoenix Specialty
- Nedex
- Ramapoglass
- SMC electric.
The report analyzes these key players of the global aluminum
spacers market. These players have adopted various strategies such
as expansion, new product launches, partnerships, and others to
increase their market penetration and strengthen their position in
the industry. The report is helpful in determining the business
performance, operating segments, product portfolio, and
developments by every market player.
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