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Aluminum Spacers Market Overview
The aluminum spacers market is growing due to their increasing use in machinery, construction, and transport.
WILMINGTON, DE, UNITED STATES, October 21, 2024 / EINPresswire / — Allied Market Research recently released 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.” The market was valued at $550 million in 2021 and is expected to reach $866.4 million by 2031, with a CAGR of 4.7% during this period.
Key Growth Drivers
The increasing need for aluminum spacers in various sectors is driving market growth. Competitive pricing and availability of raw materials contribute to this trend. However, health concerns regarding tiny aluminum particles may limit growth. Urbanization and demand for housing present new opportunities.
Market Breakdown
By Product Type
- Bendable Segment: This segment accounted for over 60% of the market share in 2021 and is expected to grow at a CAGR of 5.1% due to rising demand for double-glazed glass.
- Non-Bendable Segment: Also analyzed for its market contribution.
By End Use
- Transport Segment: Expected to grow the fastest with a CAGR of 5.3% from 2022 to 2031, driven by infrastructure development and logistics.
- Building and Construction Segment: Highlights aluminum spacers’ applications in construction.
Regional Insights
Asia-Pacific led the market in 2021 with a 40% share and is projected to grow at 5.3% through 2031, mainly due to extensive aluminum use in packaging and construction, particularly in China. Other analyzed regions include North America, LAMEA, and Europe.
Leading Companies
Key players include Allmetal, Inc., ALU-PRO Srl, Avantus Aerospace, among others. They focus on new product launches, expansions, and partnerships to enhance their market position.
About Allied Market Research
Allied Market Research (AMR) is based in Portland, Oregon, offering top-quality market research and business consulting services. AMR aims to assist clients in making strategic decisions for sustainable growth.
Contact: David Correa, Allied Market Research, +1 800-792-5285
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