Aluminum Slugs Market: Overview

  • Aluminum slugs are blanks or pieces of bar stock that are converted into finished parts through various machining processes. They are punched out of self-produced rotary caster strip and roughened by means of vibration or shot blasting. Aluminum slugs are widely used as metal extrusion blanks in the production of collapsible tubes. They are available in various sizes and shapes such as round, rectangular, oval, and other special shapes. Aluminum slugs are recyclable and eco-friendly.
  • Aluminum is a light weight material. Hence, it is widely employed in various automobile components. Aluminum slugs are machined to produce critical automobile components such as clamps for hydraulic hoses, parts for braking systems, parts in clutches, and parts for air bag systems. Demand for lightweight aluminum components derived from aluminum slugs is gaining momentum, led by the increase in popularity of electric cars. Aluminum products offer properties such as impermeability to light, smooth and clean surface, and resistance to corrosion and chemical effects. Therefore, aluminum is a preferred material for packing drugs and pharmaceuticals in the pharmaceutical industry. It is used in pharmaceutical and cosmetic industries to pack drugs, medical creams, and sprays. Aluminum slugs are used as blanks to manufacture pressure vessels, cartridges, aluminum bottles, cans, cups and ice buckets, cigar tubes, etc. 

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Key Drivers of Aluminum Slugs Market

  • The global aluminum slugs market is expected to expand significantly owing to the rise in demand for convenient and smaller slugs in the extrusion process
  • Aluminum slugs are being increasingly used in the food & beverages industry in the production of aluminum cans for canning juices, beverages, and perishable food-stuffs such as tuna, sardines, salmons, baked beans, lentils, vegetables, fruits, and mushrooms
  • Increase in demand for ready-to-eat canned food among young people is expected to drive the food & beverages industry. This, in turn, is anticipated to boost the sales of aluminum slugs used to make aluminum cans in the canning industry.
  • Rise in demand for beauty and personal care products is likely to drive the global aluminum slugs market during the forecast period, as aluminum slugs are mostly used in beauty and personal care products. Beneficial properties of aluminum slugs, such as longer shelf life, are expected to drive the demand for aluminum slugs.
  • Rise in disposable income in emerging economies and the increase in demand for convenient packaging are expected to boost the global aluminum slugs market
  • Aluminum slugs are used in the manufacture of food & beverages, paints, and others. Increase in industrialization, especially in sectors such as food & beverages, paints, and others, is projected to drive the global aluminum slugs market
  • Recyclability is one of the major properties of aluminum. This is anticipated to boost the aluminum slugs market during the forecast period. 

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Volatility of Raw Materials Likely to Hamper Market

  • Increase in cost of slugs due to the increase in power rates and volatile prices of aluminum are key factors estimated to hamper the aluminum slugs market 

North America Expected to Hold Large Share of Global Aluminum Slugs Market

  • North America is anticipated to dominate the global aluminum slugs market in the near future owing to the high per capita consumption of aluminum products
  • The aluminum slugs market in North America is estimated to expand at a significant pace during the forecast period. Asia Pacific accounts for key share of the global aluminum slugs market due to globalization and rapid industrialization in developing countries in the region.
  • China and India are the leading automobile manufacturers in Asia Pacific. This creates high demand for semi-finished aluminum products such as aluminum slugs.
  • The aluminum slugs market in emerging countries such as China and India is estimated to expand substantially owing to the large technological advancements and rapidly growing aluminum industry in these countries
  • The aluminum slugs market in Europe, Asia Pacific, Latin America, Brazil, and Mexico is projected to expand at a rapid pace during the forecast period
  • The aluminum slugs market in Middle East & Africa is also likely to expand at the steady pace during the forecast period

Key Players in Market

The aluminum slugs market is highly fragmented, with the top manufacturers accounting for approximately 45% to 50% share of the global market. Key players operating in the aluminum slugs market include:

  • Ball Corporation
  • Fuchuan Metal
  • Fried. v. Neuman GmbH
  • Aluminium Rheinfelden GmbH
  • Jindal Aluminium Limited
  • Impol Group
  • Aluminium-Werke Wutöschingen AG & Co. KG
  • Guangdong Haomei Aluminium Co., Ltd.
  • Aluman SA, Alucon
  • Shanghai Nansen Industry Co., Ltd. 

Global Aluminum Slugs Market: Research Scope 

Global Aluminum Slugs Market, by Application

  • Food & beverages
  • Automotive
  • Cosmetics & Personal Care

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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