Aluminum Market in Europe to Record Robust Growth Until 2030

SEATTLE (Scrap Monster): The latest research report published by Triton- a leading market research company, states that European aluminum market is poised to witness significant growth in the forthcoming years.

According to the report, the regional aluminum market is expected to witness a Compounded Annual Growth Rate (CAGR) of 4.92% during the period from 2023 to 2030. The projected growth will be mainly led by countries such as Poland, Germany, The Netherlands, France, Italy, Spain, the United Kingdom and Norway.

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The transportation sector, especially automotive and aerospace, will emerge as one of the major contributors of aluminum demand growth in Europe during the forecast period. The widespread use of composite materials and aluminum alloys in vehicle manufacturing will help to reduce overall vehicle weight, improve fuel efficiency and reduce emissions. Also, aluminum casting and aluminum extrusion markets will witness remarkable growth until 2030.

The robust industrial activities in countries like the UK, France and Germany will drive the demand for aluminum. The industries will increasingly incorporate aluminum in order to meet sustainability and environmental goals set by the governments.