Implementation Of IoT technology To Aid The Growth Of The Global Alumina And Aluminum Production And Processing Market

Global metal companies are adopting and implementing the IoT technology to improve their efficiencies and drive productivity. IoT connects people, machines, and services enabling the flow of information and real-time decision, and is a major trend witnessed in the global alumina and aluminum production and processing market.

The alumina and aluminum production and processing market consists of sales of alumina and aluminum by entities (organizations, sole traders and partnerships) primarily engaged in alumina extraction primarily from bauxite ore, producing aluminum from alumina, recovering aluminum from scrap or dross, refining aluminum by any process, alloying purchased aluminum and rolling, drawing, casting, extruding and alloying aluminum and aluminum-based alloy into primary forms such as bar, foil, pipe, plate, rod, sheet, tube, wire.

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The alumina and aluminum production and processing market is expected to reach a value of nearly $1.2 trillion by 2022, significantly growing at a growth rate of around 11% during the forecast period.  The growth in the alumina and aluminum production and processing manufacturing market is due to increase in new vehicle sales in rapidly developing countries such as China and India owing to rise in disposable income, growing population.

However, the market for alumina and aluminum production and processing is expected to face certain restraints from several factors such as interest rate increases, and workforce safety issues.

With increase in positive economic outlook, improved earning capacity, and emerging markets growth, the scope and potential for the global alumina and aluminum production and processing market is expected to significantly rise in the forecast period.

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The metal and mineral manufacturing market, of which the alumina and aluminum production and processing market is a segment, includes sales of metals and minerals by entities (organizations, sole traders and partnerships) that refine and/or smelt ferrous and nonferrous metals from ore, pig or scrap, using electrometallurgical techniques.

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The alumina and aluminum production and processing market report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast growth by geography. It places the market within the context of the wider metal and mineral manufacturing market, and compares it with other markets.

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