Enroll Course

100% Online Study
Web & Video Lectures
Earn Diploma Certificate
Access to Job Openings
Access to CV Builder



online courses

India Aluminum Market: Trends, Competition, and Industry Size Forecasts

India Aluminum Market . 

India Aluminum Market is anticipated to register a high CAGR during the forecast period. Chemical element aluminum has the atomic number 13 and the symbol Al. Aluminum has a density that is around one-third that of steel, which is lower than that of most common metals. It has a strong affinity for oxygen and when exposed to air, an oxide layer develops to protect the surface. Aluminum has a color that is similar to silver and has a high light-reflecting capacity. It is ductile, soft, and non-magnetic. Aluminum is the tenth most prevalent element in the universe and has just one stable isotope, 27Al, which is also quite abundant. In radio dating, 26 Al's radioactivity is used.

A silver-white, lightweight metallic element, aluminum accounts for 7% of the earth's crust. It is just one-third the weight of steel. Due to its advantageous qualities and traits, such as its malleability, ductility, ease of casting, good corrosion resistance, and durability, it is the most abundant material. It is mined as bauxite ore and mostly occurs as alumina when combined with oxygen. With a share of around 5.3% of the world's output, India is the fourth-largest producer of aluminum. It benefits from having about 10% of the world's bauxite deposits and a developing aluminum industry. It is anticipated that domestic demand is expected to rise by 8–10%.

For More Information@ 
https://www.techsciresearch.com/report/india-aluminum-market/15108.html

Government Initiatives in the Infrastructure and Construction Sector

The demand for infrastructure in India is tremendous. The government of India has authorized Real Estate Investment Trusts (REITs) to let foreign investors access the country's real estate sector in an effort to hasten the development of India's infrastructure. The Indian market, therefore, offers a USD 19.65 billion opportunity in the upcoming years. The government aims to modernize the building industry's technologies through the Global Housing Technologies Challenge.

The government has set aside USD 29.2 billion for the Smart-Communities program, which seeks to build sustainable communities of the highest caliber possible. With USD 16.5 billion in investments, 75% of the projects were completed by June 2020. The HRIDAY program, which encourages the expansion of historic cities, has received USD 16.5 million from the national government. AMRUT and Pradhan Mantri Awas Yojana (PMAY), a national housing program, among other government programs, are predicted to have a considerable beneficial influence on the infrastructure and building industries. Additionally, Union Finance Minister Nirmala Sitharaman announced in her budget speech for 2023–2024 that the Central Government intended to establish an Urban Infrastructure Development Fund with an annual budget of USD 1221.78 million that is used to build infrastructure in Tier-2 and Tier-3 cities across the country. One of the projects, the government expects to support with USD 2831.48 million in 2023–2024 is the National Capital Region Transport Corporation, which is implementing the Delhi–Meerut rapid transit project. This should have a number of positive effects on the Indian aluminum market, and the CAGR should continue to be high.

Recent Developments:

  • In accordance with Budget 2023, the government intends to establish the Urban Infrastructure Development Fund (UIDF) in order to construct urban infrastructure in Tier 2 and Tier 3 cities. An annual budget allocation of USD 1216.05 million is anticipated for this fund. They also want to promote private investment in infrastructure building.
  • The automobile sector received cumulative equity Foreign Direct Investment (FDI) inflow of about USD 33.53 billion between April 2000-June 2022.
  • By 2023, the Indian government anticipates that domestic and international investments in the vehicle industry would total between USD 8 and USD 10 billion.
  • The Indian government announced a PLI scheme for automobiles and auto parts valued at USD 3.49 billion in September 2021.
  • The Government of India and the Indian automobile industry together launched the Automotive Mission Plan 2016–26 to lay the foundation for the sector's growth.
  • The Indian automobile sector seeks to five-fold its car exports between 2016 and 2026. The total number of automobiles exported from India in 2022 was 5,617,244. In the upcoming years, this is anticipated to increase in the market for aluminium in India.
  • India spent USD 777.73 billion on infrastructure in 2022 to ensure the stability of the country.
  • In November 2021, India, the US, Israel, and the UAE organized a new quadrilateral economic summit to focus on projects to enhance regional infrastructure and advance bilateral collaboration.
  • Mr. Narendra Modi, the prime minister, presented an approximately USD 1330 billion master plan for multi-modal connectivity in October 2021 with the aim of developing infrastructure to lower logistic costs and stimulate the economy.
  • Through its "National Infrastructure Pipeline," India plans to invest USD 1.4 trillion in infrastructure over the next five years. Approximately, 13% of the total FDI inflows of USD 81.72 billion in 2021 were attributable to operations connected to infrastructure. India is anticipated to build 43,000 dwellings each day till 2022 in order to achieve the objective of providing housing for everyone by that time. As of August 22, 2022, the Pradhan Mantri Awas Yojna plan had approved 122.69 lakh dwellings, started 103.01 lakh homes, and completed 62.21 lakh homes. (PMAY-Urban).
  • The government approved the building of a USD 122.27 million shared railroad bridge, across the Brahmaputra River, close to the current Saraighat Bridge in Guwahati in September 2022.
  • In Indore, Madhya Pradesh, Mr. Nitin Gadkari, Minister of Road Transport and Highways, laid the cornerstone for six NH projects for a total USD 287.89 million in August 2022.
  • Between April 2000 and June 2022, there was a total of USD 26.22 billion and USD 28.64 billion in foreign direct investment (FDI) in the construction (infrastructure) and construction development (townships, housing, built-up infrastructure, and construction development projects) sectors, respectively.
  • In November 2021, the Asian Development Bank (ADB) approved a loan for USD 250 million to support the National Industrial Corridor Development Program (NICDP). A portion of the USD 500 million loan for the development of 11 industrial corridors linking 17 states is being used for this project.
  • In December 2021, Hindalco Industries Limited and Norsk Hydro ASA agreed to acquire each other's Indian Al extrusions businesses. Hindalco will receive an integrated factory in Andhra Pradesh, a skilled staff, and experience in value-added, bespoke goods with this transaction. Moreover, this action is expected to boost the business' position in South India.

 

  • Railways: There are multiple areas in railways itself where the demand for aluminum is increasing.
  • Station Infra: One element of Railways' infrastructure that will be updated is the foot-over and rail-over bridges. This would lead to a sharp increase in demand for the Ferritic series.
  • Coaches: Railways plans to construct 10,000 coaches annually over the next four to five years. In the near future, there will probably be an increase in demand for aluminum.
  • Moreover, regulations laid down by Indian Railways stated that all new passenger coaches must be made of aluminum by 2020. In addition, Indian Railways planed to buy more coaches, going from 2,500 per year in 2018 to 5,000 per year in 2020.
  • Train18 / Vande Bharat Express: The anticipated replacement for Rajdhani and Shatabdi is Train 18, which has a top speed of 160 kmph. The components of this train are anticipated to be built of aluminum.
  • Housing: Owing to programs such as "housing for all" and "Pradhan Mantri Awas Yojana," which frequently employs aluminum in home furnishings and appliances, the usage of aluminum is anticipated to increase in the upcoming years.
  • Kitchenware: Even now, about half of all aluminum usage still comes from the cookware and durables business. As more Indians get access to discretionary income, the demand for kitchenware is predicted to rise.

Download Free Sample Report@ https://www.techsciresearch.com/sample-report.aspx?cid=15108

Market Segmentation

The India Aluminum Market is divided into product type, alloy type, processing method and application. Based on the product type, the market is divided into mill finished, anodized, powder coated, sheets & foils, cable & wire, and others. Based on alloy type, the market is segmented into wrought alloys and cast alloys. Based on the processing method, the market is further split into flat rolled, castings, extrusions, forgings, pigments & powder and rod & bar. Based on application, the market is further segmented into automotive & transportation, aerospace & defense, marine, building & construction, and others.

Market Players

Major market players in India’s Aluminum market are Bharat  Aluminum Company Ltd, Hindalco Industries Limited, National Aluminium Company Limited, Jindal Aluminium Limited, Vedanta Limited, Gujarat Foils Limited, Alcoa India Private Limited, Universal Prime Aluminum Limited, Sudal Industries Limited, and Synthiko Foils Limited.

Report Scope:

In this report, the India Aluminum Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

India Aluminum Market, By Product Type:

  • Mill Finished
  • Anodized
  • Powder Coated
  • Sheets & Foils
  • Cable & Wire
  • Others

India Aluminum Market, By Alloy Type:

  • Wrought Alloys
  • Cast Alloys

India Aluminum Market, By Processing Method,

  • Flat rolled
  • Castings
  • Extrusions
  • Forgings
  • Pigments & Powder
  • Rod & Bar

India Aluminum Market, By Application:

  • Automotive & Transportation
  • Aerospace & Defense
  • Marine
  • Building & Construction
  • Others

India Aluminum Market, By Region:

  • North
  • South
  • West
  • East

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the India Aluminum Market.

Available Customizations:

Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Contact
Mr. Ken Mathews
708 Third Avenue,
Manhattan, NY,
New York – 10017
Tel: +1-646-360-1656
Email: [email protected]
Website: https://www.techsciresearch.com

Related Courses and Certification

Full List Of IT Professional Courses & Technical Certification Courses Online
Also Online IT Certification Courses & Online Technical Certificate Programs