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Global Aluminum Slugs Market 2018 by Manufacturers, Regions, Type and Application, Forecast to 2023
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In the coming years there is an increasing demand for aluminum slugs in the regions of North America and Europe that is expected to drive the market for more advanced aluminum slugs. Increasing of consumer goods fields expenditures, more-intense competition, launches in introducing new products, increasing of spending on personal consumption, retrofitting and renovation of old technology, increasing adoption of aluminum slugs in developing countries will drive growth in global markets.
Globally, the aluminum slugs industry market is low concentrated as the manufacturing technology of aluminum slugs is relatively matures than some high-tech equipment. And some enterprises, like Ball Corp, Alucon, Talum and Aluminium Werke Wut?schingen etc. are well-known for the wonderful performance of their aluminum slugs and related services. At the same time, Asia-Pacific, occupied 54.60% sales market share in 2017, is remarkable in the global aluminum slugs industry because of their market share and technology status of aluminum slugs.
The consumption volume of aluminum slugs is related to downstream industries and global economy. As there will always be some uncertain in the global economy in the following years, the growth rate of aluminum slugs industry may not keep that fast. But it is surely forecasted that the market of aluminum slugs is still promising.
The product average price declined in the past few years due to the technology development, the average price will keep the trend in the few future years due to increasing mature manufacturing technology and lowing cost of raw materials.
The impact on the cost and availability of raw materials and certain components is uncertain due to potential supply changes. The costs of raw materials have a significant impact on the level of expenses. If the prices of raw materials and related factors such as energy prices increase, and if new companies cannot pass those price increases on to customers, their results of operations and financial condition would suffer.
With emerging economies growing faster, a strategy has been adopted by most leading vendors in the aluminum slugs market to approach these areas. GIR analysis of the aluminum slugs market indicated that Asia-Pacific would account for the highest sales in 2023, particularly in China, India and Southeast Asia. Vendors recognize the importance of this region, particularly in China, and are working towards penetrating this market by strengthening their sales and distribution networks.
Although the market competition of aluminum slugs is fierce globally, there are many enterprises can obtain considerable profit form the manufacturing and marketing of aluminum slugs and that is the reason that we believe there will also be enterprises enter this market. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.