NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2008/03/11 - The US aluminum industry, the fourth largest industry in the world, accounts for 16% of the world supply and is growing rapidly because of high domestic consumption and strong associated industries.
Metal industry is the backbone of all industries, be it infrastructure, physical plants and facilities, or heavy industry and consumer goods. And aluminum, being a multi-purpose element with innumerable benefits over other metals, is essential for various industries. Countries all over the world are exploiting aluminum deposits to infuse growth in their industrial segment. Specifically the US is strengthening the position of its aluminum industry, the world’s fourth largest industry in terms of annual primary production, by paying adequate attention on efficient production technologies and government support and hence, it accounts for over 16% of the global supply, which is equal to 8 Billion pounds of metal. Considering such high growth potential, RNCOS, a leading market research firm, has come up with its new report, “US Aluminum Market Analysis”, containing vital information about the industry.
The study has identified that the US accounts for around 9% market share worldwide, which is quite significant at the country level. The RNCOS research has given an insight into how other industries are contributing to the growth of the aluminum sector by focusing on their current growth and future prospects. Automobile, Packaging, Building and Construction industries have been identified by the research as the largest aluminum consumers in the country and thus, benefiting the aluminum industry.
The RNCOS report has focused on impact of the rapidly growing consumer electronics market on the US aluminum industry. Growth in the consumer electronics has opened new avenues for the aluminum industry, like recycling, and making lightweight and durable metal. It is apparent that the demand for good quality aluminum is rising in the country, however, the cost structure, which includes energy and labor industries, is obstructing to fulfill this demand.
An analysis is incomplete without a thorough discussion on each segment of the industry, thus, “US Aluminum Market Analysis” has incorporated a detailed study on import and export trends, involvement of other industries in the progress of aluminum industry, new avenues for growth, challenges for the industry, government support and future outlook.
The report has examined the past and current performance of the US aluminum market and looks into its future prospects. It updates on the trends and developments in the market vis-à-vis the global scenario.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.