Processed Alumina And Aluminum Global Market Report 2024

The processed alumina and aluminum market size has grown strongly in recent years. It will grow from $912.04 billion in 2023 to $971.22 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth observed during the historical period can be attributed to various factors, including global economic trends, fluctuations in raw material prices, technological advancements, and the performance of end-user industries.

The processed alumina and aluminum market size is expected to see strong growth in the next few years. It will grow to $1,207.86 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The projected growth in the forecast period can be attributed to factors such as sustainability initiatives, infrastructure development, the increasing adoption of electric vehicles (EVs), and the growing importance of supply chain resilience. Notable trends in the forecast period encompass the shift towards electrification and lightweighting, the utilization of advanced materials, the integration of additive manufacturing, enhanced digitalization and connectivity, and a focus on collaboration and partnerships in the industry.

The growth of the alumina and aluminum market is being primarily fueled by the increasing level of construction activity in emerging markets. The construction sector encompasses a wide range of commercial activities related to the development, maintenance, and repair of infrastructure. It stands as a substantial consumer of aluminum products, including various forms of aluminum such as alloys, sheets, and extrusions. These materials find applications in different facets of construction, including windows, doors, roofing, siding, and structural elements. The surge in construction activities directly translates to higher demand for aluminum across these applications. Emerging markets that have seen robust construction activity include countries like China, Brazil, India, Saudi Arabia, and Indonesia. For example, in February 2022, data from the UK's Office for National Statistics indicated that the annual construction sector grew by a remarkable 12.7% compared to the previous year. In the same month, the volume of monthly construction output saw a 2.0% increase, attributed to a rise in new work (3.5%). Furthermore, the construction industry's quarterly production rose by 1.0% in the fourth quarter of 2021 compared to the third quarter. This rapid growth in construction has significantly contributed to the expansion of the alumina and aluminum production and processing market.

The main categories within processed alumina and aluminum include aluminum products derived from purchased aluminum, secondary smelted and alloyed aluminum, refined alumina, and primary aluminum production. Secondary smelted and alloyed aluminum entails the recycling of aluminum scrap, converting it back into molten metal through processes like electric arc furnaces. These products have diverse applications, including usage in the automotive industry, manufacturing, and various other fields.

The processed alumina and aluminium market research report is one of a series of new reports that provides processed alumina and aluminium market statistics, including processed alumina and aluminium industry global market size, regional shares, competitors with a processed alumina and aluminium market share, detailed processed alumina and aluminium market segments, market trends and opportunities, and any further data you may need to thrive in the processed alumina and aluminium industry. This processed alumina and aluminium market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The continued growth of the automotive industry is expected to play a vital role in boosting the processed alumina and aluminum market. The automotive industry encompasses a wide array of activities related to the design, development, manufacturing, marketing, and sales of motor vehicles. Aluminum's usage in various automotive components, including engine blocks, transmission cases, and body panels, aids in enhancing fuel efficiency by reducing the overall weight of vehicles. As governments worldwide impose stricter emissions regulations, automakers are under increased pressure to enhance fuel efficiency, making aluminum a valuable material. For instance, a report published by Cox Automotive in June 2023 estimated that car sales volume is set to increase by 11.6% annually, reaching 7.65 million units in the first half of 2023. This growth is attributed to factors such as new work (1.1%) and repair and maintenance (0.8%). The number of units sold in June is predicted to increase from 1.1 million to 1.3 million. Hence, the expanding automotive industry is a key driver of growth in the alumina and aluminum market.

The geopolitical tensions are expected to have a negative impact on the alumina and aluminum production and processing market during the forecast period. These geopolitical tensions encompass consequences such as sanctions imposed on Russia, increased trade protectionism, and heightened military tensions in the Middle East. Sanctions against Russia have been implemented in response to the violation of the Chemical and Biological Weapons Control and Warfare Elimination Act of 1991. For instance, in March 2022, the U.S. Department of State and The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) intensified pressure on Russia by imposing sanctions on numerous Russian elites and their family members, while identifying specific properties associated with those individuals as blocked. Such measures have been taken in response to Russian-backed activities aimed at destabilizing the Ukrainian government and attempts to influence U.S. elections. Moreover, trade restrictions have been enacted by the U.S., including a 200 percent ad valorem tariff on aluminum articles that use any primary aluminum smelted in Russia or have been cast in Russia. Continued violence and terrorism in the Middle East and other regions around the world are also expected to negatively impact the market.

Aluminum manufacturers have begun utilizing furnace insulators to minimize energy loss during the melting process. Furnace insulators are specially designed materials with high-temperature resistance, intended for thermal insulation in furnaces. These advanced insulators can withstand temperatures up to 1200°C while experiencing minimal shrinkage of less than 1% at 700°C. They offer exceptional resistance to thermal shock, abrasion, and chemicals. Recent tests have shown that these advanced low bio-persistent fiber-based board furnace insulators outperform calcium silicate insulators by approximately 20% in terms of thermal conductivity at 600°C and 15% at 800°C. Leading companies offering furnace insulators include Morgan, Thermal Products Company, and Nichias.

Prominent companies operating in the processed alumina and aluminum market are focusing on the development of new products, particularly high-strength aluminum alloys, to expand their customer base, boost sales, and increase revenue. High-strength aluminum alloys are engineered to possess outstanding mechanical strength while retaining the lightweight properties characteristic of aluminum. For instance, in May 2023, Elementum 3D, a U.S.-based additive manufacturing company, introduced the A5083-RAM5 aluminum alloy. This product stands out due to its excellent printability, consistent mechanical properties, and impressive strength, all achieved without the need for heat treatment. A5083-RAM5 maintains uniform tensile characteristics in both horizontal and vertical orientations and in both as-printed and stress-relieved states. As-printed A5083-RAM5 exhibits a remarkable 1.8 times the yield strength of strain-hardened wrought 5083-H116, while in the stress-relieved state, it delivers an astounding 2.9 times the yield strength of wrought 5083-O, indicating that the RAM additions significantly enhance strengths over conventional 5083 products.

Major companies operating in the processed alumina and aluminum market include Hindalco Industries Ltd., China Hongqiao Group Limited, Novelis Inc, Rio Tinto, Alcoa Corporation, United Co RUSAL PLC, Aluminum Corporation of China Limited (CHALCO), Glencore International, Emirates Global Aluminum, Norsk Hydro ASA, Alcoa Corporation, Emirates Global Aluminium, Century Aluminum Company, Hindalco Industries, Alumina Limited, National Aluminium Company Limited (NALCO), China Power Investment Corporation, Alumina & Bauxite Limited, Aluminum Bahrain, Aluminum Corporation of America, KP Aluminum, Vedanta Limited, Shandong Nanshan Aluminum, Hulamin, Gulf Aluminum Rolling Mill Company, China Zhongwang Holdings, Eastern Aluminum, IBC Advanced Alloys, Tri-Arrows Aluminum, Vimetco N.V., Aludium.

The Asia-Pacific was the largest region in the processed alumina and aluminium market in 2023. Western Europe was the second-largest region in the processed alumina and aluminium market. The regions covered in the processed alumina and aluminium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the processed alumina and aluminum market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The processed alumina and aluminum market consists of sales of bauxites, aluminum hydroxide, cryolite, and corundum. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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