Aluminum Market Report 2026

The aluminum market size has grown strongly in recent years. It will grow from $189.59 billion in 2025 to $201.61 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to growth in construction and infrastructure development, rising automotive and transportation manufacturing, increased demand for packaging materials, expansion of electrical transmission and distribution networks, availability of bauxite and aluminum smelting capacity.

The aluminum market size is expected to see strong growth in the next few years. It will grow to $259.05 billion in 2030 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to rising adoption of electric vehicles, increasing emphasis on aluminum recycling and circular economy, growth in renewable energy and power infrastructure, expanding use of lightweight materials in aviation and rail, technological advancements in aluminum processing. Major trends in the forecast period include increasing adoption of lightweight aluminum in transportation, growing demand for recycled and secondary aluminum, rising use of aluminum in sustainable packaging solutions, expansion of aluminum applications in construction and infrastructure, increasing focus on high-strength and corrosion-resistant aluminum alloys.

Growing demand from the automotive industry is anticipated to drive the expansion of the aluminum market in the coming years. The automotive industry encompasses a range of businesses and organizations involved in the design, manufacturing, marketing, and sale of motor vehicles. As the automotive sector continues to expand, it increasingly relies on aluminum in large quantities to enhance durability and improve aesthetic appeal. For example, in March 2025, according to the European Automobile Manufacturers Association, a Belgium-based trade organization, global car sales reached 74.6 million units in 2024, representing a 2.5% increase compared to 2023, while the EU car market grew by 0.8% during the same period, with total sales reaching 10.6 million units. As a result, the rapid growth of the automotive industry is fueling the expansion of the aluminum market.

Prominent companies within the aluminum market are actively engaged in the development of innovative products, notably focusing on liquid cooling plates, as part of their strategy to attain a competitive edge. Liquid cooling plates represent integral components within thermal management systems, designed to disperse the heat generated by electronic or power devices. A significant instance of this trend occurred in October 2023 when Alloy Enterprises Inc., a US-based aluminum manufacturing company, unveiled a line of aluminum cold plate components. These components boast exceptional material characteristics, including a high strength-to-weight ratio, remarkable thermal conductivity, intricate channel configurations, integrated cooling capabilities, and conformal surfaces. Engineered with heightened durability and optimized operational performance, these parts are meticulously crafted to obviate the need for further assembly, eliminating concerns related to porosity or de-powdering. Leveraging highly thermally conductive materials such as copper or aluminum, these cooling plates serve as conduits for coolants, whether liquid or gas, effectively regulating heat across various sections of the system. This innovation in liquid cooling plates underscores the commitment of industry leaders to advance thermal management technologies within the aluminum market.

In June 2024, Mengtai Group, a China-based aluminum production conglomerate, acquired Alu Menziken for an undisclosed amount. This acquisition aligns with Mengtai Group's strategic goal of enhancing its capabilities, fostering innovation, and expanding its market presence within the European aluminum industry. Alu Menziken is a Switzerland-based steel manufacturing company that specializes in producing lightweight aluminum components.

Major companies operating in the aluminum market report are BHP Group Limited, Hulamin Limited, Rio Tinto plc, Hindalco Industries Limited, Norsk Hydro ASA, Aluminum Corporation of China Limited, China Hongqiao Group Limited, Vedanta Resources Limited, Novelis Inc., Reliance Steel & Aluminum Co., Alcoa Corporation, United Company RUSAL Plc, Arconic Inc., Constellium SE, Emirates Global Aluminium PJSC, Vimetco N.V., Kaiser Aluminum Corporation, Century Aluminum Company, Aluminium Bahrain B.S.C., Alumetal S.A., Hydro Extrusion USA LLC, Gulf Aluminium Rolling Mill B.S.C., Assan Aluminyum Sanayi ve Ticaret A.S., East Hope Group Company Limited, Dubai Aluminium Company Limited, Shandong Xinfa Aluminum Co. Ltd., China Zhongwang Holdings Limited.

Asia-Pacific was the largest region in the aluminum market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the aluminum market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the aluminum market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The aluminum market consists of sales of flat products, extruded products, forged products, long products, cast products, and others. 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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