The global aluminum market size is estimated to grow from USD 199.7 billion in the current year to USD 374.1 billion by 2035, at a CAGR of 5.87% during the forecast period, till 2035.
The opportunity for aluminum market has been distributed across the following segments:
Type of Aluminum
- Primary Aluminum
- Secondary Aluminum
Type of Alloy
- Cast Alloy
- Wrought Alloy
Type of Series
- Series 1
- Series 2
- Series 3
- Series 4
- Series 5
- Series 6
- Series 7
- Series 8
Type of Product
- Billets
- Castings
- Extrusion
- Flat Rolled
- Foils
- Forgings
- Ingots
- Pigments and Powder
- Rod and Bar
Type of End User
Building & Construction
- Commercial
- Industrial
- Residential
Consumer Goods
- Appliances
- Furniture
Electrical & Electronics
- Consumer Electronics
- Power Cables
Machinery & Equipment
Packaging
- Beverage Cans
- Foil Packaging
Transportation
- Automotive
- Aerospace
- Marine
- Railways
Others
- Defense
- Industrial Applications
Geographical Regions
- North America
- US
- Canada
- Mexico
- Other North American countries
- Europe
- Austria
- Belgium
- Denmark
- France
- Germany
- Ireland
- Italy
- Netherlands
- Norway
- Russia
- Spain
- Sweden
- Switzerland
- UK
- Other European countries
- Asia
- China
- India
- Japan
- Singapore
- South Korea
- Other Asian countries
- Latin America
- Brazil
- Chile
- Colombia
- Venezuela
- Other Latin American countries
- Middle East and North Africa
- Egypt
- Iran
- Iraq
- Israel
- Kuwait
- Saudi Arabia
- UAE
- Other MENA countries
- Rest of the World
- Australia
- New Zealand
- Other countries
Aluminum Market: Growth and Trends
Aluminum is a lightweight metal characterized by its silvery-white appearance and is well-known for its outstanding properties, making it a highly valued material in various sectors. Primarily, aluminum is extracted from bauxite ore through the Bayer process to produce alumina, and then it is refined into aluminum metal using the Hall-Héroult method. The combination of high strength and low weight has significantly changed the automotive, transportation, and aerospace sectors.
Additionally, aluminum’s benefits, such as its resistance to corrosion, excellent thermal and electrical conductivity, as well as its ductility and malleability, significantly drive the demand for this metal across various applications. Metal has also become a vital component in the food and beverage industry due to its non-toxic properties and recyclability, which are extensively utilized for beverage cans, foil, and packaging materials, thus reinforcing trends in aluminum packaging. Moreover, by harnessing advancements in technology, industry players are consistently searching for innovative ways to create advanced products that meet the evolving demands of technologies such as electric vehicles, renewable energy, and 3D printing.
Driven by the increasing demand for aluminum from various end-use industries, a growing focus on sustainability and recyclability, and ongoing technological innovations, the aluminum market is anticipated to grow at a healthy pace during the forecast period.
Aluminum Market: Key Segments
Market Share by Type of Aluminum
Based on the type of aluminum, the global aluminum market is segmented into primary aluminum and secondary aluminum. According to our estimates, currently, primary aluminum segment captures the majority share of the market and is projected to maintain this position, as the aluminum production sector expands, with aluminum being produced directly from bauxite ore for its alloys and products. However, secondary aluminum segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Type of Alloy
Based on the type of alloy, the aluminum market is segmented into cast alloy and wrought alloy. According to our estimates, currently, wrought alloy segment captures the majority share of the market. The production of wrought alloys involves mechanical processes like forging, rolling, and extrusion, which enhance the ductility and strength of the alloy compared to cast alloys. Additionally, the extensive utilization of wrought alloys in industries such as aerospace, transportation, and automotive significantly boosts demand for the metal, contributing to market expansion. However, cast alloy segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Type of Series
Based on the type of series, the aluminum market is segmented into series 1, series2, series 3, series 4, series 5, series 6, series 7, and series 8. According to our estimates, currently, series 1 segment captures the majority share of the market. The significant demand for series 1 in the electrical sector, attributed to its conductivity, has propelled the growth of this segment. Furthermore, the corrosion resistance of 1xx series aluminum alloys contributes to its widespread use in chemical processing equipment, further enhancing segment growth. However, series 6 segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Type of Product
Based on the type of product, the aluminum market is segmented into billets, castings, extrusion, flat rolled, foils, forgings, ingots, pigments, and powder, rod and bar. According to our estimates, currently, extrusion segment captures the majority share of the market. This can be attributed the rising demand for aluminum products in specific shapes, which are created through the extrusion process involving the heating of aluminum. This method is predominantly utilized in construction for window and door frames, as well as in consumer goods like furniture, all of which play a significant role in driving the growth of this segment.
Market Share by Type of End User
Based on the type of end user, the aluminum market is segmented into building & construction, consumer goods, electrical & electronics, machinery & equipment, packaging, transportation, and others. According to our estimates, currently, transportation segment captures the majority share of the market. This can be attributed to the growing adoption of aluminum in the automotive industry due to its lightweight properties. However, building & construction segment is anticipated to grow at a higher CAGR during the forecast period.
Market Share by Geographical Regions
Based on the geographical regions, the Aluminum market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World. According to our estimates, currently, Asia captures the majority share of the market. This can be attributed to the highest levels of production and consumption within this region. However, market share in North America is anticipated to grow at a higher CAGR during the forecast period.
Sample Players in Aluminum Market Profiled in the Report include:
- Acuity Brands
- Alco
- Aluminum Corporation of China
- Bharat Aluminum Company
- China Hongqiao
- Cisco Systems
- Constellium
- East Hope Group
- Emirates Global Aluminum
- Hindalco Industries
- Maan Aluminum
- MMP Indus
- Nalco
- Norsk Hydro
- Novelis
- PG Foils
- Rio Tinto
- Rusal
- Sudal Industries
- Timet Aluminum
- Vedanta
- Vedanta Resources
- Xinfa
Aluminum Market: Research Coverage
The report on the aluminum market features insights on various sections, including:
- Market Sizing and Opportunity Analysis: An in-depth analysis of the aluminum market, focusing on key market segments, including type of aluminum, type of alloy, type of series, type of product, type of end-user, geographical regions.
- Competitive Landscape: A comprehensive analysis of the companies engaged in the aluminum market, based on several relevant parameters, such as year of establishment, company size, location of headquarters, ownership structure.
- Company Profiles: Elaborate profiles of prominent players engaged in the aluminum market, providing details on location of headquarters, company size, company mission, company footprint, management team, contact details, financial information, operating business segments, Aluminum portfolio, moat analysis, recent developments, and an informed future outlook.
- SWOT Analysis: An insightful SWOT framework, highlighting the strengths, weaknesses, opportunities and threats in the domain. Additionally, it provides Harvey ball analysis, highlighting the relative impact of each SWOT parameter.
Key Questions Answered in this Report
- How do cast and wrought alloys differ in their applications and market performance?
- Which are the leading companies in this market?
- What factors are likely to influence the evolution of this market?
- What is the current and future market size?
- What is the CAGR of this market?
- How is the current and future market opportunity likely to be distributed across key market segments?
- What factors contribute to Asia's dominance in the aluminum market, and how does North America compare?
Reasons to Buy this Report
- The report provides a comprehensive market analysis, offering detailed revenue projections of the overall market and its specific sub-segments. This information is valuable to both established market leaders and emerging entrants.
- Stakeholders can leverage the report to gain a deeper understanding of the competitive dynamics within the market. By analyzing the competitive landscape, businesses can make informed decisions to optimize their market positioning and develop effective go-to-market strategies.
- The report offers stakeholders a comprehensive overview of the market, including key drivers, barriers, opportunities, and challenges. This information empowers stakeholders to stay abreast of market trends and make data-driven decisions to capitalize on growth prospects.
Additional Benefits
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Table of Contents
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Acuity Brands
- Alco
- Aluminum Corporation of China
- Bharat Aluminum Company
- China Hongqiao
- Cisco Systems
- Constellium
- East Hope Group
- Emirates Global Aluminum
- Hindalco Industries
- Maan Aluminum
- MMP Indus
- Nalco
- Norsk Hydro
- Novelis
- PG Foils
- Rio Tinto
- Rusal
- Sudal Industries
- Timet Aluminum
- Vedanta
- Vedanta Resources
- Xinfa
Methodology
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