The global aluminium market is expected to exhibit a growth rate (CAGR) of 5.4% during 2023-2028. The increasing sales of vehicles, rising consumption of RTE food products, and the growing construction activities represent some of the key factors driving the market.
Aluminium (Al) refers to a silvery white metal that is soft, lightweight, durable, malleable, strong, flexible, and capable of withstanding harsh environments. It is produced by smelting aluminium oxide (Al2O3), which is obtained through the refining of bauxite ore. It is an excellent conductor of electricity and heat and resistant to corrosion and oxidation. It can be compounded with other elements, such as copper, magnesium, zinc, iron, nickel, and silicone to improve its properties. It is used in heat exchangers, such as radiators and condensers, which help in improving cooling efficiency. It is also utilized for the packaging of medicines, medical products, vials, and other supplies to protect and preserve the potency and effectiveness of medications.
Aluminium Market Trends:
Al is employed in the automotive industry for manufacturing various components of the vehicle, including doors, hoods, fenders, control arms, brake calipers, engine blocks, turbochargers, fuel tanks, and wheels. This, coupled with the increasing sales of passenger and luxury vehicles and initiatives undertaken by governments of different countries to reduce carbon emissions, currently represents one of the key factors strengthening the market growth around the world. Moreover, the rising use of Al in the packaging industry on account of its numerous advantages, such as excellent thermal conductivity properties, lightweight, and ability to protect contents from moisture and oxygen, is favoring the growth of the market. In addition, Al finds application in the food and beverage (F&B) industry for making packaging containers as it helps retain the flavor and integrity of the content. This, along with the growing demand for ready-to-eat (RTE) food products on account of hectic schedules and expanding purchasing power of consumers, is influencing the market positively. Apart from this, the increasing utilization of Al in the construction sector to help create durable, energy efficient, and aesthetically appealing buildings due to the rising construction activities in residential, commercial, and industrial areas are contributing to the market growth. Furthermore, the growing usage of Al in the packaging of skincare and cosmetic products like creams, bodywash, perfumes, soaps, lipstick, compacts, and moisturizers is creating a favorable outlook for the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global aluminium market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on series, processing method and end use industry.
- Series 1
- Series 2
- Series 3
- Series 4
- Series 5
- Series 6
- Series 7
- Series 8
The report has provided a detailed breakup and analysis of the aluminium market based on the series. This includes series 1, series 2, series 3, series, 4, series 5, series 6, series 7, and series 8. According to the report, series 3 represented the largest segment.
Processing Method Insights:
- Flat Rolled
- Pigments and Powder
- Rod and Bar
A detailed breakup and analysis of the aluminium market based on the processing method has also been provided in the report. This includes flat rolled, castings, extrusions, forgings, pigments and powder, and rod and bar. According to the report, extrusions accounted for the largest market share.
End Use Industry Insights:
- Building and Construction
- Electrical Engineering
- Consumer Goods
- Foil and Packaging
- Machinery and Equipment
The report has provided a detailed breakup and analysis of the aluminium market based on the end use industry. This includes transport, building and construction, electrical engineering, consumer goods, foil and packaging, machinery and equipment, and others. According to the report, building and construction represented the largest segment.
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) was the largest market for aluminium. Some of the factors driving the Asia Pacific aluminium market included government initiatives, investment in R&D activities, rising demand for automobiles, etc.
The report has also provided a comprehensive analysis of the competitive landscape in the global aluminium market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Alcoa Corporation, Aluminium Bahrain BSC, Century Aluminium Company, China Hongqiao Group Limited, East Hope Group, Emirates Global Aluminium PJSC, Kaiser Aluminium, Norsk Hydro ASA, Novelis Inc. (Hindalco Industries Limited), Rio Tinto Ltd., Vedanta limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
|Base Year of the Analysis
|| US$ Billion
||Series, Processing Method, End Use Industry, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alcoa Corporation, Aluminium Bahrain BSC, Century Aluminium Company, China Hongqiao Group Limited, East Hope Group, Emirates Global Aluminium PJSC, Kaiser Aluminium, Norsk Hydro ASA, Novelis Inc. (Hindalco Industries Limited), Rio Tinto Ltd. and Vedanta limited
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Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the aluminium market from 2017-2028.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the global aluminium market.
- The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the aluminium industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.