An Aluminum Market size was valued at US$ 166.9 Bn. in 2022 and the total revenue is expected to grow at a CAGR of 3.2% from 2023 to 2029, reaching nearly US$ 208.15 Bn.
Aluminum Market Overview:Global Aluminum Market is expected to reach US$ 208.15 Bn. by 2029. Aluminium is a thin, silvery-white metal. It's pliable and malleable. Cans, foils, culinary utensils, window frames, beer kegs, and aeroplane parts are all made of aluminium. This is due to its unique characteristics. This report focuses on the different segments of the Aluminum market (Product Type, End User Industry, Processing Method, and Region). The leading industry players and regions are thoroughly examined in this report (North America, Asia Pacific, Europe, Middle East & Africa, and South America). It's a thorough examination of today's quick advances in a variety of sectors. Facts and figures, visualisations, and presentations are used to highlight the primary data analysis from 2017 to 2021. The market drivers, restraints, opportunities, and challenges for Aluminum are examined in this report. The MMR report's investment suggestions are based on a thorough examination of the current competitive environment in the Aluminum market.To know about the Research Methodology:-Request Free Sample Report
Aluminum Market Dynamics:China's government owns the majority of its industries. Many of these industries are rapidly evolving and increasing. As a result, additional aluminum is required. Construction, packaging, transportation, and electricity are just a few of the industries in China that use aluminum extensively. These four industries consume almost 60% of the total aluminum used by the Chinese industry each year. The government is making significant efforts to make aluminum more available to Chinese manufacturers. Its conclusion is expected to have a significant impact on the global aluminum market growth. A number of factors are preventing the global aluminium market from growing. One of these is that mining and processing bauxite into aluminium is extremely harmful to the environment. Many aluminium processors are addressing this issue by producing and selling secondary aluminium. The challenge is that this could hamper both short- and long-term growth in the aluminium market. Aluminum is a robust metal that does not easily melt or distort when exposed to high temperatures. It is also flexible. It's also light, resistant to rust and corrosion, and a good conductor of heat and electricity. Aluminum is relatively inexpensive, which is why it is increasingly being used in the global automobile market. Aluminum producers all around the world are aware of this. That's why they're investing substantially in R&D to try to develop newer generations of aluminium products that are superior in all of the above features while also being considerably more affordable. Decarbonisation is one of the most significant difficulties facing the global aluminium market. The majority of aluminium companies are under intense pressure to make their processes more environmentally friendly. They can only achieve this if they use low-carbon steel, which is of lower grade.
Aluminum Market Segment Analysis:The Aluminum Market is segmented by Product Type, End User Industry, and Processing Method. Based on the End User Industry, the market is segmented into Transport, Building & Construction, Electrical Engineering, Consumer Goods, Foil & Packaging, Machinery & Equipment, and Others. Building & Construction industry segment is expected to hold the largest market share of xx% by 2029. Aluminum is the second most commonly utilised metal in the building and construction industry. Windows, curtain walls, roofing and cladding, solar shading, solar panels, railings, shelves, and other temporary structures all make use of it. One of the key factors boosting the market in recent years has been the increase in construction activities around the world. The construction industry in Asia-Pacific is the largest in the world, and it is rising at a healthy pace, owing to the increasing population, middle-class earnings, and urbanisation. This has boosted the construction industry and driven demand for aluminium in the region by increasing demand for hotels, shopping malls, high-rise structures, arenas, and stadiums (both outdoor and indoor). Furthermore, China, India, and different Southeast Asian countries lead the low-cost housing development segment in Asia-Pacific. The United States is the largest residential building market in North America and one of the world's key growth areas. Almost 80% of people favour single-family housing as a long-term goal, and almost 70% of people are working toward that goal, resulting in an increase in the number of houses built each year. During the forecast period, the demand for aluminium from the building and construction industry is expected to be driven by rebounding construction activities around the world. Based on the Processing Method, the market is segmented into Flat Rolled, Castings, Extrusions, Forgings, Pigments & Powder, and Rod & Bar. Aluminum Extrusions Processing Method segment is expected to grow rapidly at a CAGR of xx% during the forecast period 2023-2029. Aluminum extrusion is the technique of forcing aluminium alloy material through a die having a predetermined cross-sectional profile. The metal is pushed through the die by a strong ram and exits from the die aperture. It emerges in the same shape as the die and is hauled out along a runout table when this happens. Due to its versatility, aluminium has minimal tooling costs. Fabrication costs are lower, and assembly is easier, because there are fewer components to design. Aluminum has a better strength-to-weight ratio than steel, and it is only one-third the weight. This has aided the light weighting trend in the automobile industry.
Regional Insights:Asia Pacific region is expected to dominate the Aluminum Market during the forecast period 2023-2029. Asia Pacific region is expected to hold the largest market share of xx% by 2029. During the forecast period, the Asia-Pacific region is expected to be the largest market for aluminium. Electronics, building and construction, aerospace, and other industries are booming in countries like China, India, and Japan, among others. Due to the presence of many OEMs in the region, the electronics manufacturing industry in Asia-Pacific is expected to grow rapidly during the forecast period. According to China's National Bureau of Statistics, retail sales of household appliances and consumer electronics in China were around CNY 100 billion in December 2022. Following the announcement of a USD 37 billion sale in China, the Boeing Company expected that China would purchase USD 1.1 trillion in new aircraft by 2036. During the forecast period, India is expected to invest over USD 1.3 trillion in housing, with 60 million new homes being built. Retail sales in the packaged food market in Japan are expected to reach USD 208.15 billion by 2029, representing a 3.6 percent or USD 7 billion increase. During the forecast period, such advance to the next level in the packaging industry is expected to drive market demand for aluminium foils used in packaging. The objective of the report is to present a comprehensive analysis of the Global Aluminum Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Global Aluminum Market dynamic and structure by analyzing the market segments and projecting the Global Aluminum Market size. Clear representation of competitive analysis of key players by Distribution Channel, price, financial position, product portfolio, growth strategies, and regional presence in the Aluminum Market make the report investor’s guide.
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Aluminum Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 166.9 Bn. Forecast Period 2023 to 2029 CAGR: 3.2% Market Size in 2029: US $ 208.15 Bn. Segments Covered: by Product Type Plates Ingots Sheets & Foils Cables & Wires by End User Industry Transport Building & Construction Electrical Engineering Consumer Goods Foil & Packaging Machinery & Equipment Others by Processing Method Flat Rolled Castings Extrusions Forgings Pigments & Powder Rod & Bar
Aluminum Market by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest)
Aluminum Market Key Players1.United Company RUSAL Plc. 2.Aluminum Corporation of China Limited 3.Rio Tinto Alcan Inc. 4.Aluminum Bahrain B.S.C 5.Ball Corporation 6.BHP Billiton Limited 7.Century Aluminum Company 8.Crown Holdings Incorporated 9.Constellium N.V. 10.Glencore International AG 11.Hindalco Industries Ltd. 12.Jindal Iron & Steel Company Limited 13.JW Aluminum Company 14.Kaiser Aluminum Corporation 15.National Aluminum Company Limited 16.Orkla ASA 17.Rexam plc 18.Shandong Nanshan Aluminum Co. 19.South32 Limited 20.State Power Investment Corporation 21.Talco Aluminum Company 22.Vale 23.Alcoa Corp Frequently Asked Questions: 1. Which region has the largest share in Global Aluminum Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Aluminum Market? Ans: The Global Aluminum Market is growing at a CAGR of 3.2% during forecasting period 2023-2029. 3. What is scope of the Global Aluminum market report? Ans: Global Aluminum Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Aluminum market? Ans: The important key players in the Global Aluminum Market are – United Company RUSAL Plc., Aluminum Corporation of China Limited, Rio Tinto Alcan Inc., Aluminum Bahrain B.S.C, Ball Corporation, BHP Billiton Limited, Century Aluminum Company, Crown Holdings Incorporated, Constellium N.V., Glencore International AG, Hindalco Industries Ltd., Jindal Iron & Steel Company Limited, JW Aluminum Company, Kaiser Aluminum Corporation, National Aluminum Company Limited, Orkla ASA, Rexam plc, Shandong Nanshan Aluminum Co., South32 Limited, State Power Investment Corporation, Talco Aluminum Company, Vale, and Alcoa Corp 5. What is the study period of this market? Ans: The Global Aluminum Market is studied from 2022 to 2029.
1. Global Aluminum Market: Research Methodology 2. Global Aluminum Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to the Global Aluminum Market 2.2. Summary 2.1.1. Key Findings 2.1.2. Recommendations for Investors 2.1.3. Recommendations for Market Leaders 2.1.4. Recommendations for New Market Entry 3. Global Aluminum Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Aluminum Market Segmentation 4.1 Global Aluminum Market, by Product Type (2022-2029) • Plates • Ingots • Sheets & Foils • Cables & Wires 4.2 Global Aluminum Market, by End User Industry (2022-2029) • Transport • Building & Construction • Electrical Engineering • Consumer Goods • Foil & Packaging • Machinery & Equipment • Others 4.3 Global Aluminum Market, by Processing Method (2022-2029) • Flat Rolled • Castings • Extrusions • Forgings • Pigments & Powder • Rod & Bar 5. North America Aluminum Market (2022-2029) 5.1 North America Aluminum Market, by Product Type (2022-2029) • Plates • Ingots • Sheets & Foils • Cables & Wires 5.2 North America Aluminum Market, by End User Industry (2022-2029) • Transport • Building & Construction • Electrical Engineering • Consumer Goods • Foil & Packaging • Machinery & Equipment • Others 5.3 North America Aluminum Market, by Processing Method (2022-2029) • Flat Rolled • Castings • Extrusions • Forgings • Pigments & Powder • Rod & Bar 5.4 North America Aluminum Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Aluminum Market (2022-2029) 6.1. Europe Aluminum Market, by Product Type (2022-2029) 6.2. Europe Aluminum Market, by End User Industry (2022-2029) 6.3. Europe Aluminum Market, by Processing Method (2022-2029) 6.4. Europe Aluminum Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Aluminum Market (2022-2029) 7.1. Asia Pacific Aluminum Market, by Product Type (2022-2029) 7.2. Asia Pacific Aluminum Market, by End User Industry (2022-2029) 7.3. Asia Pacific Aluminum Market, by Processing Method (2022-2029) 7.4. Asia Pacific Aluminum Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. South America Aluminum Market (2022-2029) 8.1. South America Aluminum Market, by Product Type (2022-2029) 8.2. South America Aluminum Market, by End User Industry (2022-2029) 8.3. South America Aluminum Market, by Processing Method (2022-2029) 8.4. South America Aluminum Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 9. Middle East and Africa Aluminum Market (2022-2029) 9.1 Middle East and Africa Aluminum Market, by Product Type (2022-2029) 9.2. Middle East and Africa Aluminum Market, by End User Industry (2022-2029) 9.3. Middle East and Africa Aluminum Market, by Processing Method (2022-2029) 9.4. Middle East and Africa Aluminum Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 10. Company Profile: Key players 10.1 United Company RUSAL Plc. 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Aluminum Corporation of China Limited 10.3 Rio Tinto Alcan Inc. 10.4 Aluminum Bahrain B.S.C 10.5 Ball Corporation 10.6 BHP Billiton Limited 10.7 Century Aluminum Company 10.8 Crown Holdings Incorporated 10.9 Constellium N.V. 10.10 Glencore International AG 10.11 Hindalco Industries Ltd. 10.12 Jindal Iron & Steel Company Limited 10.13 JW Aluminum Company 10.14 Kaiser Aluminum Corporation 10.15 National Aluminum Company Limited 10.16 Orkla ASA 10.17 Rexam plc 10.18 Shandong Nanshan Aluminum Co. 10.19 South32 Limited 10.20 State Power Investment Corporation 10.21 Talco Aluminum Company 10.22 Vale 10.23 Alcoa Corp