Aluminium Market Dynamics and Analysis by 2031
The Aluminium Market is expected to register a CAGR of 6% from 2023 to 2031, with a market size expanding from US$ XX Million in 2023 to US$ XX Million by 2031.
The report is segmented by End-User (Transport, Building & Construction, Electrical Engineering, Consumer goods, Foil & Packaging, Machinery & Equipment, Others). The report further presents analysis based on Processing Method (Flat rolled, Castings, Extrusion, Forgings, Pigments & Powders, Rod & Bar). The global analysis is further broken-down at regional level and major countries. The market size and forecast at global, regional, and country levels for all the key market segments are covered under the scope. The report offers the value in USD for the above analysis and segments. The report provides key statistics on the market status of the key market players and offers market trends and opportunities.
Purpose of the ReportThe report Aluminium Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Aluminium Market Segmentation
End-User- Transport
- Building & Construction
- Electrical Engineering
- Consumer goods
- Foil & Packaging
- Machinery & Equipment
- Flat rolled
- Castings
- Extrusion
- Forgings
- Pigments & Powders
- Rod & Bar
Strategic Insights
Aluminium Market Growth Drivers- Global Economic Growth and Infrastructure Development: The demand for aluminum is highly related to economic growth in the construction, automotive, aerospace, and packaging sectors. Higher demand also occurs due to the growing need for aluminum usage in the infrastructure projects of developing nations like China and India for transportation purposes, including cars, planes, and consumer goods.
- Energy Prices and Production Costs: Aluminum production is very power-intensive, and electricity is perhaps the costliest item that goes into the production of the metal. Changes in energy prices, particularly in the major countries of production such as China, the Middle East, and Russia, significantly impact the costs of aluminium production and, therefore, affect aluminium prices.
- Supply Chain Dynamics and Bauxite Availability:One of the factors influencing the aluminum market's dynamics is bauxite availability. This is a raw material from which aluminum can be produced, relying primarily on mining and further refining and smelting for its mass production.
- Growing Trend of Sustainably Sourced Products: The current market for aluminum and its future prospects will be significantly determined by Circular Economy principles. Demand for recycled and sustainably sourced aluminum will increase as industries take active steps to lessen their adverse effects on the environment and improve the utilization of resources.
- Growing Demand for EVs: The increase in demand for electric vehicles (EVs) will directly affect the demand for aluminum. Components made out of lightweight aluminum are necessary for enhancing the efficiency of electric vehicles and therefore, increase automobile applications creating a shift in the industrial landscapes.
- Advancements in Technologies: The implementation of intelligent production technologies in the processes of aluminum production, including robots and artificial intelligence, will lead to an increase in aluminum production outputs and efficiencies. This trend is likely to translate to cost advantages and quality improvements for the market as a whole.
- Increasing Adotion of Sustainable Materials in End Use Industries: In sectors such as automotive and construction, the use of sustainable materials is significant which is driving the demand for aluminum. Aluminum’s attributes of being recyclable and its property of issuing a lower footprint encourages its use in an economy that promotes sustainability.
- Rising Urbanization: The increasing rate of urbanization and construction of infrastructure particularly in developing countries is increasing the aluminum composites demand in the building and transport sectors hence a significant expansion of the market.
- Favorable Market Conditions for Electric Vehicles Across the Globe: The growing market of electric vehicles makes favorable market conditions for aluminum because of its lightweight that helps to enhance the efficiency and range of electric vehicles.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Aluminium Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Aluminium Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
The Aluminium Market is estimated to witness a CAGR of 6% from 2023 to 2031
Rising global infrastructure projects is driving the market growth
Alcoa Corporation; Norsk Hydro ASA; Rusal; Rio Tinto Group; China Hongqiao Group; Aluminium Corporation of China (Chalco); Kaiser Aluminum Corporation; Novelis Inc.; Aleris Corporation; Constellium SE; UACJ Corporation; Southern Aluminum; Jindal Aluminium; Gulf Extrusions; Alcan
Based on end-user, the transport segment is expected to witness the fastest growth during the forecast period
Based on geography, Asia Pacific held the largest share of the aluminum market due to the rising construction across the region, coupled with continuous growth and development
Increase in demand for electric vehicles (EVs) is expected to be the key market trends
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
- Aluminium Market - By End-User
- Aluminium Market - By Processing Method
- Aluminium Market - By Region
- By Country
3. RESEARCH METHODOLOGY
4. ALUMINIUM MARKET LANDSCAPE
4.1. OVERVIEW
4.2. ECOSYSTEM ANALYSIS
4.3. PEST ANALYSIS
4.3.1. North America - PEST Analysis
4.3.2. Europe - PEST Analysis
4.3.3. Asia Pacific (APAC) - PEST Analysis
4.3.4. Middle East & Africa (MEA) - PEST Analysis
4.3.5. South America (SAM)- PEST Analysis
5. ALUMINIUM MARKET - KEY INDUSTRY DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
6. ALUMINIUM MARKET - GLOBAL MARKET ANALYSIS
6.1. ALUMINIUM - GLOBAL MARKET OVERVIEW
6.2. ALUMINIUM - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/ MARKET SHARE
7. ALUMINIUM MARKET REVENUE AND FORECASTS TO 2028 - END-USER
7.1. OVERVIEW
7.2. END-USER MARKET FORECASTS AND ANALYSIS
7.3. TRANSPORT
7.3.1. Overview
7.3.2. Transport Market Forecast and Analysis
7.4. BUILDING & CONSTRUCTION
7.4.1. Overview
7.4.2. Building & Construction Market Forecast and Analysis
7.5. ELECTRICAL ENGINEERING
7.5.1. Overview
7.5.2. Electrical Engineering Market Forecast and Analysis
7.6. CONSUMER GOODS
7.6.1. Overview
7.6.2. Consumer Goods Market Forecast and Analysis
7.7. FOIL & PACKAGING
7.7.1. Overview
7.7.2. Foil & Packaging Market Forecast and Analysis
7.8. MACHINERY & EQUIPMENT
7.8.1. Overview
7.8.2. Machinery & Equipment Market Forecast and Analysis
7.9. OTHERS
7.9.1. Overview
7.9.2. Others Market Forecast and Analysis
8. ALUMINIUM MARKET REVENUE AND FORECASTS TO 2028 - PROCESSING METHOD
8.1. OVERVIEW
8.2. PROCESSING METHOD MARKET FORECASTS AND ANALYSIS
8.3. FLAT ROLLED
8.3.1. Overview
8.3.2. Flat Rolled Market Forecast and Analysis
8.4. CASTINGS
8.4.1. Overview
8.4.2. Castings Market Forecast and Analysis
8.5. EXTRUSIONS
8.5.1. Overview
8.5.2. Extrusions Market Forecast and Analysis
8.6. FORGINGS
8.6.1. Overview
8.6.2. Forgings Market Forecast and Analysis
8.7. PIGMENTS & POWDERS
8.7.1. Overview
8.7.2. Pigments & Powders Market Forecast and Analysis
8.8. ROD & BAR
8.8.1. Overview
8.8.2. Rod & Bar Market Forecast and Analysis
9. ALUMINIUM MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1. North America Aluminium Market Overview
9.1.2. North America Aluminium Market Forecasts and Analysis
9.1.3. North America Market Forecasts and Analysis - By End-User
9.1.4. North America Market Forecasts and Analysis - By Processing Method
9.1.5. North America Market Forecasts and Analysis - By Countries
9.1.5.1. US market
9.1.5.1.1. US Market by End-User
9.1.5.1.2. US Market by Processing Method
9.1.5.2. Canada market
9.1.5.2.1. Canada Market by End-User
9.1.5.2.2. Canada Market by Processing Method
9.1.5.3. Mexico market
9.1.5.3.1. Mexico Market by End-User
9.1.5.3.2. Mexico Market by Processing Method
9.2. EUROPE
9.2.1. Europe Aluminium Market Overview
9.2.2. Europe Aluminium Market Forecasts and Analysis
9.2.3. Europe Market Forecasts and Analysis - By End-User
9.2.4. Europe Market Forecasts and Analysis - By Processing Method
9.2.5. Europe Market Forecasts and Analysis - By Countries
9.2.5.1. France market
9.2.5.1.1. France Market by End-User
9.2.5.1.2. France Market by Processing Method
9.2.5.2. Germany market
9.2.5.2.1. Germany Market by End-User
9.2.5.2.2. Germany Market by Processing Method
9.2.5.3. Italy market
9.2.5.3.1. Italy Market by End-User
9.2.5.3.2. Italy Market by Processing Method
9.2.5.4. Russia market
9.2.5.4.1. Russia Market by End-User
9.2.5.4.2. Russia Market by Processing Method
9.2.5.5. UK market
9.2.5.5.1. UK Market by End-User
9.2.5.5.2. UK Market by Processing Method
9.2.5.6. Rest of Europe market
9.2.5.6.1. Rest of Europe Market by End-User
9.2.5.6.2. Rest of Europe Market by Processing Method
9.3. ASIA PACIFIC (APAC)
9.3.1. Asia Pacific Aluminium Market Overview
9.3.2. Asia Pacific Aluminium Market Forecasts and Analysis
9.3.3. Asia Pacific Market Forecasts and Analysis - By End-User
9.3.4. Asia Pacific Market Forecasts and Analysis - By Processing Method
9.3.5. Asia Pacific Market Forecasts and Analysis - By Countries
9.3.5.1. South Korea
9.3.5.1.1. South Korea Market by End-User
9.3.5.1.2. South Korea Market by Processing Method
9.3.5.2. China market
9.3.5.2.1. China Market by End-User
9.3.5.2.2. China Market by Processing Method
9.3.5.3. India market
9.3.5.3.1. India Market by End-User
9.3.5.3.2. India Market by Processing Method
9.3.5.4. Japan market
9.3.5.4.1. Japan Market by End-User
9.3.5.4.2. Japan Market by Processing Method
9.3.5.5. Australia market
9.3.5.5.1. Australia Market by End-User
9.3.5.5.2. Australia Market by Processing Method
9.3.5.6. Rest of APAC market
9.3.5.6.1. Rest of APAC Market by End-User
9.3.5.6.2. Rest of APAC Market by Processing Method
9.4. MIDDLE EAST AND AFRICA (MEA)
9.4.1. Middle East and Africa Aluminium Market Overview
9.4.2. Middle East and Africa Aluminium Market Forecasts and Analysis
9.4.3. Middle East and Africa Market Forecasts and Analysis - By End-User
9.4.4. Middle East and Africa Market Forecasts and Analysis - By Processing Method
9.4.5. Middle East and Africa Market Forecasts and Analysis - By Countries
9.4.5.1. South Africa market
9.4.5.1.1. South Africa Market by End-User
9.4.5.1.2. South Africa Market by Processing Method
9.4.5.2. Saudi Arabia market
9.4.5.2.1. Saudi Arabia Market by End-User
9.4.5.2.2. Saudi Arabia Market by Processing Method
9.4.5.3. UAE market
9.4.5.3.1. UAE Market by End-User
9.4.5.3.2. UAE Market by Processing Method
9.4.5.4. Rest of MEA market
9.4.5.4.1. Rest of MEA Market by End-User
9.4.5.4.2. Rest of MEA Market by Processing Method
9.5. SOUTH AMERICA (SAM)
9.5.1. South America Aluminium Market Overview
9.5.2. South America Aluminium Market Forecasts and Analysis
9.5.3. South America Market Forecasts and Analysis - By End-User
9.5.4. South America Market Forecasts and Analysis - By Processing Method
9.5.5. South America Market Forecasts and Analysis - By Countries
9.5.5.1. Brazil market
9.5.5.1.1. Brazil Market by End-User
9.5.5.1.2. Brazil Market by Processing Method
9.5.5.2. Argentina market
9.5.5.2.1. Argentina Market by End-User
9.5.5.2.2. Argentina Market by Processing Method
9.5.5.3. Rest of SAM market
9.5.5.3.1. Rest of SAM Market by End-User
9.5.5.3.2. Rest of SAM Market by Processing Method
10. INDUSTRY LANDSCAPE
10.1. MERGERS & ACQUISITIONS
10.2. MARKET INITIATIVES
10.3. NEW DEVELOPMENTS
11. ALUMINIUM MARKET, KEY COMPANY PROFILES
11.1. ALCOA CORPORATION
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products & Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ALUMINUM CORPORATION OF CHINA LTD (CHALCO)
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products & Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ALUMINIUM DIVISION OF RIO TINTO
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products & Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. CHINA HONGQIAO GROUP LTD
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products & Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CHINA POWER INVESTMENT CORP. (CPI)
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products & Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. EAST HOPE GROUP COMPANY LTD
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products & Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. EMIRATES GLOBAL ALUMINIUM PJSC
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products & Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. NORSK HYDRO ASA
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products & Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. RUSAL
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products & Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. XINFA GROUP CO., LTD.
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products & Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. Alcoa Corporation
2. Aluminum Corporation of China Limited (CHALCO),
3. Aluminium Division of Rio Tinto
4. China Hongqiao Group Ltd.,
5. China Power Investment Corp. (CPI)
6. East Hope Group Company Limited,
7. Emirates Global Aluminium PJSC,
8. Norsk Hydro ASA
9. Rusal
10. Xinfa Group Co., Ltd.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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