Global Aluminium Metals Market Research Report: Information by Type (Primary Aluminium and Recycled Aluminium), Application (Automotive & Transportation, Construction, Foil & Packaging, Electrical, Machinery & Equipment, Consumer Goods and others) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast till 2025
ID: MRFR/CnM/2421-CR | August 2019 | Region: Global | 151 pages
The Global Aluminum Metals Market is projected to register 5.33% CAGR and reach USD 129.6 Million by 2025. Aluminum is one of the most abundantly available metal in the earth’s crust and is always obtained in a combined form. It exhibits superior physical properties such as ductility, durability, malleability, and machinability. When compared to other metals such as copper and steel, aluminum weighs one-third of their weight without compromising the strength and further exhibit notable corrosion properties. It is widely used in diverse range of industries for various applications, including powertrain and structural components in the automotive industry; and frames and structures in the building & construction industry.
Furthermore, the increasing consumption of recycled aluminum in the packaging sector is likely to surge the demand for aluminum in the global aluminum metals market. Currently, most of the emerging countries are shifting towards using recycled aluminum owing to its sustainability in terms of production and high economic value when compared with the production of primary aluminum.
Market Dynamics
The growing demand for aluminum is automotive industry coupled with the increasing use of aluminum in automotive components and transportation sectors is considered to be the primary factor driving the global market growth. This is largely attributed to the superior properties of aluminum such as high durability, lightweight, recyclability, and high strength coupled with a positive output on the overall performance of vehicles such as safety, excellent fuel efficiency, less maintenance, and reduced emission. Furthermore, the growing use of aluminum in the marine, rail, and aerospace industries as a replacement for steel is expected to drive the growth of the global market further.
In addition, recovered stability of housing and construction sector coupled with rapid urbanization and industrialization, is likely to further boost the overall market growth in the coming years. The economic crisis in 2008–2009 had a hostile effect on the housing industry in the mature markets in North America and Europe. However, with the current economic growth, the housing industry in developing countries is regaining stability, and house renovations and construction activities are increasing, which bolsters the global market growth. Moreover, the rising construction activities in the developing economies of Asia-Pacific and the Middle East & Africa and the need for aluminum in roofs and walls, external facades, windows and doors, railings, staircases, and shelves are expected to boost the market growth during the review period.
Global Aluminium Metals Market Revenue, by Application, 2018 (USD Million)
Sources: MRFR Analysis
Segmentation
Based on type, the global market is divided into primary aluminum and recycled aluminum. The primary aluminum segment accounted for the largest market share of 72% in 2018 and is estimated to register the highest CAGR of 5.50% during the review period. This can be attributed to the high purity obtained from the electrolytic reduction of alumina, which is devoid of any alloying metals. Primary aluminum is extensively used in the transport, packaging, construction, and electrical industries.
By application, the global market is segmented into automotive & transportation, construction, foil & packaging, electrical, machinery & equipment, consumer goods, and others. The automotive & transportation segment held the largest market share of 32% in 2018 and is projected to be the fastest-growing segment during the forecast period. This can be attributed to the surging demand for aluminum in automotive and transportations for the production of lightweight components, which enhances the fuel economy, reducing fuel consumption.
Global Aluminium Metals Market Share, by Region, 2017 (%)
Sources: MRFR Analysis
Regional Analysis
The market in Asia-Pacific dominated the global market accounting the largest share of 61% in 2018 and is expected to register the highest CAGR of 5.89% by the end of 2025. This is attributed to the increasing urbanization, easy availability of raw material, and growing consumption in various end-use industries. China is the leading country in the region and was valued at USD 46.9 million in 2018, owing to the large consumer base and healthy growth of the automotive & transportation and construction industries. Other major contributors to the growth of the market in the region are Japan and India.
The European market accounted for the second-largest market share of 15% in 2018 and is likely to exhibit a steady CAGR of 3.50% during the assessment period owing to the increasing incorporation of aluminum in automotive components. Moreover, Europe is home to several leading automobile manufacturers such as Volkswagen, BMW, Mercedes-Benz, and Audi. Germany is the leading country in the region due to the strong automotive base and growing need for aluminum metals in consumer goods.
Key Players
Some of the market players operating in the global aluminum metals market are RUSAL (Russia), Aluminium Corporation of China Ltd (China), Rio Tinto Alcan Inc. (Canada), Alcoa Inc. (US), Norsk Hydro ASA (Norway), China Hongqiao Group Limited (China), and Emirates Global Aluminium PJSC (UAE).
Some of the key strategies followed by the players operating in the global aluminum metals market are agreements and collaborations, product development, mergers and acquisitions, joint ventures and expansion.
- In March 2017, In 2017, RUSAL expanded its aluminum value-added products output by adding a “Properzi” rolling mill into operation at its Kandalaksha Aluminium Smelter facility. The company invested USD 19.8 million in the new equipment capable of producing 50 KT aluminum value-added products per annum.
- In December 2016, RUSAL entered into an agreement with ELKA-Cable, manufacturer of cable and wire products to start a joint production unit for manufacturing of cables and wire. The new plant will be set up within RUSAL’s Bogoslovsk aluminum smelter (BAZ) site under the name of Bogoslovsk Cable Plant. With this joint venture, RUSAL enhanced its presence in the cables & wires sector.
- In July 2016, RUSAL entered into a joint venture agreement with HEBEI JOY SENCE CABLE, a leading Chinese manufacturer of aluminum alloy cables. The joint venture, JSC RUSAL-HEBEI JOY SENSE CABLE Special Aluminium Products Co. Ltd. Through this development, the company manufactures modern power supply, including high-temperature cables for overhead transmission lines made of aluminum-zirconium alloy.
Market Segmentation
Global Aluminium Metals Market, by Type
- Primary Aluminium
- Recycled Aluminium
Global Aluminium Metals Market, by Application
- Automotive & Transportation
- Construction
- Foil & Packaging
- Electrical
- Machinery & Equipment
- Consumer Goods
- Others
Global Aluminium Metals Market, by Region
- North America
- US
- Canada
- Latin America
- Europe
- Germany
- UK
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
- Middle East & Africa
Available Additional Customizations
- Company Profiles of Other Key Players with SWOT analysis Hindalco Industries Limited
- Vedanta Limited
- NALCO
- Aluminum Bahrain
- Aluminum Metals market PESTEL analysis
Intended Audience
- Aluminum metal manufacturers
- Raw material suppliers
- Suppliers and traders
- Government, associations, and industrial bodies
- Investors and trade experts
- End users
Frequently Asked Questions (FAQ) :
The aluminium metals market is predicted to grow at a 5.33% CAGR between 2017-2025.
The global aluminium metals market is predicted to touch USD 129.6 million by 2025.
Asia Pacific is predicted to dominate the aluminium metals market.
Growing demand for aluminium in the automotive, aerospace, rail, and marine industries are boosting market growth.
Key players have used strategies such as collaborations, product launches, partnerships, and mergers to create a niche in the market.
