As per MRFR Analysis, the Global Aluminium Metals Market was valued at USD 150 Billion in 2022 and is projected to grow to USD 250 Billion by 2030, with a CAGR of 6.00% from 2023 to 2030. The market is driven by the aerospace sector's demand for aluminium due to its lightweight, strength, and corrosion resistance. The rise in consumer spending is expected to further boost demand across various applications, including automotive, construction, and packaging. The Recycled Aluminium segment is gaining traction due to environmental concerns, while the Automotive & Transportation segment is anticipated to be the fastest-growing application during the forecast period.
Key trends influencing the Aluminium Metals market include rising consumer spending and innovative market initiatives.
Major players include Alcoa Corporation, Rio Tinto, RUSAL, Norsk Hydro A.S.A., Dubai Aluminum Company Limited, and Vedanta Ltd.
Rising consumer spending can potentially boost the aluminum metal market. This is because aluminum is used in a wide range of consumer products, including packaging, appliances, and electronics. When consumers have more money to spend, they may be more likely to purchase these products, which in turn could increase demand for aluminum.
Additionally, rising consumer spending can also stimulate economic growth, which can lead to increased demand for aluminum in other industries such as construction and transportation. As these industries grow and expand, they may require more aluminum for their operations, which could further boost demand for the metal. However, it's worth noting that consumer spending is just one of many factors that can influence the aluminum market. Other factors, such as economic conditions, changes in supply and demand, and shifts in industry trends, can also have a significant impact on the price and demand for aluminum. . Therefore, such factors related to Aluminium Metals have enhanced the Aluminium Metals market CAGR across the globe in recent years.
In 2024, Vedanta Aluminium, India's largest aluminium manufacturer, will debut Vedanta Metal Bazar—an innovative new e-superstore for primary aluminium that aims to alter the country's aluminium buying and selling practices. Vedanta Aluminium has mega-production (manufacturing) plants at Korba, Chhattisgarh, and Jharsuguda, Odisha. The superstore has over 750 product varieties, covering a wide spectrum of offerings, including AI-based pricing discovery in the face of variable commodity prices.
The Aluminium Metals market segmentation, based on type, includes Primary Aluminium and Recycled Aluminium. The Recycled Aluminium segment held the majority share in 2022 of the Aluminium Metals market revenue. The recycled aluminum segment has been growing in popularity in recent years due to increasing environmental concerns and the desire to reduce waste. Recycled aluminum is often less expensive to produce than new aluminum, and it can also have lower carbon emissions, making it a more sustainable choice.
Based on application, the Aluminium Metals market segmentation includes Automotive & Transportation, Construction, Foil & Packaging, Electrical, Machinery & Equipment, Consumer Goods and others. The Automotive & Transportation segment dominated the market in 2022 and is projected to be the faster-growing segment during the forecast period, 2023-2030. The automotive and transportation industry has traditionally been a major consumer of aluminum due to its lightweight, strong, and corrosion-resistant properties. As the industry continues to evolve and shift towards more electric and autonomous vehicles, the demand for aluminum in this sector is likely to continue to grow. These all factors for Aluminium Metals positively impact the market growth.
Figure 2: Aluminium Metals Market, by Type, 2022 & 2030 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The Asia Pacific region has traditionally been the largest market for aluminum, driven by strong demand from countries such as China, India, and Japan. These countries have significant industrial and construction sectors that require large quantities of aluminum for a variety of applications.
Further, the major countries studied in the market report are The U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Figure 3: ALUMINIUM METALS MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s Aluminium Metals market accounts for the third-largest market share, driven by industries such as transportation, construction, and packaging. Europe has a well-developed automotive industry, which is a major consumer of aluminum for the production of lightweight vehicles. Additionally, there is a growing trend towards sustainability and the use of recycled materials in Europe, which has also led to increased demand for recycled aluminum. Further, the Germany Aluminium Metals market held the largest market share, and the UK Aluminium Metals market was the fastest-growing market in the European region.
North America, Aluminium Metals market, is expected to grow at the fastest CAGR from 2023 to 2030. The demand for aluminum in North America is driven by industries such as automotive, construction, and packaging. The United States is the largest consumer of aluminum in North America, followed by Canada and Mexico. Moreover, the U.S. Aluminium Metals market held the largest market share, and the Canada Aluminium Metals market was the fastest-growing market in the North American region.
Major market players are spending a lot of money on R&D to increase their product lines, which will help the Aluminium Metals market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, with key market developments such as new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the Aluminium Metals industry must offer cost-effective items to expand and survive in an increasingly competitive and rising market environment.
The major market players are investing a lot of money in R&D to expand their product lines, which will spur further market growth for Aluminium Metals. With significant market development like new product releases, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations, market participants are also undertaking various strategic activities to expand their presence. To grow and thrive in a market climate that is becoming more competitive and growing, competitors in the Aluminium Metals industry must offer affordable products.
Manufacturing locally to cut operating costs is one of the main business tactics manufacturers use in the Aluminium Metals industry to benefit customers and expand the market sector. Major Aluminium Metals market players, including Alcoa Corporation, Rio Tinto, RUSAL, Norsk Hydro A.S.A., Dubai Aluminum Company Limited, Aluminum Bahrain B.S.C., Century Aluminum Company, Vedanta Ltd., China Aluminum Corporation, Sierra Aluminum, H.P., East Hope Group, Emirates Aluminum, and others, are attempting to increase market demand by funding R&D initiatives.
Alcoa Corporation is a Pittsburgh-based company that produces and sells bauxite, alumina, and aluminum products worldwide. The company has a diverse portfolio of products and services that cater to various industries, including aerospace, automotive, construction, packaging, and consumer goods. The company has a strong commitment to sustainability, and its products and processes are designed to minimize environmental impact.
Rio Tinto is a mining and metals company. The company produces and sells a range of metals and minerals, including aluminum, copper, diamonds, gold, and iron ore. Rio Tinto's aluminum business operates throughout the entire value chain, from mining bauxite to producing alumina and smelting aluminum. The company's aluminum products are used in a wide range of industries, including transportation, construction, and packaging.
RUSAL
Norsk Hydro A.S.A.
Dubai Aluminum Company Limited
Aluminum Bahrain B.S.C.
Century Aluminum Company
China Aluminum Corporation
Sierra Aluminum
H.P
East Hope Group
Emirates Aluminum among others
February 2022: Sierra Aluminum announced the expansion of its anodizing, painting, and extrusion capacity by adding a greenfield unit in Mexicali, Mexico, and investments in its California facilities.
January 2022: Romanian aluminum developer, Alro announced that it aims to resume electrolytic aluminum production by 2023.
July 5, 2023: Alcoa, the world's largest aluminum producer, announced that it would be cutting production at some of its smelters due to high energy costs. This is expected to further reduce the global supply of aluminum and put upward pressure on prices.
Primary Aluminium
Recycled Aluminium
Automotive & Transportation
Construction
Foil & Packaging
Electrical
Machinery & Equipment
Consumer Goods
Others
| Attribute/Metric | Details |
| Market Size 2022 | USD 150 Billion |
| Market Size 2023 | USD 175 Billion |
| Market Size 2030 | USD 250 Billion |
| Compound Annual Growth Rate (CAGR) | 6.00% (2023-2030) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2030 |
| Historical Data | 2018 & 2020 |
| Market Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Alcoa Corporation, Rio Tinto, RUSAL, Norsk Hydro A.S.A., Dubai Aluminum Company Limited, Aluminum Bahrain B.S.C., Century Aluminum Company, Vedanta Ltd., China Aluminum Corporation, Sierra Aluminum, H.P., East Hope Group, Emirates Aluminum |
| Key Market Opportunities | The aluminium metals industry is characterized by the semiconductor manufacturing explosion and is observed |
| Key Market Dynamics | Public transportation, construction sector, packaging, and electrical industries are major consumers |
Aluminium Metals Market Highlights:
Frequently Asked Questions (FAQ) :
The Aluminium Metals market size was valued at USD 150 Billion in 2022
The market is projected to grow at a CAGR of 6.00% during the forecast period, 2023-2030
Asia Pacific had the largest share in the Aluminium Metals market.
The key players in the market are Alcoa Corporation, Rio Tinto, RUSAL, Norsk Hydro A.S.A., Dubai Aluminum Company Limited, Aluminum Bahrain B.S.C., Century Aluminum Company, Vedanta Ltd., China Aluminum Corporation, Sierra Aluminum, H.P., East Hope Group, Emirates Aluminum
The recycled aluminum category dominated the market in 2022
Automotive & transportation had the largest share in the market for Aluminium Metals
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Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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