The global aluminium market is anticipated to expand at substantial CAGR during the forecast period, between 2021 and 2028. Aluminium is a silvery-white element which is non-magnetic, light weight, and ductile in nature. It is the most abundant metal in Earth’s crust and generally found in combined form with other metals and non-metals. Its impressive properties such as light weight, high conductivity, imperviousness to dust, malleability, and ductility makes it the second ranked metal in terms of consumption volume, after steel. It is used in a variety of products, including foils, cans, high-rise buildings, sports equipment, food packaging, and airplane parts. In addition, it is frequently used in electrical transmission lines and propellant in space shuttle due to its high electrical conductivity and high volumetric energy density, respectively.
Market Trends, Drivers, Restraints, and Opportunities:
- Advancements in transport industry and continuous innovations to develop cheaper and effective aluminium products are some factors, fueling the market.
- Increasing demand from electric vehicle manufacturers and technological advancements in aluminium manufacturing processes is expected to drive the demand for aluminium in the coming years.
- Fluctuations in prices of raw materials and implementation of stricter environmental regulations are expected to hamper the market growth.
- Growing demand from automotive manufactures for replacing stainless steel with aluminium is anticipated to provide lucrative opportunities for market players during the forecast period.
Scope of the report:
The report on aluminium market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Aluminium Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018–2019
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Forecast Period
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2021–2028
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Segmentation
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Processing Methods (Extruding, Rolling, Casting, Drawn, And Forging), Product Types (Extruded Products, Flat Products, Forged Products, Cast Products, And Long Products), Applications (Construction, Transport, Electrical & Electronics, Equipment & Machinery, Packaging, Foil Stock, And Consumer Durables)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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RusAL; Chalco; Rio Tinto; China Hongqiao Group; Alcoa; Cast Products, Inc.; Emirates Global Aluminium PJSC.; Xinfa Group Cp., Ltd.; Norsk Hydro ASA; and East Hope Group.
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Aluminium Market Segment Insights:
The rolling segment is projected to hold significant market share
In terms of processing methods, the aluminium market can be segregated into extruding, rolling, casting, drawn, and forging. The rolling segment held a considerable share of the market in 2020 owing to excellent properties of rolled aluminium products such as lightness, strength, and durability. The rolling processing method is used for making products such as sheet, foil and plate. These products can be rolled to the desired thickness and can be used for diverse industrial applications.
The extruded products segment held substantial market share in 2020
Based on product types, the aluminium market can be fragmented into extruded products, flat products, forged products, cast products, and long products. The extruded products segment constituted a significant market share in 2020 and is projected to expand at a rapid rate during the forecast period. Extruded products are used in a variety of applications such as air conditioning, heat sink, radiators, and electronics. Rising government investment on residential projects and infrastructure development is fueling the product demand.
The transport segment to grow during the forecast period
On the basis of applications, the market can be segregated into construction, transport, electrical & electronics, equipment & machinery, packaging, foil stock, and consumer durables. The transport segment is expected to hold a significant share of the market during the forecast period due to increasing adoption of aluminium in vehicles owning to its light weight nature and superior physical properties. The electrical & electronics segment is anticipated to grow at a significant CAGR due to increasing demand for electronic products such as mobiles and laptops.
Asia Pacific dominates the global market
In terms of regions, the global aluminium market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific constituted a significant share of the market in 2020 due to mergers and acquisitions conducted by key market players. Moreover, growing construction sector and massive urbanization are driving the market in Asia Pacific.
Segments
Process Methods
- Extruding
- Rolling
- Casting
- Drawn
- Forging
Product Types
- Extruded Products
- Flat Products
- Forged Products
- Cast Products
- Long Products
Applications
- Construction
- Transport
- Electrical & Electronics
- Equipment & Machinery
- Packaging
- Foil Stock
- Consumer Durables
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
Key Players
- RusAL
- Chalco
- Rio Tinto
- China Hongqiao Group
- Alcoa
- Cast Products, Inc.
- Emirates Global Aluminium PJSC.
- Xinfa Group Cp., Ltd.
- Norsk Hydro ASA
- East Hope Group
Competitive Landscape
Key players in the aluminium market include RusAL; Chalco; Rio Tinto; China Hongqiao Group; Alcoa; Cast Products, Inc.; Emirates Global Aluminium PJSC.; Xinfa Group Cp., Ltd.; Norsk Hydro ASA; and East Hope Group. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to strengthen their geographical presence.
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