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The global aluminium market is dominated by the transport and the construction segments. The increasing demand from these segments is aiding the demand growth for aluminium. The Asia Pacific region and the Americas are significant regional markets in the industry. The Asia Pacific region is one of the largest producers of aluminium, along with Canada, Russia, and the United Arab Emirates. China is the leading producer within the Asia Pacific region as well as a significant consumer of aluminium. Apart from China, India is witnessing an increased demand for aluminium supported by its rising construction as well as transportation sector.
Another major producer and exporter of aluminium is Australia. The downstream industry for the product is driving the market growth in the region. The nation produces a significant volume of alumina and bauxite. Within the country, packaging, construction, and non-ferrous manufacturing account for the largest share of the end-use industry. The increasing demand for aluminium in the United States and some European nations is also propelling the market growth for aluminium. The countries significantly use the product for manufacturing aircraft.
In May 2018, Alcoa Corporation (NYSE: AA) and Rio Tinto (NYSE: RIO), major players in the aluminium market, joined hands for a venture called Elysis, where they will undertake the first ever carbon-free aluminium smelting process. An investment of nearly USD 188 million (CAD) has been put into the project by Alcoa, Rio Tinto, the Government of Canada, the Government of Quebec, and Apple.Alcoa, a United States-based company, is one of the largest producers of aluminium and aluminium products in the world. Its joint venture with Rio Tinto is expected to further add to the growth of the aluminium market globally.
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The major players in the global aluminium market include China Hongqiao Group Limited, Aluminum Corporation of China Limited, Rusal, Rio Tinto Limited, Emirates Global Aluminium PJSC (EGA), Alcoa Corporation, East Hope Group, and Norsk Hydro ASA among others. The comprehensive report by EMR covers their market share, capacity, and latest developments like mergers and acquisitions, and capacity expansions.
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