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Global Aluminium Market is Expected to Grow at a CAGR of 3.63% in the Forecast Period of 2022-2027.

According to a new report by EMR titled, ‘Global Aluminium Market Report and Forecast 2022-2027, the global aluminium market reached a volume of 68.6 million metric tons in 2020. The market is likely to increase at a CAGR of 3.63% in the forecast period of 2022-2027 to reach a volume of approximately 85 million metric tons by 2026.

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.

Market Analysis by Types, Applications, and Regions:

  • Primary and recycled are the major types of aluminium in the market.
  • Based on application, the market can be divided into transport, construction, electrical, packaging and foil, and consumer goods sectors, among others. 
  • The regional markets include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The aluminium market is being driven by the growing demand from the end-use industries.
  • The increasing use of aluminium for making aircraft is driving the market growth.
  • The growing transportation and automobiles industries are boosting the demand for aluminium.
  • The rising advancements in technology are also driving the market further.
  • The replacement of steal with aluminium sheets is providing further impetus to the market growth.
  • The increasing application of aluminium in electronic and light-weight vehicles is propelling the demand growth further.

Key Offerings of the Report:

  • The EMR report gives an overview of the global aluminium market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the major regions.
  • The EMR report provides the regional price analysis and global trade analysis of the market.

The major players in the global aluminium market include China Hongqiao Group Limited, Aluminum Corporation of China Limited, Rio Tinto, Emirates Global Aluminium PJSC, Alcoa Corporation, United Company RUSAL Plc, 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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over a 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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