Global Aluminium Market is Expected to Grow at a CAGR of 5.65% in the Forecast Period of 2024-2032

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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Market Analysis by Type, Processing Method, End Use, and Region:

• Primary and secondary are the major types of aluminium in the market.
• On the basis of processing method, the market is segmented into flat rolled, castings, extrusions, forgings, pigments and powder, rod and bar, and sheet, among others.
• Based on end use, the market can be divided into transport, construction, electrical, machinery and equipment, packaging and foil, and consumer goods, 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 (2018-2023) and (2024-2032).
• The report also offers the historical (2018-2023) and forecast (2024-2032) 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 RusAL, Chalco Aluminum Co. Ltd, Rio Tinto plc, China Hongqiao Group Co., Ltd., Alcoa Corporation, Emirates Global Aluminium PJSC, Shandong Xinfa Aluminum Co., Ltd., Norsk Hydro ASA, Vedanta Limited, and Hindalco Industries Limited, 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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