Market by Product, Industry Vertical, and Regional Outlook | Forecast 2023-2030
Aluminum is one of the
lightest engineering metals, with a strength-to-weight ratio that is higher
than steel. It is extracted from bauxite. It is a conductor of both electricity
and heat and is also a good reflector of light and heat. The metal is also
corrosion-resistant. Various other such properties of aluminum make it useful
in different industries, including food preparation, architecture, transport,
energy generation, packaging, and electrical transmission applications.
According to the analysis by Triton Market Research, the Global
Aluminum Market is likely to reach $221113.42 million by 2030, from $146054.04
million in 2022, with a CAGR of 5.24% during the forecast period
2023-2030.
Click here to check out our blog on the Global Aluminum Market
MARKET PERFORMANCE: DRIVERS, CHALLENGES, AND OPPORTUNITIES
Increased
substitution of stainless steel with aluminum by
automotive companies
is expected to drive the market growth
during the forecast period. Automotive manufacturers, such as Jaguar,
Mercedes, and BMW, are largely opting for aluminum as a substitute for
stainless steel because of its low weight and similar properties. It has become
the material of choice as it supports OEMs’ light weighting requirements. The
large-scale adoption of aluminum in the automotive & transportation
industry is anticipated to bolster the growth of the studied market over the
forecast period.
However,
factors such as stringent environmental regulations by government bodies and the
rising prices of aluminum are expected to hamper the market growth. There
has been a consistent increase in the price of aluminum owing to its high
demand from different industries, including packaging, electrical, & construction,
and products, such as beer cans. The high cost of aluminum is expected to deter
them from using the metal, thus hampering the growth of the market.
The widening applications of aluminum in the sustainable energy industry are expected to create opportunities for the studied market. The metal is a critical component in low-carbon technologies, including energy storage, wind and hydroelectricity. Aluminum is gaining market traction because of its recyclability. The efforts to combat climate change are anticipated to augment the demand for aluminum over the forecast period.
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KEY GEOGRAPHIES COVERED:
• North America: United States and Canada
• Europe: United Kingdom, France,
Germany, Spain, Italy, The Netherlands, Poland, Norway, and Rest of Europe
• Asia-Pacific: China, Japan, India,
Australia & New Zealand, South Korea, Taiwan, ASEAN Countries, and Rest of
Asia-Pacific
• Latin America: Brazil, Mexico, and Rest
of Latin America
• Middle East and Africa: Saudi Arabia,
Turkey, United Arab Emirates, South Africa, and Rest of Middle East &
Africa
SEGMENTATION ANALYSIS – ALUMINUM MARKET:
• Market by
Product:
o Alumina
o Bauxite
o Primary Aluminum
o Other Products
Bauxite
is anticipated to be the fastest-growing product, with a CAGR of 5.67% during
the forecast period. Bauxite is the major raw
material for the primary aluminum market. It is also used in non-metallurgical
applications, such as cement, refractory, abrasive, steel making, and
chemicals. The demand for bauxite is expected to increase during the forecast
period owing to the rising use of primary aluminum.
• Market by
Industry Vertical:
o Automotive & Transportation
o Building & Construction
o Electronics
o Foil & Packaging
o Other Industry Verticals
Automotive
& Transportation held the dominant share of 27.93% in the industry vertical
segment in 2022. Aluminum has become a key manufacturing
material in the automotive & transportation industry. The metal is used in
the manufacturing of cars, trains, aircraft, ships, and others. The properties
of aluminum, such as strength and ease of welding, play a crucial role in the
transportation & automotive industry. Rising automotive production and
growing demand for EVs are expected to drive the segment’s growth.
COMPETITIVE LANDSCAPE:
The competitive
landscape helps dive into data about the key players in the aluminum market.
The strategic initiatives for each of the companies considered have been
covered in detail.
Business Expansion (April 2022): Norsk Hydro ASA
Hydro began the
construction of its state-of-the-art aluminum recycling plant in Cassopolis,
Michigan. The plant will produce nearly 120,000 metric tons of recycled
aluminum annually.
Product
Development (April 2021): RUSAL
RUSAL announced the
launch of its new brand, named ScАlution. Under this brand, the company
produces an entire range of aluminum-scandium products, including slabs,
billets, master alloys, as well as wire and powders for additive technologies.
KEY BENEFITS OF THE REPORT:
· Triton Market Research has a collective experience of 25-30 years in the industry, with its analysts and experts encompassing the most infallible research methodology for its market intelligence and industry analysis.
· Our research methodology helps in achieving a broader consensus of the market size, shape, and industry trends within each industry segment.
· The strategy adopted in designing the research methodology includes the amalgamation of the information assembled from primary and secondary sources, with the assistance of analytical tools to construct the forecast and predictive models.
·
The scope of the market report
comprises the current scenario of the global aluminum market, along with the
detailed overview of the industry outlook, market dynamics, segmentation
analysis, regional outlook, and competitive landscape for the period 2023-2030.
FAQs:
Q 1) What are the applications of aluminum in the foil
& packaging industry?
The ability of aluminum
to form the desired shape, as well as its protective qualities, have made it
one of the most versatile packaging materials in the world. The major advantage
of using aluminum foils, cans, and other packaging materials is that these
products can be fully recycled and reused multiple times.
Q 2) Which country is expected to showcase the fastest
growth rate in the global aluminum market?
India is expected to
showcase the fastest growth rate globally, with a CAGR of 6.54% over the
forecasted duration.
Q 3) What are the uses of alumina?
Alumina finds
application in electronics substrates, ballistic armor, abrasives, glass
manufacturing, furnace liner tubes, high voltage insulators, seal rings, thread
& wire guides, laboratory instrument tubes, ceramics, and others. It is
also the preferred material for various biomedical applications.
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VIEW REPORT1. GLOBAL
ALUMINUM MARKET – SUMMARY
2. INDUSTRY
OUTLOOK
2.1. COVID-19
IMPACT ON THE ALUMINUM MARKET
2.2. MARKET
MATURITY ANALYSIS
2.3. PORTER’S
FIVE FORCES ANALYSIS
2.3.1. THREAT
OF NEW ENTRANTS
2.3.2. THREAT
OF SUBSTITUTES
2.3.3. BARGAINING
POWER OF BUYERS
2.3.4. BARGAINING
POWER OF SUPPLIERS
2.3.5. THREAT
OF COMPETITIVE RIVALRY
2.4. INDUSTRY
COMPONENTS
2.4.1. RAW
MATERIAL PROCUREMENT
2.4.2. ALUMINUM
PRODUCTION
2.4.3. END-USERS
2.5. REGULATORY
FRAMEWORK
2.6. KEY
BUYING IMPACT ANALYSIS
2.6.1. STRENGTH
OF PRODUCT
2.6.2. PRODUCT
RECYCLABILITY
2.6.3. CORROSION
RESISTANCE
2.7. KEY
MARKET STRATEGIES
2.7.1. COLLABORATIONS
2.7.2. PRODUCT
LAUNCHES
2.7.3. MERGERS
& ACQUISITIONS
2.7.4. BUSINESS
DIVESTITURES & EXPANSIONS
2.8. MARKET
DRIVERS
2.8.1. RISING
DEMAND FROM VARIOUS END-USE INDUSTRIES
2.8.2. SUBSTITUTION
OF STAINLESS STEEL WITH ALUMINUM BY AUTOMOTIVE MANUFACTURERS
2.8.3. RISING
ADOPTION OF ELECTRIC VEHICLES
2.9. MARKET
CHALLENGES
2.9.1. STRICT
ENVIRONMENTAL REGULATIONS BY AUTHORITIES
2.9.2. RISING
COST OF ALUMINUM
2.10. MARKET
OPPORTUNITIES
2.10.1. MULTIPLE
APPLICATIONS OF ALUMINUM IN THE SUSTAINABLE ENERGY INDUSTRY
2.10.2. TECHNOLOGICAL
ADVANCEMENTS
2.10.3. RECYCLABILITY
OF ALUMINUM GAINING MARKET TRACTION
2.10.4. GROWING
PENETRATION IN THE CONSUMER ELECTRONICS INDUSTRY
2.10.5. RISING
USE OF ALUMINUM IN THE TRANSPORTATION INDUSTRY
2.10.6. GROWING
POPULARITY OF ALUMINUM FOAM
2.11. ANALYST
PERSPECTIVE
3. GLOBAL
ALUMINUM MARKET – BY PRODUCT
3.1. ALUMINA
3.2. BAUXITE
3.3. PRIMARY
ALUMINUM
3.4. OTHER
PRODUCTS
4. GLOBAL
ALUMINUM MARKET – BY INDUSTRY VERTICAL
4.1. AUTOMOTIVE
& TRANSPORTATION
4.2. BUILDING
& CONSTRUCTION
4.3. ELECTRONICS
4.4. FOIL
& PACKAGING
4.5. OTHER
INDUSTRY VERTICALS
5. GLOBAL
ALUMINUM MARKET – REGIONAL OUTLOOK
5.1. NORTH
AMERICA
5.1.1. MARKET
BY PRODUCT
5.1.2. MARKET
BY INDUSTRY VERTICAL
5.1.3. COUNTRY
ANALYSIS
5.1.3.1. UNITED
STATES
5.1.3.1.1. UNITED
STATES ALUMINUM MARKET FORECAST & PROSPECTS
5.1.3.2. CANADA
5.1.3.2.1. CANADA
ALUMINUM MARKET FORECAST & PROSPECTS
5.2. EUROPE
5.2.1. MARKET
BY PRODUCT
5.2.2. MARKET
BY INDUSTRY VERTICAL
5.2.3. COUNTRY
ANALYSIS
5.2.3.1. UNITED
KINGDOM
5.2.3.1.1. UNITED
KINGDOM ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.2. GERMANY
5.2.3.2.1. GERMANY
ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.3. FRANCE
5.2.3.3.1. FRANCE
ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.4. ITALY
5.2.3.4.1. ITALY
ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.5. SPAIN
5.2.3.5.1. SPAIN
ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.6. THE
NETHERLANDS
5.2.3.6.1. THE
NETHERLANDS ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.7. POLAND
5.2.3.7.1. POLAND
ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.8. NORWAY
5.2.3.8.1. NORWAY
ALUMINUM MARKET FORECAST & PROSPECTS
5.2.3.9. REST
OF EUROPE
5.2.3.9.1. REST
OF EUROPE ALUMINUM MARKET FORECAST & PROSPECTS
5.3. ASIA-PACIFIC
5.3.1. MARKET
BY PRODUCT
5.3.2. MARKET
BY INDUSTRY VERTICAL
5.3.3. COUNTRY
ANALYSIS
5.3.3.1. CHINA
5.3.3.1.1. CHINA
ALUMINUM MARKET FORECAST & PROSPECTS
5.3.3.2. JAPAN
5.3.3.2.1. JAPAN
ALUMINUM MARKET FORECAST & PROSPECTS
5.3.3.3. INDIA
5.3.3.3.1. INDIA
ALUMINUM MARKET FORECAST & PROSPECTS
5.3.3.4. SOUTH
KOREA
5.3.3.4.1. SOUTH
KOREA ALUMINUM MARKET FORECAST & PROSPECTS
5.3.3.5. TAIWAN
5.3.3.5.1. TAIWAN
ALUMINUM MARKET FORECAST & PROSPECTS
5.3.3.6. ASEAN
COUNTRIES
5.3.3.6.1. ASEAN
COUNTRIES ALUMINUM MARKET FORECAST & PROSPECTS
5.3.3.7. AUSTRALIA
& NEW ZEALAND
5.3.3.7.1. AUSTRALIA
& NEW ZEALAND ALUMINUM MARKET FORECAST & PROSPECTS
5.3.3.8. REST
OF ASIA-PACIFIC
5.3.3.8.1. REST
OF ASIA-PACIFIC ALUMINUM MARKET FORECAST & PROSPECTS
5.4. LATIN
AMERICA
5.4.1. MARKET
BY PRODUCT
5.4.2. MARKET
BY INDUSTRY VERTICAL
5.4.3. COUNTRY
ANALYSIS
5.4.3.1. BRAZIL
5.4.3.1.1. BRAZIL
ALUMINUM MARKET FORECAST & PROSPECTS
5.4.3.2. MEXICO
5.4.3.2.1. MEXICO
ALUMINUM MARKET FORECAST & PROSPECTS
5.4.3.3. REST
OF LATIN AMERICA
5.4.3.3.1. REST
OF LATIN AMERICA ALUMINUM MARKET FORECAST & PROSPECTS
5.5. MIDDLE
EAST AND AFRICA
5.5.1. MARKET
BY PRODUCT
5.5.2. MARKET
BY INDUSTRY VERTICAL
5.5.3. COUNTRY
ANALYSIS
5.5.3.1. UNITED
ARAB EMIRATES
5.5.3.1.1. UNITED
ARAB EMIRATES ALUMINUM MARKET FORECAST & PROSPECTS
5.5.3.2. TURKEY
5.5.3.2.1. TURKEY
ALUMINUM MARKET FORECAST & PROSPECTS
5.5.3.3. SAUDI
ARABIA
5.5.3.3.1. SAUDI
ARABIA ALUMINUM MARKET FORECAST & PROSPECTS
5.5.3.4. SOUTH
AFRICA
5.5.3.4.1. SOUTH
AFRICA ALUMINUM MARKET FORECAST & PROSPECTS
5.5.3.5. REST
OF MIDDLE EAST & AFRICA
5.5.3.5.1. REST
OF MIDDLE EAST & AFRICA ALUMINUM MARKET FORECAST & PROSPECTS
6. COMPETITIVE
LANDSCAPE
6.1. RIO
TINTO
6.1.1. OVERVIEW
6.1.2. PORTFOLIO
6.1.3. KEY
STRENGTHS
6.1.4. KEY
CHALLENGES
6.2. ALUMINUM
CORPORATION OF CHINA LIMITED (CHALCO)
6.2.1. OVERVIEW
6.2.2. PORTFOLIO
6.2.3. KEY
STRENGTHS
6.2.4. KEY
CHALLENGES
6.3. RUSAL
6.3.1. OVERVIEW
6.3.2. PORTFOLIO
6.3.3. KEY
STRENGTHS
6.3.4. KEY
CHALLENGES
6.4. ALCOA
CORPORATION
6.4.1. OVERVIEW
6.4.2. PORTFOLIO
6.4.3. KEY
STRENGTHS
6.4.4. KEY
CHALLENGES
6.5. NORSK
HYDRO ASA
6.5.1. OVERVIEW
6.5.2. PORTFOLIO
6.5.3. KEY
STRENGTHS
6.5.4. KEY
CHALLENGES
6.6. EMIRATES
GLOBAL ALUMINUM PJSC
6.6.1. OVERVIEW
6.6.2. PORTFOLIO
6.6.3. KEY
STRENGTHS
6.6.4. KEY
CHALLENGES
6.7. NOVELIS
INC
6.7.1. OVERVIEW
6.7.2. PORTFOLIO
6.7.3. KEY
STRENGTHS
6.7.4. KEY
CHALLENGES
6.8. ALUMINUM
BAHRAIN BSC (ALBA)
6.8.1. OVERVIEW
6.8.2. PORTFOLIO
6.8.3. KEY
STRENGTHS
6.8.4. KEY
CHALLENGES
6.9. CHINA
HONGQIAO GROUP LIMITED
6.9.1. OVERVIEW
6.9.2. PORTFOLIO
6.9.3. KEY
STRENGTHS
6.9.4. KEY
CHALLENGES
6.10. CENTURY
ALUMINUM COMPANY
6.10.1. OVERVIEW
6.10.2. PORTFOLIO
6.10.3. KEY
STRENGTHS
6.10.4. KEY
CHALLENGES
7. RESEARCH
METHODOLOGY & SCOPE
7.1. RESEARCH
SCOPE & DELIVERABLES
7.2. SOURCES
OF DATA
7.3. RESEARCH
METHODOLOGY
TABLE 1: GLOBAL
ALUMINUM MARKET, BY REGIONAL OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 2: REGULATORY
FRAMEWORK
TABLE 3: LIST OF
COLLABORATIONS
TABLE 4: LIST OF
PRODUCT LAUNCHES
TABLE 5: LIST OF
MERGERS & ACQUISITIONS
TABLE 6: LIST OF
BUSINESS DIVESTITURES & EXPANSIONS
TABLE 7: GLOBAL
ALUMINUM MARKET, BY PRODUCT, 2023-2030 (IN $ MILLION)
TABLE 8: GLOBAL
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2023-2030 (IN $ MILLION)
TABLE 9: GLOBAL
ALUMINUM MARKET, BY REGIONAL OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 10: NORTH AMERICA
ALUMINUM MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 11: NORTH AMERICA
ALUMINUM MARKET, BY PRODUCT, 2023-2030 (IN $ MILLION)
TABLE 12: NORTH AMERICA
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2023-2030 (IN $ MILLION)
TABLE 13: EUROPE
ALUMINUM MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 14: EUROPE
ALUMINUM MARKET, BY PRODUCT, 2023-2030 (IN $ MILLION)
TABLE 15: EUROPE
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2023-2030 (IN $ MILLION)
TABLE 16: ASIA-PACIFIC
ALUMINUM MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 17: ASIA-PACIFIC
ALUMINUM MARKET, BY PRODUCT, 2023-2030 (IN $ MILLION)
TABLE 18: ASIA-PACIFIC
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2023-2030 (IN $ MILLION)
TABLE 19: LATIN AMERICA
ALUMINUM MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 20: LATIN AMERICA
ALUMINUM MARKET, BY PRODUCT, 2023-2030 (IN $ MILLION)
TABLE 21: LATIN AMERICA
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2023-2030 (IN $ MILLION)
TABLE 22: MIDDLE EAST
AND AFRICA ALUMINUM MARKET, BY COUNTRY OUTLOOK, 2023-2030 (IN $ MILLION)
TABLE 23: MIDDLE EAST
AND AFRICA ALUMINUM MARKET, BY PRODUCT, 2023-2030 (IN $ MILLION)
TABLE 24: MIDDLE EAST
AND AFRICA ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2023-2030 (IN $ MILLION)
FIGURE 1: INDUSTRY
COMPONENTS
FIGURE 2: KEY BUYING
IMPACT ANALYSIS
FIGURE 3: GLOBAL
ALUMINUM MARKET, BY PRODUCT, 2022 & 2030 (IN %)
FIGURE 4: GLOBAL
ALUMINUM MARKET, BY ALUMINA, 2023-2030 (IN $ MILLION)
FIGURE 5: GLOBAL
ALUMINUM MARKET, BY BAUXITE, 2023-2030 (IN $ MILLION)
FIGURE 6: GLOBAL
ALUMINUM MARKET, BY PRIMARY ALUMINUM, 2023-2030 (IN $ MILLION)
FIGURE 7: GLOBAL
ALUMINUM MARKET, BY OTHER PRODUCTS, 2023-2030 (IN $ MILLION)
FIGURE 8: GLOBAL
ALUMINUM MARKET, BY INDUSTRY VERTICAL, 2022 & 2030 (IN %)
FIGURE 9: GLOBAL
ALUMINUM MARKET, BY AUTOMOTIVE & TRANSPORTATION, 2023-2030 (IN $ MILLION)
FIGURE 10: GLOBAL
ALUMINUM MARKET, BY BUILDING & CONSTRUCTION, 2023-2030 (IN $ MILLION)
FIGURE 11: GLOBAL
ALUMINUM MARKET, BY ELECTRONICS, 2023-2030 (IN $ MILLION)
FIGURE 12: GLOBAL
ALUMINUM MARKET, BY FOIL & PACKAGING, 2023-2030 (IN $ MILLION)
FIGURE 13: GLOBAL
ALUMINUM MARKET, BY OTHER INDUSTRY VERTICALS, 2023-2030 (IN $ MILLION)
FIGURE 14: GLOBAL
ALUMINUM MARKET, REGIONAL OUTLOOK, 2022 & 2030 (IN %)
FIGURE 15: UNITED
STATES ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 16: CANADA
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 17: UNITED
KINGDOM ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 18: GERMANY ALUMINUM
MARKET 2023-2030 (IN $ MILLION)
FIGURE 19: FRANCE
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 20: ITALY
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 21: SPAIN
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 22: THE
NETHERLANDS ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 23: POLAND
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 24: NORWAY
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 25: REST OF
EUROPE ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 26: CHINA
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 27: JAPAN
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 28: INDIA
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 29: SOUTH KOREA
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 30: TAIWAN
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 31: ASEAN
COUNTRIES ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 32: AUSTRALIA
& NEW ZEALAND ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 33: REST OF
ASIA-PACIFIC ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 34: BRAZIL
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 35: MEXICO
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 36: REST OF
LATIN AMERICA ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 37: UNITED ARAB
EMIRATES ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 38: TURKEY
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 39: SAUDI ARABIA
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 40: SOUTH AFRICA
ALUMINUM MARKET 2023-2030 (IN $ MILLION)
FIGURE 41: REST OF
MIDDLE EAST & AFRICA ALUMINUM MARKET 2023-2030 (IN $ MILLION)