Aluminum Market, By Product, By Processing, By Application, By Geography

Description

The global aluminum market is estimated to be valued at USD 244.79 Bn in 2024 and is expected to reach USD 380.40 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 244.79 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	6.50%	2031 Value Projection:	US$ 380.40 Bn

Figure. Aluminum Market Share (%), By Region 2024

The global aluminum market has experienced steady growth over the past few decades driven by increasing industrialization and urbanization worldwide. Aluminum finds wide application in various end-use industries, such as transportation, construction, packaging, electrical, and others, owing to its corrosion resistance, light weight, and other beneficial properties. Rapid growth in the building and construction activities across developing economies of Asia Pacific and the Middle East & Africa has significantly boosted the demand for aluminum in recent years. Moreover, strict fuel efficiency and emission norms enforced by regulating authorities have compelled automobile manufacturers to increasingly use aluminum instead of other metals to reduce vehicle weight, thereby propelling the market growth. However, rising raw material costs and growing environmental concerns associated with aluminum production are some of the key factors expected to hamper the market growth during the forecast period.

Market Dynamics:

The key drivers influencing the growth of the global aluminum market include rapid industrialization and infrastructural development activities majorly across emerging economies, stringent fuel efficiency and emission norms favoring increased aluminum usage in automotive industry, growing consumption in electrical and packaging applications. However, factors such as volatile prices of raw materials required for aluminum production coupled with rising energy costs and growing environmental concerns associated with aluminum production are expected to restraint the market growth. On the positive side, technological advancements in aluminum recycling and production processes along with increasing R&D activities aimed at expanding aluminum application scope present lucrative opportunities for market players over the coming years.

Key features of the study:

This report provides in-depth analysis of the global aluminum market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global aluminum market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Alcoa Corporation, Rio Tinto, Rusal Company, Norsk Hydro A.S.A., Emirates Global Aluminium PJSC, Century Aluminum Company, Vedanta Ltd., Chalco, China Hongqiao Group Limited, Hindalco Industries Ltd., Novelis, Xinfal, East Hope Group, Jindal Aluminium Limited, GAL Aluminium Extrusions Pvt. Ltd, Maan Aluminium Ltd, Aluka Extrusion, Kaiser Aluminum, and NALCO India
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global aluminum market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global aluminum market

Detailed Segmentation-

By Product:
- Flat Rolled
- Castings
- Extrusions
- Forgings
- Pigments & Powder
- Rod & Bar
By Processing:
- Rolling
- Extruding
- Drawn
- Casting
- Forging
By Application:
- Transport
- Construction
- Electrical & Electronics
- Packaging
- Equipment & Machinery
- Consumer Durables
- Foil stock
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- Alcoa Corporation
- Rio Tinto
- Rusal Company
- Norsk Hydro A.S.A.
- Emirates Global Aluminium PJSC
- Century Aluminum Company
- Vedanta Ltd.
- Chalco
- China Hongqiao Group Limited
- Hindalco Industries Ltd.
- Novelis
- Xinfal
- East Hope Group
- Jindal Aluminium Limited
- GAL Aluminium Extrusions Pvt. Ltd
- Maan Aluminium Ltd
- Aluka Extrusion
- Kaiser Aluminum
- NALCO India

Product Code: CMI3159

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Global Aluminum Market, By Product
- Global Aluminum Market, By Processing
- Global Aluminum Market, By Application
- Global Aluminum Market, By Region

3. Global Aluminum Market, By Product, 2024-2031, (USD)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Flat Rolled
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Castings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Extrusions
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Forgings
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Pigments & Powder
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Rod & Bar
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)

4. Global Aluminum Market, By Processing, 2024-2031, (USD)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Rolling
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Extruding
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Drawn
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Casting
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Forging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)

5. Global Aluminum Market, By Application, 2024-2031, (USD)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Transport
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Construction
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Electrical & Electronics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Packaging
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Equipment & Machinery
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Consumer Durables
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Foil stock
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)
Others
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD)

6. Competitive Landscape

Market Share Analysis
Company Profiles
- Alcoa Corporation
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Rio Tinto
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Rusal Company
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Norsk Hydro A.S.A.
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Emirates Global Aluminium PJSC
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Century Aluminum Company
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Vedanta Ltd.
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Chalco
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- China Hongqiao Group Limited
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Hindalco Industries Ltd.
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
- Strategies
  - Novelis
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Xinfal
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- East Hope Group
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Jindal Aluminium Limited
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- GAL Aluminium Extrusions Pvt. Ltd
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Maan Aluminium Ltd
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Aluka Extrusion
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- Kaiser Aluminum
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies
- NALCO India
  - Company Highlights
  - Product Portfolio
  - Key Developments
  - Financial Performance
  - Strategies

7. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

8. References and Research Methodology

References
Research Methodology
About us

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