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Aluminum Market: By Processing Method By Series By End User Industry and Region Forecast 2019-2030
Aluminum Market: By Processing Method By Series By End User Industry and Region Forecast 2019-2030
Aluminum Market size was valued at US$ 201.1 billion in 2023 and is poised to grow at a significant CAGR of 8.1% from 2024-2030. Aluminum is used to make cans, foils, culinary utensils, window frames, beer kegs, and aeroplane components. Aluminum is chosen for packaging purposes over other materials like glass and plastic due to its unique characteristics like low density, non-toxic, good thermal conductivity, corrosion resistance, and can be cast, machined, and shaped with ease. Players are focused to expand their production capacity by establishing new plants.
For instance, Ball Corporation intends to begin the construction of a new production facility in the Czech Republic to expand to aluminum production capacity. Increasing demand for aluminum from end-user industries, stringent regulations on plastic usage, investments by the companies to enhance the production capacities, and technological advancements in aluminum production are expected to increase the revenue of the market over the forecast years.
Study Period
2024-2030Base Year
2023CAGR
8.1%Largest Market
North-AmericaFastest Growing Market
Asia-Pacific
Increased demand for aluminum in automobile industries and replacing it with the traditional stainless-steel materials in various manufacturing industries has increased the demand for aluminum. Automobile manufacturers are using aluminum to reduce the weight of the vehicle and improve the driving quality, performance, and durability of the vehicles. Automobile manufacturers such as Mercedes and Audi are largely substituting stainless steel with aluminum to reduce their car weight and increase the performance of the car.
Asia Pacific held the highest share of 42.8% in 2021 and it is expected to grow at a significant rate in the coming years. China has the biggest market share of aluminum in the Asia-Pacific region due to rapid growth in automobile industry, capacity expansions, and acquisitions by the Chinese players. India is anticipated to have a significant growth due to infrastructural development and growth in the automotive industry.
North America is expected to grow at a prominent growth rate owing to advancements in aluminum manufacturing technologies, growth in transport industry and processing equipment, and alloy development from past few years.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 201.1 billion |
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Market CAGR |
8.1% |
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By Processing Type |
|
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By End User |
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By Region |
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The aluminum market size was valued at US$ 201.1 billion in 2023 and is set to grow at a significant CAGR of 8.1% from 2024-2030.
The market key players are: Alcoa Corp. Aluminum Corp. of China Ltd. China Hongqiao Group Ltd. Emirates Global Aluminum PJSC, National Aluminum Co. Ltd. Kaiser Aluminum Corp. Norks Hydro ASA Rio Tinto Ltd. United Company Rusal Plc Xinfa Group Co. Ltd. Ball Carporation
The market has been classified into North America, Asia Pacific, Europe, Latin America, Middle East and Africa, and the rest of MEA.
| 1. Executive Summary |
| 2. Global Aluminum Market Introduction |
| 2.1.Global Aluminum Market - Taxonomy |
| 2.2.Global Aluminum Market - Definitions |
| 2.2.1.Processing Type |
| 2.2.2.End Users |
| 2.2.3.Region |
| 3. Global Aluminum Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4. Global Aluminum Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Aluminum Market By Processing Type, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Castings |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Extrusions |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Forgings |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Rods and Bars |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Sheets and Plates |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 5.6. Others |
| 5.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.6.3. Market Opportunity Analysis |
| 6. Global Aluminum Market By End Users, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Automotive |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Aerospace and Defense, |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Building and Construction, |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Electrical and Electronics, |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Packaging Industrial |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Others |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 7. Global Aluminum Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8. North America Aluminum Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Processing Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Castings |
| 8.1.2.Extrusions |
| 8.1.3.Forgings |
| 8.1.4.Rods and Bars |
| 8.1.5.Sheets and Plates |
| 8.1.6.Others |
| 8.2. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Automotive |
| 8.2.2.Aerospace and Defense, |
| 8.2.3.Building and Construction, |
| 8.2.4.Electrical and Electronics, |
| 8.2.5.Packaging Industrial |
| 8.2.6.Others |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9. Europe Aluminum Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Processing Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Castings |
| 9.1.2.Extrusions |
| 9.1.3.Forgings |
| 9.1.4.Rods and Bars |
| 9.1.5.Sheets and Plates |
| 9.1.6.Others |
| 9.2. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Automotive |
| 9.2.2.Aerospace and Defense, |
| 9.2.3.Building and Construction, |
| 9.2.4.Electrical and Electronics, |
| 9.2.5.Packaging Industrial |
| 9.2.6.Others |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 10. Asia Pacific (APAC) Aluminum Market,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Processing Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Castings |
| 10.1.2.Extrusions |
| 10.1.3.Forgings |
| 10.1.4.Rods and Bars |
| 10.1.5.Sheets and Plates |
| 10.1.6.Others |
| 10.2. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Automotive |
| 10.2.2.Aerospace and Defense, |
| 10.2.3.Building and Construction, |
| 10.2.4.Electrical and Electronics, |
| 10.2.5.Packaging Industrial |
| 10.2.6.Others |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11. Middle East and Africa (MEA) Aluminum Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Processing Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Castings |
| 11.1.2.Extrusions |
| 11.1.3.Forgings |
| 11.1.4.Rods and Bars |
| 11.1.5.Sheets and Plates |
| 11.1.6.Others |
| 11.2. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Automotive |
| 11.2.2.Aerospace and Defense, |
| 11.2.3.Building and Construction, |
| 11.2.4.Electrical and Electronics, |
| 11.2.5.Packaging Industrial |
| 11.2.6.Others |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12. Latin America Aluminum Market, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Processing Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Castings |
| 12.1.2.Extrusions |
| 12.1.3.Forgings |
| 12.1.4.Rods and Bars |
| 12.1.5.Sheets and Plates |
| 12.1.6.Others |
| 12.2. End Users Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Automotive |
| 12.2.2.Aerospace and Defense, |
| 12.2.3.Building and Construction, |
| 12.2.4.Electrical and Electronics, |
| 12.2.5.Packaging Industrial |
| 12.2.6.Others |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Alcoa Corp. |
| 13.2.2.Aluminum Corp. of China Ltd. |
| 13.2.3.China Hongqiao Group Ltd. |
| 13.2.4.Emirates Global Aluminum PJSC, |
| 13.2.5.National Aluminum Co. Ltd. |
| 13.2.6.Kaiser Aluminum Corp. |
| 13.2.7.Norks Hydro ASA |
| 13.2.8.Rio Tinto Ltd. |
| 13.2.9.United Company Rusal Plc |
| 13.2.10.Xinfa Group Co. Ltd. |
| 13.2.11.Ball Carporation |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.