What is the global market size of Aluminum Market?

Aluminum Market size was valued at USD 170.7 billion in 2021 and is poised to grow from USD 179.9 billion in 2022 to USD 256.53 billion by 2030, growing at a CAGR of 5.2% in the forecast period (2023-2030).

Who are the key vendors in the Global Aluminum Market?

The nature of the global market is fragmented. To support different industries, these important players are funding R&D projects. To preserve their market supremacy, they are putting into practice a variety of growth tactics, such as providing extensive product portfolios, fortifying their distribution networks, expansions, and acquisitions. 'Aluminum Corporation of China Limited ', 'Emirates Global Aluminum', 'Rio Tinto Group', 'Alcoa Corporation', 'China Hongqiao Group Limited', 'Rusal', 'Norsk Hydro ASA', 'Chalco', 'UC Rusal', 'Constellium SE', 'Arconic Inc.', 'Hindalco Industries Limited', 'China Power Investment Corporation', 'Shandong Xinfa Aluminum Group Co., Ltd.', 'Century Aluminum Company', 'China Zhongwang Holdings Limited', 'Vedanta Limited', 'China National Building Material Company Limited', 'Guizhou Aluminum Co., Ltd.', 'China Aluminum International Engineering Corporation Limited'.

What is the key driver of Global Aluminum Market?

Affordability and Wide Applications of Base Metal into Various Sectors Boosting Market Growth

Aluminum Market Size, Share, Growth Analysis, By Product (Sheet, Plate), By Alloy Type (Cast Alloy, Wrought Alloy), By End-use (Construction, Transportation), By Region - Industry Forecast 2025-2032

Report ID: SQMIG15I2009 | Region: Global | Published Date: December, 2024
Pages: 165 | Tables: 68 | Figures: 75

Aluminum Market Regional Insights

The Asia Pacific market has a value of US$ 103.25 billion. As big consumers like China, Japan, and India are present, it is the main factor driving the market's expansion. The region's demand for metal is being driven by the expanding construction and automobile industries. The market is expanding in Europe as a result of factors like the introduction of legislation to reduce automobile emissions and the strong demand from end-use sectors like solar panels and packaging.

Rising demand from automotive and transportation industries dominates the market in North America. One significant reason fueling the market expansion in this region is the use of this metal by EV manufacturers to lighten their vehicles. The causes responsible for the rise in Latin America and the Middle East & Africa are the increased demand from end-users for equipment, consumer durables, and construction materials. The market is also expanding as a result of the expanding building and infrastructure development activities in these areas' growing nations.

Aluminum Market Report Snapshots

License Type Top market research company in USA

File Type

$5,300

BUY NOW GET FREE SAMPLE

Want to customize this report?

Our industry expert will work with you to provide you with customized data in a short amount of time.

REQUEST FREE CUSTOMIZATION

FAQs

Global Aluminum Market size was valued at USD 170.7 billion in 2022 and is poised to grow from USD 179.9 billion in 2023 to USD 256.53 billion by 2031, growing at a CAGR of 5.2% in the forecast period (2024-2031).

The nature of the global market is fragmented. To support different industries, these important players are funding R&D projects. To preserve their market supremacy, they are putting into practice a variety of growth tactics, such as providing extensive product portfolios, fortifying their distribution networks, expansions, and acquisitions. 'Alcoa Corporation ', 'Aluminum Corporation of China Limited (CHALCO) ', 'Emirates Global Aluminium ', 'Rio Tinto ', 'Norsk Hydro ASA ', 'China Hongqiao Group Limited ', 'RUSAL ', 'Vedanta Aluminium & Power ', 'Hindalco Industries Ltd. ', 'Shandong Xinfa Aluminum Group ', 'East Hope Group ', 'Novelis Inc. ', 'Logan Aluminum ', 'Aleris Rolled Products ', 'JW Aluminum ', 'Hangzhou Century Aluminum ', 'State Power Investment Corporation (SPIC) ', 'Arconic ', 'South32 ', 'Aluminum Bahrain (Alba)'

A sizable portion of the world's usage of aluminum is secondary or recycled. Due to its affordability, scrap from machinery, automobiles, equipment, and beverage cans is recycled and reused. Reprocessing used metal or scrap causes less environmental harm because it uses a small amount of energy compared to mining new metal from ore. Additionally, initiatives like the creation of depollution centers and facilities for dismantling and shredding cars are anticipated to accelerate market expansion. The widespread use of the material in the transportation sector is also predicted to boost aluminum consumption.

Despite being used in autos for a long time, many new cars are now made of aluminum. For its ability to lower emissions and improve fuel efficiency, this metal is highly favored by engineers and designers in the automotive industry. Manufacturers of electric vehicles use this metal to lighten the car and increase its operating range. Due to its lightweight nature and similar physical characteristics to stainless steel, automakers like Mercedes and BMW are replacing it more frequently. According to estimates, the aforementioned elements will fuel market expansion.

Feedback From Our Clients

"We have purchased recently a report from SkyQuest Technology, and we are happy to inform you that this report was so useful and practical for our team. Skyquest Team was very active and our queries were followed up completely.It was amazing. "

- Mr. Ali Zali, Commercial Director, ICIIC Iran.

Aluminum Market Size, Share, Growth Analysis, By Product (Sheet, Plate), By Alloy Type (Cast Alloy, Wrought Alloy), By End-use (Construction, Transportation), By Region - Industry Forecast 2025-2032

Aluminum Market Regional Insights

Aluminum Market Report Snapshots

Want to customize this report?

FAQs

What is the global market size of Aluminum Market?

Who are the key vendors in the Aluminum Market?

What is the key driver of Aluminum Market?

What is the key market trend for Aluminum Market?

Which region accounted for the largest share in Aluminum Market?

Request Free Customization

Related Reports

Feedback From Our Clients

$5,300