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Alumina Market Size
Global Alumina Market size was estimated more than USD 40 billion in 2020 and is anticipated to grow at a CAGR of 4.7% from 2021 to 2027. Shifting customer preference toward lightweight materials and rising demand of aluminum for automotive and construction industries will augment the demand for specialty alumina over the forecast period.
Aluminum Oxide, commonly known as Alumina, is a white crystalline chemical compound, generally produced from Bauxite. It is widely used in different engineering applications including anti-corrosion materials, wear & abrasion resistance parts, electronics industry, etc. Alumina is a cost-effective product and offers quality features such as high durability, brightness, low heat radiation, and high stability at elevated temperature.
Advanced aluminum materials are continuously capturing the automotive industry owing to their higher safety and performance. As lightweight materials are improving fuel efficiency, the global automakers are shifting their preferences by replacing iron and steel components with the lighter materials.
According to the U.S. Department of Energy, 10% reduction in vehicle weight subsequently improves 6%-8% fuel efficiency, further reducing CO2 emissions. Additionally, the rising demand for compact body panels and higher load bearing performance for light commercial vehicles will significantly boost the growth of alumina market. Rapidly growing automotive industries in emerging economies will impact the demand for high-quality alumina in near future.
Modern living standards aggressively create opportunities for consumer electronics and construction industries. Aluminum is widely adopted for roofing and wall cladding systems, including frames, staircases, panels, etc., in the recent years. Wall cladding is majorly chosen for commercial construction owing to its cost-effective, functional, and aesthetic appearance.
| Report Attributes | Details |
|---|---|
| Base Year: | 2020 |
| Market Size in 2020: | 40.2 Billion (USD) |
| Forecast Period: | 2021 to 2027 |
| Forecast Period 2021 to 2027 CAGR: | 4.7% |
| 2027 Value Projection: | 57.0 Billion (USD) |
| Historical Data for: | 2017 to 2020 |
| No. of Pages: | 180 |
| Tables, Charts & Figures: | 267 |
| Segments covered: | Grade, Application, Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Moreover, electronic components and home appliances, such as smartphones, laptops, TV panels, refrigerators, washing machines, etc., are manufactured with a considerable amount of aluminum to offer higher performance at an affordable price. These panels and solid sheets are produced from high-quality aluminum sheets, further proliferating the alumina market share in the coming years.
The volatile price of raw materials due to fluctuating production rates is likely to hamper the business growth in the near future. Moreover, the recent COVID-19 pandemic negatively impacted the production capacity due to temporary suspension of mining activities, low workforce, and value chain disruption across the globe. Nevertheless, rapid vaccination policies along with lifting of government restrictions and quick recovery of the construction sector will revive the overall alumina market value in the coming years.
Alumina Market Analysis
The smelter grade alumina segment accounted for more than 85% market share in 2020 and is likely to grow at a considerable rate up to 2027. The growth of this segment is attributed to the rising demand for aluminum from the end-use industries. The rise of the automotive industry in the emerging economies will augment the demand for high-quality aluminum for making interior and exterior body panels, engine components, etc., proliferating the alumina market trends over the study timeframe.
Aluminum production from alumina will capture a considerable market share over the years and will generate more than USD 47 billion at the end of 2027 owing to the stable demand for high-quality aluminum materials from Asia Pacific and North America regions due to the growing applications in end-use industries. The widespread application of aluminum components in the automotive industry for exterior and interior parts will propel the alumina market share. Modern commercial aircraft consist of 80% aluminum by weight. In addition, rapid growth of the infrastructure industry in emerging countries will proliferate aluminum consumption.
The Asia Pacific region is estimated to account for more than USD 38 billion by 2027, exhibiting excellent growth between 2021 and 2027. Countries, such as China, India, Japan, Malaysia, and South Korea, are consistently promoting electric vehicles in the recent years. China is producing more than half of global primary aluminum owing to its favorable government policies and central planning. Moreover, many countries are focusing on the wastewater treatment industry to mitigate water scarcity, further contributing to the overall alumina market revenue.
Alumina Market Share
The manufacturers active in alumina market are working on forming merger & acquisitions to strengthen their market presence and boost their revenue generation. They are also working on capacity expansion and expand their geographical presence, and also developing new d
plans for its refineries in Pinjarra and Huntly bauxite mines which are located in Western Australia. This will help the company to meet the growing customer demand for alumina in Australian region and for Asia Pacific region.
In November 2020, Aluminum Corporation of China Ltd. (Chalco) started working on second production line of alumina refinery which is located in Huasheng, China. The new production line will help the company to increase their alumina output and will further strengthen their market presence. Various alumina industry participants associated with the alumina industry include :
- Alcoa Corporation
- Aluminum Corporation of China (Chalco)
- Rusal
- Xinfa Group
- Rio
- Tinto
- Hongqiao Group
- Norsk Hydro
- NALCO
- Alum S.A.
- Nippon Light Metal Company
- Vedanta
- Worsely Alumina
- Sasol
- Almatis
- Cabot Corporation
The alumina market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand metric tons & revenue in USD million from 2017 to 2027 for the following segments:
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By Grade
- Smelter
- Chemical
- Calcined
- Ordinary soda
- Medium soda
- Low soda
- Tabular
- Fused
- Reactive
- Aluminum Trihydrate
By Application
- Aluminum Production
- Non-Aluminum Production
- Abrasives
- Ceramics
- Refractories
- Filtration
- Others
The above information is provided on a regional and country basis for the following:
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Russia
- Asia Pacific
- China
- India
- Australia
- Indonesia
- Vietnam
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- UAE
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