Global Aluminum Market Size By Product (Flat Products, Extruded Products, Forged Products, Long Products, Cast Products), By Processing Method (Rolling, Extruding, Drawn, Casting, Forging), By Application (Transport, Construction, Electrical & Electronics, Packaging, Equipment & Machinery, Consumer Durables, Foil Stock), Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trend, Competitive Market Share & Forecast, 2021-2027

Published Date: Feb 2021  |  Report ID: GMI4521  |  Authors: Kunal Ahuja, Sarita Bayas

Report Format: PDF   |   Pages: 310   |   Base Year: 2020

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Global Aluminum Market size was over USD 150 billion in 2020 and is estimated to grow at over 5.0% CAGR between 2021 and 2027 owing to extensive application in transport, construction, electrical & electronics, packaging, equipment & machinery, consumer durables, and foil stock. Increasing application scope in consumer durable and other consumer goods is anticipated to drive the business expansion.

Aluminum is a lightweight, malleable, durable, and corrosion resistant metal which finds use in a wide range of industries including transportation, construction, and others. The aluminum market will garner momentum with increasing consumption across Latin America, the Middle East and Africa. 

Aluminum is a significant material for manufacturing in almost every industrial and consumer durable. Key aspects such as lighter weight, thinner and greater connectivity properties is propelling the aluminum market demand. Aluminum is widely used in fitness and sports equipment such as exercise machines, baseball nets, soccer goal post and archery equipment. Air conditioning and refrigerator condensers and other home appliance trim and components also uses aluminum owing to its the ability to improve product efficiency.

Aluminum Market Outlook
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The outbreak of COVID-19 pandemic has resulted in lockdowns in several countries of the world which has resulted in serious disruption of supply chain across the globe. Distributors of aluminum products rely heavily on regional transportation rules and may face issues in material handling and conveyance, which may result in supply shortages within a short to medium timeframe.

Few manufacturers are vertically integrated which saves them the efforts of shipping raw materials to their production sites. Whereas the demand for aluminum from different applications has observed a considerable fluctuation during the initial half of 2020, Major factors affecting the product demand include decline in automotive sales, reduced production rates, and disruptions across the value chain. However, 2021 is projected to be an optimistic year for the global aluminum industry.

Stringent government regulations on aluminum products to reduce the environment effect is shifting the industry focus toward sustainability. For instance, According to EN 15530:2008, this European standard provides a structure on how to identify and consider environmental aspects and potential environmental impacts of aluminum products throughout their life cycle. Whereas, the aluminum market players have managed to reduce emissions from the production steps to a significant degree. Also, the industry observes considerable rise in recycling of aluminium products across various industries thus supporting the business expansion.

Global Aluminum Market Report Coverage
Report Coverage Details
Base Year:2020Historical Data for:2016 to 2020
Market Size in 2020:151.57 Billion (USD)Forecast Period:2021 to 2027
Forecast Period 2021 to 2027 CAGR:5.4%No. of Pages:310
2027 Value Projection:212.60 Billion (USD) Tables, Charts & Figures:318
Geographies covered (5):North America, Latin America, Europe, Asia Pacific, Middle East and Africa
Segments covered:Application, Product , Processing Method
Growth Drivers:
  • North America: Growing construction and automotive industry growth
  • Europe: Rising consumer preference for aluminum packaging
  • Asia Pacific: Significant industrialization & construction activities
Pitfalls & Challenges:
  • Strict regulation by the government restrict the market growth

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Growing construction industry expected to drive the demand for extrusions products

Aluminum Market by Extruded products

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Extruded products segment is anticipated to grow at over 5.5% CAGR from 2021 to 2027. Increasing incentives to employ aluminum extrusions in Building Integrated Photovoltaic (BIPVs) that are used in the generation of renewable energy is escalating the aluminum market share. In addition, rise in government spending on infrastructure development, and residential projects is propelling the product demand.

Extruded products are used in a diverse range of applications such as high conductivity of heat and electricity; air conditioning, radiators, heatsink, and electronics. Increasing demand for power generation and air conditioning units is fueling the aluminum extrusion aluminum market growth.

Lightness, strength, and durability properties of flat-rolled aluminum generate high demand for aluminum rolling processing

Aluminum Market by Rolling Process

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Rolling process holds a considerable share in the global aluminum market in 2020. Increasing demand for flat-rolled products such as plate, sheet, and foil owing to properties of lightness, strength, and durability is providing a boost to the global aluminum business. Through rolling-processing, the product can be rolled to the desired thickness, making it highly versatile for diverse industrial applications. Furthermore, in packaging industry, these sheets are used to manufacture packaging foils and cans, by working as a barrier against light, bacteria, oxygen, and moisture. In transportation, aluminum sheets are used to build panels for tractor-trailers and automobile bodies.

Positive outlook for the cell phones & laptop industry after the outbreak of Covid-19 should support the aluminum demand

Aluminum Market by Application

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Electrical & Electronics application of is anticipated to witness fastest growth over the forecasted period. Growing demand for electronics products such as cell phones, laptops and other electronic gadgets may induce aluminum owing to its light weight and high strength properties.

Moreover, the product is used in switchgear and rising main systems owing to its lighter weight compared with copper may drive the business growth. This extensive application in the electronics products and growing demand of electronics products after the outbreak of covid-19 should support the aluminum market trends. Additionally, aluminum is an excellent starting point for designing a wide range of electrical application. The product extrusions have become important in shaping lights and fixtures in the fast-growing market of LED lighting.

Technology advancement in sector should support business growth in Asia Pacific region

Aluminum Market by Region

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Asia Pacific holds a dominating share in the global aluminum market in 2020. The booming construction sector in the region is projected to drive industry growth up to 2027. Large aluminum production capacity facilities the ease in the product availability at lower costs thereby augmenting the regional share in the overall market.

China alone accounts for more than half of the global aluminum production. These products are utilized in the construction industry owing to its performance properties such as high reflectivity, design, high strength-to-weight ratio, durability, flexibility, and low maintenance. In addition, increasing recycling rates are likely to generate significant opportunities and provide a boost to the aluminum market sales.

Strategic mergers & acquisitions are among the key strategies observed among industry participants

Key players operating in the aluminum industry are Chalco, Rio Tinto, Hongqiao Group, Norsk Hydro, Hindalco and Hangzhou Jinjiang Group, Alcoa Corporation, and others. Various players are engaged in mergers and acquisitions to strengthen their market position. Players are also focusing on new product launch to attain a competitive advantage over other market players.

In January 2021, Emirates Global Aluminum (EGA), one of the leading aluminum producers globally entered into a partnership with Dubai Electricity and Water Authority (DEWA) to produce primary aluminum by smelting process using solar power. This partnership would enable the government of Dubai to transform the city into the world’s most sustainable city as well as developing it into a scientific and technology leader in the global metals sector.

In April 2019, Novelis a major producer of flat rolled aluminum products announced the launch of their first aluminum sheet battery enclosure. The company has enhanced its focus on R&D to take advantage of emerging trends in automotive industry towards electric vehicles by producing precise and specialized solutions.

The global aluminum market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilo Tons & revenue in USD Million from 2016 to 2027 for the following segments.

By Product

  • Flat products
  • Extruded products
  • Forged products
  • Long products
  • Cast products
  • Others

By Processing

  • Processing Method
  • Rolling
  • Extruding
  • Drawn
  • Casting
  • Forging

By Application

  • Transport
  • Construction
  • Electrical & Electronics
  • Packaging
  • Equipment & Machinery
  • Consumer Durables
  • Foil stock
  • Others

The above information has been provided for the following countries:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Russia
    • Spain
    • Netherland
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Thailand
    • Indonesia
    • Malaysia
    • Vietnam
  • Latin America
    • Brazil
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • UAE


Frequently Asked Questions (FAQ) :

The global market for aluminum had reached USD 150 billion in 2020 and is expected to witness a robust 5% CAGR between 2021-2027.
The market share of extruded aluminum products is projected to record a 5.5% CAGR through 2027 with consistent applications in infrastructure development and renewables deployment.
It is expected that electrical and electronic application will be the fastest growing segment up to 2027 owing to high demand for products like mobile phones, laptops, among others.
APAC is expected to be the leading share holder of the global market owing to a strong construction sector and significant aluminum production capacities.

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Premium Report Details

  • Published Date: Feb 2021
  • Pages: 310
  • Tables: 258
  • Charts / Figures: 60
  • Companies covered: 20
  • Countries covered: 5

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