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 Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026

Published Date: Feb 2020  |  Report ID: GMI4521  |  Authors: Kunal Ahuja, Sarita Bayas

Report Format: PDF   |   Pages: 290   |   Base Year: 2018




Summary Table of Contents Industry Coverage Methodology

Industry Outlook

Aluminum market size exceeded $160 Billion, globally in 2018 and is estimated to grow at over 6.5% CAGR between 2019 and 2026. Global market value of aluminum is attributed towards increasing demand in packaging and construction industries.
 

Global Aluminum market

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Aluminum a silvery white metal produced from bauxite. Bauxite is processed into alumina which looks like a white powder and then processed into aluminum at smelters using electrolytic reduction. It is lighter than iron metal, flexible and corrosion resistant as it is covered with strong layer of oxide film. It is widely used in automotive, modern construction, aviation, energy and packaging industries which drive the growth of aluminum market.
 

Aluminum’s usage in commercial and passenger vehicles is accelerating owing to its fastest, safest and cost-effective way to increase performance. Automotive vehicles manufactured form aluminum boosts fuel economy and lower emissions while preserving or advancing safety and stability. As the material is lighter in nature it allows automotive manufacturers to improve dent resistance as they can make body panes thicker while still reducing weight. Moreover, in electric vehicles to achieve a high range for a given battery size and weight, weight reduction is needed, which in turn foster aluminum demand in EV vehicles. However, stringent regulations towards the emission of greenhouse gases form primary aluminum process is anticipated to restrain aluminum market to some extent.
 

The automotive industry begins to focus on fuel efficiency, reducing CO2 emissions and car design, aluminum play an important role in manufacturing of modern cars. Every kilogram of aluminum used in car lowers the general weight of the automobile by one kilogram. Owing to which, more car parts are manufactured from the material such as wheels, bumpers, suspension parts, body parts and frame which will fuel the aluminum market share. Global cars production was 70 million units in 2018 indicated significant potential for aluminum industry from transportation application segment.
 

Aluminum Market Report Coverage
Report Coverage Details
Base Year: 2018 Market Size in 2018: 161,189.15 Million (USD)
Historical Data for: 2015 to 2018 Forecast Period: 2019 to 2026
Pages: 290 Tables, Charts & Figures: 319
Geographies covered (21): U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Netherlands, Russia, China, India, Japan, South Korea, Indonesia, Australia, Vietnam, Brazil, South Africa, Saudi Arabia, UAE
Segments covered: Product, Processing Method, Application
Companies covered (20): Chalco, AWAC, Rio Tinto, Rusal, Norsk Hydro, Shandong Xinfa Aluminium Group, South 32, Hongqiao Group, Emirates Global Aluminum, SPIC, Alcoa Corporation, Vedanta Limited, Hangzhou Jinijang Group, Arconic, Century Aluminium, JW Aluminium, Logan Aluminium, Aleris Rolled Products, Hindalco, Novelis.
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:
  • Stringent regulations

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Extruded products remain largest product segment in the overall market

Extruded Product Market Volume

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Global aluminum industry is bifurcated based on products such as extruded, flat, forged, long, cast and others. Extruded products hold the largest market share with volume of surpassing 28 million tons in 2018. Aluminum extruded products are used in a diverse range of applications such as high conductivity of heat and electricity; heatsink, air conditioning, radiators, and electronics. Increase in governmental incentives to employ aluminum extrusions in Building Integrated Photovoltaic (BIPVs), which are used in the generation of renewable energy is driving the aluminum market.  
 

Extruded products are used in construction application as they avoid deformation caused by weather and building structure movement. They maintain intensity and flexibility under loads and spring backwards up from the shock of effect. The highly reflective characteristics of aluminum extruded products make them useful for safeguarding products or areas from light, infrared radiation or radio waves.
 

In transportation industry weight to strength ratio is critical which makes these products ideal for engine blocks, panels, roof rails, boats, trucks and as well as for bodies and parts of vehicles. Requirement for extruded products in manufacturing of lighter vehicles such as new 700 pounds lighter Ford F-150 pickup truck will offer lucrative business opportunities for aluminum industry expansion.
 

Advancement of new applications for aluminum through rolling process will drive the overall market size

Rolling Production Process Market Revenue

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Based on production process the market is bifurcated as rolling, extruding, drawn, casting and forging. Aluminum market outlook is attributed to its invasion in various industries such as aerospace, building, packaging, transport and electrical & electronics. Rolling aluminum is one of the principal ways of converting cast aluminum slab into usable form. Rolling process produce thinnest of foil with superior properties including lightness, strength and durability.
 

Rolling products may witness gains by 4.1% by the end of forecast timeframe. The rolling of   aluminum change over its metallic structure and the metal takes on new qualities & properties. In packaging application these foils, and sheets are generated for making beverage cans, flexible packaging and foil wraps which may accelerate aluminum market.
 

Increasing usage of aluminum in electrical & electronics sector to foster market size

Aluminum market from Electrical & Electronics Application

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Based on application, the market is segmented as transport, construction, electrical & electronics, packaging, equipment & machinery, consumer durables, foil stock and others. Aluminum market trends is growing owing to its increase usage in electrical & electronics products as it has been designed for use as rigid electrical conduit. Rigid aluminum does not rust, spark and resist corrosion. These properties are vitally important for electrical applications within grain elevators, coal mines and refineries which in turn propel product growth. Moreover, Aluminum has cost and weight advantages over copper and is ideal raw material for electricity transmission and distribution uses.
 

Growing penetration for home appliances such as washing machine, dryer, refrigerator and laptops are lighter in weight owing to aluminum. The lightweight nature of aluminum in HD TV’s state that widescreen TV’s can be safely installed on walls with no internal or external bracing. The use of aluminum in consumer electronics initiated with the pioneering designs that came from engineering labs of Apple. The company offered aluminum body laptops in 2003 with the introduction of aluminum PowerBook G4 which in turn induced aluminum market value.
 

North America aluminum industry growth is attributed towards usage in construction industry

North America aluminum market

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North America may witness growth over 3.2% by 2026. Growing construction projects in the region which have accelerated their progress after recession may drive the aluminum market. The increasing demand for aluminum curtain walls which offers structural stability and aesthetics to a building may foster market growth.  Aluminum wall-glazing materials, are a result of technological innovations, find pervasive adoption in many industrial and residential buildings.
 

Aluminum alloys can easily sustain the weight of glass covers thus boosting the buildings capacity for using pure sunlight.  The metal and its components are durable, lightweight, corrosion resistant and recyclable which will fuel the overall aluminum market.
 

Various contractors in the region prefer aluminum as it can be re-melted and recycled with no loss in quality. It is one of the eco-friendliest building resources offered for construction projects and its use help to qualify LEED and other certifications. This certification was presented in part due to a high performing, nonreflective aluminum curtain wall that protects energy by increasing the use of sunlight. Rising awareness regarding building solutions in the region in order to reduce carbon footprints and to improve building structure appeal is likely to benefit the aluminum market over the forecast timeframe.
 

Joint ventures and collaborations to remain key business strategies by market players

Global aluminum market analysis is moderately fragmented with key players including Chalco, Rusal, Rio Tinto, Norsk Hydro, Hongqiao Group, Hindalco, Novelis and Alcoa Corporation.
 

Companies are engaged in joint ventures and collaborations and in order to expand their business presence and providing products across geographies. In April 2017, Rusal announced to form a joint venture with Runaya Metsource LLP to manufacture high tech aluminum pastes and powders. Through this joint venture the company will be able to meet growing demand in Southeast Asia and West Asia.
 

Companies are also focusing on product innovations with existing facilities and offer various products with enhanced properties. Technological inventions to produce modern, feasible, cleaner and cheaper method of primary aluminum metal will stimulate overall aluminum market growth.
 

The aluminum market research report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026, for the following segments:
 

By Product

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

By 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 regions and countries:

By Region

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Netherlands
    • Russia
  • APAC
    • China
    • Japan
    • India
    • South Korea
    • Indonesia
    • Australia
    • Vietnam
  • Latin America      
    • Brazil
  • MEA
    • Saudi Arabia
    • South Africa
    • UAE 
       

Frequently Asked Questions (FAQ) :

According to the report published by Global Market Insights Inc., the aluminum business is expected to hit at $250 billion (USD) by 2026.
Growing trends towards lightweight construction in the automotive industry are fuelling the industry growth worldwide.
Chalco, Rusal, Rio Tinto, Norsk Hydro, Hongqiao Group, Hindalco, Novelis and Alcoa Corporation are top companies operating in the global market for aluminum.

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Premium Report Details

  • Published Date: Feb 2020
  • Pages: 290
  • Tables: 256
  • Charts / Figures: 63
  • Companies covered: 20
  • Countries covered: 21

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