Aluminium Market 2023-2028 Size, Share, Growth, Trends and Forecast

According to the latest report by IMARC Group, titled, "Aluminium Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The global aluminium market is expected to exhibit a growth rate (CAGR) of 5.4% during 2023-2028. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Industry Definition and Application:

Aluminium (Al) is a lightweight, non-ferrous metal with a silvery-white appearance. It is extracted through the Bayer process, where bauxite ore is refined to obtain Al oxide, which is then smelted using the Hall-Heroult method to get pure Al. It offers excellent strength, durability, flexibility, malleability, and resistance to corrosion and oxidation. It also boasts superior reflectivity and high electrical and thermal conductivity. It is used in various applications due to its ability to form compounds with other elements. As a result, aluminium finds extensive applications in the production of automobiles, smartphones, tablets, personal computers (PCs), refrigerators, and other electronic devices across the globe.

Aluminium Market Trends and Drivers:

The increasing Al applications across various end use industries represent the primary factor driving the market growth. For instance, Al is extensively utilized in the food and beverage sector to make packaging containers as it is non-toxic, preserves food for extended durations, and inhibits the growth of microorganisms. Besides this, there has been growing product usage in the production of wheels, engines, chassis, and other parts of modern vehicles due to better fuel economy, lightweight, and efficiency. Additionally, the widespread product adoption in the construction industry for manufacturing windows, curtain walls, roofing and cladding, solar shading, solar panels, railings, shelves, and other temporary structures has augmented the product demand. In line with this, the rising product utilization in packing and protecting cosmetics and personal care products from contamination during storage and shipping has accelerated the adoption of Al.

Furthermore, several favorable government initiatives, such as the introduction of the plastic ban in various countries and stringent emission regulations, are positively influencing the market growth. Other factors, including the escalating demand for ready-to-eat (RTE) foods, emerging pharmaceutical packaging applications, rising consumer electronics sales, surging construction activities, growing environmental concerns, and technological advancements in Al manufacturing, are also creating a favorable market outlook.

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Aluminium Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market.

Alcoa Corporation
Aluminium Bahrain BSC
Century Aluminium Company
China Hongqiao Group Limited
East Hope Group
Emirates Global Aluminium PJSC
Kaiser Aluminium
Norsk Hydro ASA
Novelis Inc. (Hindalco Industries Limited)
Rio Tinto Ltd.
Vedanta limited.

The report has segmented the market on the basis on series, processing method and end use industry.

Breakup by Series:

Series 1
Series 2
Series 3
Series 4
Series 5
Series 6
Series 7
Series 8

Breakup by Processing Method:

Flat Rolled
Castings
Extrusions
Forgings
Pigments and Powder
Rod and Bar

Breakup by End Use Industry:

Transport
Building and Construction
Electrical Engineering
Consumer Goods
Foil and Packaging
Machinery and Equipment
Others

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

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