Aluminium Market Size, Share, Growth and Trends, Forecast 2024-2031

Global Aluminium Market reached US$ 152.2 billion in 2023 and is expected to reach US$ 233.3 bllion by 2031, growing with a CAGR of 5.5% during the forecast period 2024-2031.

The global aluminium market is experiencing significant growth, driven by the increasing use of aluminium pigments in coatings and paints. Industries such as automotive, packaging, construction, and cosmetics are fueling this demand as they seek high-performing, visually appealing finishes. As the desire for more functional and attractive coatings rises, the demand for aluminium pigments continues to grow across these key sectors.

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Key Developments:

• Aludecor introduced Nexcomb, a cutting-edge innovation in aluminium honeycomb panels, under the banner "Inspiration for Nex Gen Creativity with Aluminium Honeycomb Panels." As India's leading brand for premium Metal Composite Panels (MCP), Aludecor takes pride in this groundbreaking launch.

• Jindal Aluminium Limited (JAL) announced plans to invest ₹100-150 crore to expand its Bhiwadi factory's capacity to 60,000 tonnes annually. After an initial ₹100 crore investment in 2021 for acquisition and ₹250 crore in 2022 for facility development, this new investment will bring the total to nearly ₹500 crore to meet rising demand.

• GUNNA Drinks, a soda brand advocating for reduced plastic usage, introduced three of its immune-boosting lemonades in aluminium bottles. This eco-friendly shift is part of the company's effort to reduce plastic waste while meeting the increasing demand for functional food and beverages.

Market Dynamics:

Growing Demand for Primary Aluminium

Primary aluminium" refers to the aluminium obtained directly from bauxite ore through mining and refining processes. It plays a crucial role in the construction industry, being used for roofing, windows, doors, facades, and structural components. According to European Aluminium, the current annual demand for primary aluminium stands at 9 million tonnes, and by 2050, it is expected to double to 18 million tonnes. The European aluminium value chain is extensive, with over 600 factories operating across 30 countries, making it one of the most vital raw materials industries in the region. This sector is a key contributor to six of the EU's fourteen industrial ecosystems, playing a pivotal role in advancing the European Green Deal.

Segment Covered in Aluminium Market:

By Product: Pure Aluminium, Alloy Aluminium.

By Application: Pigments and Powder, Foils, Wires, Sheets and Plates, Rod and Bars, Ingots.

By End-User: Transportation, Packaging, Construction, Electrical and Electronics, Consumer Goods, Industrial Equipment and Machinery, Others.

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Key players involved in Aluminium Market:

• Alcoa Corporation
• Aluminium Corporation of China Limited
• Century Aluminium Company
• Rio Tinto
• United Company RUSAL
• Norsk Hydro ASA
• Emirates Global Aluminium
• National Aluminium Company Limited
• Aluminium Bahrain
• Kaiser Aluminium Corporation

*Note:

• Additionally, I wanted to highlight that the full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted.

Regional Analysis:

The Aluminium Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Aluminium Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

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