Aluminium Market Size 2024: Industry Share, Growth, and Top Leaders-Alcoa Corporation, Aluminium Corporation of China Limited, Century Aluminium Company.

Aluminium Market Research Report By DataM Intelligence: A comprehensive analysis of current and emerging trends provides clarity on the dynamics of the Aluminium market. The report employs Porter's Five Forces model to assess key factors such as the influence of suppliers and customers, risks posed by different entities, competitive intensity, and the potential of emerging entrepreneurs, offering valuable insights. Additionally, the report presents research data from various companies, including their benefits, gross margins, and strategic decisions in the global market, all conveyed through tables, charts, and infographics.

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What is the projected growth rate (CAGR) of the Global Aluminium market from 2024 to 2031, and what is the market value expected to change by 2031?

Global Aluminium Market reached US$ 152.2 billion in 2022 and is expected to reach US$ 233.3 bllion by 2031, growing with a CAGR of 5.5% during the forecast period 2024-2031.

What is Aluminium Market?

The aluminium market encompasses the production, processing, and distribution of aluminium and its alloys, which are widely used across various industries, including automotive, aerospace, construction, packaging, and consumer goods. Market growth is driven by the increasing demand for lightweight materials that enhance fuel efficiency and reduce emissions in transportation, particularly in electric and hybrid vehicles. Additionally, the construction industry's emphasis on sustainability and energy efficiency boosts the demand for aluminium in building materials and architectural applications. Innovations in recycling technologies and the growing emphasis on circular economy practices further contribute to the market, as aluminium is highly recyclable. Furthermore, emerging economies are expanding their industrial capabilities, leading to increased consumption of aluminium products in various sectors. Overall, the aluminium market is characterized by its versatility, sustainability, and crucial role in modern manufacturing and infrastructure development.

Growth Driver

Rise in Packaged Goods Sales Driven by Versatile Aluminum Foil

Aluminum foil has become a widely used packaging material across various industries, including food and beverage, aviation, transportation, medical devices, and pharmaceuticals. Its exceptional malleability allows it to be easily rolled, folded, and molded to meet diverse packaging needs. The unique properties of aluminum foil enable it to be transformed into various forms, such as paper wraps, containers, and tablet packs. Additionally, its high reflectivity makes it suitable for both decorative and functional applications. As sales of packaged goods continue to increase, the demand for aluminum foil as an essential packaging solution is expected to grow, further enhancing its presence in the market.

Key Players:

Profiles of some of the major players in the global Aluminium market, which include 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 and Kaiser Aluminium Corporation.

Industry Development:

On July 17, 2023, Aludecor unveiled Nexcomb: Inspiration for Nex Gen Creativity with Aluminium Honeycomb Panels. As India's leading brand for high-quality Metal Composite Panels (MCP), Aludecor is excited to introduce these innovative Nexcomb Honeycomb panels, representing a significant advancement in design and functionality.

The purpose of the report is to offer a comprehensive analysis of the market, along with insightful conclusions, statistical data, historical information, market data that has been confirmed by the industry, and predictions based on a sound methodology. By identifying and examining market segments and forecasting global market size, the study also contributes to understanding the dynamics and structure of the global Aluminium market.

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Market Segments:

The report covers the segmentation of the market into different segments based on various classifications such as applications, end users, product types, and others. The segmentation is divided into two sections, one for development and the other for different roles, needs, and behaviours.

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.

Regional Break out:

☞ North America - US, Canada, Mexico

☞ Europe- Germany, Russia, UK, France, Italy, Rest of Europe

☞ Asia Pacific- China, India, Japan, Australia, Rest of Asia Pacific

☞ South America- Brazil, Argentina, Colombia, Rest of South America

☞ Middle East and Africa- Saudi Arabia, UAE, Oman, Bahrain, Qatar, Kuwait, Israel

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Key Features:

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