Aluminum market expected CAGR is 3.4% during (2020-2030)

Aluminum is one of the highly versatile metals having numerous advantages and is characterized for being flexible and lightweight. This metal can be cast, formed, melted, extruded, and machined. Corrosion resistance, completely recyclable, non-toxic, easy fabrication, attractive appearance and uniform quality are some of the benefits offered by aluminum. Owing to these benefits it is has wide applications in industries such as automotive, food & beverage, building & construction, electrical to name a few.

Aluminum market is poised to grow at a CAGR of 3.4% during the forecast period of (2020-2030)

The global aluminum market is expected to witness a CAGR of around 3.5% from 2020-2030 as per new report published by Decision Foresight.

According to the report, the growth of the global aluminum market is driven by rise in adoption of aluminum across various industries, technological advancements in aluminum manufacturing technologies and processing equipment. In addition, Fuel-economy regulations across the globe will boost its demand in the automotive sector. However, fluctuations in raw material prices such as alumina limit the growth of the global aluminum market during the forecast period.

Foil & Packaging segment is expected to grow at the highest growth rate during the study period. The light-weight and recyclable properties of aluminum makes it a popular choice for packaging in the food & beverage industry. Aluminum is used for packaging sodas, energy drinks, beers, and sparkling water. Apart from being easily recyclable and air resistant, these cans can also be rapidly chilled and provide a superior material surface from printing. This helps in enhancing the aesthetics of the packaging and retains the original taste of the packaged food. With the increasing demand of these cans in the food & beverage industry, the demand for the aluminum is augment to grow.

Geographically, the global aluminum market is segmented into North America, Europe, Asia-Pacific (APAC), and Rest of the World (Row). Among these regional segments, Asia-Pacific is expected to grow at the highest growth rate during the study frame. Among the APAC regions, in 2019, China is expected to hold the largest share of the APAC aluminum market owing to rapid urbanization and industrial development. Expansions of manufacturing capacities, new product developments, and mergers & acquisitions are adopted by the Chinese manufactures to strengthen their presence in the country. Furthermore, China’s national program to reduce Co2 emissions has led to shut down of multiple aluminum smelters, which reduced the production up to certain extent. However, as per the new regulations energy consumption for upgraded and new aluminum smelters should be below 13,200 kWh for ingots and 12750 kWh per ton for liquid form. Such implementation of government regulations will provide the needed impetus for the market growth.

Prominent players in the global aluminum market include Aloca Corporation, Aluminum Corporation of China Limited, China Honqjao Ltd, China Power Investment Corp. (CPI), East hope Group of Companies, Emirates Global Aluminum PSJ, Norsk Hydro ASA, Rio Tinto Alcan Inc., United company Rusal plc., and Xinfa Group Co., Ltd. Apart from these other players operating in the market include Aluminum Bahrain B.S.C., Ball Corporation, BHP Limited, Century Aluminum Company, Crown Holdings Incorporated, Constellium N.V., and Glencore International AG, Jindal Iron and Steel Company Limited.

Browse key industry insights, market data tables & figures from the report, “Aluminum Market Size By Processing Method (Flat Rolled, Castings, Extrusion, Forgings, Pigments &Powder, and Rod&Bar), By End User (Transport, Building & Construction, Electrical Engineering, Consumer Goods, Foil & Packaging, Machinery and Equipment , Others (Solar Panel, Nanotechnology, and Aluminum Air Batteries), By Series(Series 1, Series2, Series 3, Series 4, Series 5, Series 6, Series7, and Series 8),By Region(US, Canada, Mexico, Germany, UK, France, Japan, China, South Korea, India, Australia, Brazil, Saudi Arabia and Rest of the World), Growth potential, Price Trends, Competitive Market Share & Forecast, 2020-2030”

Market Segmentation

The research report categorizes the global aluminum market by processing method, series,  end use industry, and region.

By Processing Method         

• Flat Rolled
• Castings
• Extrusions
• Forging
• Pigments & Powder
• Rod & Bar

By End Use industry

• Transport
• Building & Construction
• Electrical Engineering
• Consumer Goods
• Foil & Packaging
• Machinery & Equipment
• Others (Solar Panel, Nanotechnology, and Aluminum Air Batteries)

By Series

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

By Region

• North America

• US
• Canada
• Mexico

• Europe

• UK

• Germany
• France
• Italy Spain
• Others

• Asia-Pacific    

• India
• China
• Japan
• South Korea
• Australia
• Rest of Asia Pacific

• Rest of the World (RoW)

• Brazil
• South Africa
• Saudi Arabia
• Turkey
• Rest of the World (Row)