Aluminum Market By Type (Primary And Secondary), By End User (Transport, Building & Construction, Consumer Goods, Electrical Engineering, Packaging, Machinery & Equipment, and Others), By Processing Method (Flat Rolled, Castings, Extrusions, Forgings, Pigments & Powder, and Rod & Bar) , By Series (Series 1, Series 2, Series 3, Series 4, Series 5, Series 6, Series 7, and Series 8) - Global Opportunity Analysis and Industry Forecast, 2020 – 2030

Aluminum Market accounted USD 157.4 billion in 2020 and is anticipated to grow with a CAGR of 3.4% from 2020-2030. Aluminum is an electronegative metal which is most ductile in nature and second most malleable metal present on earth. In addition, having 2.7g/ccm density which is exceptionally light, unaffected by dust, possesses high degree of conductivity, and exhibits significant strength when alloyed. It is widely used in food & packaging and pharmaceutical industries, attributed to nontoxic in nature, inhibits growth of microorganisms and preserves food for lengthy times. It is used frequently in electrical transmission lines as well as primary propellant for solid rocket booster motor in space shuttle due to its high volumetric energy density. It has additional trait including corrosion resistance, reflectivity, and recyclability, which offers as favourable choice for using in various industrial applications. High market share of leading companies is characterized by wide distribution network, their vast product portfolio, and R&D investments. In 2018, the global output of primary aluminium being impacted by various factors such as constraints in supply of raw materials, imposition of various trade restrictions and sanctions by the U.S. Government leading to some fluctuations in prices.

Market Dynamics and Factors:

Development in the transport industry, technological advancement in aluminum manufacturing technologies as well as processing equipment, and increase in usage of it in various industries (building & construction and foil & packaging) are some of the major factors are responsible to drive the growth of the global aluminum market. In addition, on-going R&D activities to develop innovative &more effective, and cheaper products are also propelling the growth of the market. However, fluctuations in prices of raw materials such as alumina is expected to hinder the market growth. Growth in demand from emerging economies such as China & India and increase in use of recycled aluminum products globally provides profitable opportunities for the expansion of the market. Lowering energy requirement is one of the major challenges accepted from aluminum industry.

Market Segmentation:

Based on type, the global market is segmented into primary and secondary. Based on end user, the market is bifurcated into transport, building & construction, consumer goods, electrical engineering, packaging, machinery & equipment, and others. On basis of processing method, the market is categorised into flat rolled, castings, extrusions, forgings, pigments & powder, and rod & bar. By series, the market is segmented into series 1, series 2, series 3, series 4, series 5, series 6, series 7, and series 8. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographic Analysis:

Asia-Pacific is the dominating region for the growth of the market, attribute to the massive urbanization, lucrative industrial development and growth in the disposable income population in urban areas. China witnessed to the highest revenue share in the region in 2018 owing to massive urbanization coupling with rapid industrialization. In additional to this, the steady growth of the market driven by the growing application in the auto and aerospace industries. Chinese manufacturers have key strategies consisting new product developments, capacity expansions, and acquisitions for growing their market share. Product innovations with capacity expansions are the main points followed by Korean manufacturers to increase their market share.

Competitive Scenario:

The key players operating in the global aluminum markets are United Company RUSAL Plc. Alcoa Corporation, Aluminium Corporation of China Limited (CHALCO), China Hongqiao Group Ltd., East Hope Group Company Limited, China Power Investment Corp. (CPI), Emirates Global Aluminum PJSC, Rio Tinto Alcan Inc., and Xinfa Group Co., Ltd.

Aluminum Market Report Scope