Global Aluminium Market Report Forecast Till 2030

Aluminium market was valued at USD 202.04 bn in 2023, and is slated to reach USD 302.04 bn by 2030, due to the promotion of sustainability practices.

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Aluminium Market by Product Type (Flat-Rolled, Casting, Extrusions, Forgings, Powder & Paste, and Other Types), by Type (Primary and Secondary), and by End-User Industry (Transport, Consumer Goods, Machinery & Equipment, Construction, Foil & Packaging, Electrical Engineering, and Others) – Global Opportunity Analysis and Industry Forecast, 2024–2030

Aluminium Market

Domain- Materials & Chemicals

Sub Domain- Metals & Minerals 

The Aluminium Market size was valued at USD 202.04 billion in 2023, and is predicted to reach USD 302.04 billion by 2030, with a CAGR of 5.2% during the forecast period, 2024–2030. 

Global Aluminium Market Report Forecast Till 2030

The aluminium market is driven by growing demand for recycling aluminium that offers numerous advantages, including energy savings, resource conservation, and reduced environmental impact. By recycling aluminium, the industry can significantly reduce energy consumption as compared to primary aluminium production. According to the International Aluminium Institute, more than 30 million tonnes of aluminium scrap is recycled globally every year, which is why it is considered one of the most recycled materials on the planet. These factors fuel the market growth.


Moreover, the focus of the automotive industry on enhancing fuel efficiency and reducing vehicle weight has led to a substantial increase in the adoption of aluminium as a lightweight alternative to conventional materials. This shift has played a significant role in driving the growth of the market. According to the U.S. Aluminium Association, the amount of aluminium used per vehicle is steadily increasing and it is expected to see a net gain of 56 pounds per vehicle between 2020 and 2025, with aluminium growing by almost 100 net PPV (Purchase Price Variance) between 2020 and 2030, reaching 550 PPV.

Global Aluminium Market Report Forecast Till 2030

A key restraint of the aluminium market is environmental and regulatory constraints that lead to increased operational costs. This can be a barrier for smaller businesses or organizations with limited budgets. On the contrary, the surge in the adoption of sustainable packaging for cans, bottles, and foils is expected to create ample opportunities in the aluminium market. 

Segment Overview

  • The global aluminium market is segmented on the basis of product type, type, end-user industry, and region.
  • By product type, the market is classified into flat-rolled, casting, extrusions, forgings, powder & paste, and other types.
  • By type, the market is bifurcated into primary and secondary. 
  • By end-user industry, the market is divided into transport, consumer goods, machinery & equipment, construction, foil & packaging, electrical engineering, and others. 
  • Region-wise, the market is segmented into North America, Europe, Asia-Pacific, and rest of the world (RoW).

Global Aluminium Market Report Forecast Till 2030

The Asia-Pacific market is projected to hold the dominant share by 2030

Asia-Pacific dominates the global aluminium market, and is expected to remain dominant throughout the forecast period. This is attributed to the expanding advanced electronics industry in the region. This industry manufactures a diverse range of electronic devices and appliances, and aluminium plays a vital role in their production. Aluminium's exceptional thermal conductivity, electrical conductivity, and lightweight characteristics make it an ideal choice for various electronic applications, such as casings, heat sinks, connectors, and circuit boards. 

Global Aluminium Market Report Forecast Till 2030

The robust growth of the automotive sector in countries such as China, South Korea, and Japan is a key driver for the aluminium market. Aluminium's lightweight properties make it highly suitable for automobile manufacturing, leading to rising demand in car bodies, engine components, and structural parts. This trend contributes significantly to the expansion of the aluminium market in the automotive industry. According to the International Trade Administration, China’s domestic automotive production will reach 35 million vehicles by 2025. Based on data from the Ministry of Industry and Information Technology, over 26 million vehicles were sold in 2021, including 21.48 million passenger vehicles, an increase of 7.1% from 2020. Aluminium will play a crucial role as a building material for automotives. This, in turn, will drive the market growth. 

Global Aluminium Market Report Forecast Till 2030

Key Market Players

The key players in the aluminium market include:

• Rio Tinto 
• China Hongqiao Group Limited 
• Aluminum Corporation of China Limited (CHALCO) 
• United Company RUSAL PLC 
• Norsk Hydro ASA 
• Emirates Global Aluminium PJSC 
• Alcoa Corporation 
• East Hope Group Company Limited 
• Vedanta Aluminium & Power 
• Xinfa Group Co., Ltd. 
• Hindalco Industries Ltd. 
• South32
• Century Aluminum Company 
• Saudi Arabian Mining Company 
• Arconic, Inc.

Global Aluminium Market Report Forecast Till 2030

Recent Developments

June 2023

Hydro signed a contract to purchase land in Spain to build an aluminium recycling plant. This investment reflects Hydro's dedication to sustainability and the circular economy within the aluminium sector. The establishment of the recycling facility will enhance Hydro's ability to recycle and repurpose aluminium. This will, in turn, reduce the environmental impact and drive the growth of the aluminium recycling market.

April 2023

Alcoa announced the expansion of its EcoSource Low Carbon Alumina brand to include non-metallurgical grade alumina. This expansion demonstrates Alcoa's commitment to sustainable practices and providing low-carbon solutions in the aluminium industry. 

January 2023

Emirates Global Aluminium (EGA) launched the Aluminium Recycling Coalition, a new initiative to promote and advance aluminium recycling practices. The coalition brings together industry stakeholders to collaborate on innovative solutions and raise awareness about the importance of aluminium recycling. This initiative reflects EGA's commitment to sustainability and the circular economy, contributing to the reduced environmental impact and the growth of the aluminium market. 

September 2022

Alcoa announced innovations in alloy development and deployment. The company continuously strives to improve its alloys to meet the evolving needs of various industries. These developments reinforce Alcoa's commitment to delivering high-quality aluminium products and maintaining its position as a leader in the industry. 

Global Aluminium Market Report Forecast Till 2030

KEY BENEFITS

• The aluminium market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the aluminium trends, including current and future trends to depict prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the aluminium market is provided in the report.
• The competitive analysis of the market players along with their market share in the aluminium market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
• The value chain analysis in the market study provides a clear picture of the role of stakeholders.

Global Aluminium Market Report Forecast Till 2030

Companies Mentioned 

• Rio Tinto 
• China Hongqiao Group Limited 
• Aluminum Corporation of China Limited (CHALCO) 
• United Company RUSAL PLC 
• Norsk Hydro ASA 
• Emirates Global Aluminium PJSC 
• Alcoa Corporation 
• East Hope Group Company Limited 
• Vedanta Aluminium & Power 
• Xinfa Group Co., Ltd. 
• Hindalco Industries Ltd. 
• South32
• Century Aluminum Company 
• Saudi Arabian Mining Company 
• Arconic, Inc.

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