Aluminium Market Report and Forecast 2023-2028

According to the report, the global aluminium market is projected to grow at a CAGR of 3.63% between 2023 and 2028. Aided by the increasing demand in various industries such as construction, automotive, and packaging, the market is expected to grow significantly by 2028.

Aluminium, a lightweight and durable metal, plays an integral role in a broad spectrum of applications due to its exceptional conductivity, corrosion resistance, and recyclability. It is extensively used in the construction, automotive, aerospace, and packaging industries.

The construction sector is bolstering the aluminium market demand, employing it in structures, windows, doors, and curtain walling. The material’s lightweight and robust nature allows for innovative and sustainable building designs, leading to its increased adoption in contemporary architecture. As global construction activities rise, so does the demand for aluminium.

In the automotive sector, aluminium is used for its strength-to-weight ratio, which is critical for fuel efficiency and reducing emissions in vehicles. As governments tighten regulations on vehicle emissions and fuel economy, aluminium is expected to continue to gain traction as a material of choice in this sector.

One of aluminium's standout features is its recyclability, which is escalating the aluminium market growth. The metal can be recycled without losing its original properties, contributing to the growing emphasis on circular economy practices. This eco-friendly aspect is making aluminium increasingly appealing in today’s environmentally conscious market.

Moreover, there is growing interest and investment in technologies that can produce aluminium using renewable energy or more efficient processes. 'Green aluminium' - produced using renewable energy sources - is gaining traction and could redefine industry standards in the years to come.

China dominates the global aluminium production landscape, followed by India, Russia, and the Middle East. Geopolitical tensions and trade policies have significant impacts on aluminium prices and availability, with shifts in supply chains and changes in tariffs affecting the global market.

The Asia-Pacific, led by China, holds a significant portion of the global aluminium market share, due to booming construction and automotive industries. The demand in North America and Europe is also substantial, spurred by stringent vehicle emission standards and a surge in green construction practices.

Market Segmentation

The market can be divided based on type, processing method, end use, and region.

Market Breakup by Type

• Primary
• Secondary

Market Breakup by Processing Method

• Flat Rolled
• Castings
• Extrusions
• Forgings
• Pigments and Powder
• Rod and Bar
• Sheet
• Others

Market Breakup by End Use

• Transport
• Construction
• Electrical
• Machinery and Equipment
• Packaging and Foil
• Consumer Goods
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global aluminium market.

Some of the major players explored in the report are as follows:

• RusAL
• Chalco Aluminum Co. Ltd
• Rio Tinto plc
• China Hongqiao Group Co., Ltd.
• Alcoa Corporation
• Emirates Global Aluminium PJSC
• Shandong Xinfa Aluminum Co., Ltd.
• Norsk Hydro ASA
• Vedanta Limited
• Hindalco Industries Limited
• Others

About the Analyst

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.