Alternative Protein Market Report 2025

This report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.

The aluminum billets market size has grown strongly in recent years. It will grow from $104.47 billion in 2024 to $113.43 billion in 2025 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to demand from automotive industry, demand from aerospace industry, rising construction and infrastructure development, government initiatives.

The aluminum billets market size is expected to see strong growth in the next few years. It will grow to $153.91 billion in 2029 at a compound annual growth rate (CAGR) of 7.9%. The growth in the forecast period can be attributed to increasing urbanization and infrastructure development, renewable energy infrastructure, rising demand for aluminum in the packaging industry, rising disposable incomes, aluminum based products launch. Major trends in the forecast period include technological advancements in aluminum production, transportation innovations, investments in aluminum productions.

The swift integration of billets within the automotive sector is anticipated to be a driving force behind the expansion of the aluminum billet market in the foreseeable future. The automotive industry encompasses a range of entities involved in the creation, development, production, marketing, and sale of motor vehicles. Aluminum billets are extensively utilized in the automotive sector due to their exceptional strength-to-weight ratio, resilience, and adaptability. These billets play a crucial role in the manufacturing of various automotive components, including engine parts, suspension components, wheels, transmission components, and more. As an example, a study conducted by European Aluminum in May 2023 revealed that the average aluminum usage in European cars had risen to 205 kilograms in 2022, marking an 18% increase from the 174 kilograms observed in 2020. Furthermore, projections indicate that the average aluminum content is set to climb from 205 kilograms in 2022 to 237 kilograms by 2026 (a 15.6% increase) and reach 256 kilograms per vehicle by 2030 (a 24.9% increase). Hence, the rapid adoption of billets within the automotive industry is poised to steer the growth of the aluminum billet market.

The growing utilization of aluminum billets in construction projects is poised to drive the expansion of the aluminum billets market in the future. Construction encompasses the assembly of various elements to create structures according to precise designs and plans. Aluminum billets have proven to be highly adaptable materials in construction, facilitating the creation of lightweight, durable, and corrosion-resistant building components and systems. As an example, in July 2023, the US Census Bureau reported a significant increase in the value of construction activities, which surged from $1.62 trillion in 2021 to $1.79 trillion in 2022, marking a substantial growth rate of 10.2%. Consequently, the increased use of aluminum billets in construction activities is a pivotal driver of the aluminum billets market's growth.

The scarcity of proficient labor presents a challenge that could impede the market's growth throughout the forecast period. The aluminum industry demands a workforce that is not only sizable but also well-trained, and honing these skills often requires a substantial time investment. Shortages in skilled labor can result in escalated labor costs, subsequently increasing the overall expenses associated with aluminum billet production. For instance, in July 2022, The American Welding Society, a non-profit organization headquartered in the United States, projected a shortage of approximately 400,000 workers by the year 2024, encompassing various sectors, including the aluminum manufacturing and processing industry. Consequently, the insufficiency of skilled labor is acting as a deterrent to the expansion of the aluminum billets market.

Leading companies in the aluminum billet market are prioritizing the development of innovative products, such as low-carbon aluminum value-added products, to stay ahead of the competition. These products are aluminum materials that have undergone further processing beyond the raw or primary stage to improve their properties, making them suitable for specialized applications in sectors like automotive, aerospace, packaging, and construction. For example, in September 2023, Fastmarkets, a company based in the UK, introduced two low-carbon aluminum differentials for value-added products (VAP). These new differentials aim to improve market transparency and address evolving demands. One differential focuses on low-carbon aluminum billet with a three-month timing window, while the other targets low-carbon aluminum value-added products (excluding billet) with a 12-month timing window.

Major companies operating in the aluminum billets market are Glencore PLC, BHP Group Limited, Rio Tinto PLC, Hindalco Industries Ltd., Norsk Hydro ASA, Vedanta Resources, Novelis Inc., China Hongqiao Group Limited, Alcoa Corporation, United Company RUSAL, South32 Ltd., Arconic Inc., Constellium SE, Emirates Global Aluminium (EGA), Aluminum Bahrain (Alba), Shandong Nanshan Aluminum Co. Ltd., Kaiser Aluminum Corporation, Century Aluminum Company, National Aluminium Company Limited15, Kamensk-Uralsky Metallurgical Works, Aluar Aluminio Argentino S.A.I.C, Guangxi Liuzhou Yinhai Aluminum, Aluminum Corporation of China (CHINALCO), Gulf Aluminium Rolling Mill Company (GARMCO), Vista Metals Corp., Matalco Inc., FutureX Holding Limited, Jiangyin Comat Metal Products, Shawinigan Aluminium Inc.

Asia-Pacific was the largest region in the aluminum billets market in 2024. The regions covered in aluminum billets report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the aluminum billets market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The aluminum billets market consists of sales of 7050 aluminum billets, 7075 aluminum billet, 2024 and 2014 aluminum billets and 5083 and 5086 aluminum billets. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

An aluminum billet is a solid aluminum bar or block, typically created through the hot rolling of blooms or ingots, suitable for various processes like extrusion, continuous casting, or indirect rolling and drawing. These billets serve as the initial material for a range of downstream manufacturing methods, including extrusion, forging, rolling, and machining, enabling the production of a diverse array of aluminum products.

The key categories of aluminum billets include Series 1000, Series 3000, Series 6000, and others. Series 1000 aluminum billets consist of nearly pure aluminum, with a minimum of 99% aluminum content. They are frequently employed in applications that prioritize high electrical conductivity and corrosion resistance over mechanical strength. The manufacturing techniques encompass continuous casting, direct chill casting, and semi-continuous casting, which are used to produce billets with varying diameters, levels of purity, and applications. These billets find utility in sectors such as automotive, construction, transportation, electrical and energy, and more.

The aluminum billets market research report is one of a series of new reports that provides aluminum billets market statistics, including aluminum billets industry global market size, regional shares, competitors with an aluminum billets market share, detailed aluminum billets market segments, market trends and opportunities and any further data you may need to thrive in the aluminum billets industry. This aluminum billets market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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