Covid-19 Impact on Aluminum Market:
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply of raw materials, which directly affected the manufacturing process. Further, the halt in many end-use industries directly affected the chemical demand all around the world.
Aluminum Market Overview
The global Aluminium Market was valued at $148.12 billion in 2021 and is expected to reach $258.3 billion by 2030, rising at a 5.82% CAGR between 2023 and 2030.
Aluminum is an electronegative metal, which possesses a strong affinity for oxygen. It is the sixth most ductile and second most malleable metal present on earth. The growth of the global Aluminum market is mainly driven by development in the transport industry, technological advancements in aluminum manufacturing technologies and processing equipment, and increasing usage of aluminum in various industries such as building & construction and foil & packaging. Furthermore, continuously increasing R&D activities to develop innovative, more effective, and cheaper aluminum products are remarkably boosting the growth of the market.
On the other side, increasing competition from substitutes and fluctuations in prices of raw materials such as alumina are some factors that hamper the aluminum market growth. Besides this, growing demand from emerging economies such as China & India and increasing use of recycled aluminum products globally provide profitable opportunities for market development. In addition, lowering energy requirements is one of the major challenges faced by the aluminum industry.
Aluminum Market Segment Overview
Based on the processing method, the Flat-Rolled segment has remarkable growth in the market. This is attributed to the increasing demand for flat-rolled products such as plate, sheet, and foil owing to properties of lightness, strength, and durability. Through rolling processing, the product can be rolled to the desired thickness, making it highly versatile for diverse industrial applications.
Moreover, the Electrical & electronics application segment accounted for the largest market share over the forecast period. Growing demand for electronics products such as cell phones, laptops, and other electronic gadgets may induce aluminum owing to its lightweight and high strength properties.
In addition, the rise in government spending on infrastructure development, and residential projects is propelling the product demand. Ultimately it boosts the growth of the Aluminum market.
Aluminum Market, By End User Industry
· Transport
· Building & Construction
· Electrical Engineering
· Consumer Goods
· Foil & Packaging
· Machinery & Equipment
· Others
Aluminum Market, By Processing Method
· Flat Rolled
· Castings
· Extrusions
· Forgings
· Pigments & Powder
· Rod & Bar
Aluminum Market, By Series
· Series 1
· Series 2
· Series 3
· Series 4
· Series 5
· Series 6
· Series 7
· Series 8
Aluminum Regional Market Overview
Region-wise, Asia Pacific is expected to register the fastest growth during the forecast period. This can be attributed to growth in income, rapid industrial development, and the booming construction sector in this region. China accounted for the highest aluminum market share in the Asia-Pacific aluminum market owing to huge urbanization and industrial development. In addition, new product developments, capacity expansions, and acquisitions are the main strategies used by Chinese manufacturers to increase their market share.
Aluminum Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Aluminum Market Competitor overview
Some key developments and strategies adopted by manufacturers in the aluminum market are highlighted below.
· In January 2021, Dubai Electricity and Water Authority (DEWA) and Emirates Global Aluminium (EGA) announced that the UAE has become the first country in the world to produce aluminum using the power of the sun. DEWA and EGA signed an agreement under which DEWA will supply EGA’s smelter with solar power from the Mohammed bin Rashid Al Maktoum Solar Park.
· In April 2019, Novelis Inc., the world leader in aluminum rolling and recycling, announced it has developed the first aluminum sheet battery enclosure solution to address customers' needs in the rapidly growing electric vehicle and battery markets.
Aluminum Market, Key Players
· Alcoa Corporation
· Aluminium Corporation of China Limited (CHALCO)
· China Hongqiao Group Ltd.
· China Power Investment Corp. (CPI)
· East Hope Group Company Limited
· Emirates Global Aluminum PJSC
· Norsk Hydro ASA
· Rio Tinto Alcan Inc.
· United Company RUSAL Plc.
· Xinfa Group Co., Ltd.
The ongoing COVID-19 pandemic conditions have severely affected every sector around the world. Whereas, the chemicals and materials sectors were moderately affected during the pandemic. This is primarily due to the uncut demand for chemicals for healthcare, life science, and cleaning agents. However, other elements of chemical and material sectors such as paints, industrial oil, and construction materials are facing a diminution in demand. Strict lockdown resulted in a nearly 50-60% reduction in the supply of raw materials, which directly affected the manufacturing process. Further, the halt in many end-use industries directly affected the chemical demand all around the world.
Aluminum Market Overview
The global Aluminium Market was valued at $148.12 billion in 2021 and is expected to reach $258.3 billion by 2030, rising at a 5.82% CAGR between 2023 and 2030.
Aluminum is an electronegative metal, which possesses a strong affinity for oxygen. It is the sixth most ductile and second most malleable metal present on earth. The growth of the global Aluminum market is mainly driven by development in the transport industry, technological advancements in aluminum manufacturing technologies and processing equipment, and increasing usage of aluminum in various industries such as building & construction and foil & packaging. Furthermore, continuously increasing R&D activities to develop innovative, more effective, and cheaper aluminum products are remarkably boosting the growth of the market.
On the other side, increasing competition from substitutes and fluctuations in prices of raw materials such as alumina are some factors that hamper the aluminum market growth. Besides this, growing demand from emerging economies such as China & India and increasing use of recycled aluminum products globally provide profitable opportunities for market development. In addition, lowering energy requirements is one of the major challenges faced by the aluminum industry.
Aluminum Market Segment Overview
Based on the processing method, the Flat-Rolled segment has remarkable growth in the market. This is attributed to the increasing demand for flat-rolled products such as plate, sheet, and foil owing to properties of lightness, strength, and durability. Through rolling processing, the product can be rolled to the desired thickness, making it highly versatile for diverse industrial applications.
Moreover, the Electrical & electronics application segment accounted for the largest market share over the forecast period. Growing demand for electronics products such as cell phones, laptops, and other electronic gadgets may induce aluminum owing to its lightweight and high strength properties.
In addition, the rise in government spending on infrastructure development, and residential projects is propelling the product demand. Ultimately it boosts the growth of the Aluminum market.
Aluminum Market, By End User Industry
· Transport
· Building & Construction
· Electrical Engineering
· Consumer Goods
· Foil & Packaging
· Machinery & Equipment
· Others
Aluminum Market, By Processing Method
· Flat Rolled
· Castings
· Extrusions
· Forgings
· Pigments & Powder
· Rod & Bar
Aluminum Market, By Series
· Series 1
· Series 2
· Series 3
· Series 4
· Series 5
· Series 6
· Series 7
· Series 8
Aluminum Regional Market Overview
Region-wise, Asia Pacific is expected to register the fastest growth during the forecast period. This can be attributed to growth in income, rapid industrial development, and the booming construction sector in this region. China accounted for the highest aluminum market share in the Asia-Pacific aluminum market owing to huge urbanization and industrial development. In addition, new product developments, capacity expansions, and acquisitions are the main strategies used by Chinese manufacturers to increase their market share.
Aluminum Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Aluminum Market Competitor overview
Some key developments and strategies adopted by manufacturers in the aluminum market are highlighted below.
· In January 2021, Dubai Electricity and Water Authority (DEWA) and Emirates Global Aluminium (EGA) announced that the UAE has become the first country in the world to produce aluminum using the power of the sun. DEWA and EGA signed an agreement under which DEWA will supply EGA’s smelter with solar power from the Mohammed bin Rashid Al Maktoum Solar Park.
· In April 2019, Novelis Inc., the world leader in aluminum rolling and recycling, announced it has developed the first aluminum sheet battery enclosure solution to address customers' needs in the rapidly growing electric vehicle and battery markets.
Aluminum Market, Key Players
· Alcoa Corporation
· Aluminium Corporation of China Limited (CHALCO)
· China Hongqiao Group Ltd.
· China Power Investment Corp. (CPI)
· East Hope Group Company Limited
· Emirates Global Aluminum PJSC
· Norsk Hydro ASA
· Rio Tinto Alcan Inc.
· United Company RUSAL Plc.
· Xinfa Group Co., Ltd.
Aluminum Market Study Global Market Analysis, Insights and Forecast, 2023-2030
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Aluminum Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By End User Industry
- 5.2.1. Transport
- 5.2.2. Building & Construction
- 5.2.3. Electrical Engineering
- 5.2.4. Consumer Goods
- 5.2.5. Foil & Packaging
- 5.2.6. Machinery & Equipment
- 5.2.7. Others
- 5.3. Market Analysis, Insights and Forecast – By Processing Method
- 5.3.1. Flat Rolled
- 5.3.2. Castings
- 5.3.3. Extrusions
- 5.3.4. Forgings
- 5.3.5. Pigments & Powder
- 5.3.6. Rod & Bar
- 5.4. Market Analysis, Insights and Forecast – By Series
- 5.4.1. Series 1
- 5.4.2. Series 2
- 5.4.3. Series 3
- 5.4.4. Series 4
- 5.4.5. Series 5
- 5.4.6. Series 6
- 5.4.7. Series 7
- 5.4.8. Series 8
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Latin America
- 5.5.3. Europe
- 5.5.4. Asia Pacific
- 5.5.5. Middle East and Africa
6. North America Aluminum Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By End User Industry
- 6.2.1. Transport
- 6.2.2. Building & Construction
- 6.2.3. Electrical Engineering
- 6.2.4. Consumer Goods
- 6.2.5. Foil & Packaging
- 6.2.6. Machinery & Equipment
- 6.2.7. Others
- 6.3. Market Analysis, Insights and Forecast – By Processing Method
- 6.3.1. Flat Rolled
- 6.3.2. Castings
- 6.3.3. Extrusions
- 6.3.4. Forgings
- 6.3.5. Pigments & Powder
- 6.3.6. Rod & Bar
- 6.4. Market Analysis, Insights and Forecast – By Series
- 6.4.1. Series 1
- 6.4.2. Series 2
- 6.4.3. Series 3
- 6.4.4. Series 4
- 6.4.5. Series 5
- 6.4.6. Series 6
- 6.4.7. Series 7
- 6.4.8. Series 8
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
7. Latin America Aluminum Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By End User Industry
- 7.2.1. Transport
- 7.2.2. Building & Construction
- 7.2.3. Electrical Engineering
- 7.2.4. Consumer Goods
- 7.2.5. Foil & Packaging
- 7.2.6. Machinery & Equipment
- 7.2.7. Others
- 7.3. Market Analysis, Insights and Forecast – By Processing Method
- 7.3.1. Flat Rolled
- 7.3.2. Castings
- 7.3.3. Extrusions
- 7.3.4. Forgings
- 7.3.5. Pigments & Powder
- 7.3.6. Rod & Bar
- 7.4. Market Analysis, Insights and Forecast – By Series
- 7.4.1. Series 1
- 7.4.2. Series 2
- 7.4.3. Series 3
- 7.4.4. Series 4
- 7.4.5. Series 5
- 7.4.6. Series 6
- 7.4.7. Series 7
- 7.4.8. Series 8
- 7.5. Insights and Forecast – By Country
- 7.5.1. Brazil
- 7.5.2. Mexico
- 7.5.3. Rest of Latin America
8. Europe Aluminum Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By End User Industry
- 8.2.1. Transport
- 8.2.2. Building & Construction
- 8.2.3. Electrical Engineering
- 8.2.4. Consumer Goods
- 8.2.5. Foil & Packaging
- 8.2.6. Machinery & Equipment
- 8.2.7. Others
- 8.3. Market Analysis, Insights and Forecast – By Processing Method
- 8.3.1. Flat Rolled
- 8.3.2. Castings
- 8.3.3. Extrusions
- 8.3.4. Forgings
- 8.3.5. Pigments & Powder
- 8.3.6. Rod & Bar
- 8.4. Market Analysis, Insights and Forecast – By Series
- 8.4.1. Series 1
- 8.4.2. Series 2
- 8.4.3. Series 3
- 8.4.4. Series 4
- 8.4.5. Series 5
- 8.4.6. Series 6
- 8.4.7. Series 7
- 8.4.8. Series 8
- 8.5. Market Analysis, Insights and Forecast – By Country
- 8.5.1. UK
- 8.5.2. Germany
- 8.5.3. France
- 8.5.4. Italy
- 8.5.5. Spain
- 8.5.6. Russia
- 8.5.7. Rest of Europe
9. Asia Pacific Aluminum Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By End User Industry
- 9.2.1. Transport
- 9.2.2. Building & Construction
- 9.2.3. Electrical Engineering
- 9.2.4. Consumer Goods
- 9.2.5. Foil & Packaging
- 9.2.6. Machinery & Equipment
- 9.2.7. Others
- 9.3. Market Analysis, Insights and Forecast – By Processing Method
- 9.3.1. Flat Rolled
- 9.3.2. Castings
- 9.3.3. Extrusions
- 9.3.4. Forgings
- 9.3.5. Pigments & Powder
- 9.3.6. Rod & Bar
- 9.4. Market Analysis, Insights and Forecast – By Series
- 9.4.1. Series 1
- 9.4.2. Series 2
- 9.4.3. Series 3
- 9.4.4. Series 4
- 9.4.5. Series 5
- 9.4.6. Series 6
- 9.4.7. Series 7
- 9.4.8. Series 8
- 9.5. Market Analysis, Insights and Forecast – By Country
- 9.5.1. China
- 9.5.2. India
- 9.5.3. Japan
- 9.5.4. Australia
- 9.5.5. South East Asia
- 9.5.6. Rest of Asia Pacific
10. Middle East & Africa Aluminum Market Analysis (USD Billion), Insights and Forecast, 2023-2030
- 10.1. Key Findings / Summary
- 10.2. Market Analysis, Insights and Forecast – By End User Industry
- 10.2.1. Transport
- 10.2.2. Building & Construction
- 10.2.3. Electrical Engineering
- 10.2.4. Consumer Goods
- 10.2.5. Foil & Packaging
- 10.2.6. Machinery & Equipment
- 10.2.7. Others
- 10.3. Market Analysis, Insights and Forecast – By Processing Method
- 10.3.1. Flat Rolled
- 10.3.2. Castings
- 10.3.3. Extrusions
- 10.3.4. Forgings
- 10.3.5. Pigments & Powder
- 10.3.6. Rod & Bar
- 10.4. Market Analysis, Insights and Forecast – By Series
- 10.4.1. Series 1
- 10.4.2. Series 2
- 10.4.3. Series 3
- 10.4.4. Series 4
- 10.4.5. Series 5
- 10.4.6. Series 6
- 10.4.7. Series 7
- 10.4.8. Series 8
- 10.5. Market Analysis, Insights and Forecast – By Country
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
11. Competitive Analysis
- 11.1. Company Market Share Analysis, 2021
- 11.2. Key Industry Developments
- 11.3. Company Profile
- 11.4. Alcoa Corporation
- 11.4.1. Business Overview
- 11.4.2. Segment 1 & Service Offering
- 11.4.3. Overall Revenue
- 11.4.4. Geographic Presence
- 11.4.5. Recent Development
- 11.5. Aluminium Corporation of China Limited (CHALCO)
- 11.6. China Hongqiao Group Ltd.
- 11.7. China Power Investment Corp. (CPI)
- 11.8. East Hope Group Company Limited
- 11.9. Emirates Global Aluminum PJSC
- 11.10. Norsk Hydro ASA
- 11.11. Rio Tinto Alcan Inc.
- 11.12. United Company RUSAL Plc.
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
