Aluminum Market, Driving factors, industry challenges, segmentation, key vendor analysis, leading countries, and market size

Published February 15, 2023


Aluminum Market is projected to be worth USD 2,64,155.3 million by 2030, registering a CAGR of 5.2% during the forecast period (2022 – 2030).

As per the analysts, the global market is anticipated to witness growth owing to the factors such as increasing demand for aluminum in china as well as increasing use of high-strength aluminum in aerospace. However, the market will face challenges and restraints due to adverse effects of bauxite mining and concerns regarding high levels of pollution during the forecast period 2022-2030. 

The government’s influence in facilitating the availability in the global market is set to play a key role in determining the growth potential during 2022 – 2030 years. Analysts have also studied the global market to understand potential threats and challenges the aluminum market companies could face. Although the market is poised to grow at a fast pace across type, applications, and products segments, factors such as secondary aluminum could slow down the market’s growth worldwide. 

Market Segmentation 

The Aluminum Market has been segmented into type, applications, and products. Based on the segment which is type, the market is categorized on the basis of primary and secondary. The global market for aluminum is further segmented based on applications into building & construction, electrical, foil & packaging, hardware & accessories, machinery & equipment, solar industry, transportation, utensils, and others. Furthermore, the market, on the basis of products is segmented into castings, extrusions, flat-rolled, forgings, pigments & powder, and rod & bar. 

The global aluminum industry research report covers all the aspects of the market based on the segmental analysis of these type, applications, and products segments. Analysts have also studied the global market’s regional markets spread across many continents and countries. The type, applications, and products segments along with their sub-segments have been analyzed and companies functioning in the aluminum industry across these segments are profiled and analyzed based on input and feedback from market based decision makers as well as primary and secondary sources. The market research report presents analysis based information for companies functioning in the market. 

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Regional Overview 

Countries bringing secondary aluminum in picture may hinder the aluminum market growth. The market research report suggests that companies in the aluminum industry could be supported by qualities such as corrosion resistance as well as good thermal & electrical conductivity during the forecast period. The global market is set to register growth at a high CAGR owing to these key factors. The market is spread across North America, Europe, Asia-Pacific, and other parts of the world. The global aluminum market research report reveals that APAC, North America, and Europe regional markets will dominate the global market for aluminum during the forecast period 2022 – 2030. As per market analysts, the market is set to witness tremendous growth across type, applications, and products segments in North America which covers markets across the United States, Canada, Mexico and several other regional markets. Companies active in the aluminum market are also analyzed and studied in the market research report. In 2018, the building & construction sector held around 30% of the aluminium market, and it is projected to develop at a CAGR of 6.7 percent over the forthcoming years. 

The market for Europe covers smaller market segments of Germany, Italy, France, and the United Kingdom. Additionally, the global market research report covers the Asia-Pacific region covering aluminum markets from India, China, Japan, Australia, and others. The aluminum Industry is also spread across the rest of the world. The report covers all such regions including the Middle East, Africa, Brazil, and others. 

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Competitive Landscape 

Aluminum has seen increased demand over the years, due to demand from the aerospace sector and use of aluminum die cast products in the automotive industry. Companies functioning in the global market are also being challenged due to raw material price fluctuations and easy availability of substitutes. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2022 – 2030. As the aluminum market is set to register a high CAGR of 6.5% and is also anticipated to reach a USD 235.8 billion by 2025, the report highlights key areas companies need to focus on. The report suggests that the market will see a healthy growth in the long run till 2025. Based on SWOT analysis and market’s analysis based on Porters’ Five Force Model presented in the market report. Mergers and acquisitions by market companies are anticipated to help the market during the forecast period 2022 – 2030.

Industry News 

KPS Capital Partners, LP today announced the completion by the Norsk Hydro ASAof a final €1,38 billion contract for global aluminium rolling. The deal is scheduled to be completed in mid-2021 and is subject to usual closing terms and authorisations. The company is one of the world’s biggest producers of rolling aluminium materials and serves consumers in a diverse range of end-markets including drinks, automobile, film packaging and construction.

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