The global aluminium metals market is anticipated to grow at a significant CAGR of nearly 6% during the forecast period (2022-2028). The major factor expected to drive the market is the increasing demand for packaged food, rising demand for electric vehicles and OEM manufacturers, coupled with the rising substitution of stainless steel with aluminium by automotive manufacturers. In addition, the rising incorporation of aluminium in the automotive and transportation industry for reducing emissions and increasing fuel economy, further, it is used in electric vehicles for reducing the vehicle’s weight and achieving a better driving range. Furthermore, the increasing popularity of secondary aluminium and recycled aluminium due to its cost efficiency, the establishment of car dismantling and shredding facilities, and depollution centers along with large-scale adoption of the metal in the transportation industry are expected to boost the global aluminium metals market during the forecast period.
Moreover, the increasing use of aluminum in various industries such as building & construction and foil & packaging, continuous advancements in the transport industry, and ongoing R&D activities to develop innovative, more effective, and cheaper aluminum products will further amplify the growth of aluminium metals market during the forecast period. Additionally, aluminium is widely used in fitness and sports equipment such as exercise machines, baseball nets, soccer goal posts, and archery equipment.
Some major players in the market include Alcoa Corp., Aluminium Corporation of China Ltd., and Hindalco Industries Ltd., among others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance, in January 2021, Alcoa Corp. and China Power Investment Corporation (CPI) have signed a memorandum of understanding (MOU) to collaborate on projects worth more than $7.5 billion for aluminum and energy projects over the years. Furthermore, in April 2020, Novelis, a subsidiary of Hindalco Industries Ltd. acquired Aleris Corp. a global supplier of rolled aluminium products. With this Novelis has strengthened its position in the market by the integration of complementary assets including casting, rolling, finishing capabilities, and recycling. Its acquisition supports the company to meet the high demand from consumers.
For instance, in July 2020, UC Rusal (Rusal Group) announced that Krasnoyarsk Aluminium Smelter (KrAZ) has completed its transition to the EcoSoderberg technology and the company invested $ 74 million towards the modernization. Furthermore, in September 2020, Norsk Hydro ASA announced that the company is opening an aluminium research lab in Sweden to test the new aluminium alloys for their use in innovative and sustainable products.
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Market Coverage
The market number available for – 2021-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Type
By End-User Industry
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Top Major Key Players:
Alcoa Corp., Aluminium Corporation of China Ltd., and Hindalco Industries Ltd., among others.
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
A full report of aluminium metals market is available at:
Global Aluminium Metals Market Report by Segment
By Type (Primary Aluminum and Recycled Aluminum), By End-User Industry (Automotive and Transportation, Aerospace and Defense, Building and Construction, Electrical and Electronics, Packaging, and Others),
By Type
Primary Aluminum
Recycled Aluminum
By End-User Industry
Automotive and Transportation
Aerospace and Defense
Building and Construction
Electrical and Electronics
Packaging
Others
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