Aluminium Market

Aluminium Market

Aluminium Market Forecasts to 2028 - Global Analysis By Product (Plate, Sheet, Cast Products, Extrusion and Other Products), By Alloy Type (Cast Alloy and Wrought Alloy), By Processing Method, By End User and By Geography

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4.3 (25 reviews)
Published: 2023 ID: SMRC22592

This report covers the impact of COVID-19 on this global market

Years Covered


Estimated Year Value (2022)

US $172.22 BN

Projected Year Value (2028)

US $274.82 BN

CAGR (2022 - 2028)


Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

Asia Pacific

According to Stratistics MRC, the Global Aluminium Market is accounted for $172.22 billion in 2022 and is expected to reach $274.82 billion by 2028 growing at a CAGR of 8.1% during the forecast period. In the periodic table, aluminum (Al) is the 13th element and is a silvery-white, non-magnetic, and ductile metal. Tungsten makes up more than 8% of the mass of the Earth's core, making it the most common metal on the planet. Al is the symbol for this metal, which is mostly used in consumer durables, automotive, electronics, packaging, and construction. The market is anticipated to be driven by the rising demand for packaged foods and the increasing use of aluminum in place of stainless steel in the aerospace and automotive sectors.

According to the China Association of Automobile Manufacturers, in 2022, automotive production in the country reached 27.02 million units, which increased by about 3.4%, compared to 26.08 million vehicles produced in 2021.

Market Dynamics:


Increasing popularity of secondary aluminium

Aluminum can be recycled into many different items, including tractor-trailers and automotive bodies. Aluminum cans, however, typically turn into new cans made of the same metal. Moreover, recycling secondary aluminum will not really degrade the metal's purity, allowing for continuous recycling. The ongoing demand for these cans contributes to the rise in metal consumption. Recycling cans relieves pressure on landfills and conserves energy and natural resources. Almost 95% less energy is required to produce new cans from recycled metal than is required to produce cans from bauxite ore.


Implementation of strict environmental regulations

Due to the growing number of environmental issues and rising public expectations for government action to minimize pollution, several nations throughout the world have been forced to implement new rules. Governments and organizations are expected to impose such strict environmental laws in order to control commercial expansion. Additionally, a number of nations have been obliged to adopt additional regulations as a result of growing environmental concerns and rising citizen expectations for the improvement of rising pollution levels.


Rising product incorporation in the automotive & transportation industry

Al has been used in autos for a long time, but its share of modern cars is growing. With its ability to lower emissions and improve fuel efficiency, this metal is highly favored by automobile engineers and designers. The use of this metal by electric car producers helps the vehicles be lighter and have longer driving ranges. Due to aluminum's similar physical characteristics and lightweight nature, automotive manufacturers like Mercedes and BMW are replacing stainless steel with it more frequently. It is predicted that the following factors will fuel market expansion.


Decarbonization poses a challenge for the worldwide aluminum industry

One of the biggest challenges facing the global aluminium industry is decarbonization. The vast majority of companies in the aluminium industry are under intense pressure to run more sustainably. They can only achieve this by using moderate amounts of low-quality steel. These are the factors threatens the market growth.

Covid-19 Impact:

Extended lockdowns in major manufacturing sectors like construction, automotive, electronics, industrial machinery, and consumer appliances across all regions during the COVID-19 pandemic resulted in temporary production halts. As a result, the industrial sector's need for aluminum abruptly decreased. The global market's year-over-year growth rate significantly decreased in 2020 compared to 2019 because of supply chain interruptions in major consumer nations across all regions. Additionally, the demand for bauxite ore was significantly impacted across all regions due to a lack of raw materials and inventory, a temporary suspension of production, a slowdown in the economy, trade restrictions, changes in consumer behavior in response to the COVID-19 outbreak, and other considerations.

The wrought alloy segment is expected to be the largest during the forecast period

The wrought alloy segment held the largest market share globally and is anticipated to continue to dominate the market during the projected period as the metal is subjected to mechanical operations like forging, rolling, and extrusion for making wrought alloys. As a result, wrought alloys are more ductile and mechanically robust than cast alloys. As wrought alloy usage expands, more high-strength materials are needed for pressure vessels, welding rods, aircraft, and motorcycle frames, among other applications.

The building and construction segment is expected to have the highest CAGR during the forecast period

Building and Construction segment is anticipated to have the highest CAGR over the forecast period as aluminum is the second-most widely utilised metal in the building and construction sector. It is commonly used in windows, curtain walls, roofing, cladding, solar shades, solar panels, railings, shelves, and other temporary structures. The primary drivers of segment growth are the expansion of the construction and infrastructure sectors as well as the expanding product acceptance in interior countertops and cladding.

Region with largest share:

Due to the presence of large consumers such as China, Japan, and India, the Asia Pacific region dominated the global market during the projection period and was the main contributor to its growth. It is anticipated that accelerating infrastructure development and rising technological advancements will fuel market expansion. Furthermore, the market is growing as a result of expanding packaging industries in developing nations and increased metal recycling. Moreover, countries like China, India, and Japan are seeing growth in industries like electronics, building and construction, aerospace, etc.

Region with highest CAGR:

As in Japan, it is forecasted that over the forecast period, retail sales in the packaged food market will have the highest CAGR in the Asia Pacific region. Throughout the projection period, it is probable that the anticipated expansion of the packaging sector will increase demand for aluminum foil. Another significant reason propelling the market expansion in this region is the use of this metal by EV manufacturers to reduce the weight of the vehicles.

Key players in the market

Some of the key players in Aluminium market include RIO TINTO ALCAN INC, Alcoa Corporation, Aluminum Corporation of China Limited, China Hongqiao Group Limited, CHINA POWER INVESTMENT CORP, EAST HOPE GROUP COMPANY LIMITED, Emirates Global Aluminum, Hindalco Industries Ltd, Norsk Hydro ASA, UNITED COMPANY RUSAL PLC and Vedanta Aluminium & Power.

Key Developments:

In August 2022, Rio Tinto revealed its plans to invest USD 29 million in building a new Al recycling facility at its Arvida Plant in Quebec, Canada. The move is aimed toward the company’s goal to expand its offering of low-carbon aluminium solutions for customers in the packaging, automotive, and construction industries.

In July 2022, Rio Tinto announced its plans to invest USD 188 million to increase the production capacity for high value Al billets at its Alma smelter in Quebec, Canada. The investment will be used to expand the existing casting center at Rio Tinto's Alma plant. This includes the addition of new equipment such as a casting pit and furnaces, enabling a larger portion of the Al produced to be converted to higher value billets.

In February 2022, RUSAL announced to have developed an optimized 5xxx series Al alloy with anodizing ability. The company has started production of this new alloy at its Bratsk Aluminium Smelter. Due to the anodization of alloys, the final product is covered with a protective oxide film. This also improves the corrosion resistance of products, increasing their service life and enhancing their aesthetic appearance.

Products Covered:
• Plate
• Sheet
• Cast Products
• Extrusion
• Other Products

Alloy Types Covered:
• Cast Alloy
• Wrought Alloy

Processing Methods Covered:
• Castings
• Forgings
• Pigments & Powder
• Flat Rolled
• Rod & Bar
• Extrusions

End Users Covered:
• Transportation
• Construction
• Packaging
• Consumer Durables
• Electrical
• Machinery & Equipment
• Building
• Foil
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary

2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions

3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19

4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry

5 Global Aluminium Market, By Product
5.1 Introduction
5.2 Plate
5.3 Sheet
5.4 Cast Products
5.5 Extrusion
5.6 Other Products

6 Global Aluminium Market, By Alloy Type
6.1 Introduction
6.2 Cast Alloy
6.3 Wrought Alloy

7 Global Aluminium Market, By Processing Method
7.1 Introduction
7.2 Castings
7.3 Forgings
7.4 Pigments & Powder
7.5 Flat Rolled
7.6 Rod & Bar
7.7 Extrusions

8 Global Aluminium Market, By End User
8.1 Introduction
8.2 Transportation
8.2.1 Automotive
8.2.2 Aerospace
8.2.3 Marine
8.3 Construction
8.4 Packaging
8.5 Consumer Durables
8.6 Electrical
8.7 Machinery & Equipment
8.8 Building
8.9 Foil
8.10 Other End Users

9 Global Aluminium Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa

10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies

11 Company Profiling
11.2 Alcoa Corporation
11.3 Aluminum Corporation of China Limited
11.4 China Hongqiao Group Limited
11.7 Emirates Global Aluminum
11.8 Hindalco Industries Ltd
11.9 Norsk Hydro ASA
11.11 Vedanta Aluminium & Power

List of Tables
1 Global Aluminium Market Outlook, By Region (2020-2028) ($MN)
2 Global Aluminium Market Outlook, By Product (2020-2028) ($MN)
3 Global Aluminium Market Outlook, By Plate (2020-2028) ($MN)
4 Global Aluminium Market Outlook, By Sheet (2020-2028) ($MN)
5 Global Aluminium Market Outlook, By Cast Products (2020-2028) ($MN)
6 Global Aluminium Market Outlook, By Extrusion (2020-2028) ($MN)
7 Global Aluminium Market Outlook, By Other Products (2020-2028) ($MN)
8 Global Aluminium Market Outlook, By Alloy Type (2020-2028) ($MN)
9 Global Aluminium Market Outlook, By Cast Alloy (2020-2028) ($MN)
10 Global Aluminium Market Outlook, By Wrought Alloy (2020-2028) ($MN)
11 Global Aluminium Market Outlook, By Processing Method (2020-2028) ($MN)
12 Global Aluminium Market Outlook, By Castings (2020-2028) ($MN)
13 Global Aluminium Market Outlook, By Forgings (2020-2028) ($MN)
14 Global Aluminium Market Outlook, By Pigments & Powder (2020-2028) ($MN)
15 Global Aluminium Market Outlook, By Flat Rolled (2020-2028) ($MN)
16 Global Aluminium Market Outlook, By Rod & Bar (2020-2028) ($MN)
17 Global Aluminium Market Outlook, By Extrusions (2020-2028) ($MN)
18 Global Aluminium Market Outlook, By End User (2020-2028) ($MN)
19 Global Aluminium Market Outlook, By Transportation (2020-2028) ($MN)
20 Global Aluminium Market Outlook, By Automotive (2020-2028) ($MN)
21 Global Aluminium Market Outlook, By Aerospace (2020-2028) ($MN)
22 Global Aluminium Market Outlook, By Marine (2020-2028) ($MN)
23 Global Aluminium Market Outlook, By Construction (2020-2028) ($MN)
24 Global Aluminium Market Outlook, By Packaging (2020-2028) ($MN)
25 Global Aluminium Market Outlook, By Consumer Durables (2020-2028) ($MN)
26 Global Aluminium Market Outlook, By Electrical (2020-2028) ($MN)
27 Global Aluminium Market Outlook, By Machinery & Equipment (2020-2028) ($MN)
28 Global Aluminium Market Outlook, By Building (2020-2028) ($MN)
29 Global Aluminium Market Outlook, By Foil (2020-2028) ($MN)
30 Global Aluminium Market Outlook, By Other End Users (2020-2028) ($MN)

Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.

Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.

For more details about research methodology, kindly write to us at

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