Aluminum Market by End User (Transport, Building & Construction, Electrical Engineering, Consumer Goods, Foil & Packaging, Machinery & Equipment, and Others), Processing Method (Flat Rolled, Castings, Extrusions, Forgings, Pigments & Powder, and Rod & Bar) and Series (Series 1, Series 2, Series 3, Series 4, Series 5, Series 6, Series 7 and Series 8) - Global Opportunity Analysis and Industry Forecast, 2019-2026
The global aluminum market was valued at $147.2 billion in 2018, and is projected to reach $189.8 billion by 2026, growing at a CAGR of 3.2% from 2019 to 2026.
Aluminum is a lightweight, nonmagnetic, soft, and ductile metal present in the boron group. It is the third most abundant element found in the earth’s crust. It is usually extracted from minerals such as cryolite and bauxite. It forms a reflective coating when evaporated in vacuum, which is utilized for manufacturing of telescope mirrors, packaging products, and toys. It is used in the production of a variety of products such as foils, window frames, kitchen utensils, airplane parts, beer kegs, and others.
Growth in transport industry and technological advancements in aluminum manufacturing technologies and processing equipment are the major factors that drive the growth of the aluminum market. Rapid increase in applications in various end-user industries such as construction and packaging further fuel the market growth. Asia-Pacific is expected to register substantial growth owing to increasing income of people in urban areas, rapid industrial development, and massive urbanization in emerging economies such as China & India. Increase in use of substitutes such as carbon fiber and fluctuation in prices of raw materials are some of the factors restraining the market growth. However, rise in demand for recycled aluminum products is expected to provide potential growth opportunities for the industry.
The market is segmented into grades, end user, processing method, and region. Based on grades, it is categorized into series 1, series 2, series 3, series 4, series 5, series 6, series 7, and series 8. Based on end user, it is classified into transport, building & construction, electrical engineering, consumer goods, foil & packaging, machinery & equipment, and others (solar panel nanotechnology and aluminum air batteries). The processing method segment is divided into flat rolled, castings, extrusions, forgings, pigments & powder, and rod & bar. Based on region, the market is analyzed across North America, Europe, and LAMEA.
Key players operating in the global aluminum market are Alcoa Corporation, Aluminium Corporation of China Limited (CHALCO), Aluminum Bahrain B.S.C., China Hongqiao Group Ltd., East Hope Group Company Limited, Emirates Global Aluminium PJSC, Norsk Hydro ASA, Rio Tinto Alcan Inc., United Company RUSAL Plc. and Xinfa Group Co., Ltd.
KEY BENEFITS FOR STAKEHOLDERS
The report includes in-depth analysis of different segments and provides market estimations between 2019 and 2026
A comprehensive analysis of the factors that drive and restrict the growth of the market is provided
Porter’s Five Forces model illustrates the potency of buyers & sellers, which is estimated to assist the market players to adopt effective strategies
Estimations and forecast are based on factors impacting the market growth, in terms of both value and volume
Key market players are profiled to gain an understanding of the strategies adopted by them
This report provides a detailed analysis of the current trends and future estimations from 2019 to 2026, which helps identify the prevailing market opportunities
KEY MARKET SEGMENTS
By Processing Method
Pigments & Powder
Rod & Bar
By End User Industry
Building & Construction
Foil & Packaging
Machinery & Equipment
Others (Solar Panel Nanotechnology and Aluminum Air Batteries)
Rest of Europe
Rest of Asia-Pacific
Rest of LAMEA
KEY MARKET PLAYERS
Aluminium Corporation of China Limited (CHALCO)
Aluminum Bahrain B.S.C.
China Hongqiao Group Ltd.
East Hope Group Company Limited
Emirates Global Aluminium PJSC
Norsk Hydro ASA
Rio Tinto Alcan Inc.
United Company RUSAL plc.
Xinfa Group Co., Ltd.
The other players operating in the value chain of the global aluminum market are Ball Corporation, BHP Billiton Limited, Century Aluminium Company, Crown Holdings Incorporated, Constellium N.V., Glencore International AG, Hindalco Industries Ltd., Jindal Iron & Steel Company Limited , JW Aluminum Company, Kaiser Aluminum Corporation, National Aluminum Company Limited, Orkla ASA, Rexam plc, Shandong Nanshan Aluminum Co., Ltd., South32 Limited, State Power Investment Corporation, Talco Aluminum Company, Vale SA, and Vedanta Resources Plc.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook