Aluminum Market to grow by USD 28,014.19 million from 2022 to 2027; Growing demand for aluminum in EVs to boost the market - Technavio

NEW YORK, Aug. 10, 2023 /PRNewswire/ -- The global aluminum market size is estimated to grow by USD 28,014.19 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 3.05% during the forecast period. However, the growth momentum will progress. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 33%. For more insights on the historic market data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Aluminum Market - Segmentation Assessment

Segment Overview

Technavio has segmented the market based on End-user (Transportation, Construction, Packaging, Electrical engineering, and Others), Type (Primary aluminum and Secondary aluminum), and Geography (APAC, Europe, North America, Middle East and Africa, and South America). 

• The aluminum market share growth by the transportation segment will be significant for revenue generation. The transportation segment is anticipated to grow in the global aluminum market during the forecast period. The use of aluminum is extensively done in the aerospace, automotive, rail transportation, and marine industries. Moreover, with stable GDP, relatively low costs of crude oil, and strong passenger traffic growth the aerospace industry in APAC and the Middle East is growing significantly. Thus, the growing passenger numbers are expected to drive the global commercial aerospace sector during the forecast period.

Geography Overview

By geography, the global aluminum market is segmented into APAC, Europe, North America, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global aluminum market.

• APAC will contribute 33% to the growth of the global market during the forecast period. Growing demand for aluminum from various industries, such as the construction, automotive, and packaging industries can be observed. This fuels a strong demand for aluminum in the region. For instance, Aluminum Corp. of China Ltd., National Aluminium Co. Ltd, Xinfa Group Co. Ltd., China Hongqiao Group Ltd., and SOUTH32 are examples of the leading vendors. Hence, such factors drive the regional market during the forecast period.

Insights on the market contribution of various segments, including country and region wise historic market size (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

Aluminum Market – Market Dynamics

Key factor driving market growth

Growth in the demand for aluminum in electric vehicles drives the growth of the aluminum market. To reduce the weight and lower the energy required to operate electric vehicles, aluminum is widely used. The application of aluminum is done in various parts of electric vehicles such as the chassis, body, and wheels, and also in compartments that hold electric batteries.

Moreover, the thermal transferring capacity of aluminum benefits in extreme weather conditions by regulating the temperature around the battery modules. As a result, electric vehicles are also anticipated as the future of the automotive industry. Thus, the growing electric vehicle market is estimated to fuel the demand for aluminum during the forecast period.

Leading trends influencing the market 

The rising significance of secondary aluminum is an emerging aluminum market trend. Secondary aluminum can be termed as that aluminum from end-of-life products.

It is subjected to recycling and used to separate aluminum from other materials and alloys and remove contaminants to improve the quality and value of the scrap including laser-induced breakdown spectroscopy and color sorting. Hence, such trends fuel the demand for aluminum during the forecast period.

Major challenges hindering the market growth

The presence of substitute products challenges aluminum growth. Various substitutes are widely used in the packaging, transportation, construction, and electrical and electronic industries, among others. Glass, paper, and plastic are all examples of aluminum.

Also, in the transportation industry, polymer composite materials are giving aluminum stiff competition in the production of aircraft fuselages and wings for aircraft. Hence, such challenges impede the demand for aluminum during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021), and forecast period (2023 to 2027)- Request a sample report!

What are the key data covered in this Aluminum Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the aluminum market between 2023 and 2027
• Precise estimation of the size of the aluminum market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the aluminum market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of aluminum market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global aluminum market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global aluminum market 2017 - 2021 ($ million)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Transportation - Market size and forecast 2022-2027 
• Exhibit 34: Chart on Transportation - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on Transportation - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on Transportation - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Transportation - Year-over-year growth 2022-2027 (%)

• 6.4 Construction - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Construction - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Construction - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Construction - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Construction - Year-over-year growth 2022-2027 (%)

• 6.5 Packaging - Market size and forecast 2022-2027 
• Exhibit 42: Chart on Packaging - Market size and forecast 2022-2027 ($ million)
• Exhibit 43: Data Table on Packaging - Market size and forecast 2022-2027 ($ million)
• Exhibit 44: Chart on Packaging - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Packaging - Year-over-year growth 2022-2027 (%)

• 6.6 Electrical engineering - Market size and forecast 2022-2027 
• Exhibit 46: Chart on Electrical engineering - Market size and forecast 2022-2027 ($ million)
• Exhibit 47: Data Table on Electrical engineering - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Chart on Electrical engineering - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Electrical engineering - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027 
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user ($ million)
• Exhibit 55: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Type

• 7.1 Market segments
• Exhibit 56: Chart on Type - Market share 2022-2027 (%)
• Exhibit 57: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type
• Exhibit 58: Chart on Comparison by Type
• Exhibit 59: Data Table on Comparison by Type

• 7.3 Primary aluminum - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Primary aluminum - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Primary aluminum - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Primary aluminum - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Primary aluminum - Year-over-year growth 2022-2027 (%)

• 7.4 Secondary aluminum - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Secondary aluminum - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Secondary aluminum - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Secondary aluminum - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Secondary aluminum - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 68: Market opportunity by Type ($ million)
• Exhibit 69: Data Table on Market opportunity by Type ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027 
• Exhibit 83: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027 
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 US - Market size and forecast 2022-2027 
• Exhibit 99: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.10 India - Market size and forecast 2022-2027 
• Exhibit 103: Chart on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on India - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.11 Germany - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 111: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Alcoa Corp.
• Exhibit 123: Alcoa Corp. - Overview
• Exhibit 124: Alcoa Corp. - Business segments
• Exhibit 125: Alcoa Corp. - Key offerings
• Exhibit 126: Alcoa Corp. - Segment focus

• 12.4 Aluminum Corp. of China Ltd. 
• Exhibit 127: Aluminum Corp. of China Ltd. - Overview
• Exhibit 128: Aluminum Corp. of China Ltd. - Business segments
• Exhibit 129: Aluminum Corp. of China Ltd. - Key offerings
• Exhibit 130: Aluminum Corp. of China Ltd. - Segment focus

• 12.5 Century Aluminum Co.
• Exhibit 131: Century Aluminum Co. - Overview
• Exhibit 132: Century Aluminum Co. - Product / Service
• Exhibit 133: Century Aluminum Co. - Key offerings

• 12.6 China Hongqiao Group Ltd. 
• Exhibit 134: China Hongqiao Group Ltd. - Overview
• Exhibit 135: China Hongqiao Group Ltd. - Product / Service
• Exhibit 136: China Hongqiao Group Ltd. - Key offerings

• 12.7 China Zhongwang Holdings Ltd. 
• Exhibit 137: China Zhongwang Holdings Ltd. - Overview
• Exhibit 138: China Zhongwang Holdings Ltd. - Product / Service
• Exhibit 139: China Zhongwang Holdings Ltd. - Key offerings

• 12.8 Emirates Global Aluminium PJSC 
• Exhibit 140: Emirates Global Aluminium PJSC - Overview
• Exhibit 141: Emirates Global Aluminium PJSC - Product / Service
• Exhibit 142: Emirates Global Aluminium PJSC - Key offerings

• 12.9 Hindalco Industries Ltd. 
• Exhibit 143: Hindalco Industries Ltd. - Overview
• Exhibit 144: Hindalco Industries Ltd. - Business segments
• Exhibit 145: Hindalco Industries Ltd. - Key offerings
• Exhibit 146: Hindalco Industries Ltd. - Segment focus

• 12.10 HP Inc.
• Exhibit 147: HP Inc. - Overview
• Exhibit 148: HP Inc. - Business segments
• Exhibit 149: HP Inc. - Key news
• Exhibit 150: HP Inc. - Key offerings
• Exhibit 151: HP Inc. - Segment focus

• 12.11 Kaiser Aluminum Corp. 
• Exhibit 152: Kaiser Aluminum Corp. - Overview
• Exhibit 153: Kaiser Aluminum Corp. - Product / Service
• Exhibit 154: Kaiser Aluminum Corp. - Key offerings

• 12.12 Norsk Hydro ASA
• Exhibit 155: Norsk Hydro ASA - Overview
• Exhibit 156: Norsk Hydro ASA - Business segments
• Exhibit 157: Norsk Hydro ASA - Key offerings
• Exhibit 158: Norsk Hydro ASA - Segment focus

• 12.13 Rio Tinto Ltd.
• Exhibit 159: Rio Tinto Ltd. - Overview
• Exhibit 160: Rio Tinto Ltd. - Business segments
• Exhibit 161: Rio Tinto Ltd. - Key news
• Exhibit 162: Rio Tinto Ltd. - Key offerings
• Exhibit 163: Rio Tinto Ltd. - Segment focus

• 12.14 Saudi Arabian Mining Co. 
• Exhibit 164: Saudi Arabian Mining Co. - Overview
• Exhibit 165: Saudi Arabian Mining Co. - Business segments
• Exhibit 166: Saudi Arabian Mining Co. - Key offerings
• Exhibit 167: Saudi Arabian Mining Co. - Segment focus

• 12.15 State Power Investment Corp. 
• Exhibit 168: State Power Investment Corp. - Overview
• Exhibit 169: State Power Investment Corp. - Product / Service
• Exhibit 170: State Power Investment Corp. - Key offerings

• 12.16 United Company RUSAL
• Exhibit 171: United Company RUSAL - Overview
• Exhibit 172: United Company RUSAL - Business segments
• Exhibit 173: United Company RUSAL - Key offerings
• Exhibit 174: United Company RUSAL - Segment focus

• 12.17 Vedanta Ltd.
• Exhibit 175: Vedanta Ltd. - Overview
• Exhibit 176: Vedanta Ltd. - Business segments
• Exhibit 177: Vedanta Ltd. - Key news
• Exhibit 178: Vedanta Ltd. - Key offerings
• Exhibit 179: Vedanta Ltd. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 180: Inclusions checklist
• Exhibit 181: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 182: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 183: Research methodology
• Exhibit 184: Validation techniques employed for market sizing
• Exhibit 185: Information sources

• 13.5 List of abbreviations 
• Exhibit 186: List of abbreviations

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