Aluminium Market Overview:
Aluminium Market was valued at $133,564 million in 2015, and is expected to reach $167,277 million by 2022, registering a CAGR of 3.3% from 2016 to 2022. Aluminium is an electronegative metal, which possesses strong affinity for oxygen. It is the sixth most ductile and second most malleable metal present on earth. It is exceptionally light having 2.7g/ccm density, is impervious to dust, possesses high degree of conductivity, and exhibits significant strength when alloyed. It is widely used in food & packaging and pharmaceutical industries, as it is nontoxic in nature, preserves food for prolonged times, inhibits growth of microorganisms. Aluminium is good electrical conductor and thus is used frequently in electrical transmission lines. In addition, it is used as primary propellant for solid rocket booster motor in space shuttle due to its high volumetric energy density. Corrosion resistance, reflectivity, and recyclability are other characteristics of aluminium, which makes it a favorable choice for various industrial applications.
The growth of the global aluminium market is driven by development in the transport industry, technological advancements in aluminium manufacturing technologies and processing equipment, and increase in usage of aluminium in various industries such as building & construction and foil & packaging. Asia-Pacific is the leading region, in terms of growth, due to massive urbanization, growth in income of people living in urban areas, and rapid industrial development. In addition, continuous advancements in transport industry and ongoing R&D activities to develop innovative, more effective, and cheaper aluminium products fuel the growth of the market. However, increase in competition from substitutes and fluctuations in prices of raw materials such as alumina are some factors that limit the market growth. Growth in demand from emerging economies such as China & India and increase in use of recycled aluminium products globally provides lucrative opportunities for the market expansion. Lowering energy requirement is one of the major challenges faced by aluminium industry.
Aluminium market is segmented based on end user, processing method, and geography. On the basis of end user, the market is categorized into transport, building & construction, electrical engineering, consumer goods, foil & packaging, machinery & equipment, and others (solar panel nanotechnology and aluminium air batteries). According to processing, the market is divided into flat rolled, castings, extrusions, forgings, pigments & powder, and rod & bar. Geographical breakdown and deep analysis of each of the aforesaid segments is included for North America, Europe, Asia-Pacific, and LAMEA.
Rise in global economic growth rate is expected to increase the construction spending of customers in advanced and emerging economies, which in turn assists in aluminium market expansion.
Global Economic Growth Rate by Area, 2015-2017
Market Share Analysis
Aluminium industry is a highly competitive sector. United Company RUSAL Plc., Aluminium Corporation of China Limited (CHALCO), Rio Tinto Alcan Inc. were the top three producers, in terms of market share, in 2014. High market share of leading companies is characterized by their vast product portfolio, wide distribution network, and R&D investments. United Company RUSAL Plc. dominated the market in 2014, in terms of market penetration, R&D activities, and capital investment.
Asia-Pacific: Regional Analysis
China accounted for the highest market share in the Asia-Pacific aluminium market in 2015 owing to massive urbanization and industrial development. The transport and building & construction industries jointly accounted for more than 50% of the overall aluminium usage in China. New product developments, capacity expansions, and acquisitions are the key strategies used by the Chinese manufacturers to increase their market share. China’s national environmental program to reduce CO2 emissions and increase in industrial energy efficiency led to shutdown of multiple aluminium smelters, which declined the aluminium production in China. Under the new rules, energy consumption for upgraded and new aluminium smelters should be below 13,200 kwh for ingots and 12,750 kwh per ton for liquid form. Product innovation and capacity expansions are the key strategies used by Korean manufacturers to increase their market share.
South Korea Aluminium Market, 2014-2022
Key leading players operating in this market include Alcoa Corporation, Aluminium Corporation of China Limited (CHALCO), China Hongqiao Group Ltd., China Power Investment Corp. (CPI), 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.
Other key market players in the value chain include Aluminium Bahrain B.S.C, 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 Aluminium Company, Kaiser Aluminium Corporation, National Aluminium Company Limited, Orkla ASA, Rexam plc, Shandong Nanshan Aluminium Co., Ltd., South32 Limited, State Power Investment Corporation, Talco Aluminium Company, Vale SA, and Vedanta Resources Plc.
- This report provides a quantitative and qualitative analysis of the current market trends and estimations from 2014 to 2022, which assists to identify the prevailing market opportunities in different application segments.
- Market trends of major countries in each region are mapped according to projected market revenue.
- Top investment pockets highlight the opportunity in the most lucrative application segment.
- Focused study of the factors that drive and restrict the growth of aluminium market is provided.
- An in-depth analysis of different regulations within the market is provided.
- Key manufactures of aluminium products are profiled and their recent developments are listed.
Aluminium Market Key Segments
By End User Industry
- Building & Construction
- Electrical Engineering
- Consumer Goods
- Foil & Packaging
- Machinery & Equipment
- Others (Solar Panel Nanotechnology and Aluminium Air Batteries)
By Processing Method
- Flat Rolled
- Pigments & Powder
- Rod & Bar
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA