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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Aluminium Market Growth
The emphasis on sustainability within the aluminium sector has significantly enhanced the value of recycling aluminium, aiding the growth of the aluminium market. This shift is largely because recycling aluminium consumes only 5% of the energy required to produce aluminium from raw materials, such as bauxite. Moreover, by incorporating more recycled aluminium into production processes, the aluminium market can significantly reduce its reliance on virgin aluminium, which requires energy-intensive mining and refining processes. Enhancing the efficiency and effectiveness of the aluminium recycling process is crucial for accelerating the sector's transition towards sustainability.
The Every Can Counts campaign, initiated by Emirates Global Aluminium in partnership with beverage can manufacturers Crown and CANPACK, in February 2024, is a strategic effort designed to encourage consumer participation in recycling aluminium beverage cans. This initiative is part of a broader movement towards sustainability and the promotion of a circular economy, where resources are reused and recycled to minimise waste and reduce environmental impact.
Aluminium Market Report Snapshots
Aluminium Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The aluminium market is projected to grow at a CAGR of 5.65% between 2024 and 2032.
The major drivers of the aluminium market are increasing environmental concerns, increased application of the product in making aluminium sheets, consumption of aluminium in the manufacturing of aircraft, rising use of the material in the electrical engineering as well as machinery and equipment industries, rising technological advancement, growing construction industry, and rising population.
The key trends propelling the aluminium market growth includes the growing transportation industry and increasing downstream industries.
The major regions in the aluminium market are North America, Latin America, Europe, Middle East and Africa, and Asia Pacific with Asia Pacific accounting for the largest share of the market.
Primary and secondary are the types of aluminium in the aluminium market.
The various end uses of aluminium in the market are transport, construction, electrical, machinery and equipment, packaging and foil, and consumer goods, among others.
The major players in the market are RusAL, Chalco Aluminum Co. Ltd, Rio Tinto plc, China Hongqiao Group Co., Ltd., Alcoa Corporation, Emirates Global Aluminium PJSC, Shandong Xinfa Aluminum Co., Ltd., Norsk Hydro ASA, Vedanta Limited, and Hindalco Industries Limited, among others.
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