Australia Aluminium Market Report and Forecast 2024-2032

Australia Aluminium Market Size

The Australia aluminium market reached around USD 6.91 billion in 2023. The market is projected to grow at a CAGR of 4.7% between 2024 and 2032, reaching almost USD 10.45 billion by 2032.

Australia Aluminium Market Outlook

• Australia is one of the leading countries specialising in aluminium refining.

• In 2022, Australia produced 22.3MT of alumina, making it the second-largest producer in the world.

• In 2022, Australia produced 1.51MT of primary aluminium, which made it the sixth largest producer worldwide.

Australia Aluminium Market Growth

In December 2023, along the lines of other countries located in North America and Europe, Australia recognised aluminium as a strategic material, which is imperative for driving a clean energy transition. This is because aluminium powers numerous low-carbon technologies like hydroelectric plants, wind turbines, transmission wires, and batteries, among others. It also constitutes 85% of the total components of solar panels. As rooftop solar energy outpaces wind energy in Australia for electricity generation, the demand for aluminium is expected to register a significant growth in the coming years.

Globally, aluminium production accounts for nearly 3% of the total industrial carbon emissions. Though the average intensity of emissions has been declining by 2% annually, it needs to further fall to 4% annually. Major aluminium producers and recycling firms in Australia have signed contracts with wind energy-based electricity-generating companies to power up their processes. For instance, in February 2024, Rio Tinto signed a power purchase agreement with Windlab to supply clean electricity to refineries and smelting plants located in Gladstone, Queensland. This can reduce 5 million tons of carbon emissions annually and generate enough power to meet 10% of Queensland’s energy needs.

Australia Aluminium Industry Segmentation

Australia Aluminium Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Primary

• Secondary

Market Breakup by Processing Method

• Flat Rolled

• Extrusions

• Castings

• Forgings

• Pigments and Powder

• Rod and Bar

• Sheet

• Others

Market Breakup by End Use

• Transport

• Construction

• Electrical

• Machinery and Equipment

• Others

Market Breakup by Region

• New South Wales

• Victoria

• Queensland

• Australian Capital Territory

• Western Australia

• Others

Australia Aluminium Market Share

Based on end use, the market is divided into transport, construction, electrical, and machine and machinery, among others. Over the forecast period, the transport sector is projected to grow at a CAGR of 5.4% during the forecast period of 2024-2032. This can be attributed to the low strength-to-weight ratio of aluminium, which makes it ideal for use in automobiles and other mobility solutions.

Leading Companies in the Australia Aluminium Market

Key players are investing to expand their production capacity amid the rising demand for aluminium in renewable energy sources.

• Aluminium Industries of Australia Pty Ltd.

• Tomago Aluminium

• Rio Tinto plc (Queensland Alumina Limited)

• Gra Steel Company

• Rogers Industries Group

• Others

Key Highlights of the Report