South Korea Aluminium Market Report and Forecast 2025-2034

South Korea Aluminium Market Size

The South Korea aluminium market reached approximately USD 10.49 billion in 2024. The market is projected to grow at a CAGR of 7.50% between 2025 and 2034, reaching a value of around USD 20.24 billion by 2034.

South Korea Aluminium Market Outlook

• As per the industry reports in 2024, South Korea gained an acquisition of 3,000 tonnes of high-grade primary aluminium ingots from Malaysia.

• Gwangyang, a South Korean port, has established itself as the new hub for the storage of London Metal Exchange (LME) aluminium.

• Novelis Inc. announced in February 2022 that it aims to build a recycling and casting centre in South Korea for the expansion of its low-carbon aluminium.

South Korea Aluminium Market Growth

Growing demand for aluminium from the automotive and construction sectors is one of the major factors boosting the market growth. Due to its superior strength-to-weight ratio, aluminium offers great fuel efficiency to vehicles as less force is required to run the vehicle. It is also widely used in aeroplanes and space shuttles due to its superior strength, lightweight and increased flexibility. Moreover, the high thermal efficiency of aluminium makes it a preferable option for keeping buildings warm in winter and cool in summer and its ability to be welded into any desired shape further gives it preference over steel or wood for the construction of innovative buildings.

Several market players are establishing partnerships to transition towards a green economy in the aluminium sector. For instance, TAHA International announced that it has signed an agreement with Hwarim Tech in South Korea for the extraction and treatment of aluminium metal in an eco-friendly and energy-efficient manner which can foster sustainability in the aluminium sector.

South Korea Aluminium Industry Segmentation

“South Korea Aluminium Market Report and Forecast 2025-2034” 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 Products

• Castings

• Extrusions

• Forgings

• Pigments and Powder

• Rod and Bars

Market Breakup by End Use

• Automotive

• Aerospace and Defence

• Building and Construction   

• Electrical and Electronics   

• Packaging   

• Industrial   

• Others

South Korea Aluminium Market Share

The growing applications of aluminium in the electronics and electrical sector aid the market development. In the electrical sector, it is heavily utilised for long-distance power lines due to its low density as well as corrosion-resistant nature which protects the wire. Meanwhile, it is witnessing robust growth in the consumer electronics sector as it offers high durability and quick heat dissipation, which prevents the devices from overheating. For example, the tech giant Apple is primarily using aluminium in its iPhone and Macbooks due to its favourable properties.

Leading Companies in South Korea Aluminium Market

The market players are establishing partnerships for the development of sustainable aluminium amid rising environmental concerns.

• Yoosung Aluminium Co., Ltd.

• Dong-Il Aluminium Co.,Ltd,

• Ulsan Aluminum, Ltd. 

• Norsk Hydro ASA 

• Aluko Co.,Ltd. 

• Others

Key Highlights of the Report