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GLOBAL ALUMINUM MARKET: OVERVIEW

As per Roots Analysis, the global aluminum market size is estimated to grow from USD 199.7 billion in the current year to USD 374.1 billion by 2035, at a CAGR of 5.87% during the forecast period, till 2035.

Aluminum Market - IMG1

Driven by the increasing demand for aluminum from various end-use industries, a growing focus on sustainability and recyclability, and ongoing technological innovations, the aluminum market is anticipated to grow at a healthy pace during the forecast period.

The opportunity for aluminum market has been distributed across the following segments:

Type of Aluminum

Type of Alloy

Type of Series

Type of Product

Type of End User

Building & Construction

Consumer Goods

Electrical & Electronics

Machinery & Equipment

Packaging

Transportation

Others

Geographical Regions

ALUMINUM MARKET: GROWTH AND TRENDS

Aluminum is a lightweight metal characterized by its silvery-white appearance and is well-known for its outstanding properties, making it a highly valued material in various sectors. Primarily, aluminum is extracted from bauxite ore through the Bayer process to produce alumina, and then it is refined into aluminum metal using the Hall-Heroult method. The combination of high strength and low weight has significantly changed the automotive, transportation, and aerospace sectors.

Additionally, aluminum's benefits, such as its resistance to corrosion, excellent thermal and electrical conductivity, as well as its ductility and malleability, significantly drive the demand for this metal across various applications. Metal has also become a vital component in the food and beverage industry due to its non-toxic properties and recyclability, which are extensively utilized for beverage cans, foil, and packaging materials, thus reinforcing trends in aluminum packaging. Moreover, by harnessing advancements in technology, industry players are consistently searching for innovative ways to create advanced products that meet the evolving demands of technologies such as electric vehicles, renewable energy, and 3D printing.

ALUMINUM MARKET: KEY SEGMENTS

Market Share by Type of Aluminum

Based on the type of aluminum, the global aluminum market is segmented into primary aluminum and secondary aluminum. According to our estimates, currently, primary aluminum segment captures the majority share of the market and is projected to maintain this position, as the aluminum production sector expands, with aluminum being produced directly from bauxite ore for its alloys and products. However, secondary aluminum segment is anticipated to grow at a higher CAGR during the forecast period.

Market Share by Type of Alloy

Based on the type of alloy, the aluminum market is segmented into cast alloy and wrought alloy. According to our estimates, currently, wrought alloy segment captures the majority share of the market. The production of wrought alloys involves mechanical processes like forging, rolling, and extrusion, which enhance the ductility and strength of the alloy compared to cast alloys. Additionally, the extensive utilization of wrought alloys in industries such as aerospace, transportation, and automotive significantly boosts demand for the metal, contributing to market expansion. However, cast alloy segment is anticipated to grow at a higher CAGR during the forecast period.

Market Share by Type of Series

Based on the type of series, the aluminum market is segmented into series 1, series2, series 3, series 4, series 5, series 6, series 7, and series 8. According to our estimates, currently, series 1 segment captures the majority share of the market. The significant demand for series 1 in the electrical sector, attributed to its conductivity, has propelled the growth of this segment. Furthermore, the corrosion resistance of 1xx series aluminum alloys contributes to its widespread use in chemical processing equipment, further enhancing segment growth. However, series 6 segment is anticipated to grow at a higher CAGR during the forecast period.

Market Share by Type of Product

Based on the type of product, the aluminum market is segmented into billets, castings, extrusion, flat rolled, foils, forgings, ingots, pigments, and powder, rod and bar. According to our estimates, currently, extrusion segment captures the majority share of the market. This can be attributed the rising demand for aluminum products in specific shapes, which are created through the extrusion process involving the heating of aluminum. This method is predominantly utilized in construction for window and door frames, as well as in consumer goods like furniture, all of which play a significant role in driving the growth of this segment.

Market Share by Type of End User

Based on the type of end user, the aluminum market is segmented into building & construction, consumer goods, electrical & electronics, machinery & equipment, packaging, transportation, and others. According to our estimates, currently, transportation segment captures the majority share of the market. This can be attributed to the growing adoption of aluminum in the automotive industry due to its lightweight properties. However, building & construction segment is anticipated to grow at a higher CAGR during the forecast period.

Market Share by Geographical Regions

Based on the geographical regions, the Aluminum market is segmented into North America, Europe, Asia, Latin America, Middle East and North Africa, and Rest of the World. According to our estimates, currently, Asia captures the majority share of the market. This can be attributed to the highest levels of production and consumption within this region. However, market share in North America is anticipated to grow at a higher CAGR during the forecast period.

Example Players in Aluminum Market

ALUMINUM MARKET: RESEARCH COVERAGE

The report on the aluminum market features insights on various sections, including:

KEY QUESTIONS ANSWERED IN THIS REPORT

REASONS TO BUY THIS REPORT

ADDITIONAL BENEFITS

TABLE OF CONTENTS

1. PREFACE

2. RESEARCH METHODOLOGY

3. ECONOMIC AND OTHER PROJECT SPECIFIC CONSIDERATIONS

4. MACRO-ECONOMIC INDICATORS

5. EXECUTIVE SUMMARY

6. INTRODUCTION

7. COMPETITIVE LANDSCAPE

8. COMPANY PROFILES

9. VALUE CHAIN ANALYSIS

10. SWOT ANALYSIS

11. GLOBAL ALUMINUM MARKET

12. MARKET OPPORTUNITIES BASED ON TYPE OF ALUMINUM

13. MARKET OPPORTUNITIES BASED ON TYPE OF ALLOY

14. MARKET OPPORTUNITIES BASED ON TYPE OF SERIES

15. MARKET OPPORTUNITIES BASED ON PRODUCT

16. MARKET OPPORTUNITIES BASED ON TYPE OF END USE

17. MARKET OPPORTUNITIES ALUMINUM IN NORTH AMERICA

18. MARKET OPPORTUNITIES FOR ALUMINUM IN EUROPE

19. MARKET OPPORTUNITIES FOR ALUMINUM IN ASIA

20. MARKET OPPORTUNITIES FOR ALUMINUM IN MIDDLE EAST AND NORTH AFRICA (MENA)

21. MARKET OPPORTUNITIES FOR ALUMINUM IN LATIN AMERICA

22. MARKET OPPORTUNITIES FOR ALUMINUM IN REST OF THE WORLD

23. TABULATED DATA

24. LIST OF COMPANIES AND ORGANIZATIONS

25. CUSTOMIZATION OPPORTUNITIES

26. ROOTS SUBSCRIPTION SERVICES

27. AUTHOR DETAIL

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