It is anticipated that the global Aluminium market size would progress at a CAGR of 4% during the period of 2022-2027. The Aluminium market produced a volume of around 65.52 MMT in 2021 and is expected to attain a volume of 73.22 MMT in 2027.
The demand for aluminium from the processing industries is substantially pushing the progress of the market. For instance, the fast development of the transportation industry is stimulating the global aluminium market demand.
In August 2022, Hydro made its most recent investment of NOK 500 million in reprocessing of aluminium at its Cressona, Pennsylvania, extrusion plant that will move them nearer towards their aim. This investment was an important part of Hydro’s strategy to create a sustainable future by efficiently recycling scrap from the pre and post usage of aluminium.
Furthermore, the investment would help the facility to raise its reprocessing competencies, together with re-melting and generating low-carbon comprising aluminium commodities by using extrusion barracks moulding. The venture is expected to increase the casting capability of Cressona by exceeding 50,000 tonnes and will be entirely functional towards the end of 2024.
In addition, to this project would also support the plant to lessen the regular carbon footmark by 5% of its extrusion barrack that will in turn support Hydro’s complete sustainability goals along with considerably increasing the aluminium scrap utilisation by consumers.
In July 2022, Saint-Gobain acquired Kaycan LTD., a construction, and aluminium extrusions supplier based in Canada by investing USD 928 million. Such an investment and procurement will help Saint-Gobain to launch itself not only as a worldwide provider of light and sustainable materials for construction as well as this would increase the organisation’s proficiency in the arena of concocted wood and aluminium side-track construction.
In July 2022, the India based international corporation firm with its business welfares in engineering and construction, Larsen & Toubro, said that a 12-storey housing tower with 96 apartments was established by the firm in only 96 days by using its pre moulded wide-ranging concrete panel method for extremely fast construction of residences for the public.
This methodology is called Aluminium formwork construction procedure that creates the cast-in-place concrete construction of the building. Aluminium Formwork construction technique it is easy and fast to establish, accurate, and robust.
Along with this the typical cost of utilising aluminium formwork is less as it can be put to usage and reprocessed repetitively. Such innovative methodologies are driving the Aluminium market demand.
In July 2022, a partnership agreement was signed between Talgo and Bharat Forge’s subsidiary BF Infrastructure to construct high velocity aluminium trains in India. With the building of high-speed rail expertise and resolutions from the partnership, the Indian Railways and other privatised organisations will get an opportunity to fulfil the aim of being self-reliant.
According to Bharat Forge, this project with also help them concentrate on establishing production, upkeep, and wheel of life assistance center for the upcoming generation, competent on energy level, high speed, and lightweight aluminium railway trains. This declaration was made during the time when the government aims towards announcing more electromagnetic interference (EMI) high velocity trains.
In July 2022, Glass Bonra, a company that makes and supplies accessories of car for Tesla, announced the disclosure of its unexpected and out of the ordinary Aluminium Tesla Model 3 Boot Hook.
The superior quality hooks made of aluminium provides a strong grip to the products as compared to the other low-priced substitutes such as plastic or 3D printed hooks made accessible by various sellers. By hanging the Aluminium Tesla Model 3 Boot Hook from a concealed screw in the wader of a Tesla Model 3 Vehicle, it can be utilised to dangle delicate packets.
In May 2022, Novelis Inc. announced that it is aiming to construct a USD 2.5 billion plant for recycling and rolling of aluminium with less carbon based in the US to fulfil the increasing demand for aluminium sheets used for manufacturing beverage cans as well as in the automotive market.
Hindalco Industries Ltd. stated that this plant will have the capability to produce 600,000 tonnes of manufactured products annually in the initial years. Moreover, the new plant will raise the reprocessing or recycling capability of Novelis to 90 billion cans around the globe, as compared to the 74 billion at present.
Aluminium is a lightweight and a white, silvery metal in appearance belonging to the Group 13 in the intermittent table. One of the positive factors about aluminium is that it is massively prevalent and next to oxygen and silicon it is the most commonly used chemical component on Earth.
Decarbonisation Regulations and the Alteration to Sustainability, Transportation Sector Shifting to Electronic Vehicles, Usage of Renewable Energies and Augmentation of Power Grid in the Electrical Industry, and Aluminium Usage in the Packaging Industry as a Critical Manufacturing Material.
Several governments across the globe are introducing policies and strategies on decarbonisation to reduce the carbon footprints that is negatively impacting the environment.
Hence, approaches such as implementation of electric vehicles (EVs) and renewable energies, along with this the adoption of sustainable resolutions in the Construction and Packaging industries are signifying substantial aluminium market opportunities globally.
There is an anticipation that the transportation industry might witness a comprehensive movement towards electronic vehicles in the upcoming years, that will propel the aluminium market development.
The electrical industry is expected to be one of the main factors for the aluminium market growth as it is determined by the progress of the renewable energies and the augmentation of the power network.
Aluminium has a superior position in the packaging industry owing to its great recyclability properties, that aid to the insight of aluminium to be an extremely ecologically responsive material. The aluminium sector requires to work in partnership with large brands that support the usage of sustainable products and are directly linked with the ultimate customers like, Nespresso and Walmart.
Climate Change and Environmental Issues, Negative Effect of COVID-19 on World Aluminium Industry, Decline in the Construction Work, and Certain Technologies May Interrupt the Business in Aluminium Industry to Create Challenges for the Aluminium Market.
According to the market experts, even though the estimated growth of the aluminium market looks healthy, the metal’s status to build the green economy might be hampered based on the aluminium industry’s need to safeguard low carbon power that itself needs to utilise low-carbon aluminium, together with other metals.
In addition, the increasing ecological concerns, and the constant rise in the potentials from the citizens to improve the growing pollution status has forced various governments and bureaus to integrate several rigorous environmental regulations that will impact the aluminium market adversely.
The outburst of COVID-19 virus in Wuhan (China) that hold 4.5% of the total aluminium production of China, has gravely affected both domestic and worldwide economy. China that has been a worldwide center of production and supply of raw materials, is impacted by COVID-19.
The economic depression will negatively impact the aluminium market as the metal is considered to be the foremost sign for development. The widespread variation and high-pitched decline in the aluminium market price trends before and after the upsurge of COVID-19 has led to a 60 percent of the smelters to experience loss of cash, globally.
There has been a flowing affect on manufacturing productivities of aluminium billets which is an essential feedstock to create extrusion, owing to the COVID-19 outbreak. This was owing to the stoppage of operations in the downstream market.
As a result of the lockdown and the standstill of bauxite mining, there has been a severe shortage of feedstock creating morbid swing in alumina and metal market. The demands from customer end also decreased immensely because of the several instabilities.
As per the aluminium market report the industry is segmented based on application (Transportation, Construction, Packaging, Electrical, Machinery & Equipment, and Consumer Durables) and regions (North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa).
The wide-ranging Procurement Resource report provides a detailed market valuation and a SWOT analysis. The report gives a thorough study of the subsequent Aluminium market key players and covers their competitive landscape and newest progresses like unions, attainments, investments as well as development plans.
The transportation division held around 32 percent of the international aluminium market share in 2021 in comparison to other end-user industries. This is primarily due to the increase in the people driving the motorised vehicles, globally, hence progress in the worldwide transport market is also anticipated to boost the aluminium sector.
Based on region, Asia Pacific is forecasted to be the rapidly developing market, due to the aspects like fast and massive level of industrialisation and urbanisation, growth in the investment, and construction and infrastructure projects as well as augmentation of the automotive sector.
China leads the world aluminium market as it is responsible for almost half of the worldwide manufacturing and consumption of aluminium. Additionally, aluminium in China is mostly consumed by transportation, electrical, machinery and equipment, construction, packaging, consumer durables among other end-user industries.
Besides, China bought around 158,000 tonnes of key aluminium in June 2021, getting half-year calculation to 744,000 tonnes. For an extended period, China is projected to persist as the largest semis-consuming nation by a great edge and would continue to hold nearly 50 percent of the worldwide demand.
United Company RUSAL: United Company RUSAL is the top worldwide manufacturer of low-carbon aluminium. By adopting new, innovative, and energy-conserving technologies, the company is able to decrease greenhouse gas discharges at every stage of the production.
Moreover, the company produces more than 90 percent of aluminium from renewable electricity. United Company RUSAL’s important sales markets are Russia, Europe, North America, the CIS nations, Japan, South-East Asia, and South Korea and primary end-user sectors are construction, power, transport, and packaging sectors.
Aluminium Corporation of China Ltd: A China based organisation, Aluminium Corporation of China Ltd, is the second biggest manufacturer of alumina and third major aluminium producer in the world. The company is involved in the mining of aluminium oxide, electrolysis of pure aluminium and the dispensation and manufacturing of aluminium.
China Hongqiao Group Co., Ltd: China Hongqiao Group Co., Ltd. is the major aluminium manufacturer in the world that covers the complete aluminium sector chain. The company has expertise in mining, thermoelectric, and manufacturing products made of aluminium, while maintaining sustainability and welfare of the society as its key goals.
Xingfa Aluminium Holdings Ltd: Xingfa Aluminium Holdings Ltd. is a producer of industrial and architectural aluminium outlines and contours.
The organisation functions through its two divisions – industrial aluminium profile that is involved in the production and sales of plain aluminium contours and construction aluminium profiles that affiliated to production and sales of aluminium outlines with surface finishing such as electrophoresis coating aluminium profiles and anodic oxidation aluminium profiles.
Vedanta Limited: Vedanta’s Aluminium and Power Business is the leading manufacturer of ‘green metal’ aluminium in India. The company produces over half of aluminium in India which totalled up to 1.9 million per annum (MTPA) in 2020 and commands over 40 percent of the overall aluminium market in India. Also, their modernised and niche products are leading the global market in their individual segments.
1. Executive Summary
2. Global Aluminum Market Snapshot
2.1. Aluminum Market Outlook
2.2. Aluminum Industry Analysis by Application
2.2.5. Machinery & Equipment
2.2.6. Consumer Durables
2.3. Regional Overview
2.3.1. North America
2.3.3. Asia Pacific
2.3.4. Latin America
3. Impact of Recent Events
4. Aluminum Value Chain Analysis
5. Aluminum Production Process
6. Trade Analysis
7. Major Risk Factors in Sourcing
8. Aluminum Cost Structure
9. Aluminum Price Analysis
10. Key Demand Indicator Analysis
11. Key Price Indicator Analysis
12. Aluminum Market Dynamics
12.1. Drivers & Constraints
12.2. Industry Events
12.3. Innovations & Trends
12.4. SWOT Analysis
12.5. Porter’s Five Forces
12.5.1. Buyer Power
12.5.2. Supplier Power
12.5.3. Threat of New entrants
12.5.4. Threat of Substitutes
12.5.5. Industry Rivalry
13. Feedstock Market Analysis
13.1. Market Overview
13.2. Price Analysis
14. Industry Best Practices
14.1. Sourcing Strategy
14.2. Procurement Model
14.3. Contract Structure
14.4. Negotiation Levers
14.5. Pricing Model
14.6. Key Factors Influencing the Quotation
15. Key Supplier Analysis
15.1. United Company RUSAL
15.2. Aluminum Corporation of China Ltd
15.3. China Hongqiao Group Co., Ltd
15.4. Xingfa Aluminium Holdings Ltd
15.5. Vedanta Limited
The aluminium market is projected to develop at a CAGR of 4% between 2022-2027.
Industrialisation, urbanisation, and technical or mechanical progression are some of the leading factors that are boosting the growth of the market.
The transportation division accounted for around 32 percent of the worldwide aluminium market share in 2021 in comparison to other end-user industries.
The primary regions in the global aluminium market are North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
China leads the aluminium market as it is responsible for almost half of the worldwide manufacturing and consumption of aluminium.
The key players in the global market are United Company RUSAL, Aluminum Corporation of China Ltd, China Hongqiao Group Co., Ltd, Xingfa Aluminium Holdings Ltd., and Vedanta Limited.
The global aluminium market attained a value of 65.52 MMT in 2021, driven by the rising prevalence of construction activities. The global aluminium market is being propelled forward by the development of the transportation industry, technological advancements in aluminium manufacturing technologies and processing equipment, and an increase in the use of aluminium in various sectors such as building & construction and foil & packaging. Other market expansion factors include population increase, fast industrial development, rising middle-class wages, and urbanisation. They were aided by the rising demand for aluminium-based vehicle components that can endure corrosion and high heat while being cost-effective; the market is expected to witness further growth in the forecast period of 2022-2027, growing at a CAGR of 4.0%. The market is projected to reach 73.22 MMT by 2027.
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