Global Primary Aluminium Market Size By Product Types, By Applications, By End-Users, By Geographic Scope And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
View Details Download Sample Ask for Discount Request CustomizationGlobal Primary Aluminium Market Size By Product Types, By Applications, By End-Users, By Geographic Scope And Forecast
Primary Aluminium Market Size And Forecast
The global Primary Aluminium Market size was valued at USD 206.95 Billion in 2024 and is projected to reach USD 315.21 Billion by 2031, growing at a CAGR of 5.40% during the forecast period 2024-2031.
Global Primary Aluminium Market Drivers
Numerous market drivers have an impact on the primary aluminium market, which deals with the production and distribution of primary or virgin aluminium. These forces affect the market’s general dynamics as well as supply and demand. The following are a few of the major factors driving the primary aluminium market
- Growth in the Automotive Sector Aluminium is used extensively in the automotive sector to reduce vehicle weight and increase fuel efficiency. Primary aluminium is in greater demand as the automobile sector grows and prioritises lighter materials.
- Growing Need in the Aerospace Sector Aluminum’s high strength and low weight make it a vital component of the aerospace sector. The need for primary aluminium in aircraft and aerospace applications rises in tandem with increases in defence spending and international air traffic.
- Building and Infrastructure Development Windows, doors, facades, and structural elements are among the applications for aluminium in the building and infrastructure industries. Growing construction projects fuel demand for primary aluminium, especially in emerging nations.
- Electrical Transmission and Distribution Because aluminium is lightweight and conductive, it is a favoured material for electrical conductors in power transmission and distribution. Infrastructure for power is in greater demand, which drives the market.
- Consumer Electronics and Packaging Because aluminium is lightweight, strong, and resistant to corrosion, it is mostly utilised in consumer electronics casings and packaging materials. Market expansion is fueled by aluminum’s growing use in electronics and packaging applications.
- Green technologies and renewable energy Aluminium is used in the production of solar frames and wind turbine parts, among other components used in the wind and solar power generation industry. The primary aluminium market is boosted by the move towards green technology and renewable energy sources.
- Urbanisation and Industrialization As developing nations rapidly become more urbanised and industrialised, there is a greater need for aluminium in a variety of uses, such as consumer products, building, and transportation.
- Environmental Concerns Because aluminium can be recycled, it is regarded as an environmentally beneficial material. The usage of primary aluminium is driven by sustainability initiatives and environmental laws in eco-conscious sectors.
- Commerce and Export Opportunities Regional differences in supply and demand have an impact on the global commerce of primary aluminium. Market dynamics are created by export and import opportunities.
- Technological developments The total efficiency of primary aluminium production is increased by ongoing technological developments in the processes used to produce aluminium, such as the reduction of energy consumption and emissions.
Global Primary Aluminium Market Restraints
The main aluminium market is subject to a number of market constraints that may have an effect on its stability and growth. Industry-specific, environmental, and economic issues can all have an impact on these limitations. The following are a few of the main market barriers affecting the primary aluminium market
- Energy Costs The main method of producing aluminium requires a lot of energy, and one major source of expense is the use of electricity. The profitability of producing aluminium can be impacted by fluctuations in energy prices, particularly in areas where energy costs are high.
- Price volatility of raw materials Bauxite is the main raw material used in the manufacturing of aluminium. The total cost of producing primary aluminium can be affected by changes in the prices of bauxite and alumina.
- Environmental rules Primary aluminium smelters may incur higher compliance costs as a result of strict environmental rules pertaining to emissions, waste management, and resource exploitation.
- Supply Chain Vulnerabilities The availability of bauxite and other essential resources required for the manufacturing of aluminium can be impacted by supply chain interruptions, which can be caused by geopolitical circumstances or transportation problems.
- Overcapacity There may be times when there is too much supply of aluminium on the market, which puts pressure on prices. Slowed demand growth or production facility development might lead to excess capacity.
- Recycling Competition In a variety of applications, the availability of recycled aluminium faces competition from primary aluminium manufacturing. The demand for primary aluminium may decline as aluminium recycling increases.
- Commerce Policies and Tariffs Trade policies and tariffs may have an effect on the international commerce of primary aluminium by raising prices or restricting access to specific markets.
- Recessions in the Economy Global economic instability or recessions can lower demand for aluminium across a range of industries, including manufacturing, construction, and the automobile industry.
- Currency Exchange RatesVariations in exchange rates can have an impact on the pricing of aluminium products as well as the competitiveness of primary aluminium on the global market.
- Industry Consolidation Less competition but maybe less affordable prices for customers may result from industry consolidation in the aluminium sector.
Global Primary Aluminium Market Segmentation Analysis
The Global Primary Aluminium Market is segmented based on Product Types, Applications, By End-Users, and Geography.
Primary Aluminium Market, By Product Types
- Primary Ingot or BilletThe most common form of primary aluminum used as raw material for further processing in various industries.
- Primary AlloyAluminum alloy products produced from primary aluminum, such as aluminum sheets, plates, and extrusions.
Primary Aluminium Market, By Applications
- TransportationIncludes segments like automotive, aerospace, and marine applications where aluminum is used for lightweighting and fuel efficiency.
- ConstructionInvolves the use of aluminum in building components, architectural structures, windows, doors, and facades.
- PackagingAluminum is used for various packaging applications, such as beverage cans, food containers, and pharmaceutical packaging.
- Electrical and ElectronicsAluminum is used in electrical transmission lines, conductors, and electronic casings.
- Machinery and EquipmentAluminum is used in the production of machinery and equipment components.
- Consumer GoodsIncludes applications like cookware, utensils, and household products made from aluminum.
Primary Aluminium Market, By End-Users
- Automotive IndustryAluminum is used in the production of vehicle parts, including body panels, engine components, and structural elements.
- Aerospace and DefenseAluminum plays a significant role in aircraft construction and defense applications.
- Building and ConstructionAluminum is used in residential and commercial construction for windows, doors, roofing, and structural components.
- Packaging IndustryBeverage cans, food containers, and pharmaceutical packaging are prominent end-users of primary aluminum.
- Electrical UtilitiesAluminum is used in electrical transmission and distribution systems.
- Manufacturing SectorVarious industries within manufacturing use aluminum in the production of machinery and equipment.
- Consumer Goods ManufacturersCompanies in the consumer goods industry use aluminum to create products like cookware and kitchen utensils.
Primary Aluminium Market, By Geography
- North AmericaMarket conditions and demand in the United States, Canada, and Mexico.
- EuropeAnalysis of the Primary Aluminium Market in European countries.
- Asia-PacificFocusing on countries like China, India, Japan, South Korea, and others.
- Middle East and AfricaExamining market dynamics in the Middle East and African regions.
- Latin AmericaCovering market trends and developments in countries across Latin America.
Key Players
The major players in the global Primary Aluminium Market include
- China Hongqiao Group
- Aluminum Corporation of China (Chalco)
- Rio Tinto
- UC Rusal
- Alcoa Corporation
- Emirates Global Aluminium
- Norsk Hydro ASA
- BHP Billiton
- Shandong Weiqiao Aluminum & Power Co., Ltd.
- Shandong Xinfa Aluminum & Electricity Group Co., Ltd.
- Dubai Aluminium Company (Dubal)
- Century Aluminum Company
- Hindalco Industries Limited
- Vedanta Resources Limited
- Tohoku Metal Industries, Ltd.
- Sumitomo Chemical Company, Limited
- Nippon Light Metal Company, Limited
- Henan Zhongfu Industry Group Co., Ltd.
- China Power Investment Corporation
- China Minmetals Corporation
- State Grid Corporation of China
- China Southern Power Grid Company Limited
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | China Hongqiao Group, Aluminum Corporation of China (Chalco), Rio Tinto, UC Rusal, Alcoa Corporation, Emirates Global Aluminium, Norsk Hydro ASA, BHP Billiton, Shandong Weiqiao Aluminum & Power Co., Ltd. |
| SEGMENTS COVERED | By Product Types, By Applications, By End-Users, and By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Research Methodology of Market Research
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors• Provision of market value (USD Billion) data for each segment and sub-segment• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis• Provides insight into the market through Value Chain• Market dynamics scenario, along with growth opportunities of the market in the years to come• 6-month post-sales analyst support
Customization of the Report
• In case of any please connect with our sales team, who will ensure that your requirements are met.
Table of Content
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
List Tables Figures
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy