Aluminum Market - Overview
The global aluminum market has been segmented based on product form, manufacturing process, and application. Based on product form, long products dominated the market with more than 40% share in 2017. In terms of manufacturing process, the extrusion segment held prominent share of the market in 2017. However, the casting segment is anticipated to expand at a higher CAGR compared to other manufacturing processes during the forecast period. Based on application, aluminum is widely used in segments such as building & construction, automotive, and electrical & electronics. However, global demand for aluminum varies across different regions according to different applications.
Aluminum and aluminum alloys are extensively employed in end-user industries such as automotive, aerospace, construction, packaging, and electrical & electronics. Increase in consumption of aluminum in the transportation sector can be ascribed to the rise in demand for fuel-efficient and lightweight vehicles in the automobile sector and increase in demand for lightweight and high-strength materials in the aerospace sector. Similarly, expansion in the construction sector is driving the demand for aluminum for usage in structural components such as window frames, roofing wall cladding, and concrete beams.
Implementation of stringent greenhouse gases (GHG) & carbon emission norms, rise in focus on usage of hard but lightweight aluminum alloys for manufacturing vehicle durable components, and low toxic emission are factors driving the demand for aluminum. Transportation is one of the major industries driving the global economy. Rapid industrialization and increase in need for superior means of commuting have propelled the industry over the last decade. Furthermore, growth in trade between developed and developing economies has boosted the transportation industry (including automotive and aviation). Rise in demand for aluminum in these industries is a major factor driving the aluminum market.
Aluminum is an important substitute for various materials such as steel and iron, primarily due to its lower self-weight and high strength properties. Prices of aluminum fluctuate primarily due to its application in several end-user industries and demand for different grades based on the end-use specifications. Factors affecting end-user industries indirectly hamper the demand for aluminum as well, particularly leading to fluctuations in its prices. However, growth in the usage of aluminum alloys in several industries is ascribed to the different properties instilled in pure aluminum by alloying elements.
Key players in the aluminum market are expected to benefit from the formation of strategic alliances with global players. Prominent players operating in the aluminum market include Alcoa Corporation, Aluminum Corporation of China Limited (CHALCO), Norsk Hydro ASA, RUSAL, Emirates Global Aluminium PJSC, and RioTinto.
The report analyzes and forecasts the market for aluminum at the global and regional level. The market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2018 to 2026. The study includes drivers and restraints of the global aluminum market. It also covers the impact of these drivers and restraints on demand for aluminum during the forecast period. The report also highlights opportunities in the aluminum market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global aluminum market. The Porter’s Five Forces model for the aluminum market has also been included to help understand the competitive landscape. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.
The study provides a decisive view of the global aluminum market by segmenting it in terms of product form, manufacturing process, application, and region. These segments have been analyzed based on the present and future trends. Regional segmentation includes the current and forecast demand for aluminum in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers the demand for individual segments in all the regions.
The study includes profiles of major companies operating in the global aluminum market. Key players profiled in the global aluminum market include Alcoa Corporation, Aluminum Corporation of China Limited (CHALCO), Norsk Hydro ASA, UC Rusal, and China Hongqiao Group Limited. Market players have been profiled in terms of attributes such as company overview, business strategies, recent developments, financial details, product portfolio, plant/facility details, etc.
The report provides the actual market size for 2017, estimated market size of aluminum for 2018, and forecast for the next eight years. The global size of the aluminum market has been provided in terms of volume and revenue. Market numbers have been estimated based on product form, manufacturing process, application, and region. Market size and forecast for each segment have been provided in terms of global and regional markets.
Aluminum Market, by Product Form
Aluminum Market, by Manufacturing Process
Aluminum Market, by Application
Aluminum Market, by Region
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