The aluminium industry Research analysis presents estimations of growth, size, and projections for each industry segment, accompanied by trends and forecasts based on revenue (in USD million). This report encompasses historical, current, and prospective analyses and appraisals for the Aluminium industry.
The global aluminium industry size was valued at USD 229.85 billion in 2023 and is projected to grow from USD 243.89 billion in 2024 to USD 393.70 billion by 2032, exhibiting a CAGR of 6.2% during the forecast period.
The global aluminium industry is projected to experience significant growth, fueled by its crucial role in various sectors including aerospace, automotive, construction, and electrical applications. The unique blend of lightweight and exceptional strength of aluminium has revolutionized these sectors, where weight reduction equates to efficiency. The industry growth is further bolstered by the rising demand for aluminium from electric vehicles and OEMs. The growing popularity of cost-effective and environmentally friendly secondary aluminium products is also contributing to industry growth. However, the introduction of stricter environmental regulations may pose a challenge to industry growth. The industry is categorized based on product, alloy type, and end-use, with cast products and wrought alloy leading their respective segments. The transportation segment commands the largest industry share due to the increasing adoption of aluminium in the automotive industry. Industry Reports provide statistics for the Aluminium industry share, size, and revenue growth rate, including a industry forecast outlook and a historical overview.
Industry Scope of the Report:
The industry estimates presented in the report result from a comprehensive research approach involving various research channels such as primary research, secondary research, and subject-matter expert consultations. These industry estimates consider the influence of existing industry dynamics and a range of economic, social, and political factors on the Aluminium industry. Additionally, the industry data is shaped by regulations, government expenditures, and advancements in research and development. Both positive and negative industry changes are factored into these estimations.
Global infrastructure development is heavily reliant on government spending. This implies that investment will depend on the government's ability to fund spending. Long-term stable and index-linked infrastructure returns, on the other hand, are generally well matched to the needs of large superannuation funds. According to Global Construction industry Survey, the growth in the APAC region is subjected to various government policies. For instance, China in 2021 focused on mortgage lending, approvals for home sales and property loans, as well as restrictions on using proceeds from pre-sales, also been eased to ensure that there is enough liquidity to maintain steady growth in the construction industry. Similarly, the Ministry of Road Transport and Highways of India (MoRTH) announced an investment worth $92.4 billion for infrastructure projects to be spent in the upcoming years. Furthermore, The Asian Development Bank (ADB) approved a USD 250 million loan in November 2021 to support the development of the National Industrial Corridor Development Programme (NICDP), which is part of a USD 500 million loan to construct 11 industrial corridors spanning 17 states. Also, the Indian Government and the Dubai Government have inked an agreement to construct industrial parks, IT towers, logistics centers, medical colleges, multipurpose towers, and a specialized hospital in various parts of the country.
industry Segmentation:
The study offers detailed segmentation of the global Aluminium industry based on Type, End User, and region. The report provides in-depth discussions of these segments and their sub-divisions, supported by tables and figures. industry players and investors can strategize their approaches based on the high-revenue and rapidly growing segments highlighted in the report.
Aluminum has high structural strength, lightweight, good conductivity, high flexibility, and non-magnetic properties. It has versatile applications in the power sector, such as cables, busbars, overhead transmission lines, motors, foil windings, electrolytic capacitors, heating elements, heat sinks, and many more. Weight is critical for high-voltage power lines that transport power over long distances. Aluminum wires have a 1.5 times larger cross-section than copper wires and are two times lighter. Lightweight aluminum wires reduce the load onto grid pylons and increase the distance of spans between them, thus reducing expenses and shortening construction time. The various types of wires used for high-voltage powerlines are Aluminum Conductor Steel Reinforced (ACSR), Aluminum Alloy Conductor (AAAC), and Aluminum Conductor Composite Core (ACCC).
These wires are preferably used in upcoming power sector projects and replace existing copper conductors worldwide. Various companies prefer using aluminum wires when constructing new power lines, particularly low-voltage lines. For instance, the National Electric Code (USA) requires the use of aluminum wiring in the construction of new powerlines. Similarly, in September 2015, China implemented new standards for the use of low-voltage aluminum.
Research Approach:
The report incorporates primary information collected directly from key stakeholders through quantitative and qualitative analyses utilizing the Porter Five Force model’s parameters. The report emphasizes macroeconomic indicators, trends within the parent industry, and growth drivers. A comprehensive understanding of the industry is achieved through both primary and secondary research. Rigorous checks were performed on the data used in the report to ensure its authenticity and quality. The credibility of evaluations and industry segments is established using both bottom-up and top-down methodologies.
Key Inquiries Addressed in the Aluminium industry:
- What is the global industry size for the Aluminium industry?
- Which screen size is most preferred by Aluminium consumers?
- What distribution channel is preferred by Aluminium manufacturers?
- Which age group is the target for Aluminium manufacturers?
- What factors drive or hinder industry growth, and how do these factors impact the industry?
- How do regulations affect the growth of the Aluminium industry?
- Which region or country leads in industry growth?
- How will emerging Aluminium industrys perform in the coming years, and how will consumption patterns evolve?
- Who are the major players in the global Aluminium industry? What is their current industry position? Who are the emerging players in this industry?
