The processed alumina and aluminum market consists of sales of processed alumina and aluminum by entities (organizations, sole traders and partnerships) primarily engaged in alumina extraction primarily from bauxite ore, producing aluminum from alumina, recovering aluminum from scrap or dross, refining aluminum by any process, alloying purchased aluminum and rolling, drawing, casting, extruding and alloying aluminum and aluminum-based alloy into primary forms such as bar, foil, pipe, plate, rod, sheet, tube, wire. The processed alumina and aluminum market is segmented into aluminum products from purchased aluminum; secondary smelted and alloyed aluminum; and refined alumina and primary aluminum production.
The global processed alumina and aluminum market is expected to grow from $748.51 billion in 2020 to $804.12 billion in 2021 at a compound annual growth rate (CAGR) of 7.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1093.06 billion in 2025 at a CAGR of 8%.