What Fueled The Previous Growth In The Processed Alumina And Aluminum Market?
The processed alumina and aluminum market has seen considerable growth due to a variety of factors.
• The market size for processed alumina and aluminum has been witnessing robust growth in the past few years. The market is expected to expand from $963.95 billion in 2024 to $1026.65 billion in 2025, with a compound annual growth rate (CAGR) of 6.5%.
The growth observed in the historical period is a result of global economic trends, variations in the prices of raw materials, technological progress, and end-user industries.
How Does the Forecast Look for the Processed Alumina And Aluminum Market?
The processed alumina and aluminum market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of processed alumina and aluminum is anticipated to experience consistent growth. By 2029, it is projected to reach $1245.21 billion, with a compound annual growth rate (CAGR) of 4.9%.
Various factors contributing to this expected growth in the forecast period include sustainability efforts, infrastructure advancement, electric vehicles (evs), and supply chain resilience. Some of the prominent trends during this forecast period are anticipated to be electrification and lightweighting, cutting-edge materials, additive manufacturing, as well as digitalization, connectivity, collaboration, and partnerships.
What Are The Leading Drivers Of Growth In The Processed Alumina And Aluminum Market?
The expansion of the alumina and aluminium industry is influenced by the surge in construction activities within emerging markets. The construction sector, comprising of commercial manufacturing and trade that focuses on building, preserving, and mending infrastructures, is a prominent user of aluminium products. This includes things like aluminium alloys, sheets, and extrusions that find applications in several construction elements such as windows, doors, roofing, exterior cladding and structural components. The escalating construction activities boost the requirement for aluminium in these areas. Growing markets that experienced intense construction activities consist of China, Brazil, India, Saudi Arabia, and Indonesia. For instance, the US Census Bureau, an agency operated by the US government, reported that the value of construction operations underwent an increase from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. This rapid surge in construction activities played a significant role in driving the growth of the alumina and aluminium production and processing market.
How Are The Segments Defined Within The Global Processed Alumina And Aluminum Market?
The processed alumina and aluminum market covered in this report is segmented –
1) By Type: Aluminum Products From Purchased Aluminum, Secondary Smelted and Alloyed Aluminum, Refined Alumina And Primary Aluminum Production
2) By Application: Automotive, Manufacturing, Other Applications
Subsegments:
1) By Aluminum Products From Purchased Aluminum: Cast Products, Rolled Products, Extruded Products
2) By Secondary Smelted And Alloyed Aluminum: Recycled Aluminum Alloys, Recycled Aluminum Ingots
3) By Refined Alumina And Primary Aluminum Production: Calcined Alumina, Non-Calcined Alumina, Primary Aluminum Ingots, Primary Aluminum Alloys
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Which Emerging Market Trends Are Altering The Processed Alumina And Aluminum Industry?
Producers of aluminium are integrating furnace insulators to reduce energy waste during the alloy's melting process. These insulators, comprised of heat resistant materials, are utilised for the thermal insulation of furnaces. Technologically advanced furnace insulators can withstand temperatures up to 1200oC and exhibit minimal shrinkage (less than 1%) at 700oC. Additional benefits of these furnace insulators include their strong resistance to thermal shock, abrasives, and chemicals. Recent comparative studies have proven the superior thermal conductivity of the evolved low bio-persistent fibre-based board furnace insulator, outperforming calcium silicate by approximately 20% at 600oC and 15% at 800oC. Key industry players that provide furnace insulators include Morgan, Thermal Products Company, and Nichias.
Who Are the Key Players In The Processed Alumina And Aluminum Market?
Major companies operating in the processed alumina and aluminum market include:
• Hindalco Industries Ltd.
• China Hongqiao Group Limited
• Novelis Inc
• Rio Tinto
• Alcoa Corporation
• United Co RUSAL PLC
• Aluminum Corporation of China Limited (CHALCO)
• Glencore International
• Emirates Global Aluminum
• Norsk Hydro ASA
• Alcoa Corporation
• Emirates Global Aluminium
• Century Aluminum Company
• Hindalco Industries
• Alumina Limited
• National Aluminium Company Limited (NALCO)
• China Power Investment Corporation
• Alumina & Bauxite Limited
• Aluminum Bahrain
• Aluminum Corporation of America
• KP Aluminum
• Vedanta Limited
• Shandong Nanshan Aluminum
• Hulamin
• Gulf Aluminum Rolling Mill Company
• China Zhongwang Holdings
• Eastern Aluminum
• IBC Advanced Alloys
• Tri-Arrows Aluminum
• Vimetco N.V.
• Aludium.
What Is The Most Dominant Region In The Processed Alumina And Aluminum Market?
Asia-Pacific was the largest region in the processed alumina and aluminium market in 2023. Western Europe was the second-largest region in the processed alumina and aluminium market. The regions covered in the processed alumina and aluminium market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
