LONDON--(BUSINESS WIRE)--The global aluminum market size is expected to grow by 13.66 million tons during 2020-2024, progressing at a CAGR of almost 3% during the forecast period.
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The use of aluminum cans in the beverage sector is one of the major factors propelling market growth. However, factors such as high volatility in London Metal Exchange (LME) prices of aluminum will hamper the market growth.
The lightweight and recyclable properties of aluminum cans make it a popular choice in the beverage industry for packaging sodas, energy drinks, beers, and sparkling water. Apart from being easily recyclable and air resistant, these cans can also be rapidly chilled and provide a superior metal surface for printing. This helps in enhancing the aesthetics of the packaging and retain the original taste of the packaged food. With the increasing demand for these cans in the beverage industry, the demand for aluminum is also bound to grow.
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Global Aluminum Market: End-user Landscape
The aerospace, automotive, rail transportation, and marine industries, all use aluminum extensively. The aerospace industry uses aluminum to make almost all aircraft for overall weight reduction and to make them fuel-efficient and capable of carrying the maximum load. Aluminum is used in vehicle parts such as wheels, bumpers, engine cylinder blocks, and the main body that includes the hood, doors, and frame. The marine industry uses aluminum-magnesium alloys in shipbuilding as they are corrosion-resistant to both freshwater and seawater. The growth of the overall transportation industry is, thus, expected to drive the demand for aluminum during the forecast period. However, market growth in this segment will be slower than the growth of the market in the packaging and electrical engineering segment.
Global Aluminum Market: Geographic Landscape
APAC was the largest aluminum market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The strong consumption of aluminum from the construction, automotive, and packaging industries in China and India will significantly drive aluminum market growth in this region over the forecast period. 74% of the market’s growth will originate from APAC during the forecast period. China, India, and Japan are the key markets for aluminum in APAC. Market growth in this region will be faster than the growth of the market in other regions.
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Companies Covered
- Alcoa Corp.
- Aluminum Corp. of China Ltd.
- China Hongqiao Group Ltd.
- Emirates Global Aluminium PJSC
- Kaiser Aluminum Corp.
- National Aluminium Co. Ltd.
- Norsk Hydro ASA
- Rio Tinto Ltd.
- United Company Rusal Plc
- Xinfa Group Co. Ltd.
What our reports offer:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers market data for 2019, 2020, till 2024
- Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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Aluminum Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist in aluminum market growth during the next five years
- Estimation of the aluminum market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the aluminum market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of aluminum market, vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user by Volume
- Market segments
- Comparison by End-user by volume
- Transportation - Market size and forecast 2019-2024 (million tons)
- Construction - Market size and forecast 2019-2024 (million tons)
- Packaging - Market size and forecast 2019-2024 (million tons)
- Electrical engineering - Market size and forecast 2019-2024 (million tons)
- Others - Market size and forecast 2019-2024 (million tons)
- Market opportunity by End-user by volume
Market Segmentation by Production Process by Volume
- Market segments
- Comparison by production process by volume
- Primary aluminum - Market size and forecast 2019-2024 (million tons)
- Secondary aluminum - Market size and forecast 2019-2024 (million tons)
- Market opportunity by production process by volume
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Competitive scenario
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Alcoa Corp.
- Aluminum Corp. of China Ltd.
- China Hongqiao Group Ltd.
- Emirates Global Aluminium PJSC
- Kaiser Aluminum Corp.
- National Aluminium Co. Ltd.
- Norsk Hydro ASA
- Rio Tinto Ltd.
- United Company Rusal Plc
- Xinfa Group Co. Ltd.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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