Aluminum Market | Industrial Application Analysis, Regional Outlook, Competitive Strategies & Forecast by 2023

Aluminum Market
Global aluminum market research forecast: by application (transportation, building & construction, machinery & equipment, electrical, consumer goods, packaging, foils, others), and by region till 2023

Aluminum Market–Market Overview

The Global Aluminum Market is projected to grow significantly on account of increasing demand from major end uses such as transportation, building & construction, and industrial machinery. The primary factors driving growth of the market are the rising use of the light weight vehicles, growing demand for lightweight yet durable material in numerous industrial applications, and ever increasing demand of the product from construction industry. The Global Automotive Market is estimated to grow at higher cagr to mark over usd 90 billion revenue in 2017. This is anticipated to boost growth of the Global Aluminum Market in manufacturing light yet durable automotive parts. Moreover, surging demand from electronics, packaging and consumer goods applications is expected to further boost growth of the market.

Aluminum Market- Competitive Landscape

The Global Aluminum is a highly mature market which accommodates significant number of tier 1 players. The market is driven by growing automotive and machinery equipment industry.  The Global Aluminum Market comprised of several major players operating in the market including Tier 1 and Tier 2 manufacturers. Rio Tinto Alcan Inc., RUSAL, Norsk Hydro ASA, Alcoa Corporation Aluminum Bahrain (Alba), Vedanta Ltd., and Rio Tinto Australia are the major aluminum producers, and others are the small-scale producers majorly from Europe and China. The market is moving towards growth consolidation wherein the major players are not concentrated in any particular region, but are spread across the major regions namely North America, Europe, Asia Pacific, and Middle East. The aforementioned companies above are planning to expand their annual production capacity in the aluminum production and smelting in order to match the ongoing and anticipated rise in the demand from expanding application scope during the years to follow. Growing automotive industries, and continuous rising demand from machine tool and equipment, along with the collaborations and agreements between manufacturers, distributers, governments and marketing firms are key market forces operating in the market for the growth of the demand for Aluminum.

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Industry/ Innovation/ Related News:

October 25, 2017- Emirates Global Aluminum (EGA), the largest industrial project in the United Arab Emirates after oil and gas, has completed a three-year, $300 million project replaced older production lines at its Jebel Ali aluminum smelter with the company’s own UAE-developed technology, boosting production capacity and reducing costs and environmental emissions.

December 8, 2017- Hydro Extruded Solutions AS has acquired two extrusion plants of Arconic in Brazil for USD 10 million. The agreement will strengthen Hydro’s downstream position in Brazil and create a solid platform for further growth.

April 11, 2017- Vedanta Ltd has announced the merger of Cairn India with itself. In a statement the company announced the effective merger of the two companies which will form a merged entity with a larger pro forma market capitalization of USD 15 billion.

July 11, 2017- Alcoa Corporation has announced its plans to restart three of five pot lines at its Warrick Operations aluminum smelter near Evansville, Ind. The process to restart the three lines, with 161,400 metric tons of annual capacity is expected to be completed in the second quarter of 2018. Two of the five smelting pot lines will be classified as curtailed capacity and will remain idle. After this partial restart, Alcoa will have approximately 886,000 metric tons idled of its total smelting capacity of 3.4 million metric tons.

March 23, 2107- Aluminum Corp Of China Ltd has proposed an acquisition of 40% equity interests in Chalco Shanghai. The proposed acquisition of 40% equity interests in Chalco Shanghai was recently approved by the board.

March 28, 2017- UC RUSAL has launched a “Properzi” rolling mill into operation at Kandalaksha Aluminum Smelter (KAZ) as part of the casthouse modernization project at the smelter.

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