- In-Scope:
- Transportation:
The aluminum market share growth by the transportation segment will be significant during the forecast period. The transportation segment is expected to grow in the global aluminum market in 2019. The aerospace, automotive, rail transportation, and marine industries all use aluminum extensively. The aerospace industry in APAC and the Middle East is growing given the regions' stable GDP, relatively low costs of crude oil, and strong passenger traffic growth. The growth in passenger numbers will drive the global commercial aerospace sector during the forecast period.
- Out-of-Scope:
- Construction
- Packaging
- Electrical engineering
- Others
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Moreover, the report also provides Value Chain Analysis which helps companies gain a competitive advantage in the market. The Value Chain of the Aluminum Market includes the following core components:
- Inputs
- Operations
- Outbound logistics
- Mine development and extraction
- Marketing and sales
- End-user industries
- Support activities
- Innovation
Highlights-
- Segmentation- The report extensively covers market segmentation by End-user (transportation, construction, packaging, electrical engineering, and others), Geography (APAC, Europe, North America, MEA, and South America), and Production process (primary aluminum and secondary aluminum)
- Key Companies- 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, and Xinfa Group Co. Ltd. among others
- Driver- Increasing demand for aluminum in electric vehicles to drive the market
- Challenge- High volatility in London Metal Exchange (LME) prices of aluminum to hamper the market growth
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Vendor Insights-
The aluminum market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
- Alcoa Corp.- The company produces primary aluminum and its product portfolio includes bauxite, alumina and aluminum.
- China Hongqiao Group Ltd.- The company is engaged in the manufacturing and sales of primary aluminum and aluminum products.
- Emirates Global Aluminium PJSC- The company produces high-quality aluminum products in three main categories: high -purity and foundry re-melt products, rolling products, and billets for extrusion and forging.
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Learn More about Key Driver & Challenge of the Market-
- Aluminum Market Driver:
- Increasing demand for aluminum in electric vehicles:
Aluminum is widely used in electric vehicles to reduce their weight and lower the energy required to operate them. Aluminum finds applications in various parts of a vehicle, including the chassis, body, and wheels. It is also used in compartments that hold electric batteries in electric vehicles. The thermal transferring capacity of aluminum helps in regulating the temperature around the battery modules in extreme conditions such as hot or cold weather. Electric vehicles are gradually emerging as the future of the automotive industry. The growth of the global electric vehicle market is expected to boost the demand for aluminum during the forecast period.
- Aluminum Market Challenge:
- High volatility in London Metal Exchange (LME) prices of aluminum:
LME prices, which are the starting point of the aluminum price, are highly volatile in nature. LME prices of aluminum are dependent on macroeconomic factors, the metal's supply and demand, and the trading activities of financial investors. Any change in these factors can lead to a change in prices at the bourse. For instance, declining demand without a corresponding drop in supply would have a negative impact on aluminum pricing. Adding on high inventories with the LME or a huge release of aluminum metal into the market by the exchange could lead to a reduction in aluminum prices. Thus, volatility in LME pricing can adversely affect aluminum manufacturers' operations and eat into their profit margins.
Find additional information about various other market Drivers & Challenges mentioned in our FREE sample report.
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Aluminum Market Scope |
Report Coverage |
Details |
Page number |
120 |
Base year |
2019 |
Forecast period |
2020-2024 |
Growth momentum & CAGR |
Accelerate at a CAGR of 3% |
Market growth 2020-2024 |
13.66 mn tons |
Market structure |
Fragmented |
YoY growth (%) |
-3.70 |
Regional analysis |
APAC, Europe, North America, MEA, and South America |
Performing market contribution |
APAC at 74% |
Key consumer countries |
China, US, India, Germany, and Japan |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
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, and Xinfa Group Co. Ltd. |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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