Aluminium Market to Expand at 6.2% CAGR from 2023 to 2032; Emirates Global Aluminum Partnered with Veolia's RECAPP for The Promotion Of Product Recycling

The global aluminium market size stood at USD 262.75 billion in 2022. The market value is slated to rise from USD 229.85 billion in 2023 to USD 393.70 billion by 2032 at a CAGR of 6.2% during 2023-2032. Fortune Business Insights™ presents this information in its report titled “Aluminium Market Size, Share & COVID-19 Impact Analysis, By Product (Sheet, Plate, Cast Products, Extrusion, and Others), By Alloy Type (Cast Alloy and Wrought Alloy), By End-use (Construction, Transportation {Aerospace, Automotive, and Marine}, Packaging {Food & Beverages, Cosmetics, and Others}, Electrical, Consumer Durables, Machinery & Equipment, and Others), and Regional Forecast, 2023-2032.”

Aluminium means a non-magnetic, ductile, and silvery-white metal which has an essential role in modern commerce and industry. Moreover, its huge deployment in transportation systems and daily consumer products and packaging throws light on its importance in modern society. The market expansion can be credited to the growth in the incorporation of the product in the automotive & transportation industries.

COVID-19 Pandemic Led to a Decline in Market Growth Owing to Deceleration in Manufacturing Sector

The COVID-19 negatively influenced the market growth. The pandemic witnessed short-term production halts owing to prolonged lockdowns in many industries, such as electronics, industrial machinery, construction, automotive, and consumer appliances across the globe. In addition, the demand for the product from the industrial sector witnessed a sudden decline.

Emirates Global Aluminum Declared its Plan to Establish the First Product Recycling Facility to Increase its Production Capacity

In February 2022, Emirates Global Aluminum announced its intent for the construction of the first product recycling facility in the UAE. This move is poised to add an additional 150,000 tons per year to product recycling facilities. The product name EternAL will be used by the company to market recycled products.

Market Value to Grow Owing to the Growing Popularity of Secondary Products

The aluminium market growth is driven by the surging popularity of secondary aluminium. A fraction of the energy needed to produce new metals from ore is deployed by secondary or scrap metal recycling, leading to a reduction in the damage to the environment.

Despite such growth opportunities, the introduction of stringent environmental regulations may hinder the market growth.

Market Players Emphasize Partnership Deals to Keep Ahead of Their Competition

Mergers and acquisitions, product innovations, joint ventures, and capacity expansion strategies are being focused by leading companies to gain a competitive edge. Moreover, partnership strategies are also being adopted by these companies to maximize their revenue while boosting their position.

To get a detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/industry-reports/aluminium-market-100233

List of Key Players profiled in the Market:

• RusAL (Russia)


• Aluminium Corporation of China Limited (CHALCO) (China)


• Rio Tinto (U.K.)


• Alcoa Corporation (U.S.)


• Emirates Global Aluminium (UAE)


• Norsk Hydro ASA (Norway)


• Hindalco Industries Ltd. (India)


• Vedanta Aluminium & Power (India)


• China Hongqiao Group Limited (China)

Key Industry Development

April 2023 - Emirates Global Aluminum inked a deal with Veolia's RECAPP for the promotion of product recycling in schools and universities across the UAE.

Further Report Findings

• The Asia Pacific market witnessed the largest share in 2022 due to the rising metal recycling coupled with the growing packaging industry in developing nations.


• With respect to product, the market is classified into extrusion, cast products, sheet, and others. The cast products segment witnessed the largest aluminium market share in 2022. Cast alloys are affordable, making them irreplaceable. This factor is augmenting the cast products segment growth.


• With respect to alloy type, the market is divided into wrought alloy and cast alloy. The wrought alloy segment held the largest share in the market in 2022. Wrought alloys demonstrate high mechanical strength and ductility as compared to their cast counterparts. This factor is fostering the segment growth.


• By end-use, the market is classified into transportation, consumer durables, machinery & equipment, construction, electrical, packaging, and others. The transportation segment accounted for the largest share in the market in 2022. The increase in the uptake of metal in the automotive industry on the back of its lightweight attribute is escalating the transportation segment growth.

Table of Segmentation