How large is the processed alumina and aluminum market, and what is its growth trajectory?
The processed alumina and aluminum market size has grown strongly in recent years. It will grow from $963.95 billion in 2024 to $1026.65 billion in 2025 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to global economic trends, raw material prices, technological advancements, end-user industries.
The processed alumina and aluminum market size is expected to see steady growth in the next few years. It will grow to $1245.21 billion in 2029 at a compound annual growth rate (CAGR) of 4.9%. The growth in the forecast period can be attributed to sustainability initiatives, infrastructure development, electric vehicles (evs), supply chain resilience. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships.
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What are the key forces behind the processed alumina and aluminum market’s growth in recent years?
The alumina and aluminium market growth are driven by the increase in construction activity in emerging markets. The construction industry refers to the commercial manufacturing and trade sector that deals with developing, preserving, and repairing infrastructures. The construction industry is a significant consumer of aluminum products, including aluminum alloys, sheets, and extrusions. These materials are used in various construction applications such as windows, doors, roofing, siding, and structural components. As construction activities surge, the demand for aluminum in these applications also rises. Emerging markets that registered robust construction activity included China, Brazil, India, Saudi Arabia, and Indonesia. For instance, in July 2024, according to the US Census Bureau, a US-based government agency, the value of construction operations rose from $2.01 trillion in May 2023 to $2.14 trillion in May 2024. This rapid growth in construction activity contributed to the growth of the alumina and aluminium production and processing market.
What are the major segments of the 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 companies dominate 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.
Which market trends are set to define the future of the processed alumina and aluminum market?
Aluminium manufacturers are using furnace insulators to minimize energy loss during the melting process. Furnace insulators are temperature resistant materials used for thermal insulation of furnaces. Advanced furnace insulators have temperature resistance of up to 1200oC with low shrinkage of less than 1% at 700oC. They also provide high resistance to thermal shock, abrasives, and chemicals. Recent tests have indicated that in terms of thermal conductivity, the advanced low bio-persistent fibre-based board furnace insulator performs better than calcium silicate by about 20% at 600oC and 15% at 800oC. Major companies offering furnace insulators include Morgan, Thermal Products Company, Nichias.
Which geographic trends are shaping the processed alumina and aluminum market, and which region has the highest market share?
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.
What Does The Processed Alumina And Aluminum Market Report 2025 Offer?
The processed alumina and aluminum market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Processed alumina and aluminum refer to a process that involves alumina extraction primarily from bauxite ore, producing aluminum from alumina, recovering aluminum from scrap or dross, refining aluminum by any process, alloying purchased aluminum, and rolling, drawing, casting, extruding, and alloying aluminum and aluminum-based alloys into primary forms such as bar, foil, pipe, plate, rod, sheet, tube, and wire.
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