Industry: Materials and Chemical | Publish Date: 20-Sep-2024 | No of Pages: 202 | No. of Tables: 139 | No. of Figures: 84 | Format: PDF | Report Code : MC1338
Asia-Pacific Aluminium Market size was valued at USD 102.86 billion in 2023, and is predicted to reach USD 157.30 billion by 2030, with a CAGR of 5.6% from 2024 to 2030.
Aluminium is a lightweight and silvery-white metal that belongs to the group of chemical elements called post-transition metals. This metal is a group of chemical elements with properties similar to metals, but are less reactive and have lower melting and boiling points than transition metals.
Aluminium’s remarkable properties make it highly versatile and widely used across various industries, such as aerospace, automotive, construction, packaging, and electronics. One of the critical characteristics of Aluminium is its low density, which makes it lightweight compared to other metals, such as steel or copper. The lightweight nature of Aluminium allows the production of lightweight and efficient products.
This property is particularly advantageous in industries, including aerospace, automotive, and transportation, in which reducing weight can improve fuel efficiency, increase payload capacity, and enhance overall performance. Despite its lightweight nature, Aluminium possesses remarkable strength and durability, making it well-suited for various applications, including building facades and electrical wiring.
One of the key advantages of Aluminium is its high corrosion resistance, attributed to the formation of a thin oxide layer on its surface. This natural oxide layer acts as a protective barrier, shielding the metal from various environmental factors. It is important to note that this oxide layer remains intact even when Aluminium is used in various commodities, ensuring sustained corrosion protection and enhancing the longevity of Aluminium-based products.
The expanding food packaging industry in the Asia Pacific region is propelling the growth of the Aluminium market. As the demand for packaged food continues to rise in this region, the need for efficient and reliable packaging materials such as Aluminium is on the rise due to its lightweight nature, durability, and ability to protect food products from external elements such as moisture, light, and air.
Additionally, Aluminium packaging is recyclable, making it an environmentally sustainable choice for manufacturers and consumers alike. With the increasing consumption of packaged food items in the Asia Pacific region, the demand for Aluminium for food packaging applications is expected to continue growing, driving the overall growth of the Aluminium market in the region.
The presence of the automotive manufacturing sector plays a pivotal role in driving aluminium market expansion across the Asia-Pacific region. With a burgeoning demand for vehicles and a shift towards lightweight and fuel-efficient designs, the automotive industry in Asia-Pacific drives significant demand for aluminium, which is widely utilized in various vehicle components.
This robust demand not only fuels growth within the automotive sector but also boosts investment and innovation in the aluminium industry, positioning the region as a key player in the global aluminium market while driving economic growth and industrial development.
The aluminium industry is affected by environmental regulations and sustainability requirements such as emissions control, waste management, and energy efficiency targets, which can increase operational costs and pose challenges for some producers. Compliance with stringent emissions standards, waste management regulations, and energy consumption targets can require significant investments and efforts to reduce the environmental impact of aluminium production.
These sustainability measures aim to minimize emissions, promote responsible waste management, and encourage energy efficiency. While these regulations are essential to promote a greener and more sustainable industry, they can add to the overall costs and complexities of aluminium production.
The increasing emphasis on sustainable packaging is expected to create ample growth opportunities for the market in the future. Aluminium is well-suited for applications such as cans, bottles, and foils, benefiting from its recyclability and ability to maintain product quality and freshness. Eco-conscious consumers and brands seeking to minimize their environmental impact prefer aluminium as a preferred choice. By opting for aluminium packaging, they reduce waste and promote sustainability, aligning with their commitment to a greener future. This growing demand for sustainable packaging solutions drives the growth of the aluminium market.
The expanding automotive sector in China is a significant factor driving the aluminium market. Aluminium's lightweight properties make it ideal for vehicle manufacturing, resulting in increased demand for aluminium in car bodies, engine components, and structural parts. According to the International Trade Administration, China’s domestic automotive production is anticipated to reach 35 million vehicles by 2025. As China continues to expand its automotive industry, the demand for aluminium is projected to remain robust, further fueling the growth of the aluminium market in the region.
The construction sector in Thailand have a strong demand for aluminium products due to increasing urbanization and infrastructure development. In 2021, this sector contributed approximately USD 13,205 million to Thailand's GDP. This presents opportunities for aluminium suppliers and manufacturers to support the country's infrastructure goals by meeting the needs of the construction sector.
The Asia-Pacific aluminium industry includes several market players such as Aluminium Corporation of China Limited (CHALCO), Hindalco Industries Ltd., Norsk Hydro ASA, China Hongqiao Group Limited, United Company RUSAL PLC, Rio Tinto, East Hope Group Company Limited, Xinfa Group Co., Ltd., Alcoa Corporation, and Arconic Inc., Emirates Global Aluminium PJSC, Vedanta Aluminium and Power, Ma’aden, South32, and Century Aluminium Company.
Flat-Rolled
Castings
Extrusions
Forgings
Powder & Paste
Other Types
Primary
Secondary
Transport
Consumer Goods
Machinery & Equipment
Construction
Foil and Packaging
Electrical Engineering
Others
China
Japan
India
South Korea
Australia
Indonesia
Vietnam
Taiwan
Thailand
Rest of Asia-Pacific
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 102.86 Billion |
Revenue Forecast in 2030 |
USD 157.30 Billion |
Growth Rate |
CAGR of 5.6% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
Countries Covered |
9 |
Companies Profiled |
15 |
Market Share |
Available for 10 companies |
Customization Scope |
Free customization (equivalent up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
Aluminium Corporation of China Limited (CHALCO)
Hindalco Industries Ltd.
Norsk Hydro ASA
China Hongqiao Group Limited
United Company RUSAL PLC
Rio Tinto
East Hope Group Company Limited
Xinfa Group Co., Ltd.
Alcoa Corporation
Arconic Inc.
Emirates Global Aluminium PJSC
Vedanta Aluminium and Power
Ma’aden
South32
Century Aluminium Company