Industry: Materials and Chemical | Publish Date: 01-Jun-2024 | No of Pages: 213 | No. of Tables: 145 | No. of Figures: 90 | Format: PDF | Report Code : N/A
Europe Aluminium Market size was valued at USD 54.59 billion in 2023, and is predicted to reach USD 74.75 billion by 2030, with a CAGR of 3.9% from 2024 to 2030.
Aluminum 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.
Aluminum’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 aluminum is its low density, which makes it lightweight compared to other metals, such as steel or copper. The lightweight nature of aluminum 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, aluminum possesses remarkable strength and durability, making it well-suited for various applications, including building facades and electrical wiring.
One of the key advantages of aluminum 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 aluminum is used in various commodities, ensuring sustained corrosion protection and enhancing the longevity of aluminum-based products.
According to the International Aluminium Institute (IAI), Europe has the world's highest Recycling Efficiency Rate (RER), recovering 81% of aluminium scrap available as of December 2020. The high aluminium recycling rate in Europe, driven by sustainability and circular economy practices, provides a steady supply of recycled aluminium, meeting the demand while reducing the need for primary production. Recycling aluminium requires less energy, resulting in lower carbon emissions and aligning with the region's sustainability goals.
The increasing automotive industry and the growing focus on sustainability in the renewable energy sector are contributing to the market growth in the region.
According to the International Renewable Energy Agency, the EU has set targets to achieve a 20% share of renewable energy in energy consumption by 2020 and 32% by 2030, aimed at transitioning towards renewable energy sources and promoting sustainability. As a result, there is a rising demand for aluminum in both the automotive and renewable energy industries, driving market growth and creating opportunities for further expansion in the region.
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 surge in government investment in Finland's construction industry, specifically in developing new infrastructure projects such as transportation networks and buildings, is driving the growth of the aluminium market. For instance, the Finnish government aims to allocate about USD 820 million for advancing and maintaining the transport network in Finland between 2022 and 2025.
The Norwegian aluminium industry benefits from the country's focus on renewable energy sources, mainly hydroelectric power. Hydroelectricity provides a clean and abundant energy source for aluminium production, making it more sustainable than other energy-intensive industries.
This factor contributes to Norway's competitive advantage in the global aluminium market. For instance, Hydro has initiated projects worth USD 352.94 million at its Karmøy, Husnes, Høyanger, Årdal, and Sunndal aluminium plants to produce aluminium products that are 100 percent recycled, and with a near zero-carbon footprint.
The Europe Aluminium Market 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
UK
Germany
France
Italy
Spain
Denmark
Netherlands
Finland
Sweden
Norway
Russia
Rest of Europe
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 54.59 Billion |
Revenue Forecast in 2030 |
USD 74.75 Billion |
Growth Rate |
CAGR of 3.9% 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 |
11 |
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