Industry: Materials and Chemical | Publish Date: 01-Jun-2024 | No of Pages: 142 | No. of Tables: 108 | No. of Figures: 53 | Format: PDF | Report Code : N/A
India Aluminium Market size was valued at USD 11.28 billion in 2023, and is predicted to reach USD 19.76 billion by 2030, with a CAGR of 7.6% 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.
India's ambitious infrastructure development plans significantly impact the demand for aluminium. The construction of new airports, railways, highways, smart cities, and other infrastructure projects necessitates using aluminium due to its lightweight, durability, and corrosion resistance.
According to the National Investment Production and Facilitation Agency, the Indian government invested USD 1.4 trillion in infrastructure between 2019 and 2023 to achieve sustainable national development. Since 2019 many road infrastructures, gas pipeline initiatives, and industrial development have occurred. The government's focus on enhancing urban and rural infrastructure creates a strong demand for the aluminium market in India.
As India focuses on expanding and modernizing its airport facilities, there is an increasing demand for aluminium in constructing airport terminals, hangars, and other infrastructure components. According to the India Brand Equity Foundation, the Indian government invested USD 5.99 to 6.41 billion is expected in India’s airport infrastructure between FY18-23.
India has become the world's third-largest domestic aviation market and is expected to overtake the UK to become the world’s third-largest aviation market by 2024. With the rising investment in airport infrastructure, the demand for aluminium is expected to witness significant growth in India, benefiting both the construction and aluminium industries.
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 India aluminium industry includes several market players such as Aluminium Corporation of India Limited (CHALCO), Hindalco Industries Ltd., Norsk Hydro ASA, India 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
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 11.28 Billion |
Revenue Forecast in 2030 |
USD 19.76 Billion |
Growth Rate |
CAGR of 7.6% from 2024 to 2030 |
Analysis Period |
2023–2030 |
Base Year Considered |
2023 |
Forecast Period |
2024–2030 |
Market Size Estimation |
Billion (USD) |
Growth Factors |
|
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. |