Latin America Aluminium Market

Plastic Optic Fiber Market Report Thumbnail

Latin America Aluminium Market by Product Type (Flat-Rolled, Castings, Extrusions, Forgings, Powder & Paste, Other Types), by Type (Primary and Secondary), by End User Industry (Transport, Consumer Goods, Machinery & Equipment, Construction, Foil and Packaging, Electrical Engineering, Others) – Opportunity Analysis and Industry Forecast 2024–2030

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

  • Facebook
  • Linkedin
  • Whatsapp

Market Definition

Latin America Aluminium Market size was valued at USD 3.77 billion in 2023, and is predicted to reach USD 7.75 billion by 2030, with a CAGR of 10.1% 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.

The Thriving Expansion of the Automotive Industry Drives Growth in the Aluminium Market 

The region's flourishing automotive industry propels the growth of the aluminium market. Brazil, recognized as one of the world's significant emerging economies, boasts a prominent automotive market. With a population exceeding 212 million people, this South American nation ranks sixth globally regarding new car registrations. Brazil exhibits a strong demand for vehicles and stands among the top ten passenger vehicle manufacturers worldwide. According to CEIC, Brazil's motor vehicle production reached 2,380,161.000 units in 2022, representing an increase from the previous year of 2,256,324.000 units.

 

The Growth of the Packaging Sector Propels the Aluminium Industry in Latin America

The rising population and urbanization trends in Latin America are driving an uptick in the consumption of packaged goods, thereby fueling the demand for aluminium packaging solutions. Aluminium's popularity stems from its recyclability and superior ability to maintain product freshness, making it a favored material for food and beverage packaging in the region.

This preference aligns with sustainability efforts and consumer expectations for both convenience and environmental responsibility, further cementing aluminium's role as a key player in Latin America's packaging industry.

Environmental and Regulatory Constraints Hinders the Growth of the Aluminium Market

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 Adoption of Sustainable Packaging Presents a Significant Opportunity

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.

 

Competitive Landscape

The Latin America aluminium industry includes several market players such as Aluminium Corporation of Latin America Limited (CHALCO), Hindalco Industries Ltd., Norsk Hydro ASA, Latin America 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.

Latin America Aluminium Market Key Segments

By Product Type        

  • Flat-Rolled

  • Castings

  • Extrusions

  • Forgings

  • Powder & Paste

  • Other Types

By Type    

  • Primary

  • Secondary

By End User Industry

  • Transport

  • Consumer Goods

  • Machinery & Equipment

  • Construction

  • Foil and Packaging

  • Electrical Engineering

  • Others

REPORT SCOPE AND SEGMENTATION:

Parameters

Details

Market Size in 2023

USD 3.77 Billion

Revenue Forecast in 2030

USD 7.75 Billion

Growth Rate

CAGR of 10.1% from 2024 to 2030

Analysis Period

2023–2030

Base Year Considered

2023

Forecast Period

2024–2030

Market Size Estimation

Billion (USD)

Growth Factors

  • The thriving expansion of the automotive industry drives growth in the market.

  • The growth of the packaging sector propels the aluminium industry in Latin America.

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.

KEY PLAYERS

  • 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

Bar chart Pie chart Pie chart

Frequently Asked Questions

According to the report published by the Next Move Consulting, the Latin America Aluminium Market business is expected to hit at $7.75 billion (USD) by 2030.

The Latin America Aluminium Market industry includes several market players such as Aluminium Corporation of Latin America Limited (CHALCO), Hindalco Industries Ltd., Norsk Hydro ASA, Latin America 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, and Century Aluminium Company.

The Latin America Aluminium Market share is segmented on the basis of product type, type, end user industry, and country.

Latin America's aluminium market growth is driven by its flourishing automotive industry and packaging sector growth.

Environmental and regulatory constraints hinder the growth of the aluminium market.

Download Free Sample

Please Enter Full Name

Please Enter Valid Email ID

Please enter Country Code and Phone No

Please enter message

popular
$2,575
$1,575
$3,875
$2,975

This website uses cookies to ensure you get the best experience on our website. Learn more