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
Middle East Aluminium Market size was valued at USD 11.33 billion in 2023, and is predicted to reach USD 16.68 billion by 2030, with a CAGR of 5.0% 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 Middle East aluminium market growth is propelled by the increasing emphasis on aluminium recycling, which offers various benefits such as energy savings, resource preservation, and minimized environmental impact.
For instance, in January 2023, Emirates Global Aluminium, the largest industrial company in the United Arab Emirates, launched Aluminium Recycling Coalition, which aims to drive a step-change in aluminium recycling in the UAE. The Aluminium Recycling Coalition aims to promote aluminium recycling by UAE consumers, particularly beverage cans.
In addition, in June 2023, L'Occitane introduced the ‘Gift of Nature' campaign in the Middle East, emphasizing its commitment to sustainability. The brand, known for its association with aluminium, launched products made from recycled aluminium as part of this campaign. This initiative aligns with the growing focus on aluminium recycling in the region, contributing to the overall growth of the aluminium industry.
The rapid infrastructure development in the Middle East, encompassing projects such as skyscrapers, airports, and transportation networks, relies heavily on aluminium due to its lightweight, durability, and corrosion resistance. As a versatile and cost-effective material, aluminium is integral to the construction industry, driving substantial demand across the region as it fulfills essential structural and architectural requirements for modern infrastructure projects.
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 Middle East aluminium industry includes several market players such as Aluminium Corporation of Middle East Limited (CHALCO), Hindalco Industries Ltd., Norsk Hydro ASA, Middle East 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 11.33 Billion |
Revenue Forecast in 2030 |
USD 16.68 Billion |
Growth Rate |
CAGR of 5.0% 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. |
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