Industry: Materials and Chemical | Publish Date: 01-Oct-2024 | No of Pages: 111 | No. of Tables: 78 | No. of Figures: 43 | Format: PDF | Report Code : MC1366
Africa Aluminium Market size was valued at USD 3.59 billion in 2023, and is predicted to reach USD 6.53 billion by 2030, at a CAGR of 8.9% from 2024 to 2030. The aluminum market involves the sector engaged in the production, distribution, and application of aluminum, a lightweight and silvery-white metal. Aluminum constitutes about 8% of the Earth's crust and is known for its low density, high strength, and natural corrosion resistance due to an oxide layer. These attributes make aluminum valuable for aerospace, automotive, construction, packaging, and electronics industries. Its lightweight nature improves efficiency, especially in transportation. The production of aluminum involves processing bauxite ore using the Bayer process and electrolysis. Improvements in technology and recycling have enhanced production sustainability, supporting industry growth and reducing environmental impact.
The aluminum market is experiencing growth due to various regional initiatives that promote and support advancements within the industry. For example, in December 2022, Gravita India Limited's subsidiary, Gravita Togo SAU, based in Togo, West Africa, began commercial production of aluminum cast-alloys. This new recycling plant, which has an initial annual capacity of approximately 4,000 MTPA in its first phase, reflects the significant efforts by key players to enhance industry capabilities. Such initiatives are expected to drive further growth in the aluminum market.
The aluminum market in the region is experiencing growth due to rising aluminum production. Leveraging its rich natural resources, this region has made significant strides in developing its aluminum industry, that is contributing to market expansion. Countries such as Guinea, that holds one of the world's largest bauxite reserves, and South Africa, with its well-established mining infrastructure. The focus on developing local aluminum industries is not only reducing Africa's reliance on imported aluminum products but also fostering economic development within the region. By improving production infrastructure and investing in technology, African countries are enhancing their ability to produce high-quality aluminum products. This growth aligns with broader economic goals and supports the development of key sectors such as construction, transportation, and energy, all of which rely heavily on aluminum.
The aluminum industry encounters significant challenges stemming from strict environmental regulations and sustainability requirements. Compliance with emissions control, waste management, and energy efficiency targets often leads to increased operational costs for producers. Adhering to these rigorous standards demands substantial investments in technologies and processes designed to minimize the environmental impact of aluminum production. Although these measures are essential for promoting a greener industry, they also add complexity and raise production costs, ultimately impacting the efficiency and profitability of aluminum manufacturing.
The increasing emphasis on sustainable packaging presents substantial growth opportunities for the aluminum market. Aluminum is highly valued for packaging applications such as cans, bottles, and foils due to its recyclability and effectiveness in preserving product quality and freshness. As eco-conscious consumers and brands strive to minimize their environmental impact, they are increasingly opting for aluminum as their preferred packaging material. This choice helps reduce waste and supports sustainability goals, contributing to the growth of the aluminum market.
Several market players operating in the Africa aluminium industry are Rio Tinto, Hulamin GmbH, Guinea Aluminium Corporation, BHP Group Limited, United Company RUSAL Plc., South32, Ghana Bauxite Company, Aluminium Industries Ltd (ALIND), Nigeria Aluminium Extrusions (NIGALEX), Egyptalum, and others.
Flat-Rolled
Castings
Extrusions
Forgings
Powder & Paste
Other Types
Primary
Secondary
Transport
Consumer Goods
Machinery & Equipment
Construction
Foil & Packaging
Electrical Engineering
Others
Rio Tinto
Hulamin GmbH
Guinea Aluminium Corporation
BHP Group Limited
United Company RUSAL Plc.
South32
Ghana Bauxite Company
Aluminium Industries Ltd (ALIND)
Nigeria Aluminium Extrusions (NIGALEX)
Egyptalum
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 3.59 Billion |
Revenue Forecast in 2030 |
USD 6.53 Billion |
Growth Rate |
CAGR of 8.9% 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 |
10 |
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. |