Industry: Materials and Chemical | Publish Date: 01-Mar-2025 | No of Pages: 111 | No. of Tables: 138 | No. of Figures: 83 | Format: PDF | Report Code : MC1358
The South Korea Aluminium Market size was valued at USD 10 billion in 2023, and is predicted to reach USD 14.86 billion by 2030, at a CAGR of 5.8% from 2024 to 2030. The aluminum sector covers the industry focused on producing, distributing, and utilizing aluminum, a light and silvery metal.
Aluminum constitutes approximately 8% of the Earth's crust and is recognized for its low density, high strength, and resistance to corrosion from a natural oxide layer. These properties make aluminum crucial in industries like aerospace, automotive, construction, packaging, and electronics.
Its lightweight nature enhances efficiency, particularly in transportation. Aluminum is extracted from bauxite ore through the bayer process and electrolysis. Recent advancements in energy efficiency and recycling have made production more sustainable, aiding industry development.
The expanding electronics industry in South Korea significantly boosts the aluminium market. The country's strong position in electronics manufacturing, combined with aluminum's lightweight, corrosion-resistant, and heat-conductive properties, makes it essential for producing devices such as smartphones, laptops, and PCBs.
As consumer electronics demand rises, aluminum is increasingly needed to reduce device weight while maintaining strength. South Korea's advancements in electronics and the trend toward smaller, more efficient devices heighten the need for aluminum. Consequently, the growth of South Korea's electronics sector enhances and supports the South Korea aluminium market expansion.
The expanding automotive industry in the country plays a crucial role in boosting the South Korea aluminum market. The automotive sector's reliance on aluminum stems from its lightweight, strength, and resistance to corrosion.
Aluminum is integral in manufacturing various vehicle components, including engine blocks, body panels, wheels, and chassis, which helps reduce vehicle weight, improve fuel efficiency, and meet emission standards.
As the industry increasingly focuses on hybrid and electric vehicles, the South Korea aluminium market demand rises due to its lightweight characteristics. This growth in the automotive sector creates new opportunities for aluminum producers and suppliers, driving the overall expansion of the market in South Korea.
The South Korea aluminum market encounters significant challenges from stringent environmental regulations and sustainability requirements. Adhering to emissions control, waste management, and energy efficiency targets often leads to increased operational costs for producers.
Compliance with these rigorous standards necessitates substantial investments in advanced 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 cost to production, affecting the overall efficiency and profitability of aluminum manufacturing.
The increasing emphasis on sustainable packaging presents substantial growth opportunities for the South Korea 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 sector in the country.
Several players operating in the South Korea aluminium industry include Aluko Co.,Ltd., Ulsan Aluminum , Norsk Hydro ASA, Daeyong Industry, CheongSong JungAng Aluminium Co. Ltd., Korea Aluminium Co.,Ltd, Dongil Aluminium Co.,Ltd. , Sama Aluminium and Glass Industries Co. LLC, Toyo Tokai Aluminium Hanbai K.K., Choil Aluminium Co. Ltd. , Novelis (Hindalco Industries Ltd.), Rio Tinto , Arconic Korea Ltd., United Company RUSAL Plc., Korea Zinc Company, Ltd., and others.
Primary
Secondary
Flat-Rolled
Castings
Extrusions
Forgings
Powder & Paste
Other Types
1xxx Series
2xxx Series
3xxx Series
4xxx Series
5xxx Series
6xxx Series
7xxx Series
Transport
Aerospace
Automotive
Marine
Consumer Goods
Machinery & Equipment
Construction
Packaging
Food & Beverage
Cosmetics
Others
Electrical Engineering
Others
Aluko Co.,Ltd.
Ulsan Aluminum
Norsk Hydro ASA
Daeyong Industry
CheongSong JungAng Aluminium Co. Ltd.
Korea Aluminium Co.,Ltd
Dongil Aluminium Co.,Ltd.
Sama Aluminium and Glass Industries Co. LLC
Toyo Tokai Aluminium Hanbai K.K.
Choil Aluminium Co. Ltd.
Novelis (Hindalco Industries Ltd.)
Rio Tinto
Arconic Korea Ltd.
United Company RUSAL Plc.
Korea Zinc Company, Ltd.
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 10.00 Billion |
Revenue Forecast in 2030 |
USD 14.86 Billion |
Growth Rate |
CAGR of 5.8% 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. |