Industry: Materials and Chemical | Publish Date: 16-Dec-2024 | No of Pages: 110 | No. of Tables: 78 | No. of Figures: 43 | Format: PDF | Report Code : MC1349
The Spain Aluminium Market size was valued at USD 4.19 billion in 2023, and is predicted to reach USD 6.19 billion by 2030, at a CAGR of 5.7% from 2024 to 2030. The aluminum sector includes the industry involved in the production, distribution, and use of aluminum, a lightweight, 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 features make it highly useful in sectors such as aerospace, automotive, construction, packaging, and electronics. Its low weight is especially beneficial for improving efficiency in transportation. The production process involves extracting aluminum from bauxite ore using the bayer process and electrolysis. Advances in technology and recycling have improved the environmental sustainability of production, supporting industry growth.
The Spanish government's efforts to encourage renewable energy adoption and cut carbon emissions are significantly boosting the aluminum market. These initiatives foster the growth of the renewable energy sector, creating new opportunities for market expansion.
The International Trade Administration reports that Spain is prioritizing increased renewable energy use and plans to invest USD 14.8 million annually in energy storage solutions until 2030 to reduce CO2 emissions. This commitment supports the market’s growth by driving demand for aluminum in renewable energy infrastructure.
The expansion of the region’s automotive industry significantly drives the growth of the Spain aluminium market. As the industry advances, there is a growing need for lightweight and durable materials to improve vehicle performance and fuel efficiency.
Aluminum is increasingly used in the production of automotive components, such as engine parts and body panels, due to its strength and reduced weight.
The rise in vehicle production and sales in Spain underscores the demand for aluminum, as it helps manufacturers meet stringent emissions regulations and enhance overall vehicle efficiency. This trend reflects the industry's shift towards more sustainable and high-performance vehicles, driving continued growth in aluminum consumption.
The decline in the construction industry hinders the growth of the Spain aluminium market. Reduced activity in the construction sector leads to a lower demand for aluminum used in building materials such as windows, frames, and structural components. This decrease in demand results in lower sales and production levels for aluminum suppliers and manufacturers. Consequently, the overall growth and stability of the aluminum sector is negatively affected, as the sector relies significantly on construction for a substantial portion of its aluminum consumption.
The increasing emphasis on sustainable packaging presents substantial growth opportunities for the Spain aluminium market. Aluminum is well-suited for packaging applications such as cans, bottles, and foils because of its recyclability and effectiveness in preserving product quality and freshness.
As eco-conscious consumers and brands seek to minimize their environmental impact, they are increasingly selecting aluminum as their preferred packaging material. This choice helps reduce waste and supports sustainability, aligning with broader environmental goals. The growing demand for eco-friendly packaging solutions is a major driver of growth in the aluminum market.
Several market players operating in the Spain aluminium industry include Alcoa Corporation, Norsk Hydro ASA, Aludium, Constellium SE, Aliberico Group, Exlabesa, LatemAluminium, Arconic, Vedanta Aluminium & Power, Jindal Aluminium Limited, and others.
Flat-Rolled
Castings
Extrusions
Forgings
Powder & Paste
Other Types
Primary
Secondary
Transport
Consumer Goods
Machinery & Equipment
Construction
Foil & Packaging
Electrical Engineering
Others
Alcoa Corporation
Norsk Hydro ASA
Aludium
Constellium SE
Aliberico Group
Exlabesa
LatemAluminium
Arconic
Vedanta Aluminium & Power
Jindal Aluminium Limited
REPORT SCOPE AND SEGMENTATION:
Parameters |
Details |
Market Size in 2023 |
USD 4.19 Billion |
Revenue Forecast in 2030 |
USD 6.19 Billion |
Growth Rate |
CAGR of 5.7% 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. |