Asia-Pacific 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
Asia-Pacific Aluminium Market was valued at USD 102.86 billion in 2023, and is predicted to reach USD 157.30 billion by 2030, with a CAGR of 5.6% from 2024 to 2030.
The expanding food packaging industry in the Asia Pacific region is propelling the growth of the Aluminium market. As the demand for packaged food continues to rise in this region, the need for efficient and reliable packaging materials such as Aluminium is on the rise due to its lightweight nature, durability, and ability to protect food products from external elements such as moisture, light, and air. Additionally, Aluminium packaging is recyclable, making it an environmentally sustainable choice for manufacturers and consumers alike. With the increasing consumption of packaged food items in the Asia Pacific region, the demand for Aluminium for food packaging applications is expected to continue growing, driving the overall growth of the Aluminium market in the region.
However, 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.
On the other hand, 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.
Segment Overview
• The Asia-Pacific Aluminium industry is segmented on the basis of product type, type, and end user industry.
• By product type, the market is segmented into flat-rolled, casting, extrusions, forgings, power and paste, and other types.
• By type, the market is divided into primary and secondary.
• By end user industry, the market is classified into transport, consumer goods, machinery and equipment, construction, foil and packaging, electrical engineering, and others.
Regional Analysis
China Holds the Dominant Market Share in the Asia-Pacific Market
The expanding automotive sector in China is a significant factor driving the aluminium market. Aluminium's lightweight properties make it ideal for vehicle manufacturing, resulting in increased demand for aluminium in car bodies, engine components, and structural parts. According to the International Trade Administration, China’s domestic automotive production will reach 35 million vehicles by 2025. Based on data from the Ministry of Industry and Information Technology, over 26 million vehicles were sold in 2021, including 21.48 million passenger vehicles, an increase of 7.1% from 2020.
Key Market Players
The key players in the Asia-Pacific Aluminium market research include companies such as:
• 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
KEY BENEFITS
• The Asia-Pacific aluminium market report provides a quantitative analysis of the current market and estimations from 2024 to 2030. This analysis assists in identifying the prevailing market opportunities.
• The study comprises a comprehensive analysis of the market trends, including current and future trends for depicting prevalent investment pockets in the market.
• The information related to key drivers, restraints, and opportunities and their impact on the Asia-Pacific Aluminium market is provided in the report.
• The competitive analysis of the market players along with their market share in the Asia-Pacific Aluminium market is provided in the report.
• The SWOT analysis and Porter’s Five Forces model are elaborated in the study.
The value chain analysis in the market study provides a clear picture of the role of stakeholders.
