Report Details:
15 Companies Covered
111 Pages
Market Research Future (MRFR) has published a cooked research report on the “Aluminum Market” that contains the information from 2019 to 2035.
The Aluminum Market is estimated to register a CAGR of 5.385% during the forecast period of 2025 to 2035.
MRFR recognizes the following companies as the key players in the Aluminum Market— Alcoa Corporation, Rio Tinto, Century Aluminum Company, JW Aluminum, Kaiser Aluminum, Novelis Inc, C-KOE Metals, UC Rusal, Norsk Hydro ASA, Hindalco Industries, National Aluminium Company Limited, National ALUMINIUM EXTRUSION CO. LLC.
Aluminum Market Highlights
The Global Aluminum Market is accounted for to register a CAGR of 5.385% during the forecast period and is estimated to reach USD 3,47,442.9 million by 2035.
Aluminum has been a fundamental material in the aeronautical industry for decades due to its superior strength-to-weight ratio, corrosion resistance, and ease of manufacturing. Aircraft manufacturers, including Boeing and Airbus, rely heavily on aluminum alloys to construct fuselage structures, wings, and landing gear, ensuring that modern aircraft remain lightweight yet durable. Compared to steel, aluminum reduces the overall weight of an aircraft, leading to significant improvements in fuel efficiency and maneuverability. This is particularly crucial in commercial aviation, where even a slight reduction in weight translates into substantial savings in fuel costs and extended flight ranges. The Boeing 787 Dreamliner, for instance, incorporates 20% aluminum by weight, while previous models like the Boeing 777 utilized 50% aluminum, highlighting the material's continued importance despite the rise of composite materials. The demand for aluminum in aeronautics is expected to remain strong, driven by the need to optimize aircraft performance and reduce operational costs.
The development of high-performance aluminum alloys has further strengthened the material’s application in the aerospace industry. Several alloys, such as 2024, 7075, and 6061, are widely used for their high tensile strength, fatigue resistance, and machinability. Alloy 2024, for example, is commonly utilized in fuselage skins and wing structures due to its excellent fatigue resistance. Meanwhile, 7075 aluminums, with strength comparable to steel, is a preferred choice for critical structural components like wing spars and landing gear assemblies. Newer advancements in aluminum-lithium alloys, such as 2195 and 2050, offer even greater weight reduction and enhanced corrosion resistance, making them attractive for next-generation aircraft. The continuous innovation in alloy compositions ensures that aluminum remains competitive against composite materials, securing its place in the evolving landscape of aeronautical engineering.
Weight reduction is a key priority in aerospace engineering, as lighter aircraft translate to lower fuel consumption, increased payload capacity, and improved range. Research suggests that for every kilogram reduced in an aircraft’s structural weight, operational costs decrease significantly, particularly in fuel-intensive industries such as commercial aviation and space exploration. In military aviation, reducing the weight of fighter jets by 15% can shorten taxiing distances by the same percentage while increasing range by 20% and payload capacity by 30%. These advantages have led to a global emphasis on developing lightweight structural materials, with aluminum alloys remaining at the forefront due to their recyclability, abundance, and well-established manufacturing processes. Despite the increasing adoption of carbon fiber composites, aluminum continues to play a vital role in aircraft design, particularly in areas where high tensile strength, impact resistance, and affordability are critical.
Segment Analysis
The Aluminum Market has been segmented based on Type, Product Type, Application and Region.
The Aluminum Market segmentation, based on Type has been segmented into Primary and Secondary. Among these, the Primary segment is projected to dominate the Aluminum Market revenue through the projected period. Based on Product Type, the market is segmented into Flat Rolled, Castings, Extrusion, Rods & Bars, Forgings and Others, among which Flat Rolled segment is projected to dominate the market.
Based on Application, market is segmented into Building & Construction, Automotive & Transportation, Foil & Packaging, Power, Machinery & Equipment (Industrial), Consumer Goods and Others, among which the Automotive & Transportation segment is projected to dominate the Aluminum Market.
Region Analysis
By Region, the Aluminum Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific Aluminum Market holds considerable market share and is also forecasted to hold the largest share during the forecast period.
Key Findings of the Study
- The Aluminum Market is expected to reach 2,67,233.6 million by 2030, at a CAGR of 5.385% during the forecast period.
- Asia Pacific accounted for the fastest-growing market.
- Based on Type, the Primary segment was attributed to holding the largest market in 2024.
- Based on Product Type, the Flat Rolled segment was attributed to holding the largest market in 2024.
- Based on Application, the Automotive & Transportation segment was attributed to holding the largest market in 2024.
- Alcoa Corporation, Rio Tinto, Century Aluminum Company, JW Aluminum, Kaiser Aluminum, Novelis Inc, C-KOE Metals, UC Rusal, Norsk Hydro ASA, Hindalco Industries, National Aluminium Company Limited, National ALUMINIUM EXTRUSION CO. LLC are the key market players.