Aluminium Metals Market Size

Aluminium Metals Market Growth Projections and Opportunities

Aluminium is a widely available metal found in large quantities in the Earth's crust. It possesses remarkable properties such as being malleable, ductile, machinable, and durable. In comparison to metals like copper and steel, aluminium is lighter, weighing only one-third of them, while maintaining impressive strength and displaying excellent resistance to corrosion. This unique combination of characteristics makes aluminium a highly sought-after material.

Industries across the board utilize aluminium for various applications. In the automotive sector, it is commonly used for structural and Powertrain applications. Likewise, in the building and construction industry, aluminium is employed in frames and structures. One notable advantage is that the automotive industry is increasingly incorporating recycled aluminium in packaging, leading to a growing demand for aluminium in the global market. This shift towards recycled aluminium is particularly prominent in developed economies, where it is considered more economical and environmentally sustainable compared to the production of primary aluminium. Interestingly, this trend is gradually making its way into developing economies.

According to an analysis by MRFR, the global aluminium market's value was USD 112,487.9 million in 2015 and is projected to reach USD 160,696.1 million by the end of 2022. This growth is attributed to the rapid adoption of recycled aluminium worldwide. The trend towards recycled aluminium aligns with the increasing emphasis on sustainability and cost-effectiveness in production.

Examining specific applications, the automotive industry held the largest market share for aluminium metal in 2015. This trend is expected to persist throughout the forecast period. The dominance of aluminium in the automotive sector can be attributed to the industry's overall growth, an expanding vehicle parc (the total number of vehicles on the road), and technological advancements. These advancements are driven by the need to comply with environmental regulations and emission standards, prompting the automotive sector to explore materials like aluminium that contribute to more sustainable practices.

In conclusion, aluminium's abundance and impressive properties make it a versatile and valuable material across various industries. Its use in automotive applications and the increasing adoption of recycled aluminium contribute significantly to the global aluminium market's growth. As sustainability becomes a focal point for industries worldwide, the demand for aluminium is expected to continue its upward trajectory, with recycled aluminium playing a pivotal role in meeting these evolving market demands.