Published by Coherent Market Insights
Posted on October 7, 2021
3 min readLast updated: January 30, 2026
The global aluminum market is set to grow at a 6.1% CAGR, driven by demand in construction and automotive sectors, despite pandemic challenges.
[346 Pages Report ] The global aluminum market is expected to reach 102,976.2 thousand tons by 2027, exhibiting a CAGR of 6.1% during the forecast period (2020-2027). Growing demand for aluminum from the building and construction industry as the material is highly preferred as a green building material is a prime factor propelling the market growth of Aluminum. Also, Increasing demand from automotive sectors where reduced weight is significant for emission control, is fueling the growth of aluminum market.
Rising concern over the environment is shifting preference of consumers towards green products with lower carbon footprint is projected to offer immense growth to the market of aluminum over the forecast period.
Key Vendor: Rio Tinto Plc, Norsk Hydro ASA, UC RUSAL, Alcoa Inc., China Hongqiao Group Ltd., Aluminum Corporation of China Limited, Emirates Global Aluminum PJSC, Noranda Aluminum Holding Corporation, Aditya Birla Management Corporation Pvt. Ltd. and China Power Investment Corporation.
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Key Takeaways of the Market:
According to the Aluminum Association, China accounted for total 32% of bauxite mining in 2016 and is expected to show the continuous growth. Also, China is the world’s largest producer and a huge exporter of semi-manufactured aluminum products. Rolled aluminum product type segment dominated the global aluminum market in 2019, accounting for 32.6% share in terms of volume, followed by Extrusions and Castings, respectively.
Increasing reliance on the import of aluminum in the U.S region is expected to serve as a growth driver to the market of Aluminum. For example, Canada is a leading supplier of Aluminum, accounting for about 65% of crude Aluminum, 21% of semi-manufactures and 54% of total aluminum imports.
Key players operating in the global aluminum market include Rio Tinto Plc, Norsk Hydro ASA, UC RUSAL, Alcoa Inc., China Hongqiao Group Ltd., Aluminum Corporation of China Limited, Emirates Global Aluminum PJSC, Noranda Aluminum Holding Corporation, Aditya Birla Management Corporation Pvt. Ltd. and China Power Investment Corporation.
Global Aluminum Market – Impact of Coronavirus (Covid-19) Pandemic
The pandemic impact on global economic activity is expected to be profound. The demand for aluminum has been hit already, owing to downturn in automotive and aerospace sector. According to International Aluminum Institute, the global aluminum demand will contract by 5.4% in 2020, followed by a prolonged period of slow and staggered recovery.
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The post Growing at a CAGR of 6.1% Aluminum Market Opportunity and forecast 2021 | Rio Tinto Plc, Norsk Hydro ASA, UC RUSAL, Alcoa Inc., China Hongqiao Group Ltd. appeared first on Gatorledger.
The article discusses the growth forecast of the global aluminum market, expected to reach 102,976.2 thousand tons by 2027.
The market is driven by demand from the construction and automotive industries, with a focus on green building materials and emission control.
The pandemic has led to a downturn in demand, particularly in the automotive and aerospace sectors, with a slow recovery expected.
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