The global aluminum market size was US$ 148.1 billion in 2021. The global aluminum market size is forecast to reach US$ 246.4 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.82% during the forecast period from 2022 to 2030.

The boron group contains lightweight, ductile, nonmagnetic metal aluminum. Although it is the third most common element in the earth's crust, it is rarely encountered in nature alone. Cryolite and bauxite are two common minerals from which it is typically derived. When evaporated in a vacuum, it produces a reflective coating that is used to make telescope mirrors, packaging, and toys. It finds application in manufacturing a wide range of goods, including foil, window frames, kitchenware, aerospace components, beer kegs, and others. Airlines, automobiles, rail transportation, and shipbuilding are just a few industries that use aluminum.

Factors Influencing Market Growth
The quick development of cities and potential applications of aluminum as a copper substitute in the power industry drive the global market.

The growing initiatives, including the design of car dismantling, shredder, and environmental safety centers boost the global market growth.

The significant growth in the construction sector is likely to increase the demand for adequate materials with high durability & strength and low-self weight. This, in turn, boosts global market growth.

The increasing environmental concerns and the population rising expectations for a government effort to decrease pollution levels may slow down the overall market growth.

Impact Analysis of COVID-19
The COVID-19 pandemic had a moderate impact on the global market. Due to the worldwide lockdown during the COVID-19 pandemic, aluminum suffered in terms of distribution and logistics. The pandemic-induced economic crisis caused a halt to aluminum production and distribution. The COVID-19 pandemic caused disruptions in the transportation, building, construction, and machinery and equipment sectors, which led to a decrease in aluminum utilization in these sectors. Due to various economic and legal restrictions globally, the global COVID-19 pandemic hampered intercountry activity and the import and export of aluminum.

However, all industries began to operate at the beginning of 2021, and as a result, the demand for aluminum increased in the transportation, building & construction, and machinery & equipment sectors.

Regional Insights
The Asia Pacific region accounted for a substantial market share in 2021 and is forecast to maintain its position throughout the forecast years. As a result of growing industrialization, rapid urbanization, rising investment in infrastructure, and the expansion of the automobile sector. In addition, China, Japan, South Korea, and Taiwan consume the majority of aluminum. Thus, these factors boost the market growth in the region.

Leading Competitors
The leading prominent companies profiled in the global aluminum market are:
Alcoa Corporation
Aluminium Corporation of China Limited
China Hongqiao Group Ltd.
Hindalco Industries
East Hope Group Company Limited
Emirates Global Aluminum PJSC
Norsk Hydro ASA
Rio Tinto Alcan Inc.
United Company Rusal Plc.
Xinfa Group Co., Ltd.
Other Prominent Players

Scope of the Report
The global aluminum market segmentation focuses on End-User, Series, Processing Method, and Region.
Segmentation based on End-User
Transport
Building & Construction
Electrical Engineering
Consumer Goods
Foil & Packaging
Machinery & Equipment
Others
Segmentation based on Series
SERIES 1
SERIES 2
SERIES 3
SERIES 4
SERIES 5
SERIES 6
SERIES 7
SERIES 8
Segmentation based on Processing Method
Flat Rolled
Castings
Extrusions
Forgings
Pigments & Powder
Rod & Bar
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America