The global Aluminium Ingot market stood at approximately 36.3 million tonnes in 2023 and is anticipated to grow at a CAGR of 5.75% during the forecast period until 2034.
Aluminium ingots, formed by pouring molten Aluminium into specialized moulds, are pivotal in diverse industries due to their versatility and advantageous properties. As the second most utilized metal globally, Aluminium plays a crucial role in applications ranging from transportation to construction, packaging, and electrical transmission. In transportation industries such as aircraft, automobiles, and railways, Aluminium ingots are prized for their lightweight nature, contributing to fuel efficiency and performance enhancements. Similarly, the packaging industry relies on Aluminium ingots to produce corrosion-resistant cans and foils, ensuring product freshness and shelf life. In construction, Aluminium ingots are indispensable for manufacturing doors, windows, and wall coverings, offering durability, aesthetics, and resistance to corrosion. Moreover, Aluminium ingots find applications in home appliances, electrical transmission lines, glassmaking processes, and manufacturing casting parts, showcasing their adaptability across various sectors. The use of Aluminium ingots facilitates sustainable practices, as Aluminium is highly recyclable, reducing environmental impact and promoting resource efficiency.
The demand for Aluminium ingots is being propelled by several key market drivers. Firstly, the surge in infrastructure development, particularly in emerging economies, is fuelling the need for Aluminium ingots in construction and related industries. The construction of new buildings, roads, bridges, and other infrastructure projects requires Aluminium ingots for various structural and architectural components. Additionally, the expanding packaging industry, particularly in sectors like food and beverage, is driving the demand for Aluminium ingots for the production of cans and packaging materials. As consumer preferences shift towards convenient and sustainable packaging solutions, the demand for Aluminium ingots is expected to continue growing. Moreover, the increasing emphasis on renewable energy initiatives, such as solar and wind power, is driving demand for Aluminium ingots for manufacturing components in the renewable energy sector. Aluminium's lightweight, corrosion-resistant, and recyclable properties make it an ideal material for producing components for solar panels, wind turbines, and other renewable energy systems. Furthermore, rapid urbanization and industrialization in developing regions are contributing to the escalating demand for Aluminium ingots. As urban populations grow and industrial activities expand, there is a greater need for Aluminium ingots in various applications, including transportation, and infrastructure, consumer goods, supporting the market growth. The global Aluminium Ingot market is likely to reach approximately 67 million tonnes in 2034.
Geographically, Asia Pacific stands out as the largest consumer of Aluminium ingots, primarily due to heightened demand across key industries such as construction, automotive, and semiconductors. Within the region, China and India emerge as significant markets for Aluminium ingots, driven by their robust construction sectors. The surge in construction activities in these countries, fuelled by urbanization, infrastructure development, and industrial growth, has led to a substantial increase in the consumption of Aluminium ingots. Additionally, the automotive and semiconductor industries in Asia-Pacific contribute significantly to the demand for Aluminium ingots, owing to their extensive use of Aluminium in various components and applications. As a result, Asia-Pacific remains a prominent market for Aluminium ingots, with China and India playing pivotal roles in driving consumption within the region.
Based on the end-use, the global Aluminium Ingot market is divided into Automotive & Transportation, Construction, Packaging, Electrical & Electronics, and Others. Among these, Automotive & Transportation sector is the major segment and held about 34% of the global Aluminium Ingot market in 2023.
Significant players in the Global Aluminium Ingot market are Alcoa Inc., Aluminium Corporation of China Limited (Chalco), Aluminium Bahrain, BHP Billiton, China Zhongwang Holdings Limited, Dubai Aluminium Company, Hindalco Industries Ltd., JBMI, Norsk Hydro ASA, Rio Tinto Group, RUSAL Plc, SPIC, Inc., and Others.
Years considered for this report:
Historical Period: 2015- 2022
Base Year: 2023
Estimated Year: 2024
Forecast Period: 2025-2034
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Objective of the Study:
• To assess the demand-supply scenario of Aluminium Ingot which covers production, demand and supply of Aluminium Ingot market in the globe.
• To analyse and forecast the market size of Aluminium Ingot
• To classify and forecast Global Aluminium Ingot market based on end-use and regional distribution.
• To examine competitive developments such as expansions, mergers & acquisitions, etc., of Aluminium Ingot market in the globe.
To extract data for Global Aluminium Ingot market, primary research surveys were conducted with Aluminium Ingot manufacturers, suppliers, distributors, wholesalers and traders. While interviewing, the respondents were also inquired about their competitors. Through this technique, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various segments and projected a positive outlook for Global Aluminium Ingot market over the coming years.
ChemAnalyst calculated Aluminium Ingot demand across the globe by analyzing the volume of Aluminium Ingot consumed by the end-user industries and the forecast is calculated based on the growth rate of end-use industries. ChemAnalyst sourced these values from industry experts and company representatives and externally validated them by analyzing the historical sales data of respective manufacturers to determine the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by ChemAnalyst.
Key Target Audience:
• Aluminium Ingot manufacturers and other stakeholders
• Organizations, forums and alliances related to Aluminium Ingot distribution
• Government bodies such as regulating authorities and policy makers
• Market research organizations and consulting companies
The study is useful in providing answers to several critical questions that are important for industry stakeholders such as Aluminium Ingot manufacturers, customers and policy makers. The study would also help them to target the growing segments over the coming years (next two to five years), thereby aiding the stakeholders in taking investment decisions and facilitating their expansion.
Report Scope:
In this report, Global Aluminium Ingot market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size Volume in 2023
36.3 million tonnes
Market size Volume in 2034
67 million tonnes
Growth Rate
CAGR of 5.75% from 2024 to 2034
Base year
2023
Estimated year
2024
Historical Data
2015 – 2022
Forecast period
2025 – 2034
Quantitative units
Demand in million tonnes and CAGR from 2024 to 2034
Report coverage
Industry Market Size, Capacity by Company, Capacity by Location, Operating Efficiency, Production by Company, Demand by End- Use, Demand by Region, Demand by Sales Channel, Demand-Supply Gap, Company Share, Manufacturing Process, Foreign Trade.
Segments covered
By End-Use: (Automotive & Transportation, Construction, Packaging, Electrical & Electronics, and Others)
By Sales Channel: (Direct Sale and Indirect Sale)
Regional scope
North America, Europe, Asia Pacific, Middle East and Africa, and South America.
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Member - Board of Directors
Osaka Gas Co. Ltd
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What was the net market size of Aluminium Ingot in terms of volume in 2023?
Ans:
The global market size of Aluminium Ingot has reached approximately 36.3 million tonnes in 2023.
Q2.
Which region is the leading consumer of Aluminium Ingot?
Ans:
The Asia Pacific region is the leading consumer of Aluminium Ingot globally.
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