The 2024 domestic aluminum industry analysis report focuses on the statistics and forecasts of the historical and future market size of the aluminum market. The data shows that the global and Chinese aluminum market capacities in 2023 will be RMB billion and RMB billion respectively. Based on the development trend of the aluminum market in the past five years and combined with the analysis of market influencing factors, Betzers Consulting expects the global aluminum market size to grow at a CAGR of % during the forecast period and is expected to reach RMB billion in 2029.
In terms of product type, the aluminum industry can be divided into secondary aluminum and primary aluminum. From the perspective of terminal applications, aluminum can be used in construction, packaging, transportation, electrical engineering, and other fields. The report includes an in-depth analysis of the price, market size, share and development trend of various types of products, as well as the market size, share, and demand potential of each application.
The key companies in China's aluminum industry are Commercial Metals Co., Alcoa Corp., David J. Joseph Co., Sims Metal Management, and OmniSource Corp. The report analyzes the changes in aluminum sales volume, sales revenue, price, gross profit, gross margin, market share, etc. of these companies in the past five years.
Aluminum is a chemical element with the symbol Al and atomic number 13. The density of aluminum is lower than other common metals and is about one-third that of steel. Aluminum is mainly found in rocks in the earth's crust and is the third most abundant element after oxygen and silicon. It has a great affinity for oxygen and forms a protective oxide layer on the surface when exposed to air. Aluminum is visually similar to silver, both in color and in its ability to reflect light. It is soft, non-magnetic and tough.
Major aluminum industry companies:
Commecial Metals Co.
Alcoa Corp.
David J. Joseph Co.
Sims Metal Management
OmniSource Corp.
Product type segmentation:
Secondary aluminum
Primary aluminum
Application segmentation:
Construction industry
Packaging industry
Transportation
Electrical engineering
Others
Industry Overview:
The impact of the COVID-19 outbreak on the development of the aluminum industry
The COVID-19 outbreak has caused devastating loss of life and devastated the national economy. The impact of the COVID-19 outbreak on the U.S. economy is widespread. In April 2020, the U.S. employment rate had already fallen sharply. The decline in employment was greater than expected, indicating that the epidemic has caused more people to lose their jobs. The scale of the economic crisis is unprecedented: the epidemic has caused demand shocks, supply shocks and financial shocks at the same time.
2020 is the year when the coronavirus caused the worst economic freeze since the end of World War II, with the overall economy shrinking by 3.5%, casting a shadow on the outlook for the coming year. The pandemic broke out 10 months ago and triggered a severe recession, leaving tens of millions of Americans unemployed.
In the current market economy, the upstream or downstream industrial chain has never been so closely connected. The COVID-19 epidemic has caused a large number of factories to shut down, employees to be unable to go to work, and traffic to be blocked. The production of the aluminum industry has also been affected by the COVID-19. Most of the raw materials for the aluminum industry in the United States come from imports, but the outbreak of the COVID-19 has caused the closure of ports in many countries. The supply of raw materials is blocked, and the production of aluminum products has been adversely affected. In addition, a large number of factories have been closed, and the production of aluminum and the demand of downstream industries have declined. The aluminum industry chain has been disrupted by the COVID-19. Therefore, dealing with the impact of the COVID-19 on the supply chain is also one of the important issues that aluminum manufacturers need to deal with.
Affected by the COVID-19, the aluminum industry in many markets has begun to show signs of slowing down. A major shift occurred when automakers and aerospace manufacturers in the United States and Europe began to reduce production. North American passenger car production is expected to decline, and demand for aluminum rolled products and extrusions is expected to decline. In the aerospace field, the demand for rolled products has declined as air traffic has declined and some aircraft OEMs have suspended production. Due to reduced demand, many aluminum companies have reduced or temporarily closed some operations in the United States and Europe. The outbreak of COVID-19 has led to a slowdown in the U.S. aluminum market.
Drivers of Aluminum
The market for the aluminum industry is driven by the downstream market. Aluminum is used in a variety of products, including cans, high-rise buildings, aluminum foil, kitchenware, window frames, beer kegs, automotive and aircraft parts, etc. Aluminum is used in various fields such as transportation, construction, packaging and electrical engineering. In recent years, the development of the U.S. transportation industry and the increasing use of aluminum in various industries such as construction, electrical and packaging have led to an increasing demand for aluminum. This is one of the main factors driving the development of the U.S. aluminum market.
Aluminum has a strong affinity for oxygen and forms a protective oxide layer on the surface when exposed to air. This makes aluminum less likely to be corroded by air, so products made of aluminum tend to have a longer service life than those made of other metals, while also helping to reduce negative impacts on the environment. It is soft, non-magnetic and ductile. Aluminum is three times lighter than iron, so aluminum is widely used in transportation industries such as aircraft, ships and automobiles, which can reduce weight and save energy. Because the properties of products made of aluminum are easy to recover, the natural properties are not lost during the recovery process, which is conducive to environmental protection and recycling. These advantages make aluminum widely used in various industries and demand is stable, which also makes aluminum have good application prospects.
Overview of the competitive landscape:
Century Aluminum is one of the major operators in the aluminum market, with a market share of 17.13% in 2021.
Century Aluminum is a global primary aluminum producer that operates aluminum reduction facilities in the United States and Iceland. We operate three U.S. aluminum smelters in Hawesville, Kentucky, Robards, Kentucky, and Mt. Holly, South Carolina, and a smelter in Grundartangi, Iceland. Their primary aluminum facilities produce standard grade and value-added primary aluminum products.
Alcoa Corp. is an American industrial company and the world's eighth largest aluminum producer. Alcoa is a leader in the production of bauxite, alumina and aluminum products. Alcoa is a major producer of primary aluminum, aluminum products and alumina through active and continuous participation in all major aspects of the industry: technology, mining, refining, smelting, manufacturing and recycling.
Category Market Overview:
By type, the secondary aluminum segment has the largest market share in 2021.
Segment Application Overview:
In terms of application, the transportation segment accounted for the largest share from 2017 to 2022.
Regional Distribution:
Among all regions, the southern United States has the highest growth rate.