Aluminum's market expansion is being driven largely by rising demand from various end-user industries because to its exceptional properties of durability, ductility, and lightweight. Aluminum's increasing use because it helps to reduce carbon emissions is driving up demand in transportation, automotive, renewable energy and green buildings, and air conditioning and refrigeration. As a result, the aluminum market is likely to rise as well. Aluminum's increasing application in industries like as oil and gas, renewable energy, and telecommunications is expected to drive market expansion. Furthermore, it is readily recycled, making it an attractive raw material for a variety of applications, which is projected to drive market expansion. The aluminum sector is seeing a decline in profit margins as a result of oversupply, which is a primary factor projected to stymie aluminum market growth. Furthermore, the shortage of renewable energy that reduces CO2 emissions is expected to stymie aluminum industry expansion.
According to Coherent Market Insights, the global Aluminum Market is estimated to reach 102,976.2 thousand Tons by the end of 2027 in terms of volume, exhibiting a CAGR of 6.1% during the forecast period (2020 to 2027).
Leading Companies in the Aluminum Industry:
1. Rio Tinto Plc
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities. Rio Tinto Group was founded in 1873 and is headquartered in London, the United Kingdom. In March 2022, Apple announced that they would purchase a first batch of commercial-purity aluminum produced at the Research and Development Centre to manufacture their new iPhone SE. in June 2022 we partnered with Corona Canada to launch of Canada’s first specially-marked, low carbon beverage can, manufactured by Ball Corporation. Work is now focused on scaling up ELYSISTM technology for even larger commercial-size cells, which should become operational in 2023. Construction of these prototype cells is now well underway at the end of an existing potline at Rio Tinto’s Alma smelter.
2. Norsk Hydro ASA
Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminum smelting, remelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Bauxite & Alumina, Aluminum Metal, Metal Markets, Extrusions, and Energy segments. Norsk Hydro ASA was founded in 1905 and is headquartered in Oslo, Norway. On December 2022, Hydro has signed an agreement to acquire Hueck, a provider of aluminum window, door, and façade systems and extruded aluminum profiles.
3. UC RUSAL, Alcoa Inc.
RUSAL is a leading, global aluminum producer. The company’s main products are primary aluminum, aluminum alloys, foil and alumina. RUSAL is a completely vertically integrated aluminum company with assets right through the production process – from bauxite and nepheline ore mines to aluminum smelters and foil mills. This provides RUSAL with exceptional operational flexibility and enables it to control every stage of the manufacturing process and ensure the highest quality of products. On April 2021, Rusal Completes Purchase of Aluminum Rheinfelden After Regulatory Approval.
4. China Hongqiao Group Ltd.
China Hongqiao Group Limited, an investment holding company, manufactures and sells aluminum products in the People's Republic of China and Indonesia. The company's products include molten aluminum alloys, aluminum alloy ingots, aluminum busbars, aluminum alloy processing, and alumina products. The company was founded in 1994 and is headquartered in Zouping, the People's Republic of China.
5. Aluminum Corporation of China Limited
Aluminum Corporation of China Limited, together with its subsidiaries, manufactures and sells alumina, primary aluminum, aluminum alloys, and carbon products in the People's Republic of China and internationally. The company operates through five segments: Alumina, Primary Aluminum, Trading, Energy, and Corporate and Other Operating. Aluminum Corporation of China Limited was incorporated in 2001 and is headquartered in Beijing, the People's Republic of China. In 2022 October, the company entered into the partnership agreement with ABC Capital, China Aluminum Innovation and Investment, ABC Investment, China Copper, Chinalco High-end Manufacturing and Chinalco Capital Holdings for the establishment of the Fund.
6. Emirates Global Aluminum PJSC
Emirates Global Aluminum P.J.S.C. (EGA) operates as a producer of aluminum products. The Company offers billets, liquid metals, re-melt aluminum, primary aluminum, and other related products. EGA serves customers in the United Arab Emirates. On March 2022, Abu Dhabi National Energy Company (TAQA) and Dubal (dubai Aluminum) Holding are planning to acquire the UAE power generation assets of Emirates Global Aluminum (EGA), with Taqa and Dubal to each hold a 50 per cent share. The company was founded in 1979, headquartered in Abu Dhabi, UAE.
7. Noranda Aluminum Holding Corporation
Noranda Aluminum Holding Corporation produces and sells primary aluminum, alumina, bauxite, and rolled aluminum coils in the United States. The company's Bauxite segment mines, produces, and sells bauxite used for alumina production. Its Alumina segment refines and converts bauxite into alumina, which is used in the production of primary aluminum; and sells smelter grade alumina and alumina hydrate, or chemical-grade alumina. The company was founded in 2007 and is headquartered in Franklin, Tennessee.
8. Aditya Birla Management Corporation Pvt. Ltd.
The Aditya Birla Group has been ranked fourth in the world and first in Asia Pacific in the ‘Top Companies for Leaders’ study 2011, conducted by Aon Hewitt, Fortune Magazine and RBL (a strategic HR and leadership Advisory firm). The Group has topped the Nielsen's Corporate Image Monitor 2014-15 and emerged as the Number one corporate, the 'Best in Class', for the third consecutive year. The company was founded in 1857, headquartered in India. In December 2021, Hindalco acquires Hydro’s Aluminum Extrusions Business in Andhra Pradesh accelerating its journey into high-end value-added products
9. China Power Investment Corporation
China Power International Development Limited, an investment holding company, develops, constructs, owns, operates, and manages power plants in the People's Republic of China. The company operates through Coal-Fired Electricity, Hydropower Electricity, and Photovoltaic Power Electricity segments. It generates, distributes, and sells electricity through coal-fired, hydro, wind, and photovoltaic power plants. The company provides coal management and consultancy, and logistic services; and owns and operates hotels. China Power International Development Limited was incorporated in 2004 and is based in Wan Chai, Hong Kong.
*Definition - Aluminum is a silver-white element that belongs to Periodic Table Group 13. Because aluminum is very resistant to corrosion, it is perfect as an engineering material because it is sturdy, light, and practical. Furthermore, aluminum metal (as a metal) is harmless and nonmagnetic.
