Global Sustainable Aluminum Market Insights Forecasts to 2033

• The Market Size is Growing at a 5.8% CAGR from 2023 to 2033.
• The Worldwide Sustainable Aluminum Market Size is Expected to Reach a Significant Share by 2033.
• North America is expected to Grow the fastest during the forecast period.

The Global Sustainable Aluminum Market Size is Expected to Reach a Significant Share by 2033, Growing at a 5.8% CAGR from 2023 to 2033.

Market Overview

Aluminium is a silvery-white, non-magnetic, ductile metal that is essential in modern manufacturing and trade. Its unique mix of lightweight and outstanding strength has significantly revolutionized industries ranging from aerospace to automotive, where weight reduction equals efficiency. Aluminum can be recycled multiple times without losing its characteristics, making it a very sustainable material. Recycling aluminum requires up to 95% less energy than creating new aluminum from raw sources. Furthermore, the widespread use of aluminum in everyday consumer products and packaging, as well as transportation networks, emphasizes its importance in contemporary culture. Furthermore, increased demand for the commodity from electric vehicles and OEMs is driving sustainable aluminum market expansion. Additionally, The International Aluminium Institute (IAI) launched a new initiative in December 2023 with the goal of transparently and publicly tracking each member company's progress toward lowering greenhouse gas emissions. As the aluminum industry tries to cut its greenhouse gas emissions, major producers have already endorsed this effort, which is being launched at the United Nations Climate Change Conference (COP 28) in Dubai.

Report Coverage

This research report categorizes the market for the global sustainable aluminum market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global sustainable aluminum market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global sustainable aluminum market.

Driving Factors

The food and packaging, as well as pharmaceutical industries, are the main drivers of the aluminum market's expansion. Aluminum is non-toxic, keeps food fresh for extended periods, and prevents the growth of bacteria. In practically every aspect, aluminum cans make the most sustainable beverage packaging. Compared to other packaging materials, aluminum cans have a higher recycling rate and more recycled content. In addition, aluminum cans are far more valuable than glass or plastic, which means that municipal recycling programs can be sustained financially while recycling less valuable materials found in the trash is essentially subsidized. Moreover, one of aluminum's most important qualities is its fundamental capacity for recycling, recovery, and reuse. Green buildings are always looking for materials that have less of an impact on the environment. Because it is recyclable, aluminum is a good material to employ as a sustainable one. Recycling rates in the building industry range from 92% to 95%. Due to these factors, the global sustainable aluminum market is anticipated to grow.

Restraining Factors9

The market has been restrained by the automotive industry's decline during the past few years. The automobile sector has been identified by the International Monetary Fund (IMF) as a key contributor to the general industrial production lag.

Market Segmentation

The global sustainable aluminum market share is classified into product, processing methods, and end-use.

• The cast products segment is expected to hold the largest share of the global sustainable aluminum market during the forecast period.   

Based on the product, the global sustainable aluminum market is divided into sheet, plate, cast products, extrusion, and others. Among these, the cast products segment is expected to hold the largest share of the global sustainable aluminum market during the forecast period. Cast aluminum is used to create a wide variety of products, from basic personal hand-held gadgets to intricate automotive parts. The cast alloy is a unique material because of its affordability.

• The casting segment is expected to grow at the fastest CAGR in the global sustainable aluminum market during the forecast period.   

Based on the processing methods, the global sustainable aluminum market is divided into rolling, extruding, casting, forging, drawn, and others. Among these, the casting segment is expected to grow at the fastest CAGR in the global sustainable aluminum market during the forecast period. Aluminum castings can be utilized in a variety of settings and applications due to their adaptability. It finds application in the defense and military industries, where precise castings with tight tolerances and near-net shape are essential. Electronics, building & construction, and other industries also use it.

• The construction segment is expected to hold the largest share of the global sustainable aluminum market during the forecast period.

Based on the end-use, the global sustainable aluminum market is divided into construction, transportation (aerospace, automotive, and marine), packaging (food & beverages, cosmetics, and others), electrical, consumer durables, machinery & equipment, and others. Among these, the construction segment is expected to hold the largest share of the global sustainable aluminum market during the forecast period. The primary drivers of the category growth include the expansion of infrastructure development and construction projects, as well as the growing use of interior countertops and cladding products.

Regional Segment Analysis of the Global Sustainable Aluminum Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

Asia Pacific is anticipated to hold the largest share of the global sustainable aluminum market over the predicted timeframe.

The expanding extensive usage of the product in construction, notably for structural components and facades, along with the rapid development of infrastructure and urbanization, especially in countries like China and India, is driving regional growth. The manufacture of both conventional and electric vehicles in the local automotive industry is heavily dependent on materials like aluminum, as it strives to attain fuel efficiency and lower emissions. The region's market is also being supported by the rising packaging industry in developing nations and the growing recycling of metal. Furthermore, the largest market for domestic air travel as well as the nation that produces the greatest number of aircraft, according to the Civil Aviation Administration of China (CAAC). Over the previous five years, the nation's fleet of civil airplanes has grown, which will increase demand for aluminum even more. Moreover, pills, capsules, creams, lotions, liquid medications, and powder medications are packaged with aluminum foil.

North America is expected to grow at the fastest pace in the global sustainable aluminum market during the forecast period. One major reason propelling the market expansion in this region is the use of this metal by EV manufacturers to lighten their vehicles. Furthermore, the strong strength-to-weight ratio of Al makes it an ideal choice for the rapidly expanding aircraft industry in the region, which drives up demand for the metal. Furthermore, a number of sectors are using the metal in manufacturing, packaging, and building applications due to the region's strong emphasis on sustainability.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global sustainable aluminum market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

• Novelis
• Constellium SE
• Norsk Hydro ASA
• Rio Tinto
• Speira
• Kaiser Aluminum
• AMAG Austria Metall AG
• Arconic
• TRIMET Aluminium
• Tomra Recycling
• Ball Corporation
• UACJ Corporation
• Rusal
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In April 2024, The specially constructed recycling facility, close to the main aluminum plant in Høyanger, was funded by Hydro with NOK 240 million. Because aluminum is recovered, Hydro's casting goods will have an even lower carbon footprint. The facility is the first of its kind in Norway, with the capacity to handle 36,000 tons of post-consumer aluminum scrap annually.

• In November 2023, A significant step forward in sustainable manufacturing was made when Vedanta Aluminium, the largest aluminum maker in India, shipped its first batch of Restora, the nation's first low-carbon "green" aluminum, to Global Aluminium Pvt Ltd in Telangana.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global sustainable aluminum market based on the below-mentioned segments: 

Global Sustainable Aluminum Market, By Product

• Sheet
• Plate
• Cast Products
• Extrusion
• Others

Global Sustainable Aluminum Market, By Processing Methods

• Rolling
• Extruding
• Casting
• Forging
• Drawn
• Others

Global Sustainable Aluminum Market, By End-Use

• Construction
• Transportation 
  • Aerospace
  • Automotive
  • Marine
• Packaging 
  • Food & Beverages
  • Cosmetics
  • Others
• Electrical
• Consumer Durables
• Machinery & Equipment
• Others

Global Sustainable Aluminum Market, Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • Uk
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa