USD 43.0 billion
Global Alumina Market Size, Share, Growth Analysis, By Product(Metallurgical Grade, Refractory Grade), By Application(Aluminum Production, Non-Aluminum Production) - Industry Forecast 2024-2031
Report ID:
SQMIG15A2330 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
68 |
Figures:
75
Global Alumina Market Insights
Alumina Market size was valued at USD 43.0 billion in 2021 and is poised to grow from USD 48.21 billion in 2023 to USD 71.97 billion by 2030, at a CAGR of 5.89% during the forecast period (2023-2030).
Aluminum oxide finds extensive use in various engineering applications, such as anti-corrosion coatings, wear-resistant components, and the computer industry.
Alumina is valued for its exceptional attributes, including high durability, brightness, low heat emission, and excellent stability at high temperatures. However, it is a relatively costly material. The automotive industry is increasingly embracing alumina components due to their superior performance and safety benefits.
Global automakers are shifting towards lightweight materials to enhance fuel efficiency, leading to a significant rise in the demand for alumina. Lightweight body panels and improved load-bearing capabilities for light-duty commercial vehicles are driving this demand. Furthermore, the booming automotive sectors in emerging economies will further fuel the need for premium alumina in the future.
US Alumina Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Aluminum Production
Fastest Growth
Aluminum Production
Growth Rate
5.89% CAGR
Global Alumina Market by region
Country Share for Asia Pacific (%)
Global Alumina Market by application
Global Alumina Market by application
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Global Alumina Market Segmental Analysis
The alumina market is segmented based on product, application, and regions. The product types include metallurgical grade, refractory grade, grinding grade, and others. In terms of applications, it is categorized into aluminum production, non-aluminum production, abrasives, ceramics, refractories, filtration, and others. By region, the market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Alumina Market Analysis By Product
The largest segment in terms of demand is likely to be the metallurgical grade alumina, which is extensively used in the production of aluminum metal. As the automotive, aerospace, and construction industries continue to grow, there is a consistent demand for aluminum, and subsequently, Metallurgical Grade alumina. The lightweight properties of aluminum make it highly attractive for various applications, driving the demand.
On the other hand, the fastest-growing segment is expected to be grinding grade alumina. The grinding grade alumina is used in manufacturing abrasives like cutting and grinding wheels, sandpapers, and other abrasive products. The growth in manufacturing and construction activities globally is fueling the demand for abrasives, thus leading to an increased demand for Grinding Grade alumina.
Alumina Market Analysis By Application
The largest application segment for alumina is in aluminum production. Alumina is a key raw material in the aluminum smelting process, where it is used to extract aluminum metal from bauxite ore. The growing demand for aluminum in industries such as automotive, aerospace, packaging, and construction is driving the need for alumina in the aluminum production sector.
On the other hand, the fastest-growing application for alumina is in non-aluminum production. Alumina finds application in various non-aluminum industries, including abrasives, ceramics, refractories, filtration, and more. The increasing demand for abrasives in industries like metalworking, construction, and electronics is propelling the growth of alumina in the abrasives segment. Moreover, the expanding ceramic and refractories industries, driven by construction and infrastructure development, are further boosting the demand for alumina in these sectors.
Global Alumina Market by application, 2023 (%)
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Global Alumina Market Regional Insights
Asia-Pacific dominates the alumina market in terms of both production and consumption. Countries like China and India are major contributors to the region's dominance due to their rapidly expanding industrial and manufacturing sectors. China, in particular, is a significant player in alumina production and consumption, driven by its booming construction and automotive industries. The abundant availability of raw materials, coupled with a growing demand for lightweight materials in various applications, further boosts the alumina market in the Asia-Pacific region.
The Middle East and Africa (MEA) region is expected to witness the fastest growth in the alumina market. This growth is attributed to the increasing investments in infrastructural development and the establishment of new manufacturing facilities in countries like the United Arab Emirates, Saudi Arabia, and Egypt. The rising demand for alumina in applications such as ceramics, refractories, and abrasives is driving the market's expansion in this region. Additionally, the growing automotive and construction industries in MEA are further contributing to the increasing consumption of alumina in the region.
Global Alumina Market by region, 2024-2031
- Largest
- Fastest
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Global Alumina Market Dynamics
Alumina Market Drivers
High Demand from Various Industries to Bolster Demand
- The global alumina market is expected to witness significant growth by 2030, driven by the increasing use of alumina in the defense and healthcare sectors. Alumina offers several advantages, including its lightweight nature and high strength, making it an ideal material for producing effective chest armor, such as breastplates used by the military, as well as armor for aircraft and vehicles. Moreover, alumina is widely utilized in the production of ballistics and bullet proof glass.
Alumina Market Restraints
High Cost and Environmental Concerns
- The production of alumina involves complex processes and requires significant energy consumption. High production costs can impact the overall profitability of alumina manufacturers and limit the market's growth.
- The production of alumina from bauxite ore can lead to environmental issues, including habitat destruction, deforestation, and water pollution. Strict environmental regulations and concerns about sustainability may restrict the expansion of the alumina market.
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Global Alumina Market Competitive Landscape
These companies are actively engaged in strategic initiatives such as mergers and acquisitions, collaborations, and capacity expansions to strengthen their market position and meet the growing demand for alumina. Key players in the market are focusing on technological advancements to improve alumina production processes, enhance product quality, and reduce production costs. Additionally, they are investing in research and development to explore new applications of alumina in various industries. Geographical expansion is another strategy adopted by companies to tap into emerging markets with increasing demand for alumina. Asia-Pacific, especially China, remains a significant region for alumina production and consumption, attracting considerable investments from key players. Overall, the alumina market is characterized by intense competition, continuous innovation, and efforts to meet the evolving needs of end-users in sectors like defense, medical, ceramics, and more. The competitive landscape is expected to remain dynamic, with companies striving to maintain their market share through product differentiation and market expansion initiatives.
Alumina Market Top Player’s Company Profiles
- Rio Tinto (Australia/United Kingdom)
- Alcoa Corporation (United States)
- Aluminum Corporation of China Limited (CHALCO) (China)
- Norsk Hydro ASA (Norway)
- Rusal (Russia)
- Hindalco Industries Limited (India)
- Emirates Global Aluminium PJSC (United Arab Emirates)
- South32 Limited (Australia)
- BHP (Australia)
- Chalco Shandong Co., Ltd. (China)
- CITIC Resources Holdings Limited (China)
- Xinfa Group Co., Ltd. (China)
- UC RUSAL (Russia)
- National Aluminium Company Limited (NALCO) (India)
- Glencore (Switzerland)
- China Hongqiao Group Limited (China)
- Aluminum Bahrain B.S.C. (Alba) (Bahrain)
- Emirates Aluminium Company Limited (EMAL) (United Arab Emirates)
- Rusal (Russia)
- United Company RUSAL Plc (Russia)
Alumina Market Recent Developments
- In November 2020, Aluminum Corporation of China Ltd. (Chalco) commenced work on the construction of a second production line for their alumina refinery located in Huasheng, China. This strategic move was intended to boost Chalco's alumina output, allowing them to better meet market demand and strengthen their market presence in the region.
Global Alumina Key Market Trends
- One of the key market trends in the alumina market is the growing demand for lightweight materials in various industries. Alumina's excellent combination of lightweight and high strength properties makes it an attractive choice for applications where weight reduction is crucial. Industries such as automotive, aerospace, and defense are increasingly adopting alumina-based components to enhance fuel efficiency, improve vehicle performance, and enhance the durability of critical parts.
- Additionally, the rising focus on sustainable and eco-friendly materials is driving the demand for alumina in non-aluminum production applications. Alumina's recyclability and eco-friendly nature are appealing to industries looking to reduce their environmental footprint and meet stringent regulations. Furthermore, technological advancements and innovations in alumina production processes are leading to increased efficiency and cost-effectiveness, further driving the market's growth. These trends are expected to continue shaping the alumina market as industries seek advanced materials to meet their evolving needs and contribute to a more sustainable future.
Global Alumina Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the alumina market is expected to witness significant growth in the future due to increasing demand from various industries such as automotive, aerospace, defense, and healthcare. The rising use of alumina in lightweight armor and ballistic applications for military and defense purposes is projected to drive market expansion. Additionally, the growing adoption of alumina in medical devices and equipment is expected to contribute to market growth. Furthermore, the surge in government investments in defense and infrastructure projects, particularly in emerging economies, is likely to fuel the demand for alumina in the coming years. However, challenges related to fluctuating raw material costs and environmental regulations may pose constraints to the market's growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 43.0 billion |
| Market size value in 2031 | USD 71.97 billion |
| Growth Rate | 5.89% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Alumina Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Alumina Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Alumina Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Alumina Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Alumina Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Alumina Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Alumina Market Report Snapshots
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