Alumina Market Analysis

Alumina Market Analysis

The smelter grade alumina segment accounted for more than 85% market share in 2020 and is likely to grow at a considerable rate up to 2027. The growth of this segment is attributed to the rising demand for aluminum from the end-use industries. The rise of the automotive industry in the emerging economies will augment the demand for high-quality aluminum for making interior and exterior body panels, engine components, etc., proliferating the alumina market trends over the study timeframe.
 

Aluminum production from alumina will capture a considerable market share over the years and will generate more than USD 47 billion at the end of 2027 owing to the stable demand for high-quality aluminum materials from Asia Pacific and North America regions due to the growing applications in end-use industries. The widespread application of aluminum components in the automotive industry for exterior and interior parts will propel the alumina market share. Modern commercial aircraft consist of 80% aluminum by weight. In addition, rapid growth of the infrastructure industry in emerging countries will proliferate aluminum consumption.
 

The Asia Pacific region is estimated to account for more than USD 38 billion by 2027, exhibiting excellent growth between 2021 and 2027. Countries, such as China, India, Japan, Malaysia, and South Korea, are consistently promoting electric vehicles in the recent years. China is producing more than half of global primary aluminum owing to its favorable government policies and central planning. Moreover, many countries are focusing on the wastewater treatment industry to mitigate water scarcity, further contributing to the overall alumina market revenue.