Alumina Market

The global alumina market that was valued at US$69.8 Bn in 2022 is estimated to be valued at US$102.5 Bn by the end of 2030.

Stable demand for primary aluminum on account of the increasing need for lightweight materials in automotive and transportation sectors is the key growth driving factor for the market, especially for the smelter grade alumina.

Aluminum content in passenger vehicles is expected to grow especially in the US, and across Europe, with increasing demand for body closures, chassis applications, as well as from the new energy vehicles. Alumina continues exceptional growth in the automotive sector in the US, and European nations.

In 2022, Asia Pacific held the highest market share of over 60% and is all set to display the highest revenue generation potential through 2030-end. Huge investments in aluminum value chain, especially in India, and some of the southeast Asian countries will boost the demand for alumina in the region.

China-based players have a strong grip on the global alumina market owing to the strong domestic demand. Companies such as Chalco, China Hongqiao Group, and Xinfa are among the largest producers of alumina in China. Alcoa, Rio Tinto Alcan, South32, Rusal, and Alumina Limited are amongst the largest alumina suppliers outside China.