Dublin, April 17, 2024 (GLOBE NEWSWIRE) -- The "Alumina - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
Recent insights into the alumina industry reveal a trajectory of growth for the global alumina market. Current valuations place the market at US$45.7 Billion as of the year 2023. Forecasts for the industry show an optimistic outlook, with expectations of growth to a revised size of US$61.1 Billion by 2030. This represents a steady Compound Annual Growth Rate (CAGR) of 3.7% over the seven-year analysis period.
Segment Spotlight
The Alumina Smelter segment is positioned for a robust growth course within the overall market. Analysts project this segment will experience a 3.8% CAGR, culminating in a US$52.7 Billion valuation by the end of the analysis period in 2030. The Chemical segment is not far behind, with anticipated growth at an estimated 2.7% CAGR across the next eight years.
Geographic Market Dynamics
The United States alumina market is robust, valued at US$12.4 Billion in 2023. In parallel, China - as the world's second-largest economy - is on course for a significant upward trajectory. Expectations suggest China's market will grow at a laudable 6.2% CAGR from 2023 to 2030, potentially reaching US$12.8 Billion. Other regions including Japan and Canada are also projected to experience substantial growth at 1.9% and 3.1% CAGR respectively within the same period. Europe's growth is forecasted with Germany expected to see approximately a 2.4% CAGR.
Report Highlights
The industry's growth is supported by comprehensive market research, offering innovative features for in-depth understanding and strategic planning. Notable highlights include access to a collaborative research platform and engagement tools designed to distill domain knowledge in an integrated manner. Additionally, a dedicated focus on peer collaboration platforms encourages a cross-enterprise exchange of strategic insights.
Clients will benefit from complimentary updates for one year, encompassing competitor coverage and market share analysis of major players in the field. Analytic tools including player market presence analysis across various geographies will aid in strategic decision-making.
Future Economic Landscape
The economic horizon of 2024 appears to be sprinkled with challenges and opportunities. Concerns of geopolitical tension, monetary policy tightening, and climate-related disasters are set against the backdrop of potential positive developments, including signs of disinflation, supply chain normalization, and energy cost volatility. Market participants are encouraged to remain agile, with a strategic focus on leveraging volatility and ensuring robust investment decisions.
The selection of competitors features 76 impressive entities, including key industry leaders like Alcoa Corporation, Alumina Limited, and Rio Tinto Alcan, Inc. These formidable players contribute significantly to the global market landscape and continue to shape the dynamics of the alumina industry.
As the global alumina market charts its course toward 2030, the outlook suggests a healthy growth period driven by innovation, strategic investments, and adaptive business strategies. Stakeholders across the value chain are assumed to be making preparations to capitalize on what appears to be a period of sustained market expansion.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 399 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $45.7 Billion |
| Forecasted Market Value (USD) by 2030 | $61.1 Billion |
| Compound Annual Growth Rate | 4.2% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Global Economic Update
- Competitive Scenario
- Alumina - Global Key Competitors Percentage Market Share in 2023 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Global Market Prospects & Outlook
- World Alumina Market by Application (2023 & 2030): Percentage Breakdown of Sales for Aluminum Production, and Non-Aluminum Production
- Increasing Popularity of Sustainable and Cost-Efficient Technologies Propel Demand for Alumina-based Products
- Challenges and Future Prospects
- Analysis by Grade
- World Alumina Market by Grade (2023 & 2030): Percentage Breakdown of Sales for Smelter, and Chemical
- Regional Analysis
- World Alumina Market: Percentage Breakdown of Sales for Developed and Developing Regions for the Years 2023 & 2030
- World Alumina Market - Geographic Regions Ranked by CAGR (Sales) for 2022-2030: China, Asia-Pacific, Latin America, Middle East, Africa, Canada, USA, Europe, and Japan
- China Alumina Market Witnesses Over-Supply Situation
- Alumina: Product Profile
- A Prelude to Bauxite: The Most Important Mineral for Producing Alumina
- Alumina: Primarily Utilized in the Production of Aluminum
- Alumina Market Segments: Applications in Various Fields
- Manufacturing Process of Alumina
- Global Production and Reserve Scenario for Bauxite and Alumina
- Recent Market Activity
- Select Global Brands
FOCUS ON SELECT PLAYERS (Total 76 Featured)
- Alcoa Corporation
- Almatis GmbH
- Alum S.A.
- Alumina Limited
- Aluminum Corporation of China Limited
- Cabot Corporation
- Glencore plc
- Hindalco Industries Limited
- National Aluminum Company Ltd.
- Nippon Light Metal Co. Ltd.
- Norsk Hydro ASA
- Queensland Alumina Limited (QAL)
- Rio Tinto Alcan, Inc.
- Sasol Ltd.
- South32 Limited
- United Company RUSAL
MARKET TRENDS & DRIVERS
- Current Trends in Alumina Market
- Aluminum Production: A Major Growth Driver for Alumina
- End-Use Applications of Aluminum Products
- Brief Overview of Aluminum - The Major End-User
- Automotive Sector Remains Key Driver for Aluminum Usage
- Rising Alumina Demand from Automotive Sector Bodes Well for Market Growth
- Shift towards Lightweight Vehicles Bodes Well for Alumina Market
- Increasing Penetration of EVs to Bolster Aluminum Demand
- Rising Demand for Electric Vehicles Drive the Market for Aluminum and Alumina Market
- World Electric Vehicles (EVs) Annual Sales in Thousand Units for Years 2020, 2022, 2024, and 2026
- Record Production and Backlog Bode Well for Aluminum in the Aerospace Market
- A Recovering Commercial Aviation Industry Brightens the Outlook for Aluminum Market
- Number of Scheduled Passengers Boarded by Airlines Worldwide industry (In Million) for Years 2018 Through 2023
- Packaging and Containers: A Key End-User of Aluminum
- Building and Construction Sector to Drive Growth
- Refractories & Abrasives: Major Segments of Non-Metallurgical Market
- Global Abrasive Products Market by End-use Applications (2023): Percentage Breakdown of Value Sales for Metal Working, Machinery, Construction, Electronics & Electrical, Automotive, and Others
- Alumina Finds Increasing Usage in Non-Metallurgical Applications
- Alumina Hollow Ball Offers Various Benefits
- Aluminum Oxide Highly Suitable for Abrasive Blasting
- Alumina Trihydrate's Usage in Flame Retardants and in Medicines to Drive Growth in the Market
- Multiple Usage of Activated Alumina to Propel Market Growth
- The Rise in Activated Alumina Demand from Oil & Gas Sector
- Activated Alumina Suitable for Purification of Lithium and Remediation Applications
- Calcined Alumina Finds Usage in Refractories, Abrasives, and Ceramic Industries
- White Fused Alumina: Key to Few Refractory Applications
- HiPurA Technology of ChemX Advantageous for Battery Supply Chain
- Alumina Pricing Trends
- Sanctions on Russia Expected to Benefit China in the Short Term
For more information about this report visit https://www.researchandmarkets.com/r/rw14t7
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