The global aluminium market is projected to grow at an average annual rate of 6.2%, from $243.9 billion in 2024 to $393.7 billion in 2032. These forecasts come from the analytical firm Fortune Business Insights. Demand for aluminium is driven by construction, transport, energy, and electronics.
Construction stands out in particular: it is expected to show the fastest growth in aluminium use by 2032. This is due to the increasing volume of construction work and the growing popularity of aluminium structures. The metal is used for façades, curtain wall systems, interior finishes, and profile systems.
In 2023, the market size in the Asia-Pacific region reached $147.63 billion, accounting for the largest share globally. Rapid urbanisation and infrastructure development, especially in countries such as China and India, are driving increased use of aluminium in construction.
In the European market, the main driver remains the automotive industry. Manufacturers are increasingly replacing heavier materials with aluminium to reduce vehicle weight, cut fuel consumption, and lower CO₂ emissions. This trend is being reinforced by the shift towards electric vehicles. At the same time, Europe is also seeing growing use of aluminium in packaging and solar panel production.
Secondary aluminium is also widely used, as recycling it requires up to 95% less energy than producing it from ore, making it an attractive material from a sustainability perspective.
According to analysts, further growth will be supported by demand from the renewable energy sector — particularly for solar panels and wind turbines. The market is also being stimulated by new areas of application, including aluminium-ion battery production and the expansion of 3D printing in industry.
Among the limiting factors, experts point to stricter environmental regulations. Companies involved in bauxite mining and aluminium production are being forced to invest more in meeting standards, especially in emission control and responsible resource use. This could affect growth rates in some regions.
Illustrative photo: James Day on Unsplash
According to Fortune Business Insights, the global aluminium market was valued at $159.32 billion in 2021, $229.85 billion in 2023, and is projected to reach $393.70 billion in 2024
Global aluminium market to grow by 6.2% annually until 2032, with construction playing a key role
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