Asia Pacific Aluminum Market: By Product (Flat Rolled, Pigment & Powder, Forgings, Extrusions, Castings, Rod & Bar and Others), Type (Secondary/Recycled Aluminum and Primary Aluminum), Application (Building & Construction, Consumer Goods, Electrical, Foil & Packaging, Hardware & Accessories, Machinery & Equipment, Solar Industry, Transportation, Utensils and Others) and Geography  

Asia Pacific Aluminum Market size was valued at US$ 73.5 billion in 2023 and expected to reach US$ 121.2 billion by 2030, at a CAGR of 7.3% from 2024-2030. Some of the key factors responsible for the market growth include rise in Asia Pacific economic growth rate, continuous advancements in transport industry, ongoing R&D activities to develop innovative and growing automobile industry. Moreover, an increase in net aluminum pounds per vehicle is one of the major trends being witnessed in this market. The easy accessibility of numerous alternatives for aluminum is one major challenge challenging the Asia Pacific market. Some of the few materials that can substitute aluminum in the packaging industry are plastic, glass and paper. These substitutes are extensively used in the transportation, construction, packaging and electrical and electronic industries among others. Hence, presence of substitutes may pose a threat to the market growth. Asia Pacific aluminum market is surging owing to frequent acquisitions and launchings by the market players. For instance, Alcoa together with Rio Tinto announced world’s first carbon-free aluminum smelting process.  This is a revolutionary smelting process that can deliver a significant reduction in carbon emissions. It builds on the key role aluminium has to play in driving human progress, by making products infinitely recyclable, stronger, lighter and more fuel efficient.