Global Alumina Market Set to Experience 1.5x Growth, Reaching USD 102.5 Billion by 2030

The global alumina market is on a robust growth trajectory, envisaged to expand 1.5 times its valuation from 2022, striking USD 102.5 billion by 2030, as per the latest market insights. This remarkable growth, steered by a modest CAGR of 3.7% from 2023 to 2030, is propelled by the escalating demands in the low-carbon economy and burgeoning developments in the primary aluminum industry.

Read More:


Being the pivotal raw material in aluminum production, alumina’s applications are manifold, ranging from refractories, ceramics, to high-value special alumina. The sector promises to be a cornerstone in a greener economy, driven significantly by smelter grade alumina, which accounted for over 90% of the demand in 2022.

Market Dynamics

  • Dominance of Smelter Grade Alumina: Smelter grade alumina, a prime component in aluminum production, spearheads the market with over 90% demand share, aspiring to flourish at a CAGR of 2.9% from 2023 to 2030.

  • China's Leadership: In 2022, China led the global production scene with a lion’s share of over 50% of the 140 million tons produced globally.

  • European Market: Despite geopolitical unrest, Russia held a considerable share in European alumina production, responsible for over 40% in 2022.

Challenges and Opportunities Ahead

While the market navigates through challenges including volatile prices and geopolitical tensions, particularly the Russia-Ukraine conflict affecting European production, it also unveils prolific growth avenues.

Investment Spur in India and Indonesia

The recent times saw a surge in investments in the aluminum value chain, with substantial initiatives in India and Southeast Asia. Adani Group's unveiling of a USD 5 billion investment proposal for a new alumina refinery in India stands testament to this growth trajectory.

Pioneering Sustainability

Companies including Aluminium Corporation of China Limited and Alcoa are advancing towards sustainable operations, with a committed focus on reducing greenhouse gas emissions and promoting circular economy principles in production processes.

Future Insights

  • Rising Aluminum Demand: The global aluminum market, which was valued at USD 245.7 billion in 2021, foresees a steep ascent, targeting USD 498.5 billion by 2030.

  • Escalating Prices: Amid the rising energy costs and supply disruptions, alumina prices are projected to remain high in the upcoming years, with an average of USD 480 per ton noted in 2022.

Our Trending Blogs:

Fairfield Market Research

London, UK

UK +44 (0)20 30025888  

USA (Toll-free) +1 (844) 3829746

Views: 4


You need to be a member of Personal Mechatronics Lab to add comments!

Join Personal Mechatronics Lab

© 2023   Created by PML.   Powered by

Badges  |  Report an Issue  |  Terms of Service