Asia: Aluminum Market 2024

Aluminum Market Size in Asia

For the third year in a row, the Asian aluminum market recorded growth in sales value, which increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Aluminum Production in Asia

In value terms, aluminum production contracted modestly to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

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Aluminum Exports

Exports in Asia

In 2022, after six years of growth, there was decline in overseas shipments of aluminum and alloys, when their volume decreased by X% to X tons. Over the period under review, exports, however, continue to indicate a buoyant increase. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports attained the peak of X tons, leveling off in the following year.

In value terms, aluminum exports expanded sharply to $X in 2022. Overall, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

In 2022, India (X tons), the United Arab Emirates (X tons), Malaysia (X tons) and Bahrain (X tons) represented the major exporter of aluminum and alloys in Asia, comprising X% of total export. The following exporters - China (X tons), Saudi Arabia (X tons), South Korea (X tons), Vietnam (X tons), Kazakhstan (X tons), Turkey (X tons), Oman (X tons) and Iran (X tons) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saudi Arabia (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, India ($X), the United Arab Emirates ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Bahrain, China, South Korea, Saudi Arabia, Vietnam, Turkey, Kazakhstan, Oman and Iran lagged somewhat behind, together accounting for a further X%.

Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced more modest paces of growth.

Aluminum Imports

Imports in Asia

In 2022, after two years of growth, there was significant decline in purchases abroad of aluminum and alloys, when their volume decreased by X% to X tons. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank in the following year.

In value terms, aluminum imports expanded rapidly to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2019 indices. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X tons), China (X tons), Turkey (X tons) and South Korea (X tons) represented the major importer of aluminum and alloys in Asia, comprising X% of total import. It was distantly followed by Thailand (X tons), Taiwan (Chinese) (X tons) and Malaysia (X tons), together comprising a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest aluminum importing markets in Asia were Japan ($X), China ($X) and Turkey ($X), with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Asia stood at $X per ton in 2022, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the import price increased by X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Average prices varied noticeably amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Taiwan (Chinese) ($X per ton) and Thailand ($X per ton), while China ($X per ton) and Malaysia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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