Global Aluminum Market Overview 2021

Aluminum Market Size

In 2020, the global aluminum market decreased by -X% to $X, falling for the second consecutive year after two years of growth. In general, the total consumption indicated a slight increase from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, consumption decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Global consumption peaked at $X in 2018; however, from 2019 to 2020, consumption stood at a somewhat lower figure.

Aluminum Production

In value terms, aluminum production stood at $X in 2020 estimated in export prices. Overall, the total production indicated a tangible expansion from 2007 to 2020: its value increased at an average annual rate of +X% over the last thirteen-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, production decreased by -X% against 2018 indices. The pace of growth was the most pronounced in 2010 when the production volume increased by X% against the previous year. Over the period under review, global production reached the peak level at $X in 2018; however, from 2019 to 2020, production failed to regain the momentum.

Production By Country

The country with the largest volume of aluminum production was China (X tonnes), accounting for X% of total volume. Moreover, aluminum production in China exceeded the figures recorded by the second-largest producer, Russia (X tonnes), tenfold. The third position in this ranking was occupied by India (X tonnes), with a X% share.

From 2007 to 2020, the average annual growth rate of volume in China stood at +X%. In the other countries, the average annual rates were as follows: Russia (-X% per year) and India (+X% per year).

Aluminum Exports

Exports

In 2020, the amount of aluminum exported worldwide expanded modestly to X tonnes, surging by X% compared with the previous year. The total export volume increased at an average annual rate of +X% from 2007 to 2020; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Over the period under review, global exports hit record highs in 2020 and are likely to see gradual growth in the immediate term.

In value terms, aluminum exports contracted modestly to $X in 2020. Overall, exports recorded a slight contraction. The pace of growth was the most pronounced in 2010 with an increase of X% year-to-year. Global exports peaked at $X in 2018; however, from 2019 to 2020, exports remained at a lower figure.

Exports by Country

The biggest shipments were from Russia (X tonnes), Canada (X tonnes), the United Arab Emirates (X tonnes), India (X tonnes), Malaysia (X tonnes), Australia (X tonnes), Norway (X tonnes), Bahrain (X tonnes), Iceland (X tonnes), the Netherlands (X tonnes), South Africa (X tonnes) and Mozambique (X tonnes), together amounting to X% of total export. Germany (X tonnes) took a relatively small share of total exports.

From 2007 to 2020, the biggest increases were in Malaysia, while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Russia ($X), Canada ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of exports in 2020, with a combined X% share of global exports. These countries were followed by India, Malaysia, Norway, Australia, Bahrain, the Netherlands, Iceland, South Africa, Germany and Mozambique, which together accounted for a further X the main exporting countries, Bahrain recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

The average aluminum export price stood at $X per tonne in 2020, falling by -X% against the previous year. In general, the export price recorded a pronounced setback. The pace of growth appeared the most rapid in 2010 an increase of X% against the previous year. Global export price peaked at $X per tonne in 2008; however, from 2009 to 2020, export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2020, major exporting countries recorded the following prices: in Norway ($X per tonne) and Germany ($X per tonne), while Malaysia ($X per tonne) and South Africa ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Bahrain, while the other global leaders experienced a decline in the export price figures.

Aluminum Imports

Imports

In 2020, after two years of decline, there was growth in supplies from abroad of aluminum, when their volume increased by X% to X tonnes. The total import volume increased at an average annual rate of +X% from 2007 to 2020; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2010 with an increase of X% against the previous year. Global imports peaked at X tonnes in 2017; however, from 2018 to 2020, imports remained at a lower figure.

In value terms, aluminum imports declined to $X in 2020. In general, imports recorded a mild decline. The most prominent rate of growth was recorded in 2010 when imports increased by X% year-to-year. Over the period under review, global imports attained the maximum at $X in 2018; however, from 2019 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, the U.S. (X tonnes), followed by China (X tonnes), Japan (X tonnes), Germany (X tonnes), Malaysia (X tonnes), South Korea (X tonnes) and Turkey (X tonnes) represented the key importers of aluminum, together mixing up X% of total imports. The following importers - Italy (X tonnes), the Netherlands (X tonnes), Poland (X tonnes), Spain (X tonnes), Taiwan (Chinese) (X tonnes) and Thailand (X tonnes) - together made up X% of total imports.

From 2007 to 2020, the biggest increases were in China, while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Germany ($X) and China ($X) constituted the countries with the highest levels of imports in 2020, together comprising X% of global imports.

Among the main importing countries, China saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average aluminum import price amounted to $X per tonne, with a decrease of -X% against the previous year. In general, the import price continues to indicate a perceptible setback. The most prominent rate of growth was recorded in 2010 when the average import price increased by X% y-o-y. Global import price peaked at $X per tonne in 2007; however, from 2008 to 2020, import prices failed to regain the momentum.

Average prices varied noticeably amongst the major importing countries. In 2020, major importing countries recorded the following prices: in the U.S. ($X per tonne) and Germany ($X per tonne), while China ($X per tonne) and Japan ($X per tonne) were amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by Turkey, while the other global leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for aluminum in the world?

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China (37M tonnes) constituted the country with the largest volume of aluminum consumption, comprising approx. 58% of total volume. Moreover, aluminum consumption in China exceeded the figures recorded by the second-largest consumer, the U.S. (4.1M tonnes), ninefold. The third position in this ranking was occupied by Japan (2M tonnes), with a 3.2% share.

What are the largest producers of aluminum in the world?

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China (37M tonnes) remains the largest aluminum producing country worldwide, accounting for 57% of total volume. Moreover, aluminum production in China exceeded the figures recorded by the second-largest producer, Russia (3.6M tonnes), tenfold. The third position in this ranking was occupied by India (3.6M tonnes), with a 5.4% share.

What are the leading suppliers of aluminum in the world?

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In value terms, Russia ($5.5B), Canada ($5.5B) and the United Arab Emirates ($4.3B) were the countries with the highest levels of exports in 2020, with a combined 33% share of global exports. India, Malaysia, Norway, Australia, Bahrain, the Netherlands, Iceland, South Africa, Germany and Mozambique lagged somewhat behind, together comprising a further 40%.

What are the leading importers of aluminum in the world?

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In value terms, the largest aluminum importing markets worldwide were the U.S. ($7B), Germany ($3.8B) and China ($3.8B), with a combined 31% share of global imports.

What is the average export price for aluminum in the world?

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The average aluminum export price stood at $1,869 per tonne in 2020, declining by -6.4% against the previous year.

What is the average import price for aluminum in the world?

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The average aluminum import price stood at $1,877 per tonne in 2020, reducing by -7.8% against the previous year.