Global Green Aluminum Market Research Report: Forecast (2024-2030)
Green Aluminum Market Report - By Method (Renewable Electricity, Recycled Aluminum), By End Users (Automotive, Construction, Electronics) and Others... Read more
- Energy
- May 2024
- 183
- PDF, Excel, PPT
Market Definition
The carbon emissions generated by less than 4 tons per ton of Aluminum during the production process are termed low-carbon Aluminum or green Aluminum. The major two methods adopted by the original equipment manufacturers (OEMs) across the globe have been either recycling scrap and extracting Aluminum or the use of renewable electricity throughout the smelting process of Aluminum.
Market Insights & Analysis: Global Green Aluminum Market (2024-30):
The Global Green Aluminum Market size is estimated to grow at a CAGR of around 37.85% during the forecast period, i.e., 2024-30. The market growth is attributed to soaring direct carbon emissions from the production of aluminum globally and the initiatives to curb them. As per the International Energy Agency, in 2022, nearly 270 million tons of direct carbon emissions were recorded from the aluminum production industry, which translates to about 3% of the world’s direct industrial carbon emissions. This indicates the crucial need for decarbonizing the aluminum industry at the fastest pace possible.
Report Coverage | Details |
---|---|
Study Period | Historical Data: 2019-22 |
Base Year: 2023 | |
Forecast Period: 2024-30 | |
CAGR (2024-2030) | 37.85% |
Regions Covered | North America |
Europe | |
Asia-Pacific | |
Rest of the World | |
Key Companies Profiled | Norsk Hydro, Rusal, Emirates Global Aluminium, Centuary Aluminum, Vedanta Aluminium, EN+ Group, China Hongqiao Group Limited, Alcoa Corporation, Capral Limited, Constellium, Reynaers Aluminium, Granges, Nanshan America, Rio Tinto, CBA, South32, PT Indonesia Asahan Aluminium, Novelis, Hammerer Aluminium Industries, Other |
Unit Denominations | USD Million/Billion |
Moreover, since the market in the current period is still in its infancy stage, the major development in the market is the feasibility of producing green aluminum. Nonetheless, the aluminum companies, along with the support of governments, are conducting research & development for the enhancement of the low-carbon aluminum production process. Additionally, the important characteristics of aluminum, such as being lightweight, ductile, easy to fabricate, superior strength, infinite recyclability, etc., make it useful in numerous industries as a critical raw material. It is also the most used metal, after steel, around the world.
Hence, the inclination of the original equipment manufacturers (OEMs) across the globe to clean & decarbonize their overall supply chain has been pushing the aluminum manufacturers to develop technologies and methods that would produce low-carbon aluminum, which is estimated to augment the size & volume of the Global Green Aluminum Market during the forecast period.
Global Green Aluminum Market Driver:
Surging Government Initiatives to Curb Carbon Emissions – To reverse the ill effects of climate change caused by fueling carbon emissions from various industries such as transportation, manufacturing, construction, etc., the national governments around the world have not only been encouraging the establishment of green aluminum production but also the adoption of green products by organizations. Countries like the US, India, the UAE, and a few others have been providing lucrative deals & options to both manufacturers and consumers to blend and further integrate green methods into their operations. For Instance:
- In 2024, the US Department of Energy, under its Industrial Demonstration Plan, would provide about USD 6 billion to a total of 33 projects, of which one is Centuary’s Green Aluminum to build a new low-carbon emitting smelter in Ohio.
- In 2024, the UAE and Oman’s industrial and energy projects, worth approximately USD 31.8 billion, are expected to be revolutionary in the renewable energy and green metals industries.
Moreover, international collaborations among countries for sustainable development in the future are predicted to boost the growth & expansion of the Global Green Aluminum Market in the coming years.
Global Green Aluminum Market Challenge:
Huge Investments for Developing the Infrastructure to Hinder Market Growth – The pathway to transform conventional aluminum into green aluminum necessitates heavy financial support. The establishment of large renewable power plants, recycling facilities, research & development costs for formulating new technologies for the production process, etc., not only require huge investments in monetary terms but also time and skilled professionals, along with continuous government support and favorable rules and regulations. The combination of these factors creates breakthrough mechanisms to achieve the overall aim of a net-zero carbon emission economy, yet they are quite challenging. Thus, any hindrances at any point in the supply chain hamper the complete chain of operations and restrain market growth.
Global Green Aluminum Market (2024-30): Segmentation Analysis
The Global Green Aluminum Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2024–2030 at the global level. According to the analysis, the market has been further classified as:
Based on Method:
- Renewable Electricity
- Recycled Aluminum
Out of them all, renewable electricity as a method to lower carbon emissions during the production of aluminum is the most mature technique in the market. The power consumed in the total production of about one ton of molten aluminum is around 13-15 MWh (DC). Such high power consumption when generated from polluting energy sources, i.e., fossil fuels, contributes considerably to global CO2 emissions. However, this process has been made green by drastically reducing emissions through the use of renewable energy sources such as solar, wind, or hydro. For Instance,
- Emirates Global Aluminum (EGA) has reported the commencement of green aluminum production by collaborating with local electricity authorities of the UAE that provide EGA with green power.
The solar power for EGA is supplied by Dubai Electricity and Water Authority and Emirates Electricity and Water Company. Thus, the gradual development of renewable power plants across the globe would further aid in the growth & expansion of the Global Green Aluminum Market in the forthcoming years.
Based on End Users:
- Automotive
- Construction
- Electronics
- Others (Can & Packaging, Aerospace, etc.)
Among them all, the automotive sector captured a major market share. Automotive has been the frontrunner in adopting green aluminum in the market. Players like Mercedes-AMG and BMW Group have announced their collaboration with green aluminum producers to make their supply chain green. These collaborations are part of their sustainable goals in the coming period. Mercedes-AMG also signed a letter of intent (LoI) with Hydro (a Norwegian aluminum producer) that they would work together on developing low-carbon emission technologies for the production of aluminum. Whereas, since 2023, BMW has already been incorporating green aluminum in its production facilities, specifically for its electric drivetrain housings, engine components, and large-scale structural parts.
Moreover, the existence of a huge automotive sector around the globe presents a great opportunity for the Global Green Aluminum Market in the future. According to the European Automobile Manufacturer’s Association, on average, around 85 million motor vehicles are manufactured each year globally. Furthermore, the surging awareness about environmental consciousness and protection amongst globally spread automobile OEMs would propel the growth & development of the Global Green Aluminum Market during the forecast period.
Global Green Aluminum Market (2024-2030): Regional Projections:
Geographically, the Green Aluminum market expands across:
- North America
- Europe
- Asia-Pacific
- Rest of the World
Europe held a notable share of the Global Green Aluminum Market in the past period. This is due to the presence of notable industrial sectors and the awareness & willingness of the OEMs in the region to develop and integrate green or low-carbon solutions into their overall production processes. The continent has a vast presence in automotive, aerospace, food & beverage, packaging, metals, etc., industries that require heavy amounts of aluminum for their manufacturing processes. As stated by the European Commission, the manufacturing sector of Europe contributes to about 1/4th of its total GDP annually, with the presence of nearly 50% of large-scale enterprises.
In addition, European Aluminum reported the importance of decarbonizing aluminum production in the European Union’s goal of achieving an emission reduction target of almost 55% by 2030. In line with the ambitious aims of the governments and the steps taken by the OEMs, Europe is expected to maintain its major share in the Global Green Aluminum Market in the coming years as well.
Global Green Aluminum Industry Recent Development:
- 2024: Hindalco Industries, an aluminum major, reported that the first phase of its aim to reduce about 30% of emissions by 2030 is nearing completion. The company focuses on using 30% of its round-the-clock renewable energy supply.
- 2023: Vedant Aluminium supplied its first low-carbon aluminum order to Global Aluminium Pvt. Ltd.
Gain a Competitive Edge with Our Global Green Aluminum Market Report
- Global Green Aluminum Market Report by Markntel Advisors provides a detailed & thorough analysis of market size, growth rate, competitive landscape, and key players. This comprehensive analysis helps business organizations to gain a holistic understanding of market dynamics & make informed decisions.
- This report also highlights current market trends & future projections, allowing business organizations to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
- Global Green Aluminum Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, business organizations can develop strategies to minimize risks & optimize their operations.
Frequently Asked Questions
- Market Segmentation
- Introduction
- Product Definition
- Research Process
- Assumptions
- Executive Summary
- Global Aluminium Industry Outlook, 2023
- Production vs Consumption (Million Tons)
- Key End Users & their Consumption Pattern
- Major Players involved in the Production of Aluminium
- Global Aluminium to Green Aluminium Development Timeline, 2020-2050
- Global Green Aluminium Demand and Supply Analysis, 2023
- Global Green Aluminium Value Chain Analysis
- Green Aluminium Emission Reduction Technology Comparative Analysis
- By Potential Technology
- By Emission Sources
- By Cost
- By Advantages
- By Disadvantages
- Others
- Global Green Aluminium Market Standards, Regulations, and Policies
- Global Green Aluminium Market Dynamics
- Drivers
- Challenges
- Impact Analysis (Short Term, Medium Term, Long Term)
- Global Green Aluminum Market Outlook, 2024-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method
- Renewable Electricity– Market Size & Forecast 2024-2030F (Thousand Tons)
- Recycled Aluminum– Market Size & Forecast 2024-2030F (Thousand Tons)
- By End Users
- Automotive– Market Size & Forecast 2024-2030F (Thousand Tons)
- Construction– Market Size & Forecast 2024-2030F (Thousand Tons)
- Electronics– Market Size & Forecast 2024-2030F (Thousand Tons)
- Others (Cans & Packaging, Aerospace, etc.) – Market Size & Forecast 2024-2030F (Thousand Tons)
- By Source of Energy
- Solar– Market Size & Forecast 2024-2030F (Thousand Tons)
- Hydro– Market Size & Forecast 2024-2030F (Thousand Tons)
- Wind– Market Size & Forecast 2024-2030F (Thousand Tons)
- Recycled – Market Size & Forecast 2024-2030F (Thousand Tons)
- Others (Carbon Capture Storage, etc)
- By Region
- North America
- Europe
- Asia-Pacific
- Rest of the World
- By Competitors
- Competition Characteristics
- Recent Developments by Leading Players
- By Initiatives
- By Investments
- Others
- By Method
- Market Size & Analysis
- North America Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030Thousand Tons
- By End Users- Market Size & Forecast 2019-2030Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030Thousand Tons
- By Country
- The US
- Canada
- Mexico
- The US Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Canada Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- Market Size & Analysis
- Mexico Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Market Size & Analysis
- South America Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030Thousand Tons
- By End Users- Market Size & Forecast 2019-2030Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030Thousand Tons
- By Country
- Brazil
- Argentina
- Brazil Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Argentina Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- Market Size & Analysis
- Market Size & Analysis
- Europe Middle East & Africa (EMEA) Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030Thousand Tons
- By End Users- Market Size & Forecast 2019-2030Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030Thousand Tons
- By Country
- The UK
- Germany
- France
- Italy
- Spain
- Russia
- Middle East
- Africa
- Rest of EMEA
- The UK Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Germany Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- Market Size & Analysis
- France Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Italy Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Spain Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Russia Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Middle East Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Africa Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Market Size & Analysis
- Asia Pacific (APAC) Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- By Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030Thousand Tons
- By End Users- Market Size & Forecast 2019-2030Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030Thousand Tons
- By Country
- China
- India
- Japan
- South Korea
- Southeast Asia
- Rest of APAC
- China Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- India Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- Market Size & Analysis
- Japan Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- South Korea Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Southeast Asia Green Aluminum Market Outlook, 2019-2030F
- Market Size & Analysis
- Market Revenues (USD Million)
- By Volume (Thousand Tons)
- Market Share & Analysis
- By Method- Market Size & Forecast 2019-2030 Thousand Tons
- By End Users- Market Size & Forecast 2019-2030 Thousand Tons
- By Source of Energy- Market Size & Forecast 2019-2030, Thousand Tons
- Market Size & Analysis
- Market Size & Analysis
- Global Green Aluminium Market Key Strategic Imperatives for Success & Growth
- Global Green Aluminium Key Stakeholders & Competition Alignment
- Company Profiles
- Norsk Hydro
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Rusal
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Emirates Global Aluminium
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Centuary Aluminum
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Vedanta Aluminium
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- EN+ Group
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- China Hongqiao Group Limited
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Alcoa Corporation
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Capral Limited
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Constellium
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Reynaers Aluminium
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Granges
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Nanshan America
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Rio Tinto
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- CBA
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- South32
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- PT Indonesia Asahan Aluminium
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Novelis
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Hammerer Aluminium Industries
- Business Overview
- Product Portfolio
- Strategic Alliances or Partnerships
- Recent Developments
- Financial Details
- Others
- Other Potential Players (Hindalco Aluminum, Rio Tinto, etc.)
- Norsk Hydro
- Company Profiles
- Disclaimer