Published Year: 2023
Low-Carbon Aluminum Market - A Global and Regional Analysis: Focus on Source of Production, Product,
The global low-carbon aluminum market is projected to reach $119.97 billion by 2031 from...
Market Research Report
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Table of Contents
1.1 Industry Outlook
1.1.1 Trends: Current and Future
1.1.1.1 Increasing Investments in Low-Carbon Aluminum
1.1.1.2 Government Activities toward the Establishment of Low-carbon Infrastructure
1.1.2 Supply Chain Analysis
1.1.3 Ecosystem of Low-Carbon Aluminum Market
1.1.3.1 Consortiums and Associations
1.1.3.2 Regulatory/Certification Bodies
1.1.3.3 Government Programs
1.1.4 Impact of COVID-19 on the Low-Carbon Aluminum Market
1.2 Business Dynamics
1.2.1 Business Drivers
1.2.1.1 Increasing Attention of Governments toward Decarbonization of Core Contributing Commodities
1.2.1.2 Growing Research and Development Activities to Achieve Near Zero Emissions
1.2.2 Business Challenges
1.2.2.1 Lower Recycling Rates for Aluminum in Various Industries
1.2.2.2 Volatile Low-Carbon Aluminum Prices
1.2.3 Business Strategies
1.2.3.1 Product Developments
1.2.3.2 Market Developments
1.2.4 Corporate Strategies
1.2.4.1 Partnerships and Joint Ventures
1.2.5 Business Opportunities
1.2.5.1 Low-Carbon Aluminum in Niche Segments such as Ultra-Low-CO2 Grades
1.2.5.2 Climate Mitigation Initiatives to Increase Demand for Sustainably Sourced Aluminum
1.3 Start-Up Landscape
1.3.1 Key Start-Ups in the Ecosystem
2.1 China
2.1.1 Market
2.1.1.1 Buyer Attributes
2.1.1.2 Key Producers and Suppliers in China
2.1.1.3 Regulatory Landscape
2.1.1.4 Business Drivers
2.1.1.5 Business Challenges
2.1.2 Applications
2.1.2.1 China Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.1.3 Products
2.1.3.1 China Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.1.3.2 China Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2 Asia-Pacific and Japan
2.2.1 Markets
2.2.1.1 Key Producers and Suppliers in Asia-Pacific and Japan
2.2.1.2 Business Drivers
2.2.1.3 Business Challenges
2.2.2 Applications
2.2.2.1 Asia-Pacific and Japan Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.2.3 Products
2.2.3.1 Asia-Pacific and Japan Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.2.3.2 Asia-Pacific and Japan Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2.3.3 Japan
2.2.3.3.1 Markets
2.2.3.3.1.1 Buyer Attributes
2.2.3.3.1.2 Key Producers and Suppliers in Japan
2.2.3.3.1.3 Regulatory Landscape
2.2.3.3.1.4 Business Drivers
2.2.3.3.1.5 Business Challenges
2.2.3.3.2 Applications
2.2.3.3.2.1 Japan Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.2.3.3.3 Products
2.2.3.3.3.1 Japan Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.2.3.3.3.2 Japan Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2.3.4 South Korea
2.2.3.4.1 Markets
2.2.3.4.1.1 Buyer Attributes
2.2.3.4.1.2 Key Producers and Suppliers in South Korea
2.2.3.4.1.3 Regulatory Landscape
2.2.3.4.1.4 Business Drivers
2.2.3.4.1.5 Business Challenges
2.2.3.4.2 Applications
2.2.3.4.2.1 South Korea Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.2.3.4.3 Products
2.2.3.4.3.1 South Korea Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.2.3.4.3.2 South Korea Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2.3.5 India
2.2.3.5.1 Markets
2.2.3.5.1.1 Buyer Attributes
2.2.3.5.1.2 Key Producers and Suppliers in India
2.2.3.5.1.3 Regulatory Landscape
2.2.3.5.1.4 Business Drivers
2.2.3.5.1.5 Business Challenges
2.2.3.5.2 Applications
2.2.3.5.2.1 India Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.2.3.5.3 Products
2.2.3.5.3.1 India Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.2.3.5.3.2 India Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2.3.6 ASEAN
2.2.3.6.1 Markets
2.2.3.6.1.1 Buyer Attributes
2.2.3.6.1.2 Key Producers and Suppliers in ASEAN
2.2.3.6.1.3 Business Drivers
2.2.3.6.1.4 Business Challenges
2.2.3.6.2 Applications
2.2.3.6.2.1 ASEAN Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.2.3.6.3 Products
2.2.3.6.3.1 ASEAN Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.2.3.6.3.2 ASEAN Low-Carbon Aluminum Market (by Product), Volume and Value Data
2.2.3.7 Rest-of-Asia-Pacific and Japan
2.2.3.7.1 Markets
2.2.3.7.1.1 Buyer Attributes
2.2.3.7.1.2 Key Producers and Suppliers in the Rest-of-Asia-Pacific and Japan
2.2.3.7.1.3 Business Drivers
2.2.3.7.1.4 Business Challenges
2.2.3.7.2 Applications
2.2.3.7.2.1 Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by End User), Volume and Value Data
2.2.3.7.3 Products
2.2.3.7.3.1 Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by Source of Production), Volume and Value Data
2.2.3.7.3.2 Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by Product), Volume and Value Data
3.1 Competitive Benchmarking
3.1.1 Competitive Position Matrix
3.1.2 Product Matrix of Key Companies, By Source of Production
3.1.3 Market Share Analysis of Key Companies, 2021
3.2 Company Profiles
3.2.1 Vedanta Aluminum and Power
3.2.1.1 Company Overview
3.2.1.1.1 Role of Vedanta Aluminum and Power in the Low-Carbon Aluminum Market
3.2.1.1.2 Production Sites
3.2.1.1.3 Product Portfolio
3.2.1.2 Business Strategies
3.2.1.2.1 Market Developments and Product Developments
3.2.1.3 Analyst View
3.2.2 China Hongqiao Group Limited
3.2.2.1 Company Overview
3.2.2.1.1 Role of China Hongqiao Group Limited in the Low-Carbon Aluminum Market
3.2.2.1.2 Production Sites
3.2.2.1.3 Product Portfolio
3.2.2.2 Business Strategies
3.2.2.2.1 Product Developments and Market Developments
3.2.2.3 Corporate Strategies
3.2.2.3.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
3.2.2.4 R&D Analysis
3.2.2.5 Analyst View
3.2.3 Capral Limited
3.2.3.1 Company Overview
3.2.3.1.1 Role of Capral Limited in the Low-Carbon Aluminum Market
3.2.3.1.2 Production Sites
3.2.3.1.3 Product Portfolio
3.2.3.2 Business Strategies
3.2.3.2.1 Product Developments and Market Developments
3.2.3.3 Corporate Strategies
3.2.3.3.1 Partnerships, Collaborations, Agreements, Investments, and Contracts
3.2.3.4 Analyst View
3.2.4 South32
3.2.4.1 Company Overview
3.2.4.1.1 Role of South32 in the Low-Carbon Aluminum Market
3.2.4.1.2 Production Sites
3.2.4.1.3 Product Portfolio
3.2.4.2 Analyst View
3.2.5 PT Indonesia Asahan Aluminium
3.2.5.1 Company Overview
3.2.5.1.1 Role of PT Indonesia Asahan Aluminium in the Low-Carbon Aluminum Market
3.2.5.1.2 Production Sites
3.2.5.1.3 Product Portfolio
3.2.5.2 Analyst View
4.1 Primary Data Sources
4.2 BIS Data Sources
4.3 Assumptions and Limitations
Table 1: Consortiums and Associations
Table 2: Regulatory/Certification Bodies
Table 3: Key Product Developments
Table 4: Key Market Developments (2018-2021)
Table 5: Key Partnerships and Joint Ventures
Table 6: Low-Carbon Aluminum Market (by Region), Kilotons, 2021-2031
Table 7: Low-Carbon Aluminum Market (by Region), $Billion, 2021-2031
Table 8: China Low-Carbon Aluminum Market (by End User), Kilotons, 2021-2031
Table 9: China Low-Carbon Aluminum Market (by End User), $Billion, 2021-2031
Table 10: China Low-Carbon Aluminum Market (by Source of Production), Kilotons, 2021-2031
Table 11: China Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021-2031
Table 12: China Low-Carbon Aluminum Market (by Product), Kilotons, 2021-2031
Table 13: China Low-Carbon Aluminum Market (by Product), $Billion, 2021-2031
Table 14: Asia-Pacific and Japan Low-Carbon Aluminum Market (by End User), Kilotons, 2021-2031
Table 15: Asia-Pacific and Japan Low-Carbon Aluminum Market (by End User), $Billion, 2021-2031
Table 16: Asia-Pacific and Japan Low-Carbon Aluminum Market (by Source of Production), Kilotons, 2021-2031
Table 17: Asia-Pacific and Japan Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021-2031
Table 18: Asia-Pacific and Japan Low-Carbon Aluminum Market (by Product), Kilotons, 2021-2031
Table 19: Asia-Pacific and Japan Low-Carbon Aluminum Market (by Product), $Billion, 2021-2031
Table 20: Japan Low-Carbon Aluminum Market (by End User), Kilotons, 2021-2031
Table 21: Japan Low-Carbon Aluminum Market (by End User), $Billion, 2021-2031
Table 22: Japan Low-Carbon Aluminum Market (by Source of Production), Kilotons, 2021-2031
Table 23: Japan Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021-2031
Table 24: Japan Low-Carbon Aluminum Market (by Product), Kilotons, 2021-2031
Table 25: Japan Low-Carbon Aluminum Market (by Product), $Billion, 2021-2031
Table 26: South Korea Low-Carbon Aluminum Market (by End User), Kilotons, 2021-2031
Table 27: South Korea Low-Carbon Aluminum Market (by End User), $Billion, 2021-2031
Table 28: South Korea Low-Carbon Aluminum Market (by Source of Production), Kilotons, 2021-2031
Table 29: South Korea Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021-2031
Table 30: South Korea Low-Carbon Aluminum Market (by Product), Kilotons, 2021-2031
Table 31: South Korea Low-Carbon Aluminum Market (by Product), $Billion, 2021-2031
Table 32: India Low-Carbon Aluminum Market (by End User), Kilotons, 2021-2031
Table 33: India Low-Carbon Aluminum Market (by End User), $Billion, 2021-2031
Table 34: India Low-Carbon Aluminum Market (by Source of Production), Kilotons, 2021-2031
Table 35: India Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021-2031
Table 36: India Low-Carbon Aluminum Market (by Product), Kilotons, 2021-2031
Table 37: India Low-Carbon Aluminum Market (by Product), $Billion, 2021-2031
Table 38: ASEAN Low-Carbon Aluminum Market (by End User), Kilotons, 2021-2031
Table 39: ASEAN Low-Carbon Aluminum Market (by End User), $Billion, 2021-2031
Table 40: ASEAN Low-Carbon Aluminum Market (by Source of Production), Kilotons, 2021-2031
Table 41: ASEAN Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021-2031
Table 42: ASEAN Low-Carbon Aluminum Market (by Product), Kilotons, 2021-2031
Table 43: ASEAN Low-Carbon Aluminum Market (by Product), $Billion, 2021-2031
Table 44: Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by End User), Kilotons, 2021-2031
Table 45: Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by End User), $Billion, 2021-2031
Table 46: Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by Source of Production), Kilotons, 2021-2031
Table 47: Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021-2031
Table 48: Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by Product), Kilotons, 2021-2031
Table 49: Rest-of-Asia-Pacific and Japan Low-Carbon Aluminum Market (by Product), $Billion, 2021-2031
Table 50: Product Matrix of Key Companies, By Source of Production
Table 51: Market Shares of Key Companies, 2021
Figure 1: Asia-Pacific Low-Carbon Aluminum Market, $Billion, 2021, 2022, and 2031
Figure 2: Asia-Pacific Low-Carbon Aluminum Market (by End User), $Billion, 2021 and 2031
Figure 3: Asia-Pacific Low-Carbon Aluminum Market (by Source of Production), $Billion, 2021 and 2031
Figure 4: Asia-Pacific Low-Carbon Aluminum Market (by Product), $Billion, 2021 and 2031
Figure 5: Low-Carbon Aluminum Market (by Region), $Billion, 2021 and 2031
Figure 6: Share of Renewable vs. Conventional Energy Sources with Private Participation in Emerging Markets and Developing Economies (EMDEs), by Projects
Figure 7: Share of Renewable vs. Conventional Energy Sources with Private Participation in Emerging Markets and Developing Economies (EMDEs), by Investment
Figure 8: Supply Chain Analysis of the Low-Carbon Aluminum Market
Figure 9: Aircraft Deliveries (by Region, Number of Aircraft), 2018-2022
Figure 10: Automotive Production Units, 2019-2021
Figure 11: Embodied Carbon (Carbon Footprint) per Kg of Primary Aluminium Ingot
Figure 12: Research Methodology
Figure 13: Top-Down and Bottom-Up Approach
Figure 14: Low-Carbon Aluminum Market: Influencing Factors
Figure 15: Assumptions and Limitations
Asia-Pacific Low-Carbon Aluminum Market Report Coverage
|
Asia-Pacific Low-Carbon Aluminum Market |
|||
|
Base Year |
2021 |
Market Size in 2022 |
$16.19 Billion |
|
Forecast Period |
2022-2031 |
Value Projection and Estimation by 2031 |
$22.46 Billion |
|
CAGR During Forecast Period |
3.7% |
|
|
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on thorough secondary research, which includes analyzing company coverage, product portfolio, market penetration, and insights gathered from primary experts.
Some prominent names established in this market are:
• Vedanta Aluminum and Power
• Capral Limited
• South32
• Indonesia Asahan Aluminium
How can this report add value to an organization?
Product/Innovation Strategy: The product segment helps the reader understand the different sources of production and products involved in the low-carbon aluminum market. The source of production segment has been segmented into solar energy, wind energy, hydro energy, recycling, carbon capture and storage (CCS), and others. The product segment has been segmented into flat-rolled, castings, extrusion, forgings, rod and bar, and others. Moreover, the study provides the reader with a detailed understanding of the low-carbon aluminum market based on end users, including transportation, building and construction, the electrical industry, consumer goods, foil and packaging, machinery and equipment, and others. The increasing adoption of low-carbon aluminum in manufacturing components in sustainable technologies is expected to fuel the growth of the market.
Growth/Marketing Strategy: The APAC low-carbon aluminum market has seen major development by key players operating in the market, such as business expansions, partnerships, collaborations, mergers and acquisitions, and joint ventures. The favored strategy for the companies has been business expansions to strengthen their position in the low-carbon aluminum market.
Competitive Strategy: Key players in the APAC low-carbon aluminum market analyzed and profiled in the study involve low-carbon aluminum producers and the overall ecosystem. Moreover, a detailed competitive benchmarking of the players operating in the low-carbon aluminum market has been done to help the reader understand how players stack against each other, presenting a clear market landscape. Additionally, comprehensive competitive strategies such as partnerships, agreements, acquisitions, and collaborations will aid the reader in understanding the untapped revenue pockets in the market.
Asia-Pacific Low-Carbon Aluminum Market Overview
The Asia-Pacific Low-Carbon Aluminum Market (excluding China) is projected to reach $22.46 billion by 2031 from $16.19 billion in 2022, growing at a CAGR of 3.7% during the forecast period 2022-2031. The growing demand for low-carbon aluminum is being driven by the rising popularity of electric vehicles, which utilize lightweight materials. Among various sectors, the automotive industry stands out for its significant efforts toward decarbonization, leading to widespread adoption of low-carbon aluminum. Government regulations further incentivize the use of low-carbon aluminum, as it aids in reducing vehicle weight, thereby enhancing fuel efficiency. Additionally, low-carbon aluminum contributes to reducing CO2 emissions, making it an environmentally friendly choice for automotive applications.
Market Introduction
The Asia-Pacific (APAC) Low-Carbon Aluminum Market is experiencing robust growth, largely driven by the increasing adoption of electric vehicles (EVs) in the region. EV manufacturers prioritize lightweight materials like low-carbon aluminum to improve vehicle efficiency and range. The automotive industry, in particular, is at the forefront of this trend, focusing on decarbonization efforts and witnessing significant uptake of low-carbon aluminum. Government initiatives and regulations aimed at reducing carbon emissions further bolster market growth by incentivizing the use of environmentally friendly materials. Moreover, the APAC region's rapid industrialization and infrastructure development contribute to the rising demand for low-carbon aluminum in construction and manufacturing sectors. With these factors in play, the APAC low-carbon aluminum market presents promising opportunities for sustainable growth and innovation across various industries.
Market Segmentation
Segmentation 1: by End User
• Transportation
• Building and Construction
• Electrical Industry
• Consumer Goods
• Foil and Packaging
• Machinery and Equipment
• Others
Segmentation 2: by Source of Production
• Solar Energy
• Wind Energy
• Hydro Energy
• Recycling
• Carbon Capture and Storage (CCS)
• Others
Segmentation 3: by Product
• Flat-Rolled
• Castings
• Extrusion
• Forgings
• Rod and Bar
• Others
Segmentation 4: by Country
• Japan
• India
• South Korea
• ASEAN
• Rest-of-Asia-Pacific and Japan
Asia-Pacific Low-Carbon Aluminum Market
Analysis and Forecast, 2022-2031
Some Faq's
Frequently Asked Questions
Ans: The Asia-Pacific Low-Carbon Aluminum Market (excluding China) is projected to reach $22.46 billion by 2031 from $16.19 billion in 2022, growing at a CAGR of 3.7% during the forecast period 2022-2031.
Ans: This report is essential for stakeholders in the aluminum industry, including manufacturers, investors, policymakers, and sustainability professionals. It provides valuable insights into the low-carbon aluminum market, enabling informed decision-making regarding investments, production strategies, regulatory compliance, and sustainability initiatives aimed at reducing carbon emissions and environmental impact.
Ans: Low-Carbon Aluminum refers to aluminum produced using processes that minimize greenhouse gas emissions and energy consumption, such as smelting methods powered by renewable energy sources or utilizing advanced electrolysis technologies. This contrasts with traditional aluminum production, which often relies on carbon-intensive processes like the Hall-Héroult process.
Ans: Low-Carbon Aluminum production significantly reduces carbon emissions compared to traditional methods, contributing to efforts to combat climate change. By utilizing renewable energy sources or implementing carbon capture and storage (CCS) technologies, low-carbon aluminum helps mitigate the environmental impact of aluminum production, which is typically energy-intensive.
Ans: The growing demand for low-carbon aluminum incentivizes manufacturers to adopt more sustainable practices throughout the supply chain. This includes sourcing raw materials responsibly, reducing energy consumption, and minimizing emissions. As consumers and businesses prioritize sustainability, low-carbon aluminum becomes a valuable component in achieving sustainability goals.
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