India Aluminium Market (2024-2030) Outlook | Forecast, Analysis, Trends, Companies, Size, Value, Share, Revenue, Growth & Industry

Topics Covered in the India Aluminium Market

India Aluminium Market report thoroughly covers the market by end-use. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

India Aluminium Market Synopsis

India Aluminium Market is estimated to gain traction in the coming years on the back of the rising setup of the industrial landscape such as manufacturing, automotive, and renewable industries in the country have increased aluminum use. Additionally, India is the fastest developing economy across the globe leading to high construction activities and infrastructure development, this growth is surging the aluminum demand and contributing to the market growth at a massive rate. There are numerous properties that drive the aluminum demand over other constructive materials such as lightweight, corrosion-resistant, and recyclable properties. These properties make it a highly versatile material to be applied widely across various sectors. 

According to 6Wresearch, the India Aluminium Market size is estimated to augment during the forecast period 2023-2029. The market is growing rapidly underpinned by various growing factors such as rising infrastructure development, the automotive industry, and the electrical industry. Additionally, rapid urbanization is leading to increasing construction activities including, buildings, airports, and bridges. This is driving the aluminum demand at a considerable rate. Aluminium contains some properties such as recyclability and visual appeal which make it an ideal choice for packing materials like containers, foils, and cans. Also, the rising purchase of consumer goods in the country has spurred the aluminum demand to manufacture various consumer goods. This factor is estimated to burgeon the India Aluminium Market growth in the coming years. The renewable sector is also creating a high demand for aluminum, especially, in solar panels and wind turbine components, this opens the growth corridors for the market.

Drivers of the India Aluminum Market

The rising automotive sector growth is one of the top aspects that drives the aluminum demand due to its lightweight nature. Also, this improves efficiency and decreases carbon emissions. The electrical sector is another industry securing a high aluminium demand owing to its lightweight nature proven efficient during the power transmission and distribution systems. The rising focus on sustainability and environmental responsibility lead to an increased interest in aluminum recycling. This has increased its use and has further created a favorable impact on the growth of the India Aluminum industry.

Ongoing Trends & Opportunities in the India Aluminum Market

The below mentioned are some ongoing latest trends and opportunities shaping the market growth at a tremendous rate.

• The aluminum industry is rapidly using green and sustainable practices, like recycling, energy-efficient production techniques, and GHG reduction. Consumers and industries are indulging more in eco-friendly products, which is leaving a positive impact on product use.
• The automotive industry focuses on manufacturing lightweight vehicles to improve fuel consumption and lower GHG emission, which drives the aluminum demand.
• The rising Aluminum production with the growing aluminum demand, is creating employment opportunities in rural areas, leading to market growth.
• The growth of electric vehicles in the country has generated a major opportunity for the aluminum industry. As the use of aluminum increases while vehicle manufacturing.

Government Policies & Schemes Introduced in the India Aluminum Market

The India Aluminum Market is anticipated to gain momentum in the country backed by the introduction of some government favorable policies. One of the significant policies is the "Make in India" campaign that encourages domestic manufacturing leads to impact favorably the market growth. National Aluminium Policy (NAP) is another government program introduced to increase aluminum production through investing in aluminum projects. As per National Electricity Plan, the government aims to provide electricity access and affordability, especially in rural areas, this plan has boosted aluminum use with the increase of the energy-intensive aluminum industry. Renewable energy policies promoting renewable energy sources can impact the aluminum industry by impacting the cost of clean energy for energy-intensive processes. The government might have offered some specific incentives for the aluminum sector to encourage investment and innovation.

Challenges of the India Aluminum Market

India Aluminum Market is facing certain challenges that are impacting the market growth and development are mentioned below:

• Limited availability of raw materials due to the limited domestic stock, especially bauxite which is the primary raw material used to manufacture aluminium.
• Inadequate Infrastructure and Logistics: limited infrastructure, including transportation and port facilities, can affect the supply chain and lead to a slowdown in the manufacturing process.
• Energy Costs and Supply: Energy is a prominent cost factor in aluminum production. Fluctuations in energy prices and supply interruptions can affect the competitiveness of the market.

Covid-19 Impact on the India Aluminum Market

COVID-19 had a huge influence on the India Aluminum Market which is a part of the Asia Pacific Aluminium Market. The pandemic caused a major interruption in the raw material supply chain that led to delays in the manufacturing process. Strict lockdown imposed by the government had affected the industries including, construction, automotive, aerospace, and manufacturing which caused demand disruption, as a result, a major decline seen in the market shares & revenues.  In addition to this, uncertainties during the pandemic were seen, resulting in price volatility that affected the profitability of both aluminum producers and manufacturers.

Key Players of the India Aluminum Market

India Aluminum Market has a competitive landscape in the country with the presence of numerous companies offering premium ranges of products. Some of the are mentioned below:

• Hindalco Industries Limited is a leading player in the country, which are engaged in producing high-quality aluminium and copper.
• Vedanta Limited is also one of the key players involved in the aluminum industry. They run operates alumina refineries and smelters in India.
• National Aluminium Company Limited (NALCO) is a well-known player in the country that produces high-quality aluminum. It is known for sustainability and caters to various industries.
• Balco (Bharat Aluminium Company Limited) is a prominent aluminum producer in India. It runs aluminum smelters and power plants efficiently, which involves primary aluminum production and energy generation.

Market Analysis by End Use

According to Nitesh Kumar, Research Manager, 6Wresearch, all segments are generating a high demand for aluminum, nevertheless, the construction sector is the one dominating India Aluminum market share underpinned by the rising infrastructure development, rapid urbanization, and increasing investment in energy-efficient buildings in the country. 

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Aluminium Market Outlook
• Market Size of India Aluminium Market, 2022
• Forecast of India Aluminium Market, 2029
• Historical Data and Forecast of India Aluminium Revenues & Volume for the Period 2019 - 2029
• India Aluminium Market Trend Evolution
• India Aluminium Market Drivers and Challenges
• India Aluminium Price Trends
• India Aluminium Porter's Five Forces
• India Aluminium Industry Life Cycle
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By End-Use for the Period 2019 - 2029
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By Construction for the Period 2019 - 2029
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By Transportation for the Period 2019 - 2029
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By Packaging for the Period 2019 - 2029
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By Electrical for the Period 2019 - 2029
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By Consumer Durables for the Period 2019 - 2029
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By Machinery & Equipment for the Period 2019 - 2029
• Historical Data and Forecast of India Aluminium Market Revenues & Volume By Others for the Period 2019 - 2029
• India Aluminium Import Export Trade Statistics
• Market Opportunity Assessment By End-Use
• India Aluminium Top Companies Market Share
• India Aluminium Competitive Benchmarking By Technical and Operational Parameters
• India Aluminium Company Profiles
• India Aluminium Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By End-Use

• Construction
• Transportation
• Packaging
• Electrical
• Consumer Durables
• Machinery & Equipment
• Others