Aluminum Industry Worldwide - Statistics & Facts

Aluminum is one of the world’s most abundant metals, typically extracted from bauxite ore. Guinea, Australia, and Vietnam are cited as hosting the largest bauxite reserves, while China is leading the way in terms of aluminum smelter production levels. Hongqiao Group, Chalco, Shandong Xinfa, Rusal, Alcoa, and Rio Tinto are ranked among the largest aluminum producers worldwide.

The balance of supply and demand

In terms of demand, the key aluminum markets include China, the United States, Germany, India, and Japan. The major end-users of the base metal include the following sectors are transportation and construction. Together, these two sectors make up almost half the market. Aluminum prices have been rather volatile over most of the past decade. Between October and December of 2016, prices were so low that many aluminum smelters had to increase their levels of idle production capacities. China's slowing economy lowered the price again in 2019. This, paired with the country’s track record of excess-capacity and over-production, contribute to its maintained leadership over the production market. The growing volume of recycled aluminum may help reduce the imbalance of supply and demand in the aluminum industry. In 2019, China was also in the lead for recycled aluminum production, reaching over 11,000 metric kilotons and dwarfing all other territories.

The impact of the pandemic

The global coronavirus pandemic in 2020 disrupted trading in metals and metal products, including aluminum. Demand for aluminum dropped as countries imposed strict lockdown measures to curb the spread of the virus. The health crisis was felt throughout the aluminum industry, with Chalco’s revenue dropping by close to five billion yuan in 2020. That same year, Rusal, the third leading primary aluminum producing company, recorded a steeper drop of over 11 percent of its 2019 revenue. Recovery is however underway, with projections for the size of the global aluminum market forecasting it to reach some 210 billion U.S. dollars by 2027. Due in parts to improvements in the fourth quarter of the year, global imports and exports of alumina in 2020 surpassed 2019’s volumes, reaching over 25,700 and 37,900 metric kilotons respectively.
This text provides general information. Statista assumes no liability for the information given being complete or correct. Due to varying update cycles, statistics can display more up-to-date data than referenced in the text.
Published by Statista Research Department, Mar 20, 2023

Key insights

U.S. aluminum exports
3.1m mt
Average U.S market spot price of aluminum ingots
1.50 USD/lb
Estimated U.S. employees in the aluminum industry
28k
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Countries with the largest smelter production of aluminum in 2022 (in 1,000 metric tons)

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Average market spot price of aluminum ingots in the United States from 2011 to 2022 (in U.S. dollar cents per pound)

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