Saudi Arabia Aluminum Market Size
Saudi Arabia Aluminum Market size was registered at USD 1.81 billion in 2019 and is estimated to reach USD 3.8 billion by 2030, registering a CAGR of 6.90% from 2019 to 2030.
Aluminum is a chemical element that is a lightweight, silvery-white metal of main Group 13 or boron group of the periodic table. Within the Earth's crust, aluminum is the most common metal element and the most commonly used nonferrous metal. It is a non-magnetic and ductile metal with a dull luster due to a thin coating with aluminum oxide. Due to its chemical activity, aluminum rarely appears in the metallic form in nature, but its compounds are found in almost all rocks, plants, and animals to a reasonable extent. Usually, it is extracted from such mineral deposits as cryolite and bauxite. Once evaporated in a vacuum, it produces a reflective coating that is used to produce mirrors for telescopes, packaging goods, and toys. It is also used to manufacture a variety of products such as foils, window frames, kitchen utensils, and parts of aircraft as well as others.
Market Highlights
Saudi Arabia Aluminum Market is expected to project a CAGR of 6.90% during the forecast period, 2019-2030
Some of the properties of aluminum such as its low metal density, corrosion resistance, and thermal conductivity make it ideal for various industrial applications thereby spurring its growth in the forecasted period. Growth in the electrical industry is also a major factor driving the aluminum market to grow. Furthermore, technical developments and growing demand for aluminum from diverse end-user industries such as foil & packaging also accelerate market growth for Saudi Arabia Aluminum Market.
Saudi Arabia Aluminum Market: Segments
Saudi Arabia Aluminum Market is segmented based on type, processing method, end-user, and region.
By type (in %), Saudi Arabia Aluminum Market, 2019
The primary aluminum segment is anticipated to register XX% of the market share during the forecasted period.
By type, it is categorized into primary and secondary. Due to its extensive use in electrical applications and foil and packaging, the primary aluminum segment holds the largest market share in the revenue. Additionally, for greater strength, it can be alloyed with other elements. This is one of the factors boosting the growth of the aluminum market in applications with high mechanical strength.
By processing method (in %), Saudi Arabia Aluminum Market, 2019
The extrusion processing method segment accounted for XX% of the nation’s volume in 2019
The processing method segment can be classified into casting, extrusion, forging, pigments and powder, rods, and bar, and flat-rolled. The segment of extrusion holds the largest market share and is projected to rise at a CAGR of XX%. Aluminum extrusions offer patio furniture, sports equipment, and other lightweight and durability. Flexible and low-cost extrusion tools allow manufacturers to experiment with new designs and applications
By end-user (in %), Saudi Arabia Aluminum Market, 2019
The electronics segment accounted for the largest market size in the global market during the forecast period
Saudi Arabia Aluminum Market can also be categorized by the end-user into transport, building and construction, electrical, consumer durable, foil and packaging, and others. In terms of revenues, the electric sector held more than one-fourth of the market share. Due to their performance, weight to strength ratio, thermal conductivity, corrosion resistance, safety, and environmental benefits, Aluminum products are widely used in the electrical industry.
Saudi Arabia Aluminum Market Dynamics:
Increased demand in transportation sector and its various properties to increase growth
Aluminum is commonly used in the manufacture of aircraft, motor engines, rail transport, and ships, as the metal is lightweight and provides tremendous strength. These applications of aluminum in transport result in increased demand and Saudi Arabia is one of the major exporters acts as a driving force for the growth of the aluminum industry. Some of the properties of aluminum such as its low metal density, corrosion resistance, and thermal conductivity make it ideal for various industrial applications thereby spurring its growth in the forecasted period. Growth in the electrical industry is also a major factor driving the aluminum market to grow. Furthermore, technical developments and growing demand for aluminum from diverse end-user industries such as foil and packaging also accelerate market growth for Saudi Arabia Aluminum Market.
Chinese goofs and increased competition to hinder the market growth in Saudi Arabia
Increased influx of Chinese goods on the international market is affecting Saudi Arabia's demand and supply on the export business. Also, making new customers is difficult, and when lower prices are offered, customers can easily be encouraged to switch suppliers, hampering the growth of the Saudi Arabia aluminum market.
Saudi Arabia Aluminum Market: Regions
In terms of value and volume, Saudi Arabia accounted for XX% of the total market volume share in 2019
In the year 2019, 965 thousand metric tons of aluminum by volume was produced by Saudi Arabia. This region-built smelter is highly cost-effective and possesses the latest manufacturing and processing technologies. In this way, the latest technologically advanced processes offer higher production efficiency. That drives the growth of Saudi Arabia's aluminum market. The country aims to diversify its economy by concentrating on developing non-petroleum industries, one of them being mining and quarrying. The country profits from various policies of the government, such as lower interest on loans, lack of corporate tax, lower taxes, and simple land grants driving the growth of the market.
Saudi Arabia Aluminum Market: Competitive landscape
Some factors that improve the role in the market of the key players within the Saudi Arabia Aluminum market have been the latest manufacturing and processing technologies in the field, the new government policies, and increased demand from end-users.
Saudi Arabia Aluminum Market: Key players
- About Metals
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Alcoa corporation
- Aluminum product company
- Nesma Recycling Co. Ltd.
- Saudi Aluminum Recycling Co. Ltd.
- Star Steel Factory Co. Ltd.
- Tawfiq Al Saleh Trad. Co.
- Al Saudia Metal scrap trading LLC
- Maaden - Saudi Arabian Mining Company
- Other prominent players
Saudi Arabia Aluminum Market report also contains analysis on:
Saudi Arabia Aluminum Market segments: -
- By type:
- Primary
- secondary
- By processing method:
- Casting
- Extrusion
- Forging
- Pigments and Powder
- Rods and Bar
- Flat Rolled
- By end-user:
- Transport
- Building and Construction
- Electrical
- Consumer durable
- Foil and Packaging
- Others
- Saudi Arabia Aluminum Market dynamics
- Saudi Arabia Aluminum Market size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies Involved in the Market
- Value Chain of the Market
- Market Drivers and Restraints
Frequently Asked Questions (FAQ):
This report provides an in-depth analysis of the aluminum market in Saudi Arabia including market size, share, segmentation by type (primary vs secondary), processing methods (casting, extrusion, forging, pigments & powder, rods & bars, flat rolled) and end-user industries (transport, building & construction, electrical, consumer durable, foil & packaging and others) along with market trends, drivers and forecasts to 2030.
According to the report, the Saudi Arabia aluminum market was valued at USD 1.81 billion in 2019 and is estimated to reach USD 3.8 billion by 2030, registering a compound annual growth rate (CAGR) of approximately 6.90% from 2019 to 2030.
The end-user segmentation includes transport, building & construction, electrical, consumer durable, foil & packaging and others. Among those, the electrical industry segment held more than one-fourth of the market revenue in the base year due to the favourable weight-to-strength ratio and corrosion-resistance of aluminum products for electrical applications in Saudi Arabia
The report highlights that properties of aluminum such as low density, corrosion resistance and high thermal conductivity make it ideal for various industrial applications. Growth in the electrical sector, rising demand from diverse end-user industries such as foil & packaging and increasing processing methods are key growth drivers for the Saudi Arabia aluminium market
Although this specific report may not list all restraints in detail, in general the aluminium market may face challenges such as high energy consumption in production, fluctuations in raw material costs, import-export/regulatory issues, and competition from alternative materials. For Saudi Arabia, the need to develop processing infrastructure and manage dependence on imported inputs could also be implied.
The report offers strategic value by providing data on market size and forecast, segmentation by type and processing, end-user insights, and growth trends. It helps manufacturers, investors, policy-makers and industry participants in the aluminium value chain in Saudi Arabia to identify opportunities, benchmarking and plan expansion or investment decisions.
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