A Quick Overview of Green Aluminum Market
The key object of this report on the Green Aluminum Market is to offer worthy data and a geographical perspective for predictions of market growth in the future. The recommendations added in this detailed report are insightful, and actionable offering a deep understanding of the industry. Moreover, it includes a comprehensive importance of aspects that have impacted the industry.
MarkNtel Advisors has recently studied an extensive market intelligence evaluation on the Green Aluminum Market. Also, the newly released report exhibits an engaging format that comprises compelling graphs, tables, charts, and figures as well. These seamlessly combined visual aids are designed to support the clarity and accuracy of the details presented, offering analysts a deep knowledge of the topic at hand.
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Green Aluminum Market Scenario:
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.
Green Aluminum Market - Industry Dynamics, Size, And Opportunity Forecast To 2030:
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.
Green Aluminum Market Segmentation Analysis:
Green Aluminum Industry, analyzes, identifies, and highlights the main trends and drivers which are affecting each segment of the market. The market has been further divided into the following categories:
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.
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Who are the Key Market Players in the Green Aluminum Market?
In the fast-changing Green Aluminum Market, understanding what our competitors are doing is crucial. By carefully analyzing things, we figured out some of the dominating players in the industry. So, the top companies of the Green Aluminum market ruling the industry are:
List of 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 Potential Players (Hindalco Aluminum, Rio Tinto, etc.).
Global Green Aluminum 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.
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