Asia: Aluminium Market 2024

Aluminium Market Size in Asia

The Asian aluminium market rose slightly to $X in 2022, with an increase of 2.5% against the previous year. The total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +62.1% against 2016 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the near future.

Aluminium Production in Asia

In value terms, aluminium production stood at $X in 2022 estimated in export price. The total production indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -2.3% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by 35%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Aluminium Exports

Exports in Asia

Aluminium exports stood at X tons in 2022, standing approx. at the previous year. In general, exports recorded a buoyant expansion. The most prominent rate of growth was recorded in 2020 when exports increased by 28% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, aluminium exports stood at $X in 2022. Over the period under review, exports saw a buoyant increase. The most prominent rate of growth was recorded in 2021 with an increase of 30% against the previous year. The level of export peaked in 2022 and is likely to see gradual growth in years to come.

Exports by Country

India represented the main exporting country with an export of about X tons, which finished at 36% of total exports. The United Arab Emirates (X tons) took a 17% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (14%), Saudi Arabia (7.9%), Bahrain (4.9%) and Oman (4.5%). Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to aluminium exports from India stood at +22.0%. At the same time, Bahrain (+32.0%), Malaysia (+15.2%), Saudi Arabia (+12.8%) and the United Arab Emirates (+5.3%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in Asia, with a CAGR of +32.0% from 2012-2022. Kazakhstan experienced a relatively flat trend pattern. By contrast, Oman (-2.4%) illustrated a downward trend over the same period. India (+26 p.p.), Malaysia (+7.1 p.p.), Bahrain (+4.3 p.p.) and Saudi Arabia (+3 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates, Kazakhstan and Oman saw its share reduced by -3.8%, -4.7% and -7.3% from 2012 to 2022, respectively.

In value terms, India ($X) remains the largest aluminium supplier in Asia, comprising 43% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Malaysia, with an 11% share.

In India, aluminium exports increased at an average annual rate of +25.5% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (+4.6% per year) and Malaysia (+12.8% per year).

Export Prices by Country

The export price in Asia stood at $X per ton in 2022, almost unchanged from the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.0%. The most prominent rate of growth was recorded in 2021 when the export price increased by 34% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kazakhstan (+4.1%), while the other leaders experienced more modest paces of growth.

Aluminium Imports

Imports in Asia

In 2022, purchases abroad of aluminum (unwrought, not alloyed) decreased by -9.1% to X tons for the first time since 2013, thus ending a eight-year rising trend. The total import volume increased at an average annual rate of +2.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 16%. As a result, imports reached the peak of X tons, and then reduced in the following year.

In value terms, aluminium imports fell slightly to $X in 2022. Total imports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +65.8% against 2019 indices. The pace of growth was the most pronounced in 2021 with an increase of 60%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Japan (X tons), Turkey (X tons), South Korea (X tons) and China (X tons) represented roughly 68% of total imports in 2022. Malaysia (X tons) took a 7.2% share (based on physical terms) of total imports, which put it in second place, followed by Taiwan (Chinese) (6.9%) and Thailand (5.4%).

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +7.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), Turkey ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, with a combined 58% share of total imports.

Among the main importing countries, Turkey, with a CAGR of +10.7%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, surging by 7.6% against the previous year. Over the last decade, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2021 an increase of 38%. Over the period under review, import prices reached the maximum in 2022 and is likely to see steady growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Thailand ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+2.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :