Global Alumina Market 2024

Alumina Market Size

The global alumina market was estimated at $X in 2022, picking up by 2.1% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -3.5% against 2020 indices. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the global market remained at a lower figure.

Alumina Production

In value terms, alumina production totaled $X in 2022 estimated in export price. In general, the total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.0% 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 -1.1% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 52% against the previous year. Global production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Alumina Exports

Exports

Global alumina exports reduced slightly to X tons in 2022, which is down by -2.9% on 2021 figures. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when exports increased by 80%. As a result, the exports reached the peak of X tons, and then declined in the following year.

In value terms, alumina exports rose significantly to $X in 2022. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +112.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 90%. Over the period under review, the global exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

Australia was the key exporter of alumina in the world, with the volume of exports finishing at X tons, which was near 42% of total exports in 2022. Brazil (X tons) held a 22% share (based on physical terms) of total exports, which put it in second place, followed by Indonesia (5.8%) and India (5%). Ireland (X tons), Ukraine (X tons), Jamaica (X tons), Spain (X tons) and Kazakhstan (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Indonesia (with a CAGR of +375.7%), while shipments for the other global leaders experienced more modest paces of growth.

In value terms, Australia ($X), Brazil ($X) and Indonesia ($X) were the countries with the highest levels of exports in 2022, together accounting for 61% of global exports.

Indonesia, with a CAGR of +330.1%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average alumina export price amounted to $X per ton, jumping by 15% against the previous year. In general, export price indicated a perceptible expansion from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, alumina export price increased by +21.5% against 2020 indices. The growth pace was the most rapid in 2018 when the average export price increased by 37%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Spain ($X per ton) and Ireland ($X per ton), while Jamaica ($X per ton) and Australia ($X per ton) were amongst the lowest.

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

Alumina Imports

Imports

In 2022, the amount of alumina imported worldwide expanded sharply to X tons, surging by 8.7% compared with the year before. The total import volume increased at an average annual rate of +1.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 9.8% against the previous year. Over the period under review, global imports reached the maximum in 2022 and are likely to continue growth in years to come.

In value terms, alumina imports stood at $X in 2022. The total import value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 with an increase of 36%. Over the period under review, global imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Russia (X tons), Canada (X tons), India (X tons), China (X tons), Norway (X tons), Iceland (X tons), Bahrain (X tons), the United States (X tons), South Africa (X tons), Qatar (X tons), Argentina (X tons) and the United Arab Emirates (X tons) represented the main importer of alumina in the world, mixing up 78% of total import. Malaysia (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Malaysia (with a CAGR of +57.7%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($X), Russia ($X) and India ($X) were the countries with the highest levels of imports in 2022, with a combined 31% share of global imports. These countries were followed by Norway, China, the United States, Iceland, South Africa, Bahrain, the United Arab Emirates, Qatar, Argentina and Malaysia, which together accounted for a further 42%.

Malaysia, with a CAGR of +39.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average alumina import price amounted to $X per ton, stabilizing at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 26% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+3.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Platform

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