Global Aluminium Demand Stabilizes in 2024 with Projected Steady Growth to 2030

[Global Aluminium Demand Stabilises in 2024, Poised for Steady Growth Through 2030]

According to industry estimates, global aluminium consumption is expected to reach 101.3 million tonnes in 2024, rise to 104.7 million tonnes in 2025, and grow to 122 million tonnes by 2030—a compound annual growth rate (CAGR) of 3.15%. The main drivers of this growth include the expansion of electric mobility, increased demand in packaging, and a gradual recovery in the construction sector.

The Asia-Pacific region (including China) will remain the dominant market, accounting for 66% of global consumption, followed by North America at 13% and Europe at 12%. The transport and construction sectors together represent 49% of global aluminium demand. In transport, battery electric vehicles (BEVs) continue to increase aluminium intensity due to lightweighting needs, while construction demand is expected to rebound at a 3.1% annual rate, supported by lower interest rates feeding through to project pipelines. Overall, despite shifting competitive dynamics across regions, downstream demand remains resilient, setting the stage for a new cycle of sustained growth in the aluminium market.