Europe Aluminium Market is expected to reach USD 74.75 billion by 2030

The high aluminium recycling rate and the presence of automotive manufacturing sector are driving up demand for Europe aluminium market during the forecast period.

Europe Aluminium Market size was valued at USD 54.59 billion in 2023, and is predicted to reach USD 74.75 billion by 2030, with a CAGR of 3.9% from 2024 to 2030, according to new research by Next Move Strategy Consulting. The rise of the automotive industry and heightened emphasis on sustainability in the renewable energy sector are fueling market growth in the region.

According to the International Renewable Energy Agency, the EU has set targets to achieve a 20% share of renewable energy in energy consumption by 2020 and 32% by 2030, aimed at transitioning towards renewable energy sources and promoting sustainability.

As a result, there is a rising demand for aluminum in both the automotive and renewable energy industries, driving market growth and creating opportunities for further expansion in the region.

However, the aluminium industry is affected by environmental regulations and sustainability requirements such as emissions control, waste management, and energy efficiency targets, which can increase operational costs and pose challenges for some producers.

Compliance with stringent emissions standards, waste management regulations, and energy consumption targets can require significant investments and efforts to reduce the environmental impact of aluminium production.

These sustainability measures aim to minimize emissions, promote responsible waste management, and encourage energy efficiency. While these regulations are essential to promote a greener and more sustainable industry, they can add to the overall costs and complexities of aluminium production.

On the other hand, the increasing emphasis on sustainable packaging is expected to create ample growth opportunities for the market in the future. Aluminium is well-suited for applications such as cans, bottles, and foils, benefiting from its recyclability and ability to maintain product quality and freshness.

Eco-conscious consumers and brands seeking to minimize their environmental impact prefer aluminium as a preferred choice. By opting for aluminium packaging, they reduce waste and promote sustainability, aligning with their commitment to a greener future. This growing demand for sustainable packaging solutions drives the growth of the aluminium market.

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According to the report, leading players in Europe aluminium market include Aluminium Corporation of China Limited (CHALCO), Hindalco Industries Ltd., Norsk Hydro ASA, China Hongqiao Group Limited, United Company RUSAL PLC, Rio Tinto, East Hope Group Company Limited, Xinfa Group Co., Ltd., Alcoa Corporation, and Arconic Inc., Emirates Global Aluminium PJSC, Vedanta Aluminium and Power, Ma’aden, South32, and Century Aluminium Company.

Key Insights from Europe Aluminium Market Report:

• The information related to key drivers, restraints, and opportunities and their impact on Europe aluminium market is provided in the report.

• The value chain analysis in the market study provides a clear picture of the roles of each stakeholder.

• The market share of players in Europe aluminium market is provided in the report along with their competitive analysis.

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