Aluminum Forging Market Size, Share & Trends Analysis Report By Product , 2025 - 2030

2024-12-17

Forward a trend analysis report on the aluminum forging market from the Grand View Research website. The report analyzes the aluminum forging market size, share and trend by different products (open mold, closed mold), different applications (automotive, aerospace), different regions and market segments from 2025 to 2030.
Here we only extract some of the descriptions about the market size and trends, as follows:

Aluminum Forging Market Size & Trends

The global aluminum forging market size was estimated at USD 23.93 billion in 2024 and is projected to grow at a CAGR of 7.0% from 2025 to 2030.The rising demand for lightweight materials in the automotive industry is driving growth. Automobile manufacturers have been trying to reduce the weight of vehicles for many years to increase fuel efficiency and improve vehicle performance, as well as to reduce carbon emissions. According to the U.S. Department of Energy, a decrease in the weight of vehicles by 10% can increase fuel efficiency by 6% to 8%. Thus, global automotive manufacturers are shifting towards the production of lightweight cars.

Increasing demand for new defense aircraft is expected to further augment market growth. Airbus experienced a remarkable 200% increase in profits, primarily driven by a surge in passenger aircraft sales and heightened demand for military aircraft. In response to this growth, the company announced in May 2022 plans to boost A320 production by 50%, aiming to manufacture a minimum of 75 aircraft per month by 2025. This strategic move highlights Airbus's commitment to scaling operations in line with market demand.

Drivers, Opportunities & Restraints

The demand for aluminum forged components from the global aerospace & defense industry has surged rapidly. According to the International Air Transport Association (IATA), there will be 8.2 billion passengers flying throughout the world by 2037. The aluminum forged components used in this industry are offered by a few well-established global companies that make significant financial investments to provide their clients with the most cutting-edge products. Manufacturers of engines, landing gears, etc. used in aircraft are opting for lightweight materials such as forged aluminum for developing their products to lower the weight of aircraft.
The volatility in global aluminum prices has persisted beyond 2023 due to ongoing market shifts. Key factors now influencing these fluctuations include China's production strategies, as the country prioritizes environmental goals by capping aluminum output. China’s transition to hydropower-based smelting in provinces like Yunnan has also introduced operational constraints, limiting future capacity growth. Meanwhile, the ongoing Russia-Ukraine conflict continues to disrupt supply chains, contributing to uncertainties in raw material availability and energy costs.
Industry 4.0 offers the aluminum forging market opportunities through automation, IoT, and AI-driven solutions, optimizing production, reducing waste, and enhancing product quality. These technologies enable efficient operations, predictive maintenance, and better customization, meeting growing demand from sectors like automotive, aerospace, and renewable energy.

Price Trend Analysis

Since 2023, aluminum forging prices have been volatile, driven by growing demand from EVs, aerospace, and renewable energy sectors, along with high energy costs and supply disruptions. The surge in lightweight automotive components and aerospace recovery has increased reliance on forged aluminum.
However, geopolitical factors, such as energy crises and trade shifts, add further pricing pressure. To mitigate volatility, manufacturers are adopting recycling technologies and advanced aluminum alloys to lower costs and align with sustainability goals. Environmental regulations, especially in Europe and North America, are also reshaping production methods, emphasizing eco-friendly practices to ensure long-term market stability.

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