Aluminum Forging Market Size To Reach $33.61 Billion By 2030

Aluminum Forging Market Growth & Trends

The global aluminum forging market size is expected to reach USD 33.61 billion by 2030, registering a CAGR of 7.0% from 2025 to 2030, according to a new report by Grand View Research, Inc. Increasing demand for lightweight metal forgings in the aerospace & automotive industries is propelling the market growth.

The process of forging involves pressing and squeezing metal under high pressure for manufacturing high-strength parts. Forged aluminum is preferable for applications that require high safety and performance along with lightweight for enhanced fuel efficiency and speed.

Product penetration is increasing in the aerospace & defense industry as aircraft part manufacturers are shifting towards lightweight materials for developing components such as landing gears and engines to reduce aircraft weight. A lighter aircraft results in increased fuel efficiency, thereby improving airline profitability.

Based on product, the market is segmented into open-die, close-die, and ring-rolled. In terms of revenue, close-die is anticipated to register the fastest growth rate over the forecast period. The close-die forging process involves using two or more dies containing impressions. It enables the production of a variety of shapes with relatively precise tolerances, compared to other processes.

The market witnessed high raw material costs in 2022 due to the Russia-Ukraine war. The operating costs of companies increased in 2022 as there was a surge in the prices of aluminum and its raw materials. These prices were corrected in the mid of 2022 as alternative countries were found for importing aluminum products. Global supply chain disruptions caused by the war have also led to inflationary pressures.

Based on region, Europe is anticipated to register a CAGR of 5.1% in terms of revenue during the forecast period. The primary aluminum industry in Europe has been severely impacted by rising energy costs and soaring natural gas prices, along with the lack of sufficient nuclear or renewable energy. The invasion of Ukraine by Russia also affected the product supply chain. It adversely impacted the trade of natural gas in Europe, which made the issue worse for European countries. Energy-intensive sectors in Europe, including forging companies, halted or temporarily suspended their operations across Europe owing to these difficulties.

Market participants continue to expand their production capacity to stay ahead of their competition. For instance, in December 2022, Strojmetal announced that it has installed a new 2,500-ton scotch yoke press for aluminum forging in its plant located in the Czech Republic. The new product manufacturing line of the company is anticipated to help it in catering to the surging demand for lightweight components from automobile manufacturers.

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Aluminum Forging Market Report Highlights

• Closed die forging held the revenue share of over 72% in 2024. Closed die process produces more complex shapes with higher tolerances than the open die because of the presence of two or more dies enclosed during the process.

• The ring-rolled segment is anticipated to register a CAGR of 6.3%, in terms of revenue, over the forecast period. Rings are lightweight, able to resist corrosion, and extremely durable.

• Automotive segment held the revenue share of over 56% in 2024. The global automotive industry is increasing its consumption of forged components to lower the weight of vehicles.

• The aerospace segment is expected to register a CAGR of 7.0%, in terms of revenue, during the forecast period.

Aluminum Forging Market Segmentation

Grand View Research has segmented global the global aluminum forging market report on the basis of product, application and region:

Aluminum Forging Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Open Die

• Closed Die

• Ring Rolled

Aluminum Forging Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automotive

• Aerospace

• Oil & Gas

• Construction

• Others

Aluminum Forging Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

  • Italy

  • Netherlands

• Asia Pacific

  • China

  • India

  • Japan

  • South Korea

• Central & South America

  • Brazil

• Middle East & Africa

  • GCC

List of Key Players of Aluminum Forging Market

• Alcoa

• Aluminum Precision Products

• American Handforge

• Arconic

• ATI

• Bons & Evers

• Farinia Group

• FORGINAL industrie

• Norsk Hydro

• STAMPERIE SpA