Trusted Business Insights presents the Updated and Latest Study on Aluminum Alloys Market 2019-2025. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Abstract, Snapshot, Market Analysis & Market Definition: Aluminum Alloys Market
Industry / Sector Trends
Aluminum Alloys Market size was registered at over USD 100 billion by 2016 gaining the industry by CAGR over 5%.
Europe Aluminum Alloys Market Size, By End-User, 2013 – 2024 (USD Bn)
Rising global tourism and corresponding demand for air, water, as well as land transportation will significantly drive the global aluminum alloys market in the forecast years. Increasing demand for superior means of commuting in order to meet the needs for the growing industrialization will further augment the industry growth. Worldwide automotive sales crossed 90 million units in 2016 from less than 80 million units in 2011, growing considerably after the economic slowdown of the previous decade. Majority of the passenger car sales were concentrated in the Asia Pacific region owing to the rapidly increasing GDP and purchase power of the population of China, India, and Japan. Increasing demand for light weight alloys for enhancing the vehicle performance and efficiency will have a positive influence on the market in coming years.
Asia Pacific GDP growth was recorded at more than 5% in 2014, of which manufacturing contributed for a significant chunk. Overall industrial developments in China, India, South Korea, Japan, and Indonesia will play a major role in the global aluminum alloys market growth in coming years. Availability of cost efficient workforce accompanied with lenient industrial norms have invited several manufacturing conglomerates to shift their manufacturing bases in this region. Wide range of industrial application of the product including die casting, manufacturing machineries and equipment will have a positive impact on the market.
Poorly regulated bauxite mining in the straits of Malaysia and Indonesia has created several concerns regarding the ecological impact. Rise of respiratory and skin diseases due to exposure to mining dusts may pose threats to the aluminum alloys market as aluminum is procured from these ores. In the European Union bauxite mining is governed by a European Innovation Partnership (EIP) body named Bauxite Residue and Aluminium Valorisation Operations (BRAVO) which focuses on improving the aluminum value chain and secondary raw material recovery.
Market Segmentation, Outlook & Regional Insights: Aluminum Alloys Market
Aluminum Alloys Market, By Product
On the basis of product, aluminum alloys market has been segmented into wrought alloy and cast alloy. Wrought alloy have higher tensile strength in cast alloys and have more aluminum content, making them a popularly used product category. They are lighter in weight and are normally free from common casting defects such as porosity and shrink. With increasing demand for lighter and stronger metal for fabrication of different mechanical parts, global wrought market size will witness substantial gain in coming years.
Cast alloys are manufactured with other elements including silicon, copper, magnesium, zinc, and tin, in order to provide the required characteristics for specific applications. For instance, aluminum-tin alloy exhibits low strength but extremely high wear resistance, while aluminum-copper alloys have high strength and low corrosion resistance. Specialty engineering for development of specifically required mechanical parts will have a positive influence on the global cast aluminum alloys market.
Aluminum Alloys Market, By End-user
Transportation industry is the most significant end-user industry and will hold sway the aluminum alloys market, both in term of volume and revenue throughout the forecast span. Increasing demand for light weight automobiles and aircrafts to enhance the fuel efficiency will drive the product application in this industry in coming years. Transportation industry accounted for more than 45% share of the global market in 2016 and will exhibit growth at more than 5.5% CAGR up to 2024.
Construction industry registered more than USD 20 billion for the overall aluminum alloys market in 2016. Increasing urbanization all over the globe and requirement of shelters for the continuously increasing population will augment the industry growth in the coming years. Light weight and strength give them superiority over iron and steel products used in the construction sector.
Aluminum Alloys Market, By Region
Asia Pacific aluminum alloys market accounted for more than 60% of the global share in 2016 and will witness growth by a CAGR more than 5.5% in the forecast years. Aggressive developments in the construction, automotive, and marine industry in China will signify the regional industry growth in the next few years. Growing industrialization in India and Southeast Asian countries will further augment the growth.
Presence of several high-end automotive and aeronautical companies in Europe, especially in Germany, UK, France, and Italy, will positively influence the regional market in coming years. Technologically advanced manufacturing units are primarily driven by increasing the product efficiencies. Aluminum alloys market demand in these countries will grow on the account of increasing demand for performance products in the end-user industries.
Key Players, Recent Developments & Sector Viewpoints: Aluminum Alloys Market
Aluminum alloys market competitive landscape is moderately fragmented with the top four manufacturing companies, namely United Company RUSAL Plc, Rio Tinto Alcan, Aluminum Corporation of China Ltd., and Alcoa Inc., accounting for more than a quarter of the global share in 2016. Other key industry players include Kobe Steel Ltd., Constellium, Aleris International Inc., Aluminium Bahrain B.S.C., Dubai Aluminium Company Ltd., Norsk Hydro ASA and Kaiser Aluminum Corporation.
The aluminum alloys market ecosystem has a considerable amount of backward integration as major manufacturers try to secure the bauxite sources for product consistency. The companies also strengthen their market hold with continuous R&D effort for product development along with strategic acquisitions and mergers. For instance, Kaiser Aluminum acquired Alexco LLC in 2011 to expand their product portfolio for the aerospace sector.
Aluminum Alloys Industry Viewpoint
Aluminum alloys market is highly dependent on the availability of bauxite ore for the extraction of aluminum. The market participants rely on a strong supply chain to maintain the continuous supply of the raw material as well as distribute the product to various end-user industries. Owing to a wide range of application, aluminum alloys industry demand will witness a noteworthy growth in the coming years
What are the Key Insights Covered: Exhaustive Aluminum Alloys Market
1. Market size (sales, revenue and growth rate) of Aluminum Alloys industry.
2. Global major manufacturers’ operating situation (sales, revenue, growth rate and gross margin) of Aluminum Alloys industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Aluminum Alloys industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of Aluminum Alloys industry.
Research Methodology: Aluminum Alloys Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.
Quick Read Table of Contents of this Report @ WorldWide Aluminum Alloys Market, Industry / Sector Analysis Report, Regional Outlook & Competitive Market Share & Forecast, 2019 – 2025
This post was originally published on Downey Magazine