PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1076959
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1076959
The global Automotive Aluminium market is estimated to be worth $60,704.5 million in 2021. Automotive Aluminium market is expected to expand at an 8.5% CAGR during the forecast period.
Market Introduction
Automotive aluminum is a form of aluminum sulfate that comprises a range of elements such as silicon, vanadium oxides, aluminum hydroxide, chromium, titanium, sulfur, sulfuric calcium, and magnesium carbonates. It is obtained mostly from bauxite. Aluminium is much lighter than steel, has higher tensile strength, and is easy to work with. Aluminum's recyclability has sparked a surge in demand, which is likely to grow further in the future years. Furthermore, the performance benefits of aluminum, such as its lightweight and dent resistance, have raised its demand among automakers. Aluminum is in high demand due to the rise of the automobile sector, which uses it in both commercial and passenger vehicles. Aluminum and aluminum extrusions are used in EVs to increase fuel economy and range, safety, and overall driving aesthetics. Extrusions can be found in a variety of places, including space frames, windows, hoods, hang-on pieces, trunk lids, bumpers, safety boxes, white bodies, and automobile bodies.
Market Dynamics
The growing automobile sector will result in more stringent laws and regulations for fuel efficiency and emissions, as well as improvements in driving dynamics, which will fuel market expansion. The rising demand for electric vehicles and the adoption of innovative systems that provide comfort and safety are likely to slow the growth of the automotive aluminum market in the forecast period, paving the way for market expansion. Furthermore, due to qualities such as high strength, corrosion resistance, recyclability, and thermal and electrical conductivity, it is predicted to be widely used, which would help to drive the overall market growth. The automotive industry's rapid growth for lightweight and efficient components is boosting demand for automotive aluminum, which can lower the weight of not only automobile components, but also the entire body of a vehicle by up to 50%.
Segmentation Analysis
Automotive Aluminium Market is segmented By Product, Vehicle Type, Application, and Geography. Based on vehicle type, passenger cars dominate the market and accounted for roughly 71% of the market. The upshot of tough CO2 emission standards being enacted around the world is a growing need for lightweight items in passenger cars. The weight of many sections of a car can be dramatically lowered by using aluminum, resulting in increased fuel efficiency. Pickup vans, small trucks, and electric small trucks are anticipated to grow in production as demand for light commercial vehicles rises due to advances in logistics and transportation, as well as stricter fuel pollution rules. Lightweight materials, like aluminum, can be used in light commercial vehicles to improve safety, reduce fuel costs, and improve hauling efficiency.
Competitive Landscape
Players compete and collaborate to achieve a significant market share in this fairly fragmented because of the presence of a number of market players. The companies are focusing on initiatives such as expansions, product launches, and product enhancements to gain a large portion of the Automotive Aluminium market. For instance, In April 2020, Norsk Hydro, a Norway-based aluminum producer announced plans to advance the recycling of post-consumer aluminum scrap (PCS) in the US market with its new plant in Michigan. This initiative is in line with the demand trends in the region.
Key features of the study:
This proposed research study on Automotive Aluminium market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Automotive Aluminium market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Automotive Aluminium market.
Impact of COVID-19 on Automotive Aluminium market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Automotive Aluminium market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the Automotive Aluminium market, we have also included competitive landscape and key innovator analysis for the Automotive Aluminium market
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Automotive Aluminium market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global Automotive Aluminium market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Global Automotive Aluminium Market Key Players
Constellium
AMG Advanced Metallurgical Group
Martinrea Honsel Germany
UACJ Corporation
Norsk Hydro ASA
Bodine Aluminum
Aleris
Federal-Mogul Holding Corporation
Consolidated Metco
Dana
Farinia Group
Dynacast
Aluminium Bahrain
Granges Innovative Aluminum Engineering
Kaiser Aluminum
Global Automotive Aluminium Market by Product
Cast Aluminum
Rolled Aluminum
Extruded Aluminum
Global Automotive Aluminium Market by Vehicle Type
Passenger Car
LCV
HCV
Global Automotive Aluminium Market by Application
Powertrain
Chassis & Suspension
Car Body
Global Automotive Aluminium Market by Region
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa