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Aluminum-Based Master Alloy Market Size Worth USD 395.3 Million in 2032 | Emergen Research
Aluminum-Based Master Alloy Market
Aluminum-based master alloys, comprised of aluminum as the base metal with added elements like copper, magnesium, silicon, manganese, and others, are gaining traction owing to their exceptional customizable properties and consistency. These alloys find extensive use in manufacturing lightweight components, especially in the burgeoning Electric Vehicle (EV) sector, where demand for lightweight materials is rapidly escalating.
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According to recent market analysis, the demand for aluminum alloys is expected to reach 68.7 million tonnes, marking an 8% increase compared to 2020. Manufacturers are witnessing a surge in orders and sales volumes, as aluminum-based master alloys play a crucial role in meeting the escalating demand for lightweight materials.
Despite the promising growth outlook, the market faces challenges such as fluctuating raw material costs and competition from more durable alternatives. The complex manufacturing process, requiring advanced technology, specialized equipment, and skilled labor, contributes to higher operational expenses, potentially deterring buyers seeking more cost-effective solutions.
Segment Insights:
Aluminum-Based Master Alloy Types:
The market is segmented into primary and secondary aluminum-based master alloys. Primary alloys, favored for their consistency and homogenous composition, dominate the market, particularly in energy devices, automotive components, and building materials.
Aluminum-Based Master Alloy Technology:
Induction and reverb melting technologies are key segments, with reverb melting witnessing steady growth due to its capability to produce specialized alloys with enhanced quality and production yields.
Aluminum-Based Master Alloy Raw Materials:
Aluminum remains the dominant raw material, offering properties such as high-strength to weight ratio, good formability, and resistance to corrosion, making it the preferred material for alloy production.
Aluminum-Based Master Alloy Applications:
Composition adjustment, management of crystal structure, and simplification of fabrication techniques are key application segments, with composition adjustment witnessing moderate growth due to its role in maintaining uniformity and consistency in alloy composition.
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Aluminum-Based Master Alloy Top Companies and Competitive Landscape
The global aluminum-based master alloy market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective aluminum-based master alloy.
Some of the major companies included in the global aluminum-based master alloy market report are:
• Aida Alloys
• SLM Solutions
• Nanjing Yunhai Special Metals
• Hebei Sitong New Metal Material
• AMG Aluminum UK Ltd.
• HZALU
• Jiangxi Hongke Special Alooys
• Xuzhou Huatian Metal Flux
• KBM Affilips B.V.
• Sichuan Lande Industry
• Reading Alloys
• Avon Metals Ltd.
• Bamco
• Saru Aikoh
• ACMECast
• Ametek Metals
• Kymera International
• NicoCorp Development Ltd.
Aluminum-Based Master Alloy Latest Industry News
• On 28 September, 2023, NioCorp Developments Ltd. plans to produce primary aluminum-scandium alloy products from mining and upgrading facilities located in the U.S.. Project Creek, could allow commercial and defense manufacturers to replace some existing aluminum parts on vehicles. Scandium-containing aluminum alloys provide high-strength, corrosion-resistant, weldable alternatives to existing aluminum options and offer significant improvements in properties and opportunities for lightening, especially in transportation applications.
• On 20 March 2020, Kymera International ('Kymera'), a leading specialty materials company specializing in the production of powders, pastes and pellets of pure and alloyed aluminum, copper, tin and zinc, as well as many other niche products, announced that it has completed a transaction with Ametek Inc., acquiring 100% of Reading Alloys. Established in 1953, Reading Alloys designs, develops and manufactures master alloys, insulating coatings and titanium powders. The company is a preferred supplier to manufacturers of high-quality titanium and superalloy machined products used in aerospace and aircraft applications.
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Aluminum-Based Master Alloy Market Segment Analysis
For the purpose of this report, Emergen Research has segmented the global aluminum-based master alloy market on the basis of type, technology, raw material, application, end-use, and region:
• Type Outlook (Revenue, USD Million; 2019-2032)
o Primary Aluminum Based Master Alloy
o Secondary Aluminum Based Master Alloy
• Technology Outlook (Revenue, USD Million; 2019-2032)
o Induction
o Reverb melting
• Raw Material Outlook (Revenue, USD Million; 2019-2032)
o Aluminum (AI)
o Titanium (Ti)
o Magnesium (Mg)
o Beryllium (Be)
o Others
• Application Outlook (Revenue, USD Million; 2019-2032)
o Composition Adjustment
o Management of crystal structure
o Simplification of fabrication technique
• End-Use Outlook (Revenue, USD Million; 2019-2032)
o Energy Industry
o Packaging Industry
o Automotive Industry
o Construction and building industry
o Others
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