[PDF] What Are The Opportunities In The Global Automotive Aluminum Market?
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The demand for high-quality and durable automotive aluminum has resulted in the emergence of a plethora of aluminum producers. This has caused aluminum producers to expand into several areas. One of the most important areas of expansion is lightweight components, especially aircraft aluminum. One of the key factors aiding growth of the market is rapidly increasing vehicle production. With rapid industrialization and growing disposable income, the demand for vehicles has increased. As per the Organisation Internationale des Constructeurs d'Automobiles (OICA), total vehicle (commercial + passenger) sales reached 96 million units in 2017, increasing from 86 million units in 2013 globally. Thus, such factors can stimulate growth of the automotive aluminum market.
Many experts believe that the future of the aluminum industry lies in lightweight vehicle production. Many countries have started imposing stringent regulations on fuel efficiency and emissions. This means automobile manufacturers are required to keep the carbon emission of the car below a certain level. Aluminum is witnessing high demand among automotive manufacturers as it is lighter than sheet metal and does not succumb to corrosion. Besides, aluminum cars have a longer lifespan and lose very little value on average. Hence, such factors can augment growth of the automotive aluminum market. Recently, in February 2021, Vedanta launched a new aluminum cylinder head alloy for manufacturing cylinder heads and other automotive components
Automotive aluminum consists of many different elements that combine to meet customer requirements. Increasing demand for lightweight and high-strength metal sheets has spurred new advances in the automotive aluminum market. As far as regional impact is considered, Asia Pacific seems to be gaining significant traction in the automotive aluminum market. This lucrative traction could be attributed to rising demand for automobiles in emerging economies including India and China. On the contrary, North America is exhibiting a positive outlook due to stringent regulations on emissions.
As electric vehicles continue to develop and gain more popularity, the demand for lightweight materials will also grow. With technological innovations, it is expected that the next generation of automotive buildings will be much more streamlined and lightweight than even today's models. Regardless of these advantages, certain hindrances remain prevalent in the market. For instance, aluminum has a high production cost as compared to sheet metal. Besides, there are several engineering such as aluminum welding is difficult and requires extensive training. Thus, such factors can potentially impede growth of the automotive aluminum market.
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Table of Contents
Research Objectives and Assumptions
Market Dynamics, Regulations, and Trends Analysis
Global Automotive Aluminum Market – Impact of Coronavirus (Covid-19) Pandemic
Global Automotive Aluminum Market, By Price Range, 2017 - 2027 (US$ Million)
Global Automotive Aluminum Market, By Operating System, 2017 - 2027 (US$ Million)
Global Automotive Aluminum Market, By Region, 2017- 2027 (US$ Million)
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2016-2027) of the following regions are covered:
North America (Canada, Mexico)
Europe (UK, France, Italy)
Asia-Pacific (China, Japan)
South America (Brazil, Argentina)
Middle East and Africa
Key questions answered in this report:
Which players hold the significant Automotive Aluminum market share and why?
What strategies are the Automotive Aluminum market players forming to gain a competitive edge?
Why region is expected to lead the global Automotive Aluminum market?
What factors are negatively affecting the Automotive Aluminum market growth?
What will be the value of the global Automotive Aluminum market by the end of 2027?
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Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
Primary Research (Trade Surveys and Experts Interviews)
Proprietor Data Analytics Model
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