Aluminum Alloy Market Size worth USD 22.00 Billion Globally with Excellent CAGR of 4.96% by 2029

Aluminum Alloy Market research report execution is becoming very vital for the businesses to gain success because it offers many benefits including insights into revenue growth and sustainability initiative. The large scale Aluminum Alloy Market research report is an absolute overview of the market that takes into account various aspects of product definition, market segmentation based on various parameters, and the established merchant landscape. This industry report also offers businesses with the company profile, product specifications, production value, manufacturer's contact information and market shares for company. Moreover, Aluminum Alloy Market business report blends together all-inclusive industry analysis with particular estimates and forecasts to provide complete research solutions with greatest clarity for strategic decision making.

The Global Aluminum Alloy Market report brings into light key market dynamics of the sector. There has been increasing aluminum production over the recent years, which is a crucial aspect driving the aluminum alloy's market expansion. According to the Aluminum 13th World Trade Fair & Conference, around 63.2 million tonnes of aluminum were produced worldwide in 2017. As a result, rising aluminum output is expected to drive market growth within the forecasted period as well.

Global Aluminum Alloy Market was valued at USD 14.94 billion in 2021 and is expected to reach USD 22.00 billion by 2029, registering a CAGR of 4.96% during the forecast period of 2022-2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and climate chain scenario.

Market Definition
Aluminum alloys are alloys with a higher percentage of aluminum metal in their composition. Aluminum is a common metal that is utilized in a variety of industries, including transportation, transportation, and electronics. To improve the qualities of pure aluminum and make it acceptable for a wide variety of uses, alloying metal is added to the base metal aluminum in aluminum alloys.

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Some of the major players operating in the aluminum alloy market are
Aluminium Corp (China)
Rio Tinto (UK)
Dupont (U.S.)
Alcoa Corporation (U.S.)
RUSAL (Russia)
Hindalco Industries Limited (India)
UACJ Corporation (Japan)
SOLVAY (Belgium)
Norsk Hydro ASA (Norway)
AluminIum BahraIn B.S.C. (Alba) (Bahrain)
DAIKIN (Japan), Aleris International Inc. (U.S.)
Teijin Limited (Japan)
Mitsubishi Chemical Holdings Corporation (Japan)
Emirates Global Aluminium PJSC (UAE)
Constellium (France)
Kobe Steel Ltd. (Japan)
Magna International Inc. (Canada)
IBC Advanced Alloys Corp (U.S.)

ALUMINUM ALLOY MARKET DYNAMICS
This section deals with understanding the market drivers, opportunities, restraints and challenges. All of this is discussed in detail as below:

Drivers
High Demand Across Automotive Sector
Aluminum alloys are used extensively in the automotive sector. The increasing manufacturing of automobiles around the world is driving up demand for these alloys, propelling the market forward. According to the European Automobile Manufacturers Association, more than 80 million passenger cars and 98.1 million motor vehicles were produced globally in 2017. As a result, the aluminum alloy market is projected to flourish largely over forecasted period.

Growth in Marine as well as the Aviation Industry
The rise of the marine industry is being fueled by an increase in cargo transportation. Aluminum is commonly employed in the shipbuilding industry to reduce the total weight of the ship while maintaining its structural integrity. Furthermore, as compared to other metals, aluminum alloys are highly corrosion resistant, which is driving the demand for aluminum alloys in the shipbuilding industry. Additionally, rising demand for aluminum alloys from military and defense aircraft is expected to boost the market for aluminum alloys. Increased investment in aircraft maintenance and repair is also predicted to boost industry growth. Furthermore, the growing desire to lower aircraft overall weight is driving demand for aluminum alloys, which are utilized to reduce weight and enhance fuel efficiency. As a result, the rise of the maritime as well as the aviation industry is boosting the market for aluminum alloys.

Surging Utilization for Electronic Components
The increasing use of aluminum alloy in the production of electronic components is boosting market growth. The market is seeing an increase in demand for portable electronic devices such as tablets, smartphones, and wearable devices. These devices are becoming increasingly popular, particularly among teenagers and adults.

Furthermore, the building sector is predicted to grow rapidly as a result of increased urbanization and an increase in the number of people who need shelter. This factor is projected to have an accelerated growth over the forecasted period. Additionally, changing lifestyles and rising consumer purchasing power are driving demand for such products, which is fueling the market expansion of aluminum alloys. Also, due to their beneficial properties such as the corrosion resistance, lightweight, high tensile strength, low maintenance, recyclability and long shelf life aluminum alloys are widely utilized in the construction industry to make a variety of materials such as doors, windows and panels.

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GLOBAL ALUMINUM ALLOY MARKET SCOPE
The aluminum alloy market is segmented on the basis of product, sensitivity type, design type, strength type and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
Wrought Alloy
Cast Alloy
Primary Foundry Alloys
Al-Si Family
AISi7Mg0
AlSi9Mg
AISi5Mg
AlSi10MnMg
AlSi9MnMoZr
AlSi9
AlSi10MnMg
AlSi102MnMgZn
Others
Al-Zn Family
AlZn10Si8Mg
AlZn3Mg3Cr
AlZn5Mg
Al-Mg Family
AlMg3
AlMg3Si
AlMg5
AlMg5Si
AlMg5Si2Mn
AlMg7Si3Mn
Al-Cu Family
AlCu4TiMg
AlCu4TiMgAg
AlCu4Ti
AlCu5NiCoSbZ
Others
Others

Secondary Foundry Alloys
Sensitivity Type
Heat Treatable Alloys
Non Heat-Treatable Alloys
Design Type
2000 Series
3000 Series
4000 Series
5000 Series
6000 Series
7000 Series

Others
Strength Type
High Strength
Ultra-High Strength

Application
Transportation
Automotive

Body Parts
Frame
Hood
Bumper Structures
Doors
Body Shells
Cabin Parts
Others

Engine Parts
Pistons
Camshafts
Crankshafts
Cylinder Heads
Engine Blocks
Others
Wheels
Powertrain
Suspension Parts
Chassis
Others
Building and Construction
Siding and Roofing
External Facades
Windows and Doors
Staircases
Railings
Others
Packaging
Machinery
Electrical
Marine
Ship Building
Yacht Building
Boat Building
Consumer Durables
Refrigerator Coolants
Cooking Utensils
Furniture
Laptop and Desktop Parts and Accessories
Tablets and Smartphone Parts
Others
Aerospace
Others

Aluminum Alloy Market Regional Analysis/Insights
The Aluminum Alloy market is analyzed and market size insights and trends are provided by country, material type, end user and application as referenced above.

The countries covered in the Aluminum Alloy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2022-2029. The market growth over this region is attributed to the high demand for fiber cement Aluminum Alloy within the region.

Asia-Pacific on the other hand, is estimated to show lucrative growth over the forecast period of 2022-2029, due to the prominent presence of fiber cement Aluminum Alloy market players within the region. Moreover, the high requirement for the residential and commercial building construction also boosts the regional demand.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Key Question Answered in Report.
What are the strengths and weaknesses of the Aluminum Alloy Market?
What are the different marketing and distribution channels?
What is the current CAGR of the Aluminum Alloy Market?
What are the Aluminum Alloy market opportunities in front of the market?
What are the highest competitors in Aluminum Alloy market?
What are the key outcomes of SWOT and Porter's five techniques?
What is the Aluminum Alloy market size and growth rate in the forecast period?
Table of Contents:

Global Aluminum Alloy Market Research Report 2022-2029
Chapter 1: Aluminum Alloy Market Overview
Chapter 2: Global Economic Impact on Industry
Chapter 3: Aluminum Alloy Market Competition by Manufacturers
Chapter 4: Global Aluminum Alloy Production, Revenue (Value) by Region
Chapter 5: Global Aluminum Alloy Supply (Production), Consumption, Export, Import by Regions
Chapter 6: Global Production, Revenue (Value), Price Trend by Type
Chapter 7: Global Market Analysis by Application
Chapter 8: Manufacturing Cost Analysis
Chapter 9: Industrial Chain, Sourcing Strategy and Downstream Buyers
Chapter 10: Marketing Strategy Analysis, Distributors/Traders
Chapter 11: Aluminum Alloy Market Effect Factors Analysis
Chapter 12: Global Aluminum Alloy Market Forecast

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