Aluminum Alloys Market to Reach US$ 225.16 Bn by 2030 | United Company RUSAL Plc, Alcoa Inc.

Market Overview:

Global aluminum alloys market was valued at US$ 140.1 Bn in 2022, and is expected to exhibit a CAGR of 6.1%, in terms of revenue, over the forecast period (2023-2030) to reach US$ 225.16 Bn by 2030.

Market Dynamics:

Aluminum alloys are highly preferred in automotive manufacturing due to their light weight and ability to enhance fuel efficiency. The growing automotive sector is expected to drive the demand for aluminum alloys during the forecast period. In addition, stringent environmental regulations aimed at reducing vehicle weight will further accentuate their use in the automotive industry. Furthermore, the rising construction activities mainly in emerging economies of Asia Pacific are augmenting the consumption of aluminum alloys owing to their non-rusting properties and high strength-to-weight ratio. They help in reducing building weight, thereby providing stability and durability to structures.

💎 Sample Copy of the Report @ https://www.coherentmarketinsights.com/insight/request-sample/4655

Fluctuating raw material prices can hinder the aluminum alloys market

Aluminum alloy manufacturers are dependent on raw materials like aluminum and primary aluminum to produce value-added products. However, prices of these raw materials tend to fluctuate due to variables such as global economic conditions, inventory levels, and trade disputes. For example, the aluminum price plunged in 2018 after the US imposed tariffs on imported raw materials including aluminum, disrupting global supply chains. Volatile raw material costs increase supply risk and affect the profitability of aluminum alloy producers. It also raises production costs, impacting the pricing and demand of finished aluminum alloy products. To counter this challenge, companies focus on stockpiling raw materials during price dips and improving sourcing strategies.

Rising construction activity presents lucrative opportunities

Growing infrastructure development and construction spending around the world offers sizable prospects for aluminum alloy suppliers. In the construction industry, aluminum finds wide usage in applications such as framing, siding, roofing and railing due to its lightweight, anti-corrosive and durable properties. The aluminum content in modern buildings can reach as high as 15-20%. This presents aluminum alloy producers an avenue to tap rising demand. Regions witnessing increased investments in building new commercial and residential projects, rail networks, roadways and power infrastructure will potentially serve as hotspots. Investments in renewable construction methods also open up possibilities.

Evolving industrial standards shape future market trends

Constant evolution of standards and regulations related to manufacturing, fuel efficiency, and emissions are reshaping industry demands and trends significantly. For example, the International Maritime Organization's low sulfur fuel standards mandate the usage of cleaner marine fuels. This is boosting lightweight aluminum usage in shipbuilding. Similarly, the aerospace industry is advancing towards more aluminum and composite intensive aircraft designs to meet carbon emission targets. New grades of heat treatable and corrosion resistant alloys are also gaining relevance. 3D printing technology is enabling net shape manufacturing using aluminum alloys. Changes in product certification standards also impact alloy compositions. Ongoing R&D to develop advanced alloys keeps the market innovating.

💎 You Can Purchase Complete Report @ https://www.coherentmarketinsights.com/insight/buy-now/4655

Top Companies Featured in This Report:

★ United Company RUSAL Plc
★ Alcoa Inc.
★ Aluminum Corp. of China Ltd.
★ Kaiser Aluminum Corporation
★ Norsk Hydro ASA
★ Dubai Aluminum Co.
★ Constellium
★ Kobe Steel Ltd.
★ Aluminum Bahrain B.S.C.

Market Segmentation:

By Product Type:

★ By End User: Transportation, Construction, Packaging, Machinery, Electrical, and Others (including consumer goods, etc.)

Key Regions/Countries Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

The report offers insights on the following aspects:

Chapter 1: Study Coverage

Chapter 2: Executive Summary

Chapter 3: Analysis of Aluminum Alloys Market Competition Landscape by Players

Chapter 4: Assessment of Aluminum Alloys Market Size by Type and Application

Chapter 5: Global and Regional Analysis

Chapter 6: Company Profiles, recent developments, and investments

Chapter 7: Analysis of Market Opportunities, Challenges, Risks, and Influencing Factors

Chapter 8: Evaluation of Value Chain and Sales Channels, including breakthrough product developments

Chapter 9: Research Findings and Conclusion

Chapter 10: Methodology/Research Approach

The report also delves into the competitive landscape, key players, trade patterns, industry value chain, recent news, policies, and regulations. Should you have any inquiries or require customization options, please don't hesitate to contact us.

In summary, whether you're engaged in manufacturing, distribution, or investment within the Aluminum Alloys sector, this report furnishes invaluable insights into market segments, drivers, challenges, investment prospects, regional dynamics, major players, growth strategies, prevailing trends, and hurdles influencing the industry's expansion.

💎 Request For Customization at: @ https://www.coherentmarketinsights.com/insight/request-customization/4655

Author Bio:

Priya Pandey is a dynamic and passionate editor with over three years of expertise in content editing and proofreading. Holding a bachelor's degree in biotechnology, Priya has a knack for making the content engaging. Her diverse portfolio includes editing documents across different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. Priya's meticulous attention to detail and commitment to excellence make her an invaluable asset in the world of content creation and refinement.

(LinkedIn- https://www.linkedin.com/in/priya-pandey-8417a8173/)

Contact Us

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
Email: sales@coherentmarketinsights.com
United States of America: +1-206-701-6702
United Kingdom: +44-020-8133-4027
Australia: +61-2-4786-0457
India: +91-848-285-0837

About Us

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.