Automotive Aluminum Alloy Market (By Vehicle - Passenger Car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), Others; By Application - Powertrain, Structural, Exterior, Others) - Global Industry Size, Share, Trends and Forecast, 2018 - 2026

Introduction

Aluminum is one of the most widely used in the manufacturing of the various frames and parts for automotive vehicles. It is obtained from bauxite and is one of the most preferred material in various sectors. In pure form aluminum does not possesses high tensile strength but addition of alloying elements gives it high tensile strength. Being versatile in nature they are widely used in the manufacturing of the automotive parts in cold climate. Among all aluminum is much cheaper than the other available alternatives which makes it an ideal choice of material.

Market Dynamics

The major driving factor for the market is increasing demand for the automotive vehicles, light weight of the material, and increasing demand for the better material for the manufacturing. Aluminum can work in cold environments also and its tensile strength increases in cold temperatures which has led to increase the demand for the material in cold environment. Being lighter than copper and steel it helps in less fuel consumption. All this above factor will be led to boost the growth of the market during the forecasted period. Additionally, the properties like excellent corrosion resistance, durability, toughness, electrical conductivity and thermal conductivity will help in supporting the growth of the market.

However, the is fluctuation of prices in raw materials can significantly restrain the growth of the market.

Market Classification and Overview

The global automotive aluminum alloy market is segmented into types of vehicles and application. On the basis of type of vehicle, the global automotive aluminum alloys market segmented into passenger car, Light Commercial Vehicle (LCV), Heavy Commercial Vehicle (HCV), and others. On the basis of application, the global automotive aluminum alloys market is segmented into Powertrain, Structural, Exterior and others.

Regional Overview

Geographically, the market is bifurcated into four major regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA).

APAC is expected to dominate the market owing to the increasing production capacity of automotive components, especially, in the countries such as Japan, Korea, and China. Additionally, rapid development in urbanization and increasing buying power have led to increase the demand for commercial vehicles, which in turn affected the growth of the market positively.

North America is expected to hold the handsome share owing to the increasing demand for the aluminum alloy from automotive sectors, well developed automotive sector, and increasing government support. Increasing focus on fuel efficiency and forcing the manufacturers to meet the consumers demand has made the vehicles lighter and safe is also boosting the market in North America.

In Europe, availability of large investments by European automobile companies and presence of huge players is driving the market. However, LAMEA is expected to have the steady growth owing to the limited development in automotive sector. The Middle East region holds the major share in the market owing to the high spending power and huge demand for the automotive aluminum alloy.

Report Coverage

Market Participants

The market comprises of some of the major players such as Aalco Metals Limited, United Aluminum, Hydro, RUSAL, Atlas Steels, AlcoTec Wire Corporation, Borbet, ELVAL, Wilsons Ltd, Ronal Wheels, Comet Metals, Stena Aluminium.

Market Segmentation

Market by Vehicle

• Passenger Car
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
• Others

Market by Application

• Powertrain
• Structural
• Exterior
• Others

Market by Geography

• North America
  • US
  • Canada
  • Mexico
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa (MEA)
  • South Africa
  • Saudi Arabia
  • Rest of MEA