Aluminum is the most extensively used metal in automobiles and commercial vehicles as it provides excellent safety and durability coupled with increase in fuel efficiency and reduced emissions. In addition, the demand for aluminum is accelerating in automobile applications owing to its strength and environmental benefits. The recyclability associated with aluminum has triggered its demand, which is expected to gain major traction in the coming years.
The growth in the automobile industry has fueled the demand for aluminum with applications in commercial and passenger vehicles. In addition, the performance benefits such as it lightweight and dent resistance associated with aluminum has increased its demand among automakers. Luxury vehicles such as Ford, Audi, and Mercedes Benz have increased the adoption of aluminum as a versatile material of choice in body structures including engine, transmission, and wheels. Furthermore, strict environmental measures against the increase in carbon dioxide emissions have fueled the demand for aluminum. The increase in demand for passenger cars has accelerated the demand for aluminum owing to consumer preferences towards lightweight vehicles. Furthermore, the demand for aluminum in heavy commercial vehicles is projected to create lucrative growth opportunities owing to rise in demand for transportation goods. Fluctuation in prices associated with aluminum coupled with increase in operational cost has hindered the market growth, but increase in applications of aluminum as an alternative to steel is expected to increase its demand in automotive applications.
North America is the major region for the automotive aluminum market followed by Europe. Rise is urbanization coupled with ecofriendly measures are expected to drive the market in Asia-Pacific and LAMEA.
The report on the global aluminum market is segmented based on vehicle type, application, and geography. Based on vehicle type, the report includes cars, buses, light commercial vehicles, and heavy commercial vehicles. Based on application, the market is bifurcated into body panels, hoods, frames, wheels, engine, transmission, suspension, and others. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Top market players in the global automotive aluminum market include Alcoa, Aluminum Corporation of China, Rio Tinto Alcan, BHP Billiton, Dubai Aluminum, Jindal Aluminum, Novelis, Vedanta Aluminum, Aleris International, and United Co. RUSAL.
Key Benefits For Stakeholders
- This report entails the detailed quantitative analysis of current market and estimations from 2014 to 2022 that assist in identifying the prevailing market opportunities to capitalize on the global automotive aluminum market.
- In-depth coverage of the market including drivers, restraints, and opportunities helps professionals to better understand the market behavior.
- Detailed study of the strategies of key leaders, partnerships, and acquisitions in the market is provided.
- Porters Five Forces analysis examines the competitive structure of the market and assists strategists in better decision-making.
- Pinpoint analysis of geographical segments helps to identify opportunities for growth within the market.
Global Automotive Aluminum Market Key Segments
By Type of Vehicles
- Light Commercial Vehicles
- Heavy Commercial Vehicles
- Body panels
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA