Automotive Aluminum Market Research, 2033
The global automotive aluminum market was valued at $26.2 billion in 2023, and is projected to reach $60.6 billion by 2033, growing at a CAGR of 8.7% from 2024 to 2033.
Market Introduction and Definition
Automotive aluminum refers to aluminum and its alloys specifically designed and utilized for various components and structures within vehicles. These components include body panels, engine blocks, wheels, chassis, suspension systems, and other parts. Automotive aluminum is favored in the automotive industry due to its lightweight properties, which contribute to improved fuel efficiency, handling, and overall performance of vehicles. Additionally, aluminum offers excellent corrosion resistance and recyclability, making it an environmentally sustainable choice for automotive applications.
Key Takeaways
- The automotive aluminum market study covers 20 countries. The research includes a segment analysis of each country in terms of value ($Billion) for the projected period 2023-2033.
- More than 1,850 product literatures, industry releases, annual reports, and other such documents of major automotive aluminum industry participants along with authentic industry journals, trade associations' releases, and government websites have been reviewed for generating high-value industry insights.
- The study integrated high-quality data, professional opinions and analysis, and critical independent perspectives. The research approach is intended to provide a balanced view of global markets and to assist stakeholders in making educated decisions to achieve their most ambitious growth objectives.
Key Market Segments
- By Form
- Sheet
- Plate
- Bar
- Tube
- Others
- By Vehicle Type
- Light Commercial Vehicle
- Heavy Commercial Vehicle
- Passenger Car
- Others
- By Application
- Hood
- Pillars
- Hinges
- Motors
- Sunroof Railings
- Others
- By Region
- North America
- Europe
- France
- Germany
- Italy
- Spain
- UK
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- Saudi Arabia
- Rest of LAMEA
Key Market Players
- Dana Limited.
- Arconic
- Novelis Inc.
- Vedanta Aluminium & Power
- BALCO
- UACJ Corporation.
- Rio Tinto
- Alcoa Corporation
- Nippon Light Metal Holdings Co., Ltd
- Kaiser Aluminum