Global Aluminum Market for the Automotive Industry 2016-2020
- Published: Jun 2016
- Pages: 86
- SKU: IRTNTR9804
The 2021-2025 version of this report is just being published. Buy it now and get up to $1000 worth of free customization!
This market research report identifies players like Alcoa, Aleris, Chalco, Constellium, Norsk Hydro, and Novelis to be the key vendors in the global aluminum market for the automotive industry. This market research analysis also presents a detailed segmentation of the market by type (castings and forgings, extrusion, and rolled products) and by geography (APAC, Central and South America, Europe, North America, and ROW).
Overview of the global aluminum market for the automotive industry
Technavio’s market research analyst predicts the global aluminum market for the automotive industry to grow at a CAGR of more than 4% between 2016 and 2020. With the developing transport sector, the usage of aluminum has gained momentum among the automobile manufacturers due to its efficiency, cost effectiveness, sustainability, safety, durability, and performance. The demand for aluminum and other non-ferrous materials in the automotive industry is also increasing rapidly for the development of lightweight and high-quality products. The automotive manufacturers are using non-ferrous casting materials, such as alloys of aluminum, zinc, and magnesium, as these materials are lightweight, resistant to corrosion, and have high conductivity. The growing demand for lightweight, faster, and fuel efficient vehicles will result in greater applications of aluminum in the automotive industry in the coming years.
Owing to the growing preference for comfort in vehicles, the demand for automotive noise, vibration, and harshness (NVH) materials is on the rise. Automotive NVH materials such as aluminum-based composite materials reduce the unwanted NVH in automobiles. These materials perform either acoustic absorption or acoustic insulation functions to absorb the noise and prevent it from entering the inside of the vehicle and add to the overall driving comfort. In this market, the manufacturers are focusing on the development of light vehicles that have low NVH levels and offer a better mileage.
Competitive landscape and key vendors
The market is highly fragmented due to the presence of many vendors; however, the top players account for a major part of the overall market share and will lead this market during the next four years. This market is marked by rapid technological advancements and frequent changes in consumer preferences. The influx of private labels is very high in the market which, in turn, has intensified the level of competition. The market will also witness several new entries that will pose a tough challenge to the established players as these players will offer advanced and innovative products at reasonable prices.
Leading players in the market are -
- Norsk Hydro
Other prominent vendors in the aluminum market for the automotive industry include Norsk Hydro, Rio Tinto, RUSAL, and Kaiser Aluminum.
Segmentation by type and analysis of the aluminum market for the automotive industry
- Castings and forgings
- Rolled products (plates and sheets)
The aluminum casting and forging segment dominates the market and accounted for around 45% of the overall market share in 2015. Automotive manufacturers are increasingly using aluminum forged products due to their high strength, reliability, and economic viability. Moreover, in order to comply with stringent emission norms, the manufacturers are using aluminum casting products in the automated processes. APAC is the largest market for aluminum casting and forged parts.
Geographical segmentation and analysis of the aluminum market for the automotive industry
- Central and South America
- North America
APAC is the largest and fastest growing market for automotive aluminum products and occupied more than 49% of the overall market revenue in 2015. Much of this region’s growth can be attributed to the increase in the production of passenger cars and the light commercial vehicles in China and India during the forecast period. The strict regulations and initiatives towards emission reduction have increased the demand for aluminum in the automotive industry. The metal is also massively used in the body and bumper, suspension, steering, wheels, engine, and brakes of automobiles.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global aluminum market for the automotive industry?
- What are the key market trends impacting the growth of the global aluminum market for the automotive industry?
- What are the challenges to market growth?
- Who are the key vendors in the global aluminum market for the automotive industry?
- What are the market opportunities and threats faced by the vendors in the global aluminum market for the automotive industry?
- Trending factors influencing the market shares of APAC, Central and South America, Europe, North America, and ROW.
- What are the key outcomes of the five forces analysis of the global aluminum market for the automotive industry?
Technavio also offers customization on reports based on specific client requirement.
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
Get your FREE sample now!
Get the report (PDF) sent to your email within minutes.
Subscribe & Save
Get lifetime access to our
Did you know?
Did you know?
Did you know?
Want to customize this report?
This report can be personalized according to your needs. Our analysts and industry experts will work directly with you to understand your requirements and provide you with customized data in a short amount of time.