Automotive Aluminum Market was around USD 56.75 Billion by revenue, at the end of 2018. It is expected to grow at a CAGR of 8.86 % to reach close to USD 86.76 Billion by the end of the forecast period.
The Automotive Aluminum Market has a slow growth pace in the global market which is mainly driven by the demand for lightweight automotive components which are used in the engine and parts of the vehicle to have a fuel-efficient automobile eventually. The Automotive Aluminum Market is expected to reach a total of USD 86.76 Billion by the end of 2023 with an 8.86 % CAGR.Automotive Aluminum Advisors have announced that three former leaders and experts of Alcoa will be joining to its team, to assemble one of the most sophisticated advanced aluminum technology and engineering consulting teams in the world.
Automotive Aluminum Market Drivers and Restraints:
The global market is mainly driven by the increased usage of the Automotive Aluminum in engine component making, which eventually increases the overall fuel efficiency of the vehicles. Also, the demand for Aluminum in the powertrain application is another primary driver to the groe=wth of the global market in the forecast, as mentioned earlier period.However, the costs associated may restrain the market in the forecast period. Also, the market concentration in regions like the Asia Pacific restrains the market expansion into regions like the Middle East and Africa.
Automotive Aluminum Market Segmentation Analysis:
By Product Form
Based on the form of the product, the global market for automotive Aluminum is segmented into Cast Aluminum, Rolled Aluminum, & Extruded Aluminum. Among the mentioned form of product, the cast aluminum segment is accounted for the largest market share both in terms of volume and value. This segment is also expected to have the fastest growth rate in the forecast period mainly due to the increasing demand for lightweight components made from cast Aluminum for engines and powertrains which help improve both fuel efficiency as well as overall dynamics of the vehicles.
By Application
Based on the application of the Aluminum, the global automotive aluminum market is categorized into Powertrain, Chassis & Suspension, & Car Body. Of the mentioned applications, the powertrains segment is the fastest growing and is considered to be the largest among others. The growth is mainly attributed to the increased usage of Aluminum in automotive manufacturing in major regions like the Asia Pacific and North America.
By Vehicle Type
Based on the type of vehicle, the market is divided into Passenger Car, LCV, and HCV. Of the mentioned types of vehicles, the passenger car is the fastest growing segment which leads the global market mainly due to the demand from the public for passenger cars and the need for lightweight automobiles.
Automotive Aluminum Market Geographical Analysis:
By geography, the market is segmented as Latin America, Europe, Asia Pacific, North America, and Middle-East & Africa. North America is in the lead of the Global Automotive Aluminum Market by both value and volume, as of 2018. The situation of many key market players in this region with well-established infrastructure is the main reason for its market position. However, this region is only the second fastest growing region in the global market, following the Asia Pacific.The Asia Pacific region holds the next most significant share of the Global Automotive Aluminum Market in the year of 2018, in terms of value and volume. The regional advantages offered this region, such as ease of company setup, cheap resources, and a large number of the skilled population are the major reasons for the fast-emerging industries in this region, hence the region’s position in the global market. Also, the fast-developing economies like India, Japan, and China are the main reason for the developing regional market. These reasons make this region the fastest growing regional market in the proposed forecast period.Europe is next in the lead of the global market in the year 2018. The presence of a considerable customer base in and around this region is helping in the growth of the Automotive Aluminum Market in this region. This region is only the third fastest growing region in the global market in the projected forecast period.On the other hand, the Middle East & Africa and Latin America regions, being in the slow developing countries, have fewer opportunities for market growth. Hence, the market growth is at a slow pace in these regions.
Automotive Aluminum Market Key Market Players:
By the end of 2018 Novelis Inc. (U.S.), Constellium N.V. (Netherlands), UACJ Corporation (Japan), AMG Advanced Metallurgical Group (Netherlands), Alcoa Inc./Arconic Inc. (U.S.), CHALCO (China), Rio Tinto (U.K.), and Norsk Hydro ASA (Norway) are the leading shareholders of the global market for Automotive Aluminum Market. There is a constant competition between these companies regarding the pricing and quality of the product.
Automotive Aluminum Market Research Report Key Highlights:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Form
5.1.1 Introduction
5.1.2 Cast Aluminum
5.1.3 Rolled Aluminum
5.1.4 Extruded Aluminum
5.1.5 Y-o-Y Growth Analysis, By Product Form
5.1.6 Market Attractiveness Analysis, By Product Form
5.1.7 Market Share Analysis, By Product Form
5.2 Application
5.2.1 Introduction
5.2.2 Powertrain
5.2.3 Chassis & Suspension
5.2.4 Car Body
5.2.5 Y-o-Y Growth Analysis, By Application
5.2.6 Market Attractiveness Analysis, By Application
5.2.7 Market Share Analysis, By Application
5.3 Vehicle Type
5.3.1 Introduction
5.3.2 Passenger Car
5.3.3 LCV
5.3.4 HCV
5.3.5 Y-o-Y Growth Analysis, By Vehicle Type
5.3.6 Market Attractiveness Analysis, By Vehicle Type
5.3.7 Market Share Analysis, By Vehicle Type
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Product Form
6.1.3.3 By Application
6.1.3.4 By Vehicle Type
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Product Form
6.1.4.3 By Application
6.1.4.4 Vehicle Type
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Product Form
6.1.5.3 By Application
6.1.5.4 By Vehicle Type
6.2 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.3 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.4 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 Australia
6.3.6 South Korea
6.5 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.6 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Novelis Inc.
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Constellium N.V.
8.3 UACJ Corporation
8.4 AMG Advanced Metallurgical Group
8.5 Alcoa Inc./Arconic Inc.
8.6 CHALCO
8.7 Rio Tinto
8.8 Norsk Hydro ASA
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
