Automotive Aluminum Market Forecasts to 2028 – Global Analysis By Product (Cast, Rolled), Application (Powertrain, Car Body), Vehicle (LCV, HCV), and By Geography
According to Stratistics MRC, the Global Automotive Aluminum Market is accounted for $36.80 billion in 2020 and is expected to reach $81.80 billion by 2028 growing at a CAGR of 10.5% during the forecast period. Increasing demand for lightweight and efficient materials, growing vehicle production and strict government regulations are driving the market growth. However, high production cost is hampering the growth of the market.
Aluminum is the most extensively used metal in automobiles automobiles owing to its properties such as being lightly weighted, corrosion resistance, high strength, and electrical and thermal conductivity and in commercial vehicles as it provides excellent safety and durability coupled with increase in fuel efficiency and reduced emissions.
Based on the product, the rolled segment is going to have lucrative growth during the forecast period as the rolled aluminum allows the manufacturer to be presented in different forms such as plates, foils, and sheets. The use of this form of aluminum allows more flexibility and increases the application of the material in modern industries. By geography, Asia Pacific is going to have high growth during the forecast period due to the increasing demand for luxury vehicle on account of the presence of disposable income in the region.
Some of the key players profiled in the Automotive Aluminum Market include Novelis Inc., Constellium N.V., Rio Tinto, Dana Holding Corporation, Thermotec Automotive Products, Federal-Mogul Holding Corporation, Norsk Hydro ASA, Alcoa Inc, Lorin Industries and Aleris Corporation.
• Sport Utility Vehicles (SUVs) & Crossovers
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)
• Multi- Purpose Vehicles
• Car Body
• Chassis & Suspension
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
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- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
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- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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