Automotive Aluminum Market
PUBLISHED: 2022 ID: SMRC21656
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Automotive Aluminum Market

Automotive Aluminum Market Forecasts to 2028 - Global Analysis By Product (Cast, Rolled), Application (Powertrain, Car Body), Vehicle (LCV, HCV), and By Geography

4.1 (38 reviews)
4.1 (38 reviews)
Published: 2022 ID: SMRC21656

This report covers the impact of COVID-19 on this global market
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Years Covered

2020-2028

Estimated Year Value (2022)

US $44.20 BN

Projected Year Value (2028)

US $81.35 BN

CAGR (2022 - 2028)

10.7%

Regions Covered

North America, Europe, Asia Pacific, South America, and Middle East & Africa

Countries Covered

US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa

Largest Market

Asia Pacific

Highest Growing Market

North America


According to Stratistics MRC, the Global Automotive Aluminum Market is accounted for $44.20 billion in 2022 and is expected to reach $81.35 billion by 2028 growing at a CAGR of 10.7% during the forecast period. 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.

Aluminium material can be recycled after the vehicle’s lifespan ends, which is the main advantage of using aluminium material in automotive applications. Almost 90% of automotive aluminium scrap materials are recycled annually. A single ton of recycled aluminium scrap creates an energy-savings equivalent of approximately 2,300 gallons of gasoline. This is anticipated to boost sales of automotive aluminium extruded parts across the globe.



Market Dynamics:

Driver:

The increasing penetration of vehicle consumers

Due to the increasing of vehicle usage there is a rise to the production of the vehicles. Moreover, the demand for the utilization of fuel-efficient vehicles influences the market growth.

Restraint:

High cost associated with the production of automotive aluminum products 

Demand for aluminum is generally high and it’s produced more than any other non-ferrous metal. Related to cost are aluminum production technologies that are not yet advanced enough to produce aluminum components at low enough price points for aluminum to compete with traditional automotive materials.

Opportunity:

Growing adoption of aluminium from manufacturing industry

Strict government regulations encouraging the rising utilization of eco-friendly and lightweight items in the manufacturing of vehicles significantly boost the use of aluminum in automobiles. The advantage of aluminum being recyclable adds to the government demands, as 90% of aluminum of automobiles is recycled. Furthermore, aluminum is light in mass compared to steel, which makes the aluminum vehicles light in weight than steel.

The rolled segment is expected to be the largest during the forecast period

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.

The chassis & suspension segment is expected to have the highest CAGR during the forecast period

The chassis of a car is considered one of the most significant structures. It holds the body of the vehicle and its power train. The chassis offers strength to support different vehicular components and keep keeping the automobile rigid and stiff. Moreover, It ensures a low level of vibrations and noise, the harshness of the vehicle. The use of aluminum in the chassis makes it light in weight and durable. Suspension reduces the jerks in the vehicle and absorbs the shock during driving.

Region with largest share:

Asia Pacific is projected to hold the largest market share due to the increasing demand for luxury vehicle on account of the presence of disposable income in the region. Asia Pacific is the major contributor to the rise in production. The substantial growth in passenger vehicles use has boosted the preference for aluminum use in automobiles. The increasing population across the globe has increased the use of automobiles, which has boosted aluminum use. China, the US, and Asia Pacific are the key regions to propel aluminum use worldwide.

Region with highest CAGR:

North America is projected to have the highest CAGR due to the implementation of Corporate Average Fuel Economy (CAFE) standards in the region, which made automobile companies to strive for fuel efficiency of 27.5 miles per gallon (mpg) for cars and 23.5 miles per gallon (mpg) for trucks and 37.8 miles per gallon for cars (mpg) and 28.8 miles per gallon (mpg) for trucks within the next few years. Thus, automobile companies in the North American region prefer aluminum over steel as it helps to achieve improved aerodynamics and reduces weight of vehicles, thereby resulting in fuel savings.



Key players in the market:

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.

Key developments:

In September 2021: Novelis Inc., expanded its partnership with the Georgia Institute of Technology (Georgia Tech) with a focus on materials and process research to help Novelis fulfill its purpose of shaping a sustainable world together and reach a net zero carbon footprint.

In July 2020: Alcoa Inc partnered with Gränges AB aimed at reducing the aluminium value chain’s impact upon the climate.

Products Covered:
• Extruded
• Cast
• Rolled

Vehicles Covered:
• Cars
• Sport Utility Vehicles (SUVs) & Crossovers
• Light Commercial Vehicles (LCV)
• Heavy Commercial Vehicles (HCV)
• Multi- Purpose Vehicles

Applications Covered:
• Car Body
• Chassis & Suspension
• Powertrain
 
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan       
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 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
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

 

Table of Contents

1 Executive Summary      
       
2 Preface      
 2.1 Abstract     
 2.2 Stake Holders     
 2.3 Research Scope     
 2.4 Research Methodology     
  2.4.1 Data Mining    
  2.4.2 Data Analysis    
  2.4.3 Data Validation    
  2.4.4 Research Approach    
 2.5 Research Sources     
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions    
       
3 Market Trend Analysis      
 3.1 Introduction     
 3.2 Drivers     
 3.3 Restraints     
 3.4 Opportunities     
 3.5 Threats     
 3.6 Product Analysis     
 3.7 Application Analysis     
 3.8 Emerging Markets     
 3.9 Impact of Covid-19     
       
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry     
       
5 Global Automotive Aluminum Market, By Product      
 5.1 Introduction     
 5.2 Extruded     
 5.3 Cast     
  5.3.1 Sand Casting    
  5.3.2 Die Casting    
  5.3.3 Permanent Mold Casting    
 5.4 Rolled     
  5.4.1 Sheet    
  5.4.2 Foil    
  5.4.3 Plate    
       
6 Global Automotive Aluminum Market, By Vehicle      
 6.1 Introduction     
 6.2 Cars     
  6.2.1 Mid - Size Cars    
  6.2.2 Small Cars    
  6.2.3 Large Cars    
  6.2.4 Passenger Car    
  6.2.5 Compact Cars    
 6.3 Sport Utility Vehicles (SUVs) & Crossovers     
 6.4 Light Commercial Vehicles (LCV)     
 6.5 Heavy Commercial Vehicles (HCV)     
  6.5.1 Buses     
  6.5.2 Pickup Trucks    
 6.6 Multi- Purpose Vehicles     
       
7 Global Automotive Aluminum Market, By Application      
 7.1 Introduction     
 7.2 Car Body     
  7.2.1 Hang-On Parts    
  7.2.2 Body Structural Components/Body panels    
  7.2.3 Car Interiors    
  7.2.4 Roof and Trim    
  7.2.5 Frames    
  7.2.6 Hoods    
 7.3 Chassis & Suspension     
  7.3.1 Suspension Parts    
  7.3.2 Break Systems    
  7.3.3 Steering System    
  7.3.4 Wheels    
 7.4 Powertrain     
  7.4.1 Heat Shields    
  7.4.2 Engine Blocks    
  7.4.3 Heat Exchangers/Transfer    
  7.4.4 Transmission    
  7.4.5 Pistons    
  7.4.6 Fuel Systems    
       
8 Global Automotive Aluminum Market, By Geography      
 8.1 Introduction     
 8.2 North America     
  8.2.1 US    
  8.2.2 Canada    
  8.2.3 Mexico    
 8.3 Europe     
  8.3.1 Germany    
  8.3.2 UK    
  8.3.3 Italy    
  8.3.4 France    
  8.3.5 Spain    
  8.3.6 Rest of Europe    
 8.4 Asia Pacific     
  8.4.1 Japan     
  8.4.2 China    
  8.4.3 India    
  8.4.4 Australia    
  8.4.5 New Zealand    
  8.4.6 South Korea    
  8.4.7 Rest of Asia Pacific    
 8.5 South America     
  8.5.1 Argentina    
  8.5.2 Brazil    
  8.5.3 Chile    
  8.5.4 Rest of South America    
 8.6 Middle East & Africa     
  8.6.1 Saudi Arabia    
  8.6.2 UAE    
  8.6.3 Qatar    
  8.6.4 South Africa    
  8.6.5 Rest of Middle East & Africa    
       
9 Key Developments      
 9.1 Agreements, Partnerships, Collaborations and Joint Ventures     
 9.2 Acquisitions & Mergers     
 9.3 New Product Launch     
 9.4 Expansions     
 9.5 Other Key Strategies     
       
10 Company Profiling      
 10.1 Novelis Inc.     
 10.2 Constellium N.V.     
 10.3 Rio Tinto      
 10.4 Dana Holding Corporation     
 10.5 Thermotec Automotive Products     
 10.6 Federal-Mogul Holding Corporation     
 10.7 Norsk Hydro ASA     
 10.8 Alcoa Inc     
 10.9 Lorin Industries     
 10.10 Aleris Corporation     
       
List of Tables       
1 Global Automotive Aluminum Market Outlook, By Region (2020-2028) ($MN)      
2 Global Automotive Aluminum Market Outlook, By Product (2020-2028) ($MN)      
3 Global Automotive Aluminum Market Outlook, By Extruded (2020-2028) ($MN)      
4 Global Automotive Aluminum Market Outlook, By Cast (2020-2028) ($MN)      
5 Global Automotive Aluminum Market Outlook, By Sand Casting (2020-2028) ($MN)      
6 Global Automotive Aluminum Market Outlook, By Die Casting (2020-2028) ($MN)      
7 Global Automotive Aluminum Market Outlook, By Permanent Mold Casting (2020-2028) ($MN)      
8 Global Automotive Aluminum Market Outlook, By Rolled (2020-2028) ($MN)      
9 Global Automotive Aluminum Market Outlook, By Sheet (2020-2028) ($MN)      
10 Global Automotive Aluminum Market Outlook, By Foil (2020-2028) ($MN)      
11 Global Automotive Aluminum Market Outlook, By Plate (2020-2028) ($MN)      
12 Global Automotive Aluminum Market Outlook, By Vehicle (2020-2028) ($MN)      
13 Global Automotive Aluminum Market Outlook, By Cars (2020-2028) ($MN)      
14 Global Automotive Aluminum Market Outlook, By Mid - Size Cars (2020-2028) ($MN)      
15 Global Automotive Aluminum Market Outlook, By Small Cars (2020-2028) ($MN)      
16 Global Automotive Aluminum Market Outlook, By Large Cars (2020-2028) ($MN)      
17 Global Automotive Aluminum Market Outlook, By Passenger Car (2020-2028) ($MN)      
18 Global Automotive Aluminum Market Outlook, By Compact Cars (2020-2028) ($MN)      
19 Global Automotive Aluminum Market Outlook, By Sport Utility Vehicles (SUVs) & Crossovers (2020-2028) ($MN)      
20 Global Automotive Aluminum Market Outlook, By Light Commercial Vehicles (LCV) (2020-2028) ($MN)      
21 Global Automotive Aluminum Market Outlook, By Heavy Commercial Vehicles (HCV) (2020-2028) ($MN)      
22 Global Automotive Aluminum Market Outlook, By Buses (2020-2028) ($MN)      
23 Global Automotive Aluminum Market Outlook, By Pickup Trucks (2020-2028) ($MN)      
24 Global Automotive Aluminum Market Outlook, By Multi- Purpose Vehicles (2020-2028) ($MN)      
25 Global Automotive Aluminum Market Outlook, By Application (2020-2028) ($MN)      
26 Global Automotive Aluminum Market Outlook, By Car Body (2020-2028) ($MN)      
27 Global Automotive Aluminum Market Outlook, By Hang-On Parts (2020-2028) ($MN)      
28 Global Automotive Aluminum Market Outlook, By Body Structural Components/Body panels (2020-2028) ($MN)      
29 Global Automotive Aluminum Market Outlook, By Car Interiors (2020-2028) ($MN)      
30 Global Automotive Aluminum Market Outlook, By Roof and Trim (2020-2028) ($MN)      
31 Global Automotive Aluminum Market Outlook, By Frames (2020-2028) ($MN)      
32 Global Automotive Aluminum Market Outlook, By Hoods (2020-2028) ($MN)       
33 Global Automotive Aluminum Market Outlook, By Chassis & Suspension (2020-2028) ($MN)      
34 Global Automotive Aluminum Market Outlook, By Suspension Parts (2020-2028) ($MN)      
35 Global Automotive Aluminum Market Outlook, By Break Systems (2020-2028) ($MN)      
36 Global Automotive Aluminum Market Outlook, By Steering System (2020-2028) ($MN)      
37 Global Automotive Aluminum Market Outlook, By Wheels (2020-2028) ($MN)      
38 Global Automotive Aluminum Market Outlook, By Powertrain (2020-2028) ($MN)      
39 Global Automotive Aluminum Market Outlook, By Heat Shields (2020-2028) ($MN)      
40 Global Automotive Aluminum Market Outlook, By Engine Blocks (2020-2028) ($MN)      
41 Global Automotive Aluminum Market Outlook, By Heat Exchangers/Transfer (2020-2028) ($MN)      
42 Global Automotive Aluminum Market Outlook, By Transmission (2020-2028) ($MN)      
43 Global Automotive Aluminum Market Outlook, By Pistons (2020-2028) ($MN)      
44 Global Automotive Aluminum Market Outlook, By Fuel Systems (2020-2028) ($MN)      
       
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

 

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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