According to IMARC Group’s latest report, titled “Automotive Aluminum Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global automotive aluminum market reached a value of US$ 22.34 Billion in 2020. Looking forward, the market is expected to exhibit strong growth during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Aluminum is extensively used in the automotive industry in different forms of castings, extrusions, and sheets to produce vehicular components. The aluminum used in passenger and commercial vehicles is lightweight and offers high stability, durability, and cost-effectiveness. It helps the vehicle to accelerate faster and withstand a higher level of shock in the case of a collision or crash.
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The exponentially growing automotive industry extensively utilizes aluminum in passenger cars, commercial trucks, buses, etc. The rising demand for automotive aluminum based on the high tensile strength, recyclability, corrosion resistance, better thermal and electrical conductivity, further drives the market growth. Additionally, the market is fueled by the growing adoption of robotics technology in the assembly lines for optimized manufacturing. Moreover, the increasing utilization of secondary or recycled aluminum and aluminum alloys for minimizing carbon emissions is also driving the market. In addition to this, the growing consumer purchasing power, along with expanding vehicular fleet, further propels the demand for automotive aluminum. Moreover, the implementation of several government initiatives to reduce greenhouse gases in the automotive manufacturing industry is anticipated to proliferate the market for automotive aluminum.
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List of Key Companies Covered in this Market Report:
- Alcoa Inc. (NYSE: AA)
- Aleris Corporation
- Rio Tinto Alcan
- Amg Advanced Metallurgical
- UACJ Corporation
- Norsk Hydro ASA
- Dana Holding Corporation
- Progress-Werk Oberkirch AG
- Jindal Aluminium
- Kaiser Aluminum
- Lorin Industries
- Federal-Mogul Holding Corporation
- ElringKlinger AG
- ThermoTec Automotive
The report has segmented the market on the basis of product form, vehicle type, application and geography.
Breakup by Product Form:
- Cast Aluminum
- Rolled Aluminum
- Extruded Aluminum
Breakup by Vehicle Type:
- Passenger Cars
- Light Commercial Vehicles (LCV)
- Heavy Commercial Vehicles (HCV)
Breakup by Application:
- Chassis & Suspension
- Car Body
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021- 2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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