Aluminium Alloys Market to Garner US$ 287 Billion in 2032 - Fact.MR Exclusive Research

NEW YORK, Jan. 25, 2022 /PRNewswire/ -- The global aluminium alloys market is expected to grow at an annual rate of 8.1% from 2022 to 2032, from US$ 131 billion in 2022 to US$ 287 billion in 2032.

According to a market analysis by Fact.MR, a market research and competitive intelligence service, global volume consumption of aluminium alloys increased at a CAGR of roughly 6.5% over the past half-decade. By the end of 2021, global volume use of the metal was estimated to be about 54,360 kilo tonnes.

The transportation industry's use of aluminium alloys and the building and construction industry's use of aluminium alloys have been the two most profitable areas, accounting for the majority of aluminium alloy sales revenue.

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The market for aluminium alloys in China is enormous. The automobile, building and construction, and consumer electronics industries are the primary consumers of alloyed aluminium. In China, for example, automotive, along with building and construction, accounted for about 55 percent of total aluminium alloy sales in 2021.

In addition, China is a major producer of electric vehicles and a major market for vehicle sales. In China, for example, electric vehicles accounted for roughly 6.2 % car sales in 2021. Further, the trend is expected to improve, which will have a direct impact on the country's alloyed aluminium sales.

The automobile industry is shifting its focus toward the introduction of electric vehicles, which necessitate the widespread usage of aluminium alloys to compensate for the weight of lithium-ion batteries. Furthermore, governments around the world have been seen incentivizing electric vehicles, which has resulted in increased sales, creating a bright outlook for aluminium alloy producers.

"Overcapacity by Chinese smelters is being seen as an area of concern, and thus, governments globally can be seen imposing regulations to protect domestic production," says a Fact.MR analyst.

Key Takeaways:

• Over the forecast period, heat treatable aluminium alloy is expected to generate an absolute $ opportunity worth US$ 91 billion.
• By casting/operation, sand casting is expected to grow at a higher CAGR of roughly 8.7%.
• By application, aluminium alloy consumption in the automotive sector is expected to increase by 2.3X by 2032.
• By 2032, East Asia is expected to account for roughly 71% of the worldwide aluminium alloys market.
• By 2032, South Asia and Oceania would provide an absolute dollar opportunity worth US$ 9.6 billion.

Growth Drivers:

• Introduction of electric vehicles has propelled the demand for aluminium-tin alloys and it is expected to spur the aluminium alloy sales.
• Use of aluminium alloys in transportation industry and building & construction industry to drive the aluminium alloys market growth.

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Competitive Landscape

Leading competitors in the aluminium alloys market have gained market share by adopting a vertical integration strategy. This vertically integrated company structure has also helped market players lessen their reliance on alumina suppliers.

Furthermore, focusing on key specialty areas like alloy wheels has enhanced players' revenue generation potential and is expected to be the most profitable segment to invest in.

• In December 2021, Rusal announced a $12 million investment in the upgrading of its alloy car wheel production in SKAD, Russia. The company intends to broaden its commercial capabilities and target high-growth countries with rising aluminium alloy demand in Germany.
• In November 2021, BA Brazil stated that it had purchased around 80% of Alux, a secondary alloyed aluminium plant. CBA has invested much in expanding its production capacity and is expected to do so again in the foreseeable future.

Key players in the Aluminium Alloys Market include:

• Alcoa
• Aluar
• Alvance
• CBA
• Chalco
• Hydro
• Nortan aluminium
• Press Metal
• PT Inalum
• Rheinfelden alloys
• Rio Tinto
• Rusal
• Slovalco
• Trimet

More Valuable Insights on Aluminium Alloys Market

Fact.MR provides an unbiased analysis of the aluminium alloys market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global aluminium alloys market with a detailed segmentation on the basis of:

• Aluminium Alloys Market by Type:
• Heat Treatable Aluminium Alloys
• 2000 Series
• 4000 Series
• 6000 Series
• 7000 Series
• 8000 Series
• Non-Heat Treatable Aluminium Alloys
• 3000 Series
• 4000 Series
• 5000 Series
• Aluminium Alloys Market by Casting / Operation:
• Sand Casting Aluminium Alloys
• Investment Casting Aluminium Alloys
• Permanent Mold Casting Aluminium Alloys
• Die Casting Aluminium Alloys
• Others
• Aluminium Alloys Market by Application:
• Aluminium Alloys for Packaging
• Aluminium Alloys for Automotive
• Aluminium Alloys for Marine
• Aluminium Alloys for Consumer Durables
• Aluminium Alloys for Aerospace
• Aluminium Alloys for Building & Construction
  
  
• Aluminium Alloys Market by Alloy:
• Cast Aluminium Alloy
• Wrought Aluminium Alloys
• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Key Questions Covered in Aluminium Alloys Market Report

• The report offers insight into the aluminium alloys market demand outlook for 2022-2032.
• The market study also highlights projected sales growth for aluminium alloys market between 2022 and 2032.
• Aluminium alloys market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• Aluminium alloys market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

Explore Fact.MR's Coverage on the Chemical & Materials Domain –

High Purity Aluminium Market Trends – High purity aluminium market is expected to grow at a positive rate. Demand growth over this time period can be estimated just by looking at the quantity demanded across industries such as semiconductors, aircraft, automotive, and others.

Aluminum Sheet Market Forecast – A driving force for aluminum sheets is the growing demand for aluminium sheets that can endure extreme operating conditions such as extreme hot or cold. Aluminum sheets are commonly utilised in marine applications due to their outstanding anti-corrosion properties.

Aluminum Castings Market Analysis - The need for lightweight components made of alloys like aluminum is always increasing in developing nations due to rising vehicle manufacturing. Aluminum casting demand is expected to rise until 2029 as a result of increasingly stringent regulatory regulations around the world.

Titanium Alloys Market Scope - The Titanium Alloys market is expected to maintain its original trajectory in the post-COVID-19 period, thanks to rising end-use industries like as aerospace and defense, automobiles, and oil and gas processing.

About Fact.MR

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