Summary

Global Automotive Aluminum Market is expected to grow at a significant rate of around 9% during the forecast period. Automotive Aluminum refers to the use of aluminum in the production of vehicles and automotive components. Aluminum is widely used in the automotive industry due to its lightweight, high-strength, and corrosion-resistant properties. Automotive aluminum is used in the manufacturing of various components and systems in vehicles, including body structures, engines, transmissions, wheels, and suspension systems. The use of aluminum in the automotive industry helps to reduce the weight of vehicles, resulting in improved fuel efficiency and reduced emissions. Additionally, aluminum can be molded into complex shapes, making it an ideal material for various automotive components. The increasing demand for fuel-efficient and lightweight vehicles has led to the growth of the automotive aluminum market, and the industry continues to invest in research and development to further improve the performance and properties of automotive aluminum.

Alcoa Corporation, UACJ Corporation, Rio Tinto, Norsk Hydro ASA, Novelis, Constellium, Jindal Aluminium Limited, AMG, ElringKlinger AG, and Dana Limited. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report
“Amongst product form, cast aluminum category is to witness the highest CAGR during the forecast period”
Based on product form, the market is segmented into cast aluminum, rolled aluminum, extruded aluminum, and others. The cast aluminum category is to witness the highest CAGR during the forecast period owing to the increasing demand for lightweight components made of cast aluminum for engines and powertrains that both improve fuel efficiency as well vehicle dynamics. In addition, cast aluminum is a type of aluminum that is heated to an extremely high temperature, and this highly heated aluminum is then molded into a shape of preference followed by cooling to produce a large type of product. It is highly used in the automobile industry to produce a variety of shapes and models of vehicles which is further escalating the growth of the market.

“Amongst vehicle type, the passenger car is expected to grow significantly during the forecast period”
On the basis of vehicle type, the market is categorized into passenger car, LCV, and HCV. Among these, the passenger car is expected to grow significantly during the forecast period. This is mainly due to its high use of aluminum in passenger cars making the vehicle lighter weight and high strength. That is further helping in improving fuel efficiency and reducing emissions in the vehicle. Additionally, aluminum has a longer lifespan than other materials, making it a cost-effective option for automakers. Thus, increasing the use of aluminum in passenger vehicles will increase the market growth of automotive aluminum.

“APAC is expected to grow with a robust CAGR during the forecast period”
In 2021, APAC is expected to grow with a robust CAGR during the forecast period. As countries such as China, India, and Japan are the major producer of automotive parts leading to drive the demand for automotive aluminum within the region. Since the increasing demand for fuel-efficient and lightweight vehicles, along with the increasing production of vehicles in the region, has led to the growth of the automotive aluminum market in the APAC region. Additionally, the region is increasing its focus on reducing emissions and improving fuel efficiency which led to a growing demand for lightweight aluminum components in the automotive industry. Additionally, the presence of several large aluminum producers and manufacturers in the region also contributes to the growth of the automotive aluminum market in the APAC region.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global automotive aluminum market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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