Global Automotive Aluminum Market Report Size, Trends & Growth Opportunity, By Product Type (Aluminum Castings, Aluminum Extrusion, Aluminum Sheets, Flat Rolled Products) By Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), By Application (Body panels, Hoods, Frames, Wheels, Engine, Transmission, Suspension, Others), By Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa) And Forecast Till 2027.
Global Automotive Aluminum Market
The Global Automotive Aluminum Market was worth USD 41 Billion in 2021 and is estimated to be USD 101.67 Billion growing at a CAGR of 12.15 % from 2022 to 2027.
Automotive aluminium is a type of aluminium sulphate that is derived from bauxite and contains a variety of elements such as vanadium oxides, silicon, aluminium hydroxide, titanium, chromium, Sulphur, sulfuric calcium, gallium, iron, and magnesium carbonates. Aluminum is much lighter than steel, has a high tensile strength, and is easy to moulds.
Aluminum is the most commonly used metal in automobiles and commercial vehicles because it offers excellent safety and durability while also increasing fuel efficiency and lowering emissions. Furthermore, because of its strength and environmental benefits, aluminium is becoming more popular in automotive applications. Aluminum's recyclability has fueled its demand, which is expected to grow significantly in the coming years.
Market Drivers
The global automotive aluminium market is expanding as a result of a significant increase in automobile production and sales. Aluminum is in high demand as an automotive component due to the dramatic increase in the number of people driving personal vehicles, particularly in Asia Pacific's growing economies.
The shift in customer preferences towards lighter-weight automobiles has resulted in an increase in demand for aluminium, which has led to an increase in demand for passenger cars. Furthermore, as a result of the surge in consumer demand for items that require transportation, the demand for aluminium in large commercial vehicles is expected to generate profitable growth prospects. It is expected that as the number of applications for aluminium as a steel substitute grows, so will the demand for aluminium in automotive applications.
Market Restraints
The growth of the automotive aluminium market has been hampered by price fluctuations and the high cost of aluminium in comparison to steel. As a result, other lightweight materials such as magnesium and reinforced plastic are expected to wreak havoc on the industry. During the forecast period, the growth of the Automotive Aluminium Market is expected to be hampered by aluminum’s higher manufacturing costs compared to steel. Automobile production growth is expected to be hampered by rising production costs. The Automotive-Aluminium-Market suffered from supply chain disruptions, demand share disparities, economic conditions, and the immediate and long-term effects of the COVID-19 pandemic. As a result of the crisis, the overall market's economic growth has slowed.
Market Segmentation
The Global Automotive Aluminium Market is segmented into Product Type (Aluminium Castings, Aluminium Extrusion, Aluminium Sheets, Flat Rolled Products), Vehicle Type (Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles), Application (Body panels, Hoods, Frames, Wheels, Engine, Transmission, Suspension, Others) and Region (North America, Europe, Asia Pacific, Latin America, Middle East & South Africa).
Regional Analysis
During the forecast period, the market in North America is expected to expand rapidly. Consumer preferences for fuel-efficient vehicles, strict CAFE or Corporate Average Fuel Efficiency/Economy regulatory requirements to improve vehicle fuel economy, proper implementation of yield strength standards, CAFE standards being used in the US to reduce energy demand by increasing fuel economy in large trucks, commercial vehicles, vans, and automobiles; rising discretionary income in the region; and beneficial government initiatives all contribute to the reduction of energy demand. Furthermore, the adoption of fuel-efficient vehicles is increasing in Asia Pacific countries such as India and China.
Increased vehicle sales in Asia Pacific, as well as higher per capita income due to an increase in the number of working people, are expected to provide profitable opportunities for the Asia Pacific automotive aluminium market.
Key Players
The Key Players in the Global Automotive Aluminium Market are Hindalco Industries Ltd., Alcoa Corporation, Kaiser Aluminium, Constellium, AMG Aluminium, Norsk Hydro ASA, Rio Tinto, Sapa Group, Novelis Aluminium, and ElringKlinger.
Market Taxonomy
Product Type
• Aluminium Castings
• Aluminium Extrusion
• Aluminium Sheets
• Flat Rolled Products
Vehicle Type
• Passenger Cars
• Light Commercial Vehicles
• Heavy Commercial Vehicles
Application
• Body panels
• Hoods
• Frames
• Wheels
• Engine
• Transmission
• Suspension
• Others
Regional Outlook
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and South Africa
Global Automotive Aluminium Market
1 Introduction
1.1 Objective of the Study
1.2 Market definition
1.3 Market Scope
2 Research Methodology
2.1 Data Mining
2.2 Validation
2.3 Primary Interviews
2.4 List of Data Sources
3 Executive Summary
4 Automotive Aluminium Market Outlook
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.2.4 Cumulative Impact due to recent Energy Crisis
4.2.5 Cumulative Impact due to nearing economic downturn
4.2.6 Post covid-19 world Supply& Demand conditions
4.2.7 Cumulative Impact of Russia-Ukraine Conflict
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 Automotive Aluminium Market, By Product Type
5.1 Y-o-Y Growth Comparison, By Product Type
5.2 Automotive Aluminium Market Share Analysis, By Product Type
5.3 Automotive Aluminium Market Size and Forecast, By Product Type
5.3.1 Aluminium Castings
5.3.2 Aluminium Extrusion
5.3.3 Aluminium Sheets
5.3.4 Flat Rolled Products
6 Automotive Aluminium Market, By Vehicle Type
6.1 Y-o-Y Growth Comparison, By Vehicle Type
6.2 Automotive Aluminium Market Share Analysis, By Vehicle Type
6.3 Automotive Aluminium Market Size and Forecast, By Vehicle Type
6.3.1 Passenger Cars
6.3.2 Light Commercial Vehicles
6.3.3 Heavy Commercial Vehicles
7 Automotive Aluminium Market, By Application
7.1 Y-o-Y Growth Comparison, By Application
7.2 Automotive Aluminium Market Share Analysis, By Application
7.3 Automotive Aluminium Market Size and Forecast, By Application
7.3.1 Body panels
7.3.2 Hoods
7.3.3 Frames
7.3.4 Wheels
7.3.5 Engine
7.3.6 Transmission
7.3.7 Suspension
7.3.8 Others
8 Automotive Aluminium Market, By Region
8.1 Automotive Aluminium Market Share Analysis, By Region
8.2 Automotive Aluminium Market Share Analysis, By Region
8.3 Automotive Aluminium Market Size and Forecast, By Region
9 North America Automotive Aluminium Market Analysis and Forecast (2022-2027)
9.1 Introduction
9.2 North America Automotive Aluminium Market Share Analysis, By Product Type
9.3 North America Automotive Aluminium Market Size and Forecast, By Vehicle Type
9.4 North America Automotive Aluminium Market Size and Forecast, By Application
9.5 North America Automotive Aluminium Market Size and Forecast, By Country
9.5.1 U.S.
9.5.2 Canada
9.5.3 Mexico
10 Europe Automotive Aluminium Market Analysis and Forecast (2022-2027)
10.1 Introduction
10.2 Europe Automotive Aluminium Market Share Analysis, By Product Type
10.3 Europe Automotive Aluminium Market Size and Forecast, By Vehicle Type
10.4 Europe Automotive Aluminium Market Size and Forecast, By Application
10.5 Europe Automotive Aluminium Market Size and Forecast, By Country
10.5.1 Germany
10.5.2 France
10.5.3 UK
10.5.4. Rest of Europe
11 Asia Pacific Automotive Aluminium Market Analysis and Forecast (2022-2027)
11.1 Introduction
11.2 Asia Pacific Automotive Aluminium Market Share Analysis, By Product Type
11.3 Asia Pacific Automotive Aluminium Market Size and Forecast, By Vehicle Type
11.4 Asia Pacific Automotive Aluminium Market Size and Forecast, By Application
11.5 Asia Pacific Automotive Aluminium Market Size and Forecast, By Country
11.5.1 China
11.5.2 Japan
11.5.3 India
11.5.4. Rest of Asia Pacific
12 Latin America Automotive Aluminium Market Analysis and Forecast (2022-2027)
12.1 Introduction
12.2 Latin America Automotive Aluminium Market Share Analysis, By Product Type
12.3 Latin America Automotive Aluminium Market Size and Forecast, By Vehicle Type
12.4 Latin America Automotive Aluminium Market Size and Forecast, By Application
12.4 Latin America Automotive Aluminium Market Size and Forecast, Country
12.5.1. Brazil
12.5.2. Rest of Latin America
13 Middle East Automotive Aluminium Market Analysis and Forecast (2022-2027)
13.1 Introduction
13.2 Middle East Automotive Aluminium Market Share Analysis, By Product Type
13.3 Middle East Automotive Aluminium Market Size and Forecast, By Vehicle Type
13.4 Middle East Automotive Aluminium Market Size and Forecast, By Application
13.5 Middle East Automotive Aluminium Market Size and Forecast, By Country
13.5.1. Saudi Arabia
13.5.2. UAE
13.5.3. Egypt
13.5.4. Kuwait
13.5.5. South Africa
14 Competitive Analysis
14.1 Competition Dashboard
14.2 Market share Analysis of Top Vendors
14.3 Key Development Strategies
15 Company Profiles
15.1 Hindalco Industries Ltd.
15.1.1 Overview
15.1.2 Offerings
15.1.3 Key Financials
15.1.4 Business Segment & Geographic Overview
15.1.5 Key Market Developments
15.1.6 Key Strategies
15.2 Alcoa Corporation
15.2.1 Overview
15.2.2 Offerings
15.2.3 Key Financials
15.2.4 Business Segment & Geographic Overview
15.2.5 Key Market Developments
15.2.6 Key Strategies
15.3 Kaiser Aluminium
15.3.1 Overview
15.3.2 Offerings
15.3.3 Key Financials
15.3.4 Business Segment & Geographic Overview
15.3.5 Key Market Developments
15.3.6 Key Strategies
15.4 Constellium
15.4.1 Overview
15.4.2 Offerings
15.4.3 Key Financials
15.4.4 Business Segment & Geographic Overview
15.4.5 Key Market Developments
15.4.6 Key Strategies
15.5 AMG Aluminium
15.5.1 Overview
15.5.2 Offerings
15.5.3 Key Financials
15.5.4 Business Segment & Geographic Overview
15.5.5 Key Market Developments
15.5.6 Key Strategies
15.6 Norsk Hydro ASA
15.6.1 Overview
15.6.2 Offerings
15.6.3 Key Financials
15.6.4 Business Segment & Geographic Overview
15.6.5 Key Market Developments
15.6.6 Key Strategies
15.7 Rio Tinto
15.7.1 Overview
15.7.2 Offerings
15.7.3 Key Financials
15.7.4 Business Segment & Geographic Overview
15.7.5 Key Market Developments
15.7.6 Key Strategies
15.8 Sapa Group
15.8.1 Overview
15.8.2 Offerings
15.8.3 Key Financials
15.8.4 Business Segment & Geographic Overview
15.8.5 Key Market Developments
15.8.6 Key Strategies
15.9 Novelis Aluminium
15.9.1 Overview
15.9.2 Offerings
15.9.3 Key Financials
15.9.4 Business Segment & Geographic Overview
15.9.5 Key Market Developments
15.9.6 Key Strategies
15.10 ElringKlinger
15.10.1 Overview
15.10.2 Offerings
15.10.3 Key Financials
15.10.4 Business Segment & Geographic Overview
15.10.5 Key Market Developments
15.10.6 Key Strategies
