Alloy Market for Automotive

Alloy Market for Automotive: Introduction

• An alloy is a mixture of more than two elements of which minimum one is a metal and other can be a non-metal. An alloy has the capability to retain all the properties of a metal in the final material, such as ductility, conductivity, malleability, opacity, and luster.
• Alloys may witness changes in their properties, which are different than the pure metal, such as increased strength or hardness. At times, an alloy may reduce the total cost of the material without hampering the key specifications. In certain cases, the alloy might impart harmonious properties to the constituent metal elements such as mechanical strength or corrosion resistance.
• Alloys are extensively utilized in the manufacture of automobiles by enhancing specific strength of a material, making the material more suitable for the application
• Most elements react with some element in nature to be more stable. Automobiles are designed to last for a long period as well endure harsh condition and frequent temperature changes. Therefore, a stable alloy can help ensure that all the required specifications are met by the material used in the assembly of the vehicle.

Key Drivers of Alloy Market for Automotive:

• As most elements react with outside elements and that can change the properties of the material. In order to avoid this from happening as well as in an effort to reduce natural reaction of elements alloys are used.
• Alloys can be customized to improve specific properties of material or overall stability as well as can be for cost reduction. It also provides to achieve specific property improvements of metals like improvements in tensile strength or corrosion resistance, etc. This helps maintaining basic properties of metals vital for the application.
• Weight reduction is a need for the industry to achieve better efficiency in vehicles. Hence efforts are made to develop lighter and stronger materials as well as provide a cost advantage over traditional materials alike steel or aluminum.

Alloy Market for Automotive to Offer Attractive Opportunities:

• With the rising demand of sports vehicles, manufacturers are looking for lighter material options as well as experimenting with different materials at different locations of vehicles. Alike use of magnesium roof to lower the center of gravity. Also use of Bronze as bearing material as it is strong and self-lubricating and has fast heat dissipation property.
• With such experiments with different materials many different type of materials is being developed and were put into production. Such changes make use of alloys more desirable.
• Different type of materials is being used in the places according to the need. This has helped manufacturers keep the cost of production low. As using combination of steel, high strength steel and ultra-high strength steel. This helps to make the vehicles strong and reduce the cost of vehicles.

Alloy Market for Automotive to hamper market:

• Newer options similar to composite materials provide lighter and stronger alternative. As, these are non-metallic materials, the chances of corrosion are minimum due to exposure to the environment or applications in harsh working conditions.
• In some cases, these materials are cheaper to manufacture as well as has higher life expectancy. Due to these factors several manufacturers have already started using composite materials instead of alloys.
• In any composition of metals, they are heavier and difficult to manufacture compared to non-metals. Metals need complex manufacturing processes to be made in to desired shape and size. Whereas these composite materials can be easily made into any shape and size. These factors make the manufacturers prefer composite materials more.

Alloy Market for Automotive to Expand Rapidly Globally:

• Companies are launching light metals to meet the demand for lighter vehicles. Also, the demand of electric vehicle is increasing due to stricter government’s vehicle emissions norms. Countries like India and China are developing markets with the highest demand for vehicles.
• The most vehicles used in Indian and Chinese markets uses steel as base material. With newer norms OEMs are switching to better grade alloys for making of safer and stronger vehicles.
• Aluminum based vehicles demand is seen on rise in Europe as it is lighter than steel and provide higher corrosion resistance than steel. As an added advantage due to snowy weather is several parts of the continent.

Key Players Operating in Alloy Market for Automotive:

The Alloy Market for Automotive is highly fragmented with top companies across the globe. Some of the key players operating in the global Alloy Market for Automotive are:

• Thyssenkrupp AG
• Novalis
• Essar Steel
• Hyundai Steel
• Arcelor Mittal SA
• Tata Steel
• Chalco
• Hongqiao
• Rusal
• Xinfa
• Rio Tinto Alcan
• Alcoa
• Emirates Global Aluminum
• Others

Alloy Market for Automotive: Research Scope

Alloy Market for Automotive, by Base Metal

• Aluminum
• Chromium
• Copper
• Iron
• Magnesium
• Nickel
• Titanium

Alloy Market for Automotive, by Sales Channel

• OEM
• Aftermarket

Alloy Market for Automotive, by Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • U.K.
  • Italy
  • Spain
  • Russia & CIS
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • ASEAN
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa