Aluminum alloys, in general, are the alloys, wherein an alloying metal is added to the base metal (aluminum) to enhance the properties of pure aluminum and make it suitable for specific applications. Aluminum alloys are used in the manufacture of automotive components, aerospace components, marine components, construction elements, packaging products, electrical parts, sports goods and various consumer goods. Light weight of aluminum and better properties infused through alloying metal make it a superior substitute in automotive applications. Furthermore, aluminum alloys are widely used in the aerospace industry; these are ideal materials to replace heavy weight components in aircraft. Aluminum alloys are also used in the construction industry for building structures including roofs, windows, architectural hardware, partitions and structural glazing. Additionally, aluminum alloys are used in wires, consumer goods, tools and machineries. In terms of revenue, the global aluminum alloys market was valued at US$ 91,230.7 Mn in 2013 and is projected to reach US$ 126,500.8 Mn by 2020, expanding at a CAGR of 4.8% from 2014 to 2020.
Transportation was the largest segment of the global aluminum alloys market, accounting for more than 40% share in 2013. Transportation is also anticipated to be the fastest growing end-user segment of the global aluminum alloys market in the next six years. Steady development in industries such as automotive, aerospace and marine is responsible for the growth of the transportation end-user segment. Rising focus on the usage of hard but lightweight aluminum alloys for producing durable components and for increasing the fuel efficiency of vehicles is expected to drive the demand for aluminum alloys in the automotive market in the next few years. Furthermore, increasing demand for the manufacture of light-weight and high-strength components for various aerospace applications is likely to drive the demand for aluminum alloys in the global aerospace industry in the next six years.
The global aluminum alloys market has been segmented based on regions such as North America, Europe, Asia Pacific and Rest of the World (RoW). Asia Pacific was the largest regional market for aluminum alloys, constituting over 60% share in 2013. Increasing demand for aluminum alloys in transportation and construction industries is projected to drive the aluminum alloys market in Asia Pacific in the next few years. Asia Pacific is also estimated to be the fastest growing region in the global aluminum alloys market during the forecast period. Higher demand for aluminum alloys in developing nations in Asia, such as China and India, is likely to drive the aluminum alloys market in Asia Pacific in the next few years. The aluminum alloys market in North America and Europe is likely to grow significantly in the next six years due to steady recovery of the economy in the U.S. and Europe. The aluminum alloys market in RoW is expected to grow noticeably in the next few years, due to rising demand for aluminum alloys in regions such as Latin America and the Middle East.
Increasing demand for aluminum alloys in rapidly growing end-user segments such as transportation and construction is anticipated to drive the global aluminum alloys market in the next few years. Rising usage of recycled aluminum alloys is also projected to offer substantial opportunities to the aluminum alloys market in the next six years. However, fluctuation in prices of raw materials is likely to hamper market growth during the forecast period. Major manufacturers of aluminum alloys include United Company RUSAL Plc, Alcoa Inc., Aluminum Corp. of China Ltd., Norsk Hydro ASA, and Dubai Aluminum Co. Ltd.
The report analyzes and forecasts the market for aluminum alloys on the global and regional level. Market has been forecast based on volume (kilo tons) and revenue (US$ Mn) from 2014 to 2020. The study includes drivers and restraints of the global aluminum alloys market. It also covers the impact of these drivers and restraints on demand for aluminum alloys during the forecast period. The report comprises the study of opportunities in the aluminum alloys market on the global and regional level.
The report includes a detailed value chain analysis, which provides a comprehensive view of the global aluminum alloys market. Analysis of Porter’s five forces model for the aluminum alloys market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein product segments are benchmarked based on their market size, growth rate and general attractiveness.
The study provides a decisive view on the global aluminum alloys market by segmenting it in terms of end-users. All the end-user segments have been analyzed based on present and future trends. The global aluminum alloys market has been estimated from 2014 to 2020. Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific and Rest of the World (RoW). The report also covers demand for individual applications and end-user segments in all the regions.
The study includes profiles of major companies operating in the global aluminum alloys market. Key players profiled in the report include United Company RUSAL Plc, Alcoa Inc., Aluminum Corp. of China Ltd., Norsk Hydro ASA and Dubai Aluminum Co. Ltd. Market players are profiled in terms of attributes such as company overview, financial overview, business strategies and recent developments.
The report provides the market size of aluminum alloys for 2013, and forecast for the next six years. The global market size of aluminum alloys is provided in terms of both volume as well as revenue. Market volume is defined in kilo tons, while market revenue is in US$ Mn. Market numbers are estimated based on various key end-user segments of aluminum alloys. Market size and forecast for each major end-user is provided in terms of global and regional markets.
In order to compile the research report, we conducted in-depth interviews and discussions with a wide range of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by an extensive secondary research. We reviewed key players’ product literature, annual reports, press releases and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources and statistical data from government websites, trade associations and agencies. This has proven to be the most reliable, effective and successful approach for obtaining precise market data, capturing industry participants’ insights and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, SEC filings, Plastemart magazine, TPE magazine, internal and external proprietary databases, and relevant patent and regulatory databases such as ICIS, Hoovers, Onesource, Factiva and Bloomberg, national government documents, statistical databases, trade journals, market reports, news articles, press releases and webcasts specific to companies operating in the market.
Primary research involves e-mail interactions, telephonic interviews and face-to-face interviews for each market, category, segment and sub-segment across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape and outlook, etc. Furthermore, these help validate and strengthen the secondary research findings. These also help develop the analysis team’s expertise and market understanding.
The report segments the global aluminum alloys market as:
Aluminum Alloys Market - End-user Analysis
- Others (including sporting goods, etc.)
Aluminum Alloys Market - Regional Analysis
- North America
- Asia Pacific
- RoW (South America, Africa and the Middle East)