Global Aluminum Alloys Market: Snapshot

Rising applications across diverse sectors boost the global aluminum alloys market. For instance, the demand for materials capable of reducing overall weight of vehicles is considerably high in the automotive industry. Light-weight vehicles offer greater fuel efficiency, which is also a key reason behind their surging popularity. Aluminum alloys offer strengths required for building a tough vehicle without compromising on its lightweight-feature. Besides this, the use of aluminum alloy is expected to increase in the aerospace industry. Both automotive and aerospace sectors are expanding rapidly, which is expected to boost the aluminum alloys market. Furthermore, the market is likely to gain from the increasing demand for lightweight vehicles around the world.

On the downside, various types of substitutes are available in the global market, which may curtail its growth rate to an extent. Also the high cost of production of aluminum alloys may create hindrances for the market players. Nonetheless, increasing demand and production of electric vehicles is likely to bolster growth opportunities for the market in the coming years.

Transparency Market Research (TMR) forecasts the global aluminum alloys market to rise at a CAGR of 4.8% between 2014 and 2020. At this pace the market is likely to reach US$126.5 bn in 2020 as against US$91.2 bn in 2013.

Transportations Constituted Leading Segment Based on End Use

The global aluminum alloys market can be segmented based on various parameters. For instance, the market can be segmented into packaging, sporting goods, machinery, transportation, construction, and others in terms of end use. Of these, the transportation sector emerged dominant in 2013 with a share of over 40% in the overall market. The segment is predicted to retain its dominance through the forecast period chief on account of the increasing use of aluminum alloys, aerospace, marine, arms, and automotive sectors. Aluminum alloys are increasingly used to manufacture lightweight vehicle parts, which is likely to give significant impetus to the global market.

Asia Pacific to Remain Dominant through Forecast Period

Regionally, the global aluminum alloys market can be segmented into Asia Pacific, North America, Europe, and Rest of the World. Among these regions, Asia Pacific exhibited clear dominance in 2013, with a share of 60% in the global market. Furthermore, it is expected to continue its bullish run through the course of the forecast period. The rising demand from the expanding construction and transportation sectors will aid the market’s growth in the region. Besides this, India and China are forecast to showcase lucrative growth opportunities to the market. Furthermore, the market is predicted to witness positive growth in North America and Europe through the forecast period.

The global aluminum alloys market is moderately fragmented and is projected to witness increasing competition in the coming years. An increasing number of market players are focusing on bauxite sources for their continuous supply of raw materials. This is expected to encourage growth in the aluminum alloys market in the coming years. Also in order to sustain their stronghold, the market players are likely to invest in research and development activities. Additionally, it is expected to witness several acquisitions and collaborations as players aim at gaining competitive advantage.

Some of the leading companies operating in the global aluminum alloys market are Norsk Hydro ASA, United Company RUSAL Plc, Aluminum Corp. of China Ltd., Dubai Aluminum Co. Ltd., and Alcoa Inc.

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
  • Transportation
  • Construction
  • Packaging
  • Machinery
  • Electrical
  • Others (including sporting goods, etc.) 
Aluminum Alloys Market - Regional Analysis
  • North America
  • Europe
  • Asia Pacific
  • RoW (South America, Africa and the Middle East)
.