Aluminium alloy is used in engineering structures and components which required properties such as corrosion resistance and lightweight. These are used in automotive for engine components, wheels, driveline, heat exchanger, body, and others. Additionally, these are mostly used in external automotive body panels. The benefits associated with the aluminum alloy sheet include high potential weight saving, improve vehicle fuel efficiency, and reduce the total greenhouse gas emission.

Market Dynamics

The increasing vehicle production across the globe due to increased demand with rising disposable income is driving the market value. The imposition of strict regulations for fuel efficiency & emissions by governmental bodies is supporting the market value. The improved driving dynamics, increasing electric vehicle market and rising demand of light weight vehicle are additional important factors supporting the market value. Moreover, integration of new systems for comfort & safety are anticipated to create potential opportunities over the forecast timeframe.

On the other side, high cost associated with the aluminium alloy and availability of substitute is projected to negatively impact the growth over the estimated period from 2020 to 2027.

Electric Vehicle segment is projected to exhibit fastest growth during the forecast period

The rapidly increasing demand for electric vehicles across the globe is primarily driving the segmental market value. The rapidly increasing CO2 emission due to the presence of a large number of fuel-based or combustion engine vehicle is further supporting the demand in the global market. Along with these, the favorable rules and regulations in the developed and developing economies associated with the electric vehicle are additionally propelling the market value.

The market research study on “Automotive Aluminium Alloy Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2020 – 2027”, offers a detailed insight into the global automotive aluminium alloy market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights into the global automotive aluminium alloy market, its heat sensitivity type, application, vehicle type, electric vehicle and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global automotive aluminium alloy market size and volume, and segment markets by heat sensitivity type, application, vehicle type, electric vehicle and geography along with the information on companies operating in the market. The automotive aluminium alloy market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.

Asia Pacific is leading the global market with major share

Asia Pacific region is leading the market with maximum share in terms of value and the region is also projected to maintain its dominance over the estimated period. The region is further expected to experience the fastest growth over the estimated period. The increasing production of vehicles in the regional market due to increasing investment by global manufacturers in the major countries of the region such as China and India is contributing to the market value. The rising demand for electric vehicles owing to the increasing environmental concern is also propelling the regional market. Along with these, the rapid urbanization, industrialization and increasing purchasing power of people are additionally accelerating the market value.

The players profiled in the report include ALERIS, Magna International Inc., Arconic, AUSTEM Company Ltd., Bharat Forge, Constellium N.V., Flex-N-Gate Corporation, Gordon Auto Body Parts Co., Ltd., Granges, KIRCHHOFF Automotive GmbH, Nanshan Group, Novelis, Norsk Hydro ASA, UACJ Corporation.

Market Segmentation

Market By Heat Sensitivity Type

• Non Heat-treatable (Al-Mg-Mn)
• Heat-treatable (Al-Mg-Si)

Market By Application

• Engine Component
• Wheels
• Driveline
• Heat Exchanger
• Body
• Others

Market By Vehicle Type

• Passenger Vehicles
• Commercial Vehicle

Market By Electric Vehicle Type

• Battery Vehicle
• Hybrie Electric Vehicle
• Plug-In Hybrid Electric Vehicle

Market By Geography

North America

• U.S.
• Canada

Europe

• UK
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• China
• Japan
• India
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• GCC
• South Africa
• Rest of Middle East & Africa