Growth In Sales of Aluminium Alloys Market To Be Largely Driven By Rising Consumer Adoption : Fact.MR

From 2022 to 2032, the global aluminium alloys market is predicted to develop at an annual rate of 8.1%, from US$ 131 billion in 2022 to US$ 287 billion in 2032.

According to Fact.MR, a market research and competitive intelligence firm, global volume consumption of aluminium alloys has expanded at a CAGR of approximately 6.5% over the last half-decade. The metal’s global volume use was predicted to be 54,360 kilo tonnes by the end of 2021.

The use of aluminium alloys in the transportation business and the use of aluminium alloys in the building and construction industries have been the two most profitable areas, accounting for the majority of aluminium alloy sales revenue.

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China has a massive market for aluminium alloys. Alloyed aluminium is primarily used in the automotive, building & construction, and consumer electronics industries. In China, for example, automotive, along with building and construction, will account for around 55% of total aluminium alloy sales in 2021.

Furthermore, China is a major producer of electric vehicles as well as a big market for vehicle sales. In China, for example, electric vehicles will account for approximately 6.2% of car sales in 2021. Furthermore, the trend is likely to improve, thereby impacting the country’s alloyed aluminium sales.

The automobile industry’s attention is changing toward the introduction of electric vehicles, which necessitates the widespread use of aluminium alloys to compensate for the weight of lithium-ion batteries. Furthermore, governments around the world have been seen subsidising electric vehicles, resulting in higher sales and a positive outlook for aluminium alloy makers.

Key Takeaways:

• Heat treatable aluminium alloy is estimated to offer an absolute $ opportunity worth US$ 91 billion throughout the projection period.
• Sand casting is predicted to increase at a faster CAGR of around 8.7% in terms of casting/operation.]
• Aluminium alloy use in the automobile industry is predicted to increase by 2.3X by 2032.
• East Asia is predicted to account for around 71% of the global aluminium alloys market by 2032.
• South Asia and Oceania would offer an absolute dollar potential worth US$ 9.6 billion by 2032.

Competitive Landscape

Vertical integration has helped leading rivals in the aluminium alloys industry gain market share. This vertically integrated corporate structure has also assisted market participants in reducing their dependency on alumina suppliers.

Furthermore, concentrating on important specialist areas such as alloy wheels has increased income generation possibilities for players and is predicted to be the most profitable segment to invest in.

• Rusal announced a $12 million investment in improving its alloy automobile wheel production in SKAD, Russia, in December 2021. The company plans to increase its commercial capabilities and target high-growth countries such as Germany, which has significant aluminium alloy demand.
• BA Brazil announced in November 2021 that it had purchased approximately 80% of Alux, a secondary alloyed aluminium mill. CBA has made significant investments in growing its manufacturing capacity and is anticipated to do so again in the near future.

More Valuable Insights on Aluminium Alloys Market

Fact.MR provides an unbiased analysis of the aluminium alloys market, presenting forecast statistics for the period from (2022-2032). The study divulges compelling insights on the global aluminium alloys market with a detailed segmentation on the basis of:

• • Aluminium Alloys Market by Type:
    • Heat Treatable Aluminium Alloys
      • 2000 Series
      • 4000 Series
      • 6000 Series
      • 7000 Series
      • 8000 Series
    • Non-Heat Treatable Aluminium Alloys
      • 3000 Series
      • 4000 Series
      • 5000 Series
  • Aluminium Alloys Market by Casting / Operation:
    • Sand Casting Aluminium Alloys
    • Investment Casting Aluminium Alloys
    • Permanent Mold Casting Aluminium Alloys
    • Die Casting Aluminium Alloys
    • Others
  • Aluminium Alloys Market by Application:
    • Aluminium Alloys for Packaging
    • Aluminium Alloys for Automotive
    • Aluminium Alloys for Marine
    • Aluminium Alloys for Consumer Durables
    • Aluminium Alloys for Aerospace
    • Aluminium Alloys for Building & Construction
      
      
  • Aluminium Alloys Market by Alloy:
    • Cast Aluminium Alloy
    • Wrought Aluminium Alloys
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Questions Covered in Aluminium Alloys Market Report

• The study provides information on the aluminium alloys industry demand forecast for 2022-2032.
• The market research also includes forecasted sales growth for the aluminium alloys industry between 2022 and 2032.
• The aluminium alloys market survey highlights key growth drivers, restraints, and other variables influencing current trends, as well as an assessment of current market size and projection, as well as technological breakthroughs within the sector.
• Analysis of the top players in the aluminium alloys market, as well as coverage of tactics such as mergers and acquisitions, joint ventures, collaborations or partnerships, and others.