A recent report published by Infinium Global Research on aluminium alloy market provides in-depth analysis of segments and sub-segments in the global as well as regional aluminium alloy market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional aluminium alloy market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global aluminium alloy market. According to the report, the global aluminium alloy market is projected to grow at a CAGR of 8.3% over the forecast period of 2019-2025.
The unique combinations of properties provided by aluminum and its alloys make aluminum one of the most economical, versatile, and attractive metallic materials for a broad range of uses from soft, highly ductile wrapping foil to the most demanding engineering applications. Aluminum alloys hold the second position after steel in use as structural metals. Owing to its great physical and chemical properties aluminium alloys are becoming the first choice in many industrial applications.
Rapidly growing automobile and aerospace industry is one of the major factors contributing to the growth of the market. Aluminium alloy possesses high tensile strength and it is very durable and light in weight compared to steel such properties has globally increased its demand. Furthermore, aluminium is an important part of the construction industry that can be used in lightweight frames, doors, flooring and for many other purposes, the growing construction industry, especially in developing countries, has increased the aluminium alloy demand. On the other hand, the high cost associated with the aluminium alloys can hamper the growth of the market. However, besides high cost, continuous demand from all the major industries will provide a better opportunity for the growth of the market in the forecast period.
Based on the region, the aluminium alloy market is segmented into North America, Europe, Asia-Pacific, and RoW. The Asia-Pacific dominates the global alloy market. Factors such as the growing automotive industry, the presence of several aluminium alloy manufacturers and growing industrialization are contributing to the growth of the Asia-Pacific aluminium alloy market. Europe also holds a significant share in the market, followed by North America owing to the large automotive sector in this region. Growing industrialization, construction sector and growing production of military equipment’s supporting the growth of aluminium alloy market in North America.
The report on global aluminium alloy market covers segments such as alloy type, strength type, and end-user. On the basis of alloy type, the sub-markets include wrought alloys, and cast alloys. On the basis of strength type, the sub-markets include high strength aluminum alloys, and ultra-high strength aluminum alloys. On the basis of end-user, the sub-markets include automotive & transportation, aerospace & defense, marine, and other end-users.
The report provides profiles of the companies in the market such as RIO Tinto plc, Aluminum Bahrain B.S.C., Alcoa Inc., Hindalco Aluminum Limited, United Co RUSAL plc, Norsk Hydro ASA, Aluminum Corporation of China Limited, Century Aluminum Company, China Hongqiao Group Limited, Aleris, and other companies.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of aluminium alloy market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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