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.