The fast expansion of the automotive sector is essentially driving the growth of the aluminium alloys market. The automobile sector is a major user of aluminium alloys. The increased manufacturing of vehicles throughout the world is increasing use of these alloys, accelerating market growth. Increased freight transportation is propelling the marine sector forward. Metals such as aluminium are commonly employed in the shipbuilding industry to reduce total ship weight while maintaining ship strength. Moreover, aluminium alloys are very corrosion resistant when compared to other metals, which is increasing demand for aluminium alloys in the shipbuilding sector. As a result, expansion in the maritime industry is boosting the market for aluminium alloys. Environmental issues, such as rising pollution and energy costs, are pushing governments to impose tight laws and restrictions for the manufacture of aluminium alloys. This factor is projected to impede the growth of the aluminium alloys market over the forecast period. The high cost of the fabrication process, along with the availability of various low-cost replacement goods, is projected to limit the use of aluminium alloys. Steel is a typical replacement for aluminium that is widely employed in a variety of sectors. This factor is anticipated to restrict market.
According to Coherent Market Insights, Global Aluminum Alloys Market was valued at US$ 133269.2 Million in 2021 in terms of revenue, exhibiting a CAGR of 4.67 % during the forecast period (2022 to 2030).
Prominent Companies in the Aluminium Alloy Industry:
1. United Company RUSAL Plc
United Co RUSAL International PJSC produces aluminium and aluminium products. Its products are primary aluminium, aluminium alloys, high purity aluminium, wire rod, foil and packaging, aluminium powder, bauxite and alumina, silicon, gallium, corundum, and aluminium protectors. The Aluminium segment is a key revenue driver, covers the production and sale of primary aluminium and related products. Alumina segment encompasses mining and refining of bauxite into alumina and sale of alumina. The Energy segment comprises mining and sale of coal and generation and transmission of electricity produced from various sources. Mining and metals segment consists of equity investments in Norilsk Nickel. The company was founded in 2000, headquartered in Moscow, Russia.
2. Alcoa Inc.
Alcoa International Holdings Company, through its subsidiaries, produces and distributes alumina and aluminum products. The company was founded in 1987, headquartered in Vermont, U.S.
3. Aluminum Corp. of China Ltd.
Aluminum Corporation of China Limited (hereinafter referred to as “Chalco”) was incorporated on September 10th, 2001 in China, and Aluminum Corporation of China (hereinafter referred to as “Chinalco”) is its controlling shareholder. Chalco is a leading company in China’s non-ferrous industry, with a strong portfolio of assets among global competitors. Currently Chalco has 39 subsidiaries, 18 wholly owned and 21 controlled ones. Chalco has been listed in the New York Stock Exchange, the Stock Exchange of Hong Kong and Shanghai Stock Exchange.
4. Kaiser Aluminum Corporation
Kaiser Aluminum Corporation, together with its subsidiaries, engages in manufacture and sale of semi-fabricated specialty aluminum mill products in the United States and internationally. Kaiser Aluminum Corporation was founded in 1946 and is headquartered in Franklin, Tennessee. On 30 November 2020, Kaiser Aluminum entered into a purchase agreement with Alcoa Corporation to acquire the Warrick Rolling Mill. This acquisition will provide them entry into the North American aluminum packaging industry, which is a strong and growing non-cyclical end market driven by sustainability trends and the secular shift from plastic to aluminum in the packaging industry.
5. Norsk Hydro ASA
Norsk Hydro ASA engages in the power production, bauxite extraction, alumina refining, aluminium smelting, remelting, and recycling activities; and provision of extruded solutions worldwide. It operates through Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy segments. Norsk Hydro ASA was founded in 1905 and is headquartered in Oslo, Norway. In November 2020, Norsk Hydro ASA partnered with Arksen. With this acquisition Arksen now has access to low-carbon aluminum and aluminum expertise due to its partnership with Hydro.
6. Constellium
Constellium SE, together with its subsidiaries, engages in the design, manufacture, and sale of specialty rolled and extruded aluminum products for the packaging, aerospace, automotive, other transportation and industrial end-markets. The company operates through three segments: Packaging & Automotive Rolled Products, Aerospace & Transportation, and Automotive Structures & Industry.
7. Kobe Steel, Ltd.
Kobe Steel, Ltd. is a diversified corporation with businesses in the three core areas of materials, machinery and electric power. The materials businesses include steel, welding, aluminum and copper. The machinery businesses consist of industrial machinery, construction machinery and engineering. Electric power supply is the third core business. Kobe Steel has head offices in Kobe and Tokyo, Japan. The company was founded in 1905.
*Definition-Aluminum alloys are alloys with a larger percentage of aluminium metal in their composition. Aluminum is a prominent metal that is widely utilised in a variety of sectors including transportation, transportation, and electronics.
