ALUMINUM ALLOYS MARKET ANALYSIS

Aluminum alloys are metals in which Aluminum is the dominant material. Aluminum was the most commonly used metal in the world for the construction of ships, tanks, weapons, airplanes, and airplanes in earlier times. The alloys that are made today are much stronger and lightweight than the original ones as compared to past these are used in a wide range of industries, as these are highly reliable and economical. Aluminum alloys are mainly used for making frames, motors, exhaust systems, and others. Aluminum is also used in making hot-spray heaters, and in manufacturing of various types of food products.

Market Dynamics

Growing construction industry due to rapid urbanization and increasing population that require shelters is expected to offer  new market opportunities. Aluminum alloys are broadly used across the construction industry for producing different materials such as door, window, panel, and others due to their lightweight and high strength property. Moreover, increasing adoption of advanced construction materials in the industry is further expected to drive the market growth.

Increasing various manufacturing industries around the globe is projected to offer major market opportunities. Increasing production of Aluminum is another major factor that is expected to drive the market growth of the Aluminum alloy. According to the Aluminum 13th World Trade Fair & Conference, in 2021, around 63.2 million tons of Aluminum were produced worldwide in 2020.

As a result of the high cost of production and the availability of various low-cost equivalent products, it is anticipated that aluminum alloy utilization will be restricted. One of the frequently used aluminum substitutes that is also used in a range of industries is steel. This factor is anticipated to restrict market growth and present a barrier to the rate of aluminum alloy market expansion.

Key features of the study:

• This report provides an in-depth analysis of the global Aluminum alloys market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global Aluminum alloys market based on the following parameters–company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include United Company RUSAL Plc, Alcoa Inc., and Aluminum Corp. of China Ltd., Kaiser Aluminum Corporation, Norsk Hydro ASA, Dubai Aluminum Co., Constellium, Kobe Steel, Ltd., and Aluminum Bahrain B.S.C.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future products launches, technology up gradation, market expansion, and marketing tactics
• Global Aluminum alloys market report caters to various stakeholders in this industry including investors, suppliers, Aluminum alloys manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analysing the global Aluminum alloys market

Detailed Segmentation:

• Global Aluminum Alloys Market, By End User:
  • Transportation
  • Construction
  • Packaging
  • Machinery
  • Electrical
  • Others (including consumer goods, etc.)
• Global Aluminum Alloys Market, By Region:
  • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Mexico
    • Argentina
    • Rest of Latin America
  • Europe
    • U.K.
    • France
    • Germany
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • ASEAN
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa
    • Middle East
    • Africa
• Company Profiles:
  
  • RUSAL Plc
  • Alcoa Inc
  • Aluminum Corp. of China Ltd
  • Kaiser Aluminum Corporation
  • Norsk Hydro ASA, Dubai Aluminum Co.
  • Constellium
  • Kobe Steel,Ltd
  • Aluminum Bahrain B.S.C.