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According to a new market report published by Lucintel, the future of aluminum in the global automotive industry looks strong with increasing penetration of lightweight materials and rising vehicle production. Aluminum in the global automotive industry is forecast to grow at a CAGR of 7.4% from 2015 to 2020. The major drivers of growth for this market are government regulations, a growing demand for lightweight,fuel efficient vehicles, and better price performance benefits of aluminum compared to other lightweight materials. High tensile strength, corrosion resistance, and recyclability of aluminum alloys are additional factors contributing to accelerated growth.
In this market, cast aluminum, rolled aluminum, and extruded aluminum are some of the major product forms used for automotive applications. Cast aluminum is the largest segment by product forms and is expected to remain the same during the forecast period. Lucintel predicts that the demand for rolled aluminum is likely to experience the highest growth in the forecast period supported by growing application of rolled aluminum in the structural component of the vehicle. On the basis of its comprehensive research, Lucintel forecasts that structural components, engine, and wheel and brakes are expected to show above average growth during the forecast period.
Within the aluminum in automotive industry, the passenger car segment is expected to remain as the largest market by volume consumption. The development of new applications and material joining technologies for automotive industry is expected to spur growth for this segment over the forecast period.
Asia Pacific (APAC) is expected to remain the largest market due to increase in the passenger car and light commercial vehicle production in China and India. North America and Europe are expected to witness significant growth over the forecast period because of strict government regulations for fuel economy and carbon emission reduction.
For market expansion, the report suggests innovation and new product development; this is where the unique characteristics of aluminum material can be capitalized. The report further suggests the development of partnerships with customers to create win-win situations and the development of low-cost solutions for the end users.
Emerging trends, which have a direct impact on the dynamics of the industry, include the increasing use of aluminum in chassis and structural applications and advanced manufacturing technology. Alcoa Inc., Aleris International, Novelis Inc., Norsk Hydro ASA (ADR), and Constellium N.V. are among the major suppliers of aluminum material to the automotive industry. Some companies are opting for joint venture and M&A as a strategic initiative for driving growth.
Lucintel, a leading global strategic consulting and market research firm, has analyzed opportunities for aluminum in global automotive industry by application, product form and region, and has come up with a comprehensive research report, “Growth Opportunities for Aluminum in Global Automotive Industry 2015-2020: Trend, Forecast, and Market Analysis.” The Lucintel report serves as a spring board for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast of opportunities for aluminum in global automotive industry through 2020, segmented by application, product form and region as follows:
By application [Volume (Mil lbs /Kilotons) and $ Mil shipment analysis for 2009 – 2020]:
Engine Transmission and Driveline Heat Transfer Wheels and Brakes Structural Components Others
By product form [Volume (Mil lbs /Kilotons) and $ Mil shipment analysis for 2009 – 2020]:
Cast Aluminum Rolled Aluminum Extruded Aluminum Others
By region [Volume (Mil lbs /Kilotons) and $ Mil shipment analysis for 2009 – 2020]:
North America Europe Asia Pacific Rest of World
This unique report from Lucintel will provide you with valuable information, insights, and tools needed to identify new growth opportunities and operate your business successfully in this market. This report will save hundreds of hours of your own personal research time and will significantly benefit you in expanding your business in this market. In today’s stringent economy, you need every advantage that you can find.
To make business, investment, and strategic decisions, you need timely, useful information. This market report fulfills this core need and is an indispensable reference guide for multinational materials suppliers, product manufacturers, investors, executives, distributors, and many more that operate in this market.
Some of the features of “Growth Opportunities for Aluminum in Global Automotive Industry 2015-2020: Trend, Forecast, and Market Analysis” include:
Market size estimates: Aluminum in global automotive industry size estimation in terms of volume (M lbs.) and value ($M) shipment. Trend and forecast analysis: Aluminum in global automotive industry trend (2009-2014) and forecast (2015-2020) by region and product type. Segmentation analysis: Aluminum in global automotive industry size by various product forms, such as cast aluminum, rolled aluminum, extruded aluminum and others in terms of value and segmented by application, such as engine, transmission and driveline, heaty transfer, wheels and brakes and structural component by value Regional analysis: Aluminum in global automotive industry breakdown by key regions, such as North America, Europe, Asia Pacific, and Rest of World. Growth opportunities: Analysis on growth opportunities in different applications and regions. Strategic analysis: This includes M&A, competitive landscape, and expansion strategies of aluminum in global automotive industry suppliers. Emerging applications: Emerging applications of aluminum in global automotive Industry. Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
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