Aluminum Alloys Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW
Aluminum in its pure form does not have high tensile strength, but the addition of alloying elements gives it high tensile strength. It can also work in cold environments and the tensile strength increases in cold weather. Aluminum is lighter than copper and steel. It has a high strength-to-weight ratio, making it an important construction material for the transportation industry. Aluminum alloys have excellent corrosion resistance, toughness, durability, electrical conductivity, and thermal conductivity.

MARKET SCOPE
The “Global Aluminum Alloys Market Analysis to 2031” is a specialized and in-depth study of the chemical and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the aluminum alloys market with detailed market segmentation by end use and geography. The report provides key statistics on the market status of the leading aluminum alloys market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

• Based on end use, the global aluminum alloys  market is segmented into transportation
• building & construction, machinery, automotive, marine, others.
  

MARKET DYNAMICS
Drivers-    

• The rapidly developing land and air transportation is significantly driving the market growth. 
• The growing construction industry in BRICS nations  is significantly contributing to the expansion of the aluminum alloys   market. 
• Growing electric vehicle market will create lucrative growth opportunities for aluminum alloys  manufacturers. 
• Industrial development in Asia Pacific  is also propelling the demand of aluminum alloys. 

Restraints-

• Inconsistent raw material prices. 

REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The aluminum alloys market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the marketduring the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the aluminum alloys market in these regions.

IMPACT OF COVID-19 ON ALUMINUM ALLOYS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 pandemic has affected major chemicals and material industries, including aluminum alloys. Owing to the current pandemic situation, many companies in the aluminum alloys industry are experiencing limitations in manufacturing and production activities, as well as logistical problems as a result of ongoing trade restrictions. However, with opening several markets across the globe, vaccination development, and initiatives taken by various governments to support economic and industrial growth, the future demand of the aluminum alloys market is anticipated to grow at a positive and steady pace in the coming years.

KEY

Aluminum Alloys Market Report Analysis

Aluminum Alloys Market

• 
  CAGR (2023 - 2031)

  XX%
• Market Size 2023
  US$ XX Million
• Market Size 2031
  US$ XX Million

Report Coverage

• Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope

• Key future trends
• Detailed PEST/Porter’s Five Forces and SWOT analysis

• Industry landscape and competition analysis & recent developments
• Detailed company profiles

• Global and regional market analysis covering key market trends, major players, regulations, and recent market developments

Key Players

• Rio Tinto PLC
• Aluminium Bahrain B.S.C.
• Norsk Hydro ASA
• Hindalco Industries Limited
• Alcoa Inc.
• Aleris International Inc.
• Constellium
• Kobe Steel Ltd.
• United Company RUSAL Plc

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

By Product

• Cast Alloy
• Wrought Alloy

By End Use Industry

• Automotive
• Aerospace and Defense
• Marine

MARKET PLAYERS
The report covers key developments in the aluminum alloys market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the marketwere acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from aluminum alloys market are anticipated to lucrative growth opportunities in the future with the rising demand for aluminum alloys in the global market. 

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the aluminum alloys market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

• Rio Tinto PLC
• Aluminium Bahrain B.S.C.
• Norsk Hydro ASA
• Hindalco Industries Limited
• Alcoa Inc. 
• Aleris International Inc.
• Constellium
• Kobe Steel Ltd.
• United Company RUSAL Plc
• Aluminum Corporation of China Ltd

The Insight Partner’s dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
 

Aluminum Alloys Market Report Scope