ALBANY, New York, January 14, 2016 /PRNewswire/ --
Transparency Market Research, in its latest research report, indicates that the global aluminum alloys market is largely fueled by the rapid growth of the transportation and construction industries. The report, titled "Aluminum Alloys Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", also states that fluctuating prices of raw materials are likely to threaten the growth of the global market. Developing at a modest 4.80% CAGR from 2014 to 2020, the worldwide market for aluminum alloys is anticipated to rise from US$91.2 billion in 2013 to US$126.5 billion in 2020.
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Aluminum alloys find application is several end-use industries: construction, machinery, transportation, packaging, electrical, and others such as sporting goods. Accounting for a 40% share of the total aluminum alloys consumption in 2013, the transportation sector emerged as the leading application segment. This industry is also projected to become the fastest growing segment by 2020 owing to rising demand for aluminum alloys from sectors such as automotive, aerospace, and marine. There has been increased demand for fuel efficiency of vehicles and durable automobile components made from hard yet lightweight aluminum alloys. This is expected to spur the consumption rate of aluminum alloys in the automotive sector. The aerospace sector, on the other hand, has been presenting strong opportunities for aluminum alloys with the growing demand for the manufacturing of high-strength and lightweight components.
On the basis of geography, the global market for aluminum alloys is divided into North America, Europe, Asia Pacific, and Rest of the World. Accounting for a share of more than 60.0% in 2013, Asia Pacific dominated the global aluminum alloys market, mainly driven by the surge in construction projects and growth of the transportation industry. With China and India being the largest consumers of aluminum alloys, Asia Pacific is anticipated to become the most rapidly developing regional segment by 2020.
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The growth of the construction industry is also expected to boost the aluminum alloys market in North America and Europe, with both regions registering a healthy growth rate from 2014 to 2020. In the Rest of the World region, Latin America and the Middle East are projected to witness a rise in demand for aluminum alloys.
The leading vendors competing in the aluminum alloys market include Dubai Aluminum Co., Kobe Steel, Ltd., Alcoa Inc., Aluminum Corp. of China Ltd., United Company RUSAL Plc, Norsk Hydro ASA, Constellium, Aleris International Inc., Aluminium Bahrain B.S.C., Kaiser Aluminum Corporation, and Rio Tinto Alcan.
Browse Research Article: http://www.transparencymarketresearch.com/article/aluminum-alloys-market.htm
Each of these players are analyzed in the aluminum alloys market report on the basis of aspects such as company overview, product portfolio, business strategies, financial overview, and recent developments.
Aluminum Alloys Market - End-user Analysis
- Others (including sporting goods)
Aluminum Alloys Market - Regional Analysis
- North America
- Asia Pacific
- RoW (South America, Africa and the Middle East)
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company's exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR's experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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