Global and China Aluminum Alloy Automotive Sheet Industry Report, 2019-2025
NEW YORK, Oct. 21, 2019 /PRNewswire/ -- Global automobile sales reach at least 90 million units annually as people live a better life over recent years. A combination of factors like environment pollution, fuel economy and longer new energy vehicle range leads to a trend that automobiles are bound to be lightweight, which directly fuels demand for lightweight materials, especially aluminum alloy automotive sheets.
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Global demand for aluminum alloy automotive sheet was on the rise between 2010 and 2018, at a CAGR of 16.6%. Europe, Americas and Japan, the major producers and consumers of aluminum alloy automotive sheets in the world, collectively occupied more than 50% of the global total demand. In this case, aluminum alloy automotive sheet companies worldwide raced to lavish more in capacity expansion to answer the downstream needs. By the end of 2018, global aluminum alloy automotive sheet capacity had surged by 24.1% on an annualized basis to 3.4 million tons a year, and will continue to grow in the forthcoming years, expectedly hitting 5.3 million tons in 2025.
As a fast-growing market of aluminum alloy automotive sheet across the globe, China has seen a higher share and a faster speed in its application of the material, which was driven by automotive lightweight trend, a result of both required reduction in fuel consumption and emission, and longer electric vehicle range. Using aluminum alloy sheets is a boon for automobile sales, which invigorates need for automotive aluminum materials.
The huge market potential is an enticement to Novelis, Kobelco, and Aleris and their kind to invest aluminum alloy automotive sheet projects in China. Chinese companies including Shandong Nanshan Aluminium Co., Ltd., Tianjin Zhongwang Aluminium Co., Ltd., Alnan Aluminium Co., Ltd., Weifang Sanyuan Aluminum Industry Co., Ltd., Southwest Aluminum (Group) Co., Ltd. and Henan Mingtai Aluminum Industry Co., Ltd., spend more on research and development of aluminum automotive sheets as well in the race. It is predicted that China's aluminum alloy automotive sheet capacity will be up to 1.5 million tons a year in 2025.
Global and China Aluminum Alloy Automotive Sheet Industry Report, 2019-2025 highlights the following:
Global aluminum alloy automotive sheet market (status, supply and demand, and development of key markets, e.g., Europe, Americas and Japan);
China aluminum alloy automotive sheet market (policy, supply and demand, and competitive pattern);
Global and China automobile markets and automotive aluminum markets;
8 global and 10 Chinese companies (operation, and aluminum alloy automotive sheet business).
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