Global High Strength Aluminum Alloys Market Analysis & Forecasts 2018-2023: CAGR to Grow at 7.8%
DUBLIN, May 4, 2018 /PRNewswire/ --
The "High Strength Aluminum Alloys Market by End-use industry Type (Automotive & transportation, Aerospace & defense, Marine), Alloy Type (Cast, and Wrought), Strength Type (High, and ultra-high strength), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global market for high strength aluminum alloys, in terms of value in 2018 was 37.94 Billion and is projected to reach USD 55.24 Billion by 2023, at a CAGR of 7.8% between 2018 and 2023.
In terms of volume, the global market for high strength aluminum alloys is projected to reach 11,477.9 kilotons by 2023, at a CAGR of 5.6% during the same period.
The increasing stringent regulations for fuel efficiency and emission and growing use of high strength aluminum alloys in luxury car segment are key factors for the growth of the global market for high strength steel aluminum alloys.
In terms of strength, high strength aluminum alloy market is segmented into high-strength aluminum alloys and ultra-high-strength aluminum alloys. High strength aluminum alloys represent aluminum alloys that have ultimate tensile strength above 300 MPa and Ultra-high strength aluminum alloys represent alloys with ultimate tensile strength above 400 MPa. The demand for High strength aluminum is mainly driven by automotive and transportation industry. Ultra-high strength aluminum majorly dominates in the aerospace and defense industry.
High strength aluminum alloys are extensively used in automotive & transportation, aerospace & defense, marine, and other end-use industries. The high strength aluminum alloys market in the automotive & transportation industry is expected to grow at the fastest rate due to the high penetration of aluminum in the industry and rapidly growing automotive market in APAC. The demand for ultra-high strength aluminum in the aerospace industry is driving the market for aerospace and defense segment. High strength aluminum alloys have been used in the automotive & transportation industry in many application like wheel rims, engine components, pistons, powertrain, front & rear longitudinal frame, and many more.
APAC is the largest high strength aluminum alloys market, while Europe is the fastest-growing market for high strength aluminum alloys because of its increasing use in the automotive end-use industry. The growth of the high strength aluminum alloys market in APAC is mainly driven by growing demand for products with high tensile strength, corrosion resistance, low maintenance, recyclability and long shelf life in different end-use industries.
The market for high strength aluminum alloys is rapidly gaining importance. However, few factors act as a bottleneck towards its growth in the global high strength aluminum alloys market. High production cost and availability of high strength composite material are the major restraints toward the growth of the high strength aluminum alloys market.
The companies such as Rio Tinto PLC (UK), Aluminium Bahrain B.S.C. (Bahrain), Norsk Hydro ASA (Japan), Hindalco Industries Limited (India), Alcoa Inc. (US) are the dominant market players in the global high strength aluminum alloys market. They have been adopting various organic and inorganic growth strategies such as agreements, joint ventures & collaborations, expansions, mergers & acquisitions, and new product launches & technology developments to enhance the current market scenario of the high strength aluminum alloys market.
Key Topics Covered
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Size Estimation
2.3 Data Triangulation
2.4 Assumptions
3 Executive Summary
4 Premium Insights
4.1 Significant Opportunities in the High Strength Aluminum Alloys Market
4.2 High Strength Aluminum Alloys Market, By Alloy Type
4.3 High Strength Aluminum Alloys Market, By Strength Type
4.4 High Strength Aluminum Alloys Market, By End-Use Industry and Region
4.5 High Strength Aluminum Alloys Market, By Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.3 Porter's Five Forces Analysis
6 Macroeconomic Overview and Key Trends
6.1 Introduction
6.2 Trends and Forecast of GDP
6.3 Trends of Aerospace Industry
6.4 Trends of Automotive Industry
7 High Strength Aluminum Alloys Market, By Alloy Type
7.1 Introduction
7.2 Wrought Alloys
7.3 Cast Alloys
8 High Strength Aluminum Alloys Market, By Strength Type
8.1 Introduction
8.2 High Strength Aluminum Alloys
8.3 Ultra-High Strength Aluminum Alloys
9 High Strength Aluminum Alloys Market, By End-Use Industry
9.1 Introduction
9.2 Automotive & Transportation
9.3 Aerospace & Defense
9.4 Marine
9.5 Others
10 High Strength Aluminum Alloys Market, By Region
10.1 Introduction
10.2 North America
10.3 Europe
10.4 APAC
10.5 Middle East & Africa
10.6 South America
11 Competitive Landscape
11.1 Introduction
11.2 Market Ranking
11.3 Competitive Scenario
12 Company Profiles
12.1 RIO Tinto PLC
12.2 Aluminum Bahrain B.S.C.
12.3 Alcoa Inc.
12.4 Hindalco Aluminum Limited
12.5 United Company (UC) Rusal
12.6 Norsk Hydro ASA
12.7 Aluminum Corporation of China Limited
12.8 Century Aluminum Company
12.9 China Hongqiao Group Limited
12.10 Aleris
12.11 Other Key Players
12.11.1 Kaiser Aluminum
12.11.2 EGA
12.11.3 Constellium N.V.
12.11.4 Advanced Metallurgical Group
12.11.5 UACJ Corporation
12.11.6 Federal-Mogul Holding Corporation
12.11.7 Dana Holding Corporation
12.11.8 Autoneum Holding AG
12.11.9 Elringklinger AG
12.11.10 Progress-Werk Oberkirch AG
For more information about this report visit https://www.researchandmarkets.com/research/538p6f/global_high?w=5
Media Contact:
Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
SOURCE Research and Markets
Share this article