Market Research Future Insights:
In the form of aluminium sulphates, which also includes vanadium oxides, silicon, aluminium hydroxide, titanium, chromium, sulphur, sulfuric calcium, gallium, iron, and magnesium carbonates, bauxite is a mineral that is used to make aluminium. In comparison to steel, aluminium is significantly lighter, has a high tensile strength, and is simple to mould. Because of this, it is a popular option in the automobile sector.
Automotive manufacturers are focusing on improving performance, fuel efficiency, and low carbon emissions without compromising safety, size, or capability, which is what has caused a sizable increase in the Automotive Aluminum Market Size.
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Regional Analysis:
North America: The adoption of Corporate Average Fuel Economy (CAFE) requirements in this region is what drives the North American market for automotive aluminium. The North American region dominates the world market for aluminium used in automobiles. Demand for vehicles in the US automobile sector fell precipitously in March 2020. Vehicle sales decreased by 38% on a year over year basis as a result of the COVID-19 epidemic. Passenger car sales are anticipated to rise over the projection period as the nation takes many steps to spur the automotive industry's expansion, fueling demand for automotive aluminium in the ensuing years.
Europe: The continent's rising population and demand for cutting-edge automotive technologies are expected to lead to strong demand for aluminium in the automotive sector.Germany, the UK, France, and Russia are significant market growth drivers.
Asia-Pacific: Due to the region's quick industrialization, Asia-Pacific has the fastest-growing regional market. Emerging economies like India, South Korea, Thailand, and Malaysia have the greatest growth potential. Because there is more discretionary money in the region, there is a growing demand for luxury vehicles, which has led to constant expansion in the Asia-Pacific Automotive Aluminum Market Size.
Market Segmentation:
By product type: Compared to other types of aluminium, cast aluminium makes up the largest portion of the worldwide Automotive Aluminum Market Size. Cast aluminium is a particular kind of metal that is heated to an extremely high temperature, moulded into the desired shape, then cooled to make the larger-sized items. It is employed in the automobile industry to create a wide range of vehicle models and shapes.
Rolled aluminum: Rolled aluminium enables the producer to present their products in a variety of shapes, including plates, foils, and sheets. More flexibility is possible when using this type of aluminum, which broadens its use in contemporary industries.
Metal that has been extruded through a die after being heated to a high temperature produces a robust form of aluminium. After being heated, this metal is put onto an extrusion press. Vehicle roof rails and sunroofs are made from this sort of aluminium.
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By Application:
Powertrain: The part of a vehicle that provides the driving wheels with propulsion is the powertrain. It comprises the drivetrain, the machine, and the engine. Since aluminium has good strength and flexibility, it is used by manufacturers to create this crucial component of the car. The market for automotive aluminium is anticipated to be dominated by this category.
Chassis & Suspension: One of the most important structures in a car is the chassis. It supports the vehicle's powertrain and body. The use of aluminum in the chassis makes it light in weight and durable. Suspension reduces the jerks in the vehicle and absorbs the shock during driving.
Car Body: The vehicle body is the main supporting structure to which all other components are attached. The body of a modern car consists of the engine section, the passenger compartment, and a trunk. The body can be made from many different materials these days. The use of aluminum makes the car lightweight and smooth. Aluminum offers several advantages over the steel in the car body, which enhances the use of aluminum in the market.
By vehicle type, a vehicle that is intended for the transporting of passengers. The majority of passenger automobiles are motorised vehicles used to move passengers over public roads. A passenger car can carry a weight of 3.5 tonnes and a maximum of 9 seats.
LCV: Also known as a light commercial vehicle, this category comprises pickup trucks, minivans, and three-wheelers. The most effective vehicles for moving goods quickly and within a desired area are light commercial trucks.
HCV: Heavy commercial vehicles are referred to as HCVs. Vehicles with a gross weight of more than 3500 kilogrammes are included.
Key Players:
Some of the key players in the global automotive aluminum market include Alcoa Corporation (US), Novelis Inc. (US), UACJ Corporation (Japan), Norsk Hydro ASA (Norway), AMG Advanced Metallurgical Group (Netherlands), Constellium (US), Aluminum Corporation of China Limited (CHALCO) (China), Rio Tinto Group (UK), Aleris Corporation (US), Autoneum Holding AG (Switzerland), Dana Limited (US), ElringKlinger AG (Germany), Progress-Werk Oberkirch AG (Germany), JINDAL ALUMINIUM LTD. (India), Kaiser Aluminum (US) and Lorin Industries (US).
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