The
global aluminum alloys market was valued at US$ 91.23 Bn in 2013 and
is projected to reach US$ 126.5 Bn by 2020, expanding at a CAGR of
4.8% from 2014 to 2020.
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Aluminum Alloys Market Report with Full TOC at
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Aluminum
alloys, in general, are the alloys, wherein an alloying metal is
added to the base metal (aluminum) to improve the properties of pure
aluminum and make it suitable for specific applications. Aluminum is
the base element in these alloys; therefore, the content of aluminum
is the highest. Transportation was the largest end-user segment of
the global aluminum alloys market in 2013, due to rising demand from
industries such as automotive, aerospace and marine. In terms of
volume, the transportation segment accounted for more than 40% of the
global market in 2013.
Transportation
is estimated to be the fastest growing segment of the global aluminum
alloys market in the next few years. Rise in industrialization and
increasing need for superior means of commuting has boosted the
industry in the last decade. Steady growth in industries such as
automotive, aerospace and marine is responsible for the advancement
of the transportation end-user segment. Higher focus on the usage of
hard but lightweight aluminum alloys for producing durable components
and for increasing the fuel efficiency of vehicles is projected to
drive demand for aluminum alloys in the automotive market in the next
few years. Furthermore, rising demand for light-weight and
high-strength components for various aerospace applications is
anticipated to drive demand for aluminum alloys in the global
aerospace industry in the next six years. Furthermore, due to the
increasing requirement for low self-weight of ships and high
corrosion resistance ability, the demand for light-weight aluminum
alloys in the marine industry is expected to rise at a rapid rate in
the next few years.
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Asia
Pacific dominated the global aluminum alloys market, accounting for
more than 60% share in terms of volume in 2013. Increasing demand for
aluminum alloys in transportation and construction segments is likely
to drive the aluminum alloys market in Asia Pacific in the next six
years. Asia Pacific is anticipated to be the fastest growing region
in the aluminum alloys market in the next few years. Rising demand
for aluminum alloys in rapidly developing nations in Asia, such as
India and China, is estimated to drive the aluminum alloys market in
Asia Pacific in the next six years. Factors such as steady economic
recovery in the U.S. and Europe and higher demand for aluminum alloys
in RoW are likely to drive the global aluminum alloys market in the
next few years. Key players operating in the aluminum alloys industry
include United Company RUSAL Plc, Alcoa Inc., Aluminum Corp. of China
Ltd., Norsk Hydro ASA, and Dubai Aluminum Co. Ltd.
The
report segments the global aluminum alloys market as:
Aluminum
Alloys Market - End-user Analysis
- Transportation
- Construction
- Packaging
- Machinery
- Electrical
- Others (including sports goods)
Aluminum
Alloys Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- RoW (South America, Africa and the Middle East)
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Article Of Aluminum Alloys Market
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