Automotive Aluminium Market Size, Share, Analysis, Report and Forecast 2024-2032

Automotive Aluminium Market Outlook

According to the report by Expert Market Research (EMR), the global automotive aluminium market size grew substantially in 2023. Aided by the automotive industry’s paradigm shift towards lightweight and sustainable vehicles, the market is projected to further grow at a CAGR of 10.3% between 2024 and 2032.

Automotive aluminium, recognised for its lightweight, strength, and corrosion resistance, is progressively becoming the material of choice in car manufacturing. Used in various automotive components such as chassis, engines, wheels, and body structures, aluminium substantially decreases the overall vehicle weight, leading to enhanced fuel efficiency and reduced greenhouse gas emissions. Given the rising global concerns about environmental sustainability and stringent government regulations on vehicular emissions, aluminium’s role in the automotive sector has gained unprecedented importance.

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The burgeoning demand for fuel-efficient vehicles is a primary driver propelling the automotive aluminium market growth. Consumers, increasingly educated about environmental conservation, are leaning towards vehicles that offer better mileage and lower emissions. With aluminium reducing a vehicle’s weight by up to 50% compared to traditional steel, its integration results in fuel savings of up to 8%. This not only aligns with the consumers’ eco-friendly preferences but also results in considerable cost savings.

Furthermore, the automotive industry’s fervent innovation in electric vehicles (EVs) underpins the escalating automotive aluminium market demand. EVs, inherently requiring lightweight structures to counterbalance their heavy batteries and ensure optimal range, benefit significantly from aluminium-intensive designs. As the world marches towards electric mobility, aluminium’s significance in vehicle design and manufacturing will undoubtedly magnify.

However, aluminium’s applications are not just confined to vehicle bodies. Its remarkable thermal conductivity makes it ideal for producing heat exchangers, radiators, and air conditioning units in vehicles. Additionally, its resistance to corrosion ensures longevity and durability, factors paramount in automotive applications.

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Additionally, the advanced recycling methods are making waves, aiming to reuse automotive aluminium, thereby mitigating environmental concerns and further establishing aluminium as a sustainable choice. With the development of advanced alloys and composite materials, the strength and versatility of automotive aluminium continue to improve, making it more competitive against traditional automotive materials. This factor is expected to increase the automotive aluminium market size in the forecast period.

Automotive Aluminium Market Segmentation

The market can be divided based on form, vehicle, application, and region.

Market Breakup by Form

Cast Aluminium
Rolled Aluminium
Extruded Aluminium

Market Breakup by Vehicle

Passenger Cars
Light Commercial Vehicle (LCV)
Heavy Commercial Vehicle (HCV)

Market Breakup by Application

Power Train
Chassis and Suspension
Car Body
Others

Market Breakup by Region

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global automotive aluminium market. Some of the major players explored in the report by Expert Market Research are as follows:

Alcoa Corporation
Aluminum Corporation of China Limited
Consolidated Metco, Inc.
Farinia Group
Dynacast
Aluminium Bahrain B.S.C.
Kaiser Aluminum Corporation
Gibbs Die Casting, Inc.
Nemak Group
CITIC Limited
Bonnell Aluminum
Ryobi Group
Endurance Technologies Limited
Martinrea Honsel Germany GmbH
Bodine Aluminum

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