Capacity Expansion Identified as Strategic Priority Carried Out by Aluminium Alloy Manufacturers to Narrow down Supply-Demand Gap, Evaluates Fact.MR
Published : 13 Jan 2022 Industry: Chemical & Materials
According to the latest market analysis report on aluminium alloys by Fact.MR, a market research and competitive intelligence provider, the global market is poised to be valued at US$ 131 Bn by 2022-end, and expand at a steady CAGR of around 8.1% over the forecast period of 2022-2032. High market growth can be attributed to factors such as rising demand from high-growth industries, and investments and capacity expansions by market participants.
The aluminium alloys business space is highly fragmented in nature owing to the presence of several producers solely involved in the production of metal. Aluminium alloys have gained substantial traction in the automotive industry, and this end-use segment has been identified as a potent source for revenue generation. As such, aluminium alloy producers are opting for capacity expansion to garner a greater market share and a gain competitive advantage.
Key Takeaways from Market Study
- Heat treatable aluminium alloy projected to provide absolute $ opportunity worth US$ 91 Bn over forecast period.
- Based on casting/operation, sand casting projected to expand at higher CAGR of around 8.7%.
- On the basis of application, aluminium alloy consumption in automotive industry anticipated to expand around 2.3X by 2032.
- East Asia projected to capture around 71% of global aluminium alloys market share by 2032.
- South Asia & Oceania to provide absolute $ opportunity worth US$ 9.6 Bn by 2032.
“Overcapacity by Chinese smelters is being seen as an area of concern, and thus, governments globally can be seen imposing regulations to protect domestic production,” says a Fact.MR analyst.
Leading players in the aluminium alloys market have been able to garner market share by opting for the vertical integration approach. Additionally, this vertically integrated business approach has helped market players reduce their dependency on suppliers for alumina.
Moreover, targeting key niche segments such as alloy wheels has increased the revenue generation capabilities of players and is poised to be the most lucrative segment to invest in.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the aluminium alloys market, presenting historical market data (2016-2020) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of type (heat treatable and non-heat treatable), casting (sand casting, investment casting, permanent mold casting, die casting, and others), application (packaging, automotive, marine, consumer durables, aerospace, building and construction, and others), and alloy (cast and wrought), across six major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
About the Chemicals and Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned chemical and material team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the chemicals industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
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