Global High Strength Aluminum Alloys Market Trends, Applications, Analysis, Growth, and Forecast to 2027
MarketResearch.biz delivers in-depth insights on the global high strength aluminum alloys market in its upcoming report titled, “Global High Strength Aluminum Alloys Market Trends, Applications, Analysis, Growth, and Forecast to 2027”. The global high strength aluminum alloys market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018 to 2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global high strength aluminum alloys market has been segmented on the basis of strength, alloy type, end-use industry, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
High strength aluminum alloys are alloys in which aluminum (Al) is the base metal used. Other alloying elements used in combination with aluminum are copper, magnesium, manganese, silicon, tin and zinc. High strength aluminum alloys are widely used in aerospace and automotive sector. Unique combinations of properties provided by aluminum and its alloys make aluminum one of the most versatile, economical, and attractive metallic materials for broad range of applications in various engineering applications.
Growing consumption of high strength aluminum alloys, owing to growing regulations by regulatory bodies related to fuel efficiency and emissions among OEMs, coupled with increasing demand for lightweight elements in automotive industry are major factors expected to drive growth of the global high strength aluminum alloys market in the near future. In addition, rising demand for high strength aluminum alloys for use luxurious cars and buses as an alternative to steel is another factor expected to fuel growth of the target market over the forecast period.
However, high costs associated with production of high strength aluminum alloys is a major factor expected to hamper growth of the target market in the near future. Also, availability of substitutes is another factor which may limit growth of the global high strength aluminum alloys market over the forecast period.
Currently, market in Asia-Pacific accounts for highest market share in the global high strength aluminum alloys market in terms of revenue. This can be attributed to growing demand for products with high tensile strength, corrosion resistance, low maintenance, recyclability, and long shelf life in different end-use industries in the region. The market in Europe is also expected to witness significant growth over the forecast period, owing to increasing demand for high strength aluminum alloys for use in automotive end-use industry as lightweight elements. In addition, the market in Asia-Pacific is expected to register a CAGR of X.X% during the forecast period.
Global high strength aluminum alloys market segmentation:
By alloy type:
By end-use industry:
- Aerospace & defense
- Automotive & transportation
- Others (sporting goods, construction, machinery and equipment)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Rio Tinto PLC
- Aluminium Bahrain B.S.C.
- Norsk Hydro ASA
- Hindalco Industries Limited
- Alcoa Inc.
- Mitsubishi Rayon Co. Ltd.
- United Company Rusal
- Aluminum Corporation of China Limited
- Century Aluminum Company
- China Hongquiao Group Limited
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