The
global aluminum alloys market is moderately fragmented with the top
eight players holding 44.6% of the market share in 2013. These
players are Aluminum Corporation of China Ltd., United Company RUSAL
Plc, Rio Tinto Alcan, Alcoa Inc., Aluminium Bahrain B.S.C,
Constellium, Norsk Hydro ASA, and Aleris International Inc. Players
in the market are integrating backwards to ensure their supply of raw
materials, especially aluminum, says a new report by Transparency
Market Research (TMR). The global aluminum alloys market is marked by
new product developments and strategic agreements of manufacturers
with end-user industries. Companies are also undertaking merger and
acquisition activities. Players are increasingly investing in
research and development activities. The threat of new entrants is
expected to rise from low to medium and the threat from substitutes
will remain low.
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According
to the report, the global aluminum alloys market is expected to be
worth US$126,500.8 mn by 2020. On the basis of end user, the
transportation segment is expected to account for 46.8% of the market
by 2020. Aluminum has light-weight, yet high strength and thus, high
demand exists from aircraft and automotive industries, which is
driving the demand for aluminum alloys from the transportation
segment. The trend of light-weight vehicles is also supporting the
aluminum alloys market. By geography, Asia Pacific will continue to
lead. The region is anticipated to hold 65% of the market by 2020.
The rise in construction activities and infrastructure development in
the emerging nations of Asia Pacific is behind the region’s high
growth in the aluminum market.
Growing
Transportation Industry Driving Aluminum Alloys Market towards
Development
The
transportation industry is one of the key consumers of aluminum
alloys market. The transportation industry is flourishing on account
of rapid industrialization and growing need to have superior means of
commuting. In addition to this, the increasing trade between
developed and developing nations will also drive the transportation
industry, which in turn will create a heightened demand for aluminum
alloys. A high growth in the demand for automobiles, especially in
Asia Pacific will also boost the demand for aluminum alloys.
Furthermore, the demand for light–weight vehicles is increasing
with the need to curb emissions and optimal fuel usage. As aluminum
is light weight, the demand for aluminum alloys for the development
of light-weight vehicles will help push the market through 2020. The
trend of light-weight automotive is also influencing the aerospace
and marine industries and this will propel the demand for aluminum
alloys.
Fluctuating
Raw Material Prices to Hamper Global Aluminum Alloys Market
The
price of aluminum alloys is largely dependent on the price of
aluminum. The cost of aluminum is fluctuates and with it, the cost of
its alloys. In addition to this, price fluctuation of alloying
elements such as zinc, copper, magnesium, and copper is also
impacting the global
aluminum alloys market. Another key factor hampering the demand
and price of aluminum alloys is the declining of the end user
industries. Moreover, the availability of recycled aluminum along
with the existing production capacities of several companies affect
the price of aluminum. On the other hand, the issue of fluctuating
costs of raw materials and irregularity in supply can be addressed
through recycling of aluminum alloys. “Owing to advantages
associated with recycling of aluminum alloys, manufacturers are
likely to shift towards recycling in the coming years,” says a TMR
analyst.
This
information is based on the findings of a report published by
Transparency Market Research titled “Aluminum Alloys Market -
Global Industry Analysis, Size, Share, Growth, Trends and Forecast
2014 - 2020.”
The
global aluminum alloys market is segmented as follows:
Aluminum
Alloys Market - End-user Analysis
- Transportation
- Construction
- Packaging
- Machinery
- Electrical
- Others (including sporting goods)
Aluminum
Alloys Market - Regional Analysis
- North America
- Europe
- Asia Pacific
- RoW (South America, Africa and the Middle East)
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