Automotive Aluminium Alloy Market Synopsis

Automotive Aluminium Alloy Market Size Was Valued at USD 6.1 Billion in 2023, and is Projected to Reach USD 14.9 Billion by 2032, Growing at a CAGR of 10.5% From 2024-2032.

Automotive Aluminium Alloy is related to the segment which deals with usage of aluminium alloy in manufacturing components part of automobiles. These alloys, exhibiting light weight, corrosion resistance and high specific strength are used widely in the construction of vehicle structures, engines, wheels and other application areas. This market has a particular importance for increasing the performance, fuel economy, and eco-friendliness of vehicles due to the demanding legislation and customers’ preferences for decreased vehicle weight and improved fuel consumption.

• Current research indicates that automotive aluminium alloy market is rapidly growing especially in the last decade due to the growing demand of light automotive metals. Automotive industry around the world is now trending to use aluminum alloys because of the numerous benefits associated to it such as the light weight, high efficiency, high performance among others. This shifting is mainly driven by the need for cutting GHG emissions and meeting up with ever rising green standards that exist globally. Thus, automotive applications use aluminum alloys both for weight efficiency and for increasing safety and performance on the car production line.
• Apart from the markets regulation, there have been evolution of manufacturing technologies and processes, and this has further enhanced the automotive companies to embrace the use of aluminum alloy. Techniques like the die casting and the extrusion processes have helped manufacturing companies/models to come up with good aluminum parts at cheap charges. However, the increase in customers for electric vehicles and hybrid vehicles is providing new opportunities in the automotive aluminium alloy market. Moreover, striving for increasingly greater efficiency of electric cars and hybrid cars the demand for lightweight materials also remains high, and therefore aluminum alloys continue to strengthen their positions in the automotive industry as one of the key materials for the manufacture of cars.

Automotive Aluminium Alloy Market Trend Analysis

Growing Adoption of Lightweight Materials

• Of all the trends identified in the market, the increasing utilisation of lightweight materials in automotive sectors constitutes one of the major shifts. Due to the efforts being made by manufacturers to try and improve fuel efficiency and emissions lightweight vehicles are currently in high demand. aluminium alloys presents an ideal solution to this challenge in view of its light weight and strength and durability on the field. This is further boost by the fact that consumers are becoming more conscious of vehicles with better fuel economy and performance. However, the greater adoption of superior production technologies like the 3D printing and various other forming techniques is easing the inclusion of aluminum alloys by automotive firms. The desire for lightweight vehicles will intensify in the future as car makers increasingly strive to offer environmentally friendly autos.

Rise in Electric Vehicle Production

• The increasing production of electric vehicles EV’s can act as a major growth factor for the Automotive Aluminium Alloy Market. As the world slowly shifts towards the use of sustainable transport, EV suppliers are now on the lookout for lightweight materials to enhance their battery capacity and thus enhance on EV’s overall range. Aluminium alloys are most appropriate for this application by virtue of its light weight and strength that facilitates the manufacture of thin-walled battery casings, chassis parts as well as some structural members. In addition, the global governments policies for incentives and regulations to push for EVs have also led to manufacturers undergoing capital intensive to establish more electric vehicles in the market. The establishment of this change also forms a strong market for aluminum alloys while developing new alloys and the ways of creating them at the same time. Therefore, companies in the automotive aluminium alloy industry have a unique opportunity to promote their products and enter new markets in relation to the development of the segment of electric vehicles and offer high-quality aluminium for the automotive industry to meet the requirements of this segment.

Automotive Aluminium Alloy Market Segment Analysis:

Automotive Aluminium Alloy Market Segmented on the basis of Vehicle Type, Electric Vehicle and Application.

By Vehicle Type, Passenger Vehicles segment is expected to dominate the market during the forecast period

• The Passenger Vehicles segment holds the largest share in the Automotive Aluminium Alloy Market and is predicted to grow faster during the next decade due to growing inclination of consumers towards lightweight and fuel efficient vehicles.. In considering integrated solutions for vehicle construction, and in the context of steadily growing concern over fuel efficiency and environmental standards for passenger vehicles, high-strength, lightweight and corrosion-resistant aluminum alloys make aluminum a strategic material. This segment is indeed enjoying a period of increasing demand, especially with the increased popularity of electric and hybrid cars which see much improved efficiencies especially if car lighter Materials and components are used improving on battery capacity.           
• In addition, the increasing focus on improved automobiles and progressive safety and technology has called for the use of aluminum alloys in some or most parts of car, such as body lines, frame, and interior. And as consumers are demanding car that offer better fuel efficiency, performance and eco-friendly cars, the Passenger Vehicles segment is expected to dominate the market further highlighting the critical role of aluminium alloys in today’s manufacturing of automobiles.

By Electric Vehicle, Battery electric vehicle segment expected to held the largest share

• Though, the growth of Aluminium Alloy Market in the coming years over the forecast period is high due to increased uses of electric vehicles globally. Sustainable mobility has gained consumer preference and BEVs take advantage of the concept of marginal social costs across the transport lifecycle due to zero emission and lower overall operating cost than ICEVs. Aluminum alloys can be used in BEVs due to the benefit they bring with them, it relates to weight loss which in effect boosts the range of the car and its efficiency. Aluminum alloys mean that manufacturers can provide a lightweight construction of battery casings as well as structural units; enhancing efficiency of the body panels.
• Also, as governments and the industry work to ensure you get charging points for BEVs and other incentives to encourage the use of electric cars, there will be increased demand. Thus, the focus on sustainable development and the search for higher efficiency in the automotive industry place the Battery Electric Vehicle segment at the forefront of the development of the automotive aluminum alloy market, which comprehensively confirms its market domination.

Automotive Aluminium Alloy Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• North America emerged as the largest market in the Global Automotive Aluminium Alloy Market in 2023 acquiring approximately 35% of the market percentage. This can be explained by the presence of large auto makers and high readiness to use lightweight materials to improve cars parameters and fuel consumption. Automotive giants in United States are exemplified in the following ones where they are using aluminum alloys in their car models more and more. The manufacturing facilities and the increasing research work activities being established in the respective region and the increasing trend of the consumers shifting towards the electric and the hybrid vehicles have strengthened the position in the market. Further, efforts and funds spent on research to produce new generations of aluminum alloys suitable to the Car manufacturing sector will continue to keep North American market dominant.

Active Key Players in the Automotive Aluminium Alloy Market

• Alcoa Corporation (USA)
• Aleris Corporation (USA)
• Aluminium Bahrain B.S.C. (ALBA) (Bahrain)
• China Hongqiao Group Limited (China)
• Constellium SE (Netherlands)
• Gränges AB (Sweden)
• Hindalco Industries Limited (India)
• Kaiser Aluminum Corporation (USA)
• Novelis Inc. (USA)
• RUSAL (Russia)
• Sapa Group (Norway)
• Shandong Nanshan Aluminum Co., Ltd. (China)
• Southwest Aluminum (Group) Co., Ltd. (China)
• UACJ Corporation (Japan)
• Vedanta Resources Limited (India) and Other Active Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: Automotive Aluminium Alloy Market by Vehicle Type
 4.1 Automotive Aluminium Alloy Market Snapshot and Growth Engine
 4.2 Automotive Aluminium Alloy Market Overview
 4.3 Passenger Vehicles
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Passenger Vehicles: Geographic Segmentation Analysis
 4.4 Light Commercial Vehicle
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 Light Commercial Vehicle: Geographic Segmentation Analysis
 4.5 Heavy Commercial Vehicle
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4 Heavy Commercial Vehicle: Geographic Segmentation Analysis
 4.6 Electric Vehicle
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Electric Vehicle: Geographic Segmentation Analysis

Chapter 5: Automotive Aluminium Alloy Market by Electric Vehicle
 5.1 Automotive Aluminium Alloy Market Snapshot and Growth Engine
 5.2 Automotive Aluminium Alloy Market Overview
 5.3 Battery electric vehicle
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Battery electric vehicle: Geographic Segmentation Analysis
 5.4 Hybrid electric vehicle
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Hybrid electric vehicle: Geographic Segmentation Analysis
 5.5 Plugin hybrid electric vehicles
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4 Plugin hybrid electric vehicles: Geographic Segmentation Analysis

Chapter 6: Automotive Aluminium Alloy Market by Application
 6.1 Automotive Aluminium Alloy Market Snapshot and Growth Engine
 6.2 Automotive Aluminium Alloy Market Overview
 6.3 Engine Component
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Engine Component: Geographic Segmentation Analysis
 6.4 Wheels
  6.4.1 Introduction and Market Overview
  6.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.4.3 Key Market Trends, Growth Factors and Opportunities
  6.4.4 Wheels: Geographic Segmentation Analysis
 6.5 Driveline
  6.5.1 Introduction and Market Overview
  6.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.5.3 Key Market Trends, Growth Factors and Opportunities
  6.5.4 Driveline: Geographic Segmentation Analysis
 6.6 Heat Exchanger
  6.6.1 Introduction and Market Overview
  6.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.6.3 Key Market Trends, Growth Factors and Opportunities
  6.6.4 Heat Exchanger: Geographic Segmentation Analysis
 6.7 Body
  6.7.1 Introduction and Market Overview
  6.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.7.3 Key Market Trends, Growth Factors and Opportunities
  6.7.4 Body: Geographic Segmentation Analysis
 6.8 Others
  6.8.1 Introduction and Market Overview
  6.8.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.8.3 Key Market Trends, Growth Factors and Opportunities
  6.8.4 Others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 Automotive Aluminium Alloy Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 ALCOA CORPORATION (USA)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 ALERIS CORPORATION (USA)
 7.4 ALUMINIUM BAHRAIN B.S.C. (ALBA) (BAHRAIN)
 7.5 CHINA HONGQIAO GROUP LIMITED (CHINA)
 7.6 CONSTELLIUM SE (NETHERLANDS)
 7.7 GRÄNGES AB (SWEDEN)
 7.8 HINDALCO INDUSTRIES LIMITED (INDIA)
 7.9 KAISER ALUMINUM CORPORATION (USA)
 7.10 NOVELIS INC. (USA)
 7.11 RUSAL (RUSSIA)
 7.12 SAPA GROUP (NORWAY)
 7.13 SHANDONG NANSHAN ALUMINUM CO.
 7.14 LTD. (CHINA)
 7.15 SOUTHWEST ALUMINUM (GROUP) CO.
 7.16 LTD. (CHINA)
 7.17 UACJ CORPORATION (JAPAN)
 7.18 VEDANTA RESOURCES LIMITED (INDIA)
 7.19 OTHER ACTIVE PLAYERS.

Chapter 8: Global Automotive Aluminium Alloy Market By Region
 8.1 Overview
 8.2. North America Automotive Aluminium Alloy Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Vehicle Type
  8.2.4.1 Passenger Vehicles
  8.2.4.2 Light Commercial Vehicle
  8.2.4.3 Heavy Commercial Vehicle
  8.2.4.4 Electric Vehicle
  8.2.5 Historic and Forecasted Market Size By Electric Vehicle
  8.2.5.1 Battery electric vehicle
  8.2.5.2 Hybrid electric vehicle
  8.2.5.3 Plugin hybrid electric vehicles
  8.2.6 Historic and Forecasted Market Size By Application
  8.2.6.1 Engine Component
  8.2.6.2 Wheels
  8.2.6.3 Driveline
  8.2.6.4 Heat Exchanger
  8.2.6.5 Body
  8.2.6.6 Others
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe Automotive Aluminium Alloy Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Vehicle Type
  8.3.4.1 Passenger Vehicles
  8.3.4.2 Light Commercial Vehicle
  8.3.4.3 Heavy Commercial Vehicle
  8.3.4.4 Electric Vehicle
  8.3.5 Historic and Forecasted Market Size By Electric Vehicle
  8.3.5.1 Battery electric vehicle
  8.3.5.2 Hybrid electric vehicle
  8.3.5.3 Plugin hybrid electric vehicles
  8.3.6 Historic and Forecasted Market Size By Application
  8.3.6.1 Engine Component
  8.3.6.2 Wheels
  8.3.6.3 Driveline
  8.3.6.4 Heat Exchanger
  8.3.6.5 Body
  8.3.6.6 Others
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Bulgaria
  8.3.7.2 The Czech Republic
  8.3.7.3 Hungary
  8.3.7.4 Poland
  8.3.7.5 Romania
  8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe Automotive Aluminium Alloy Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Vehicle Type
  8.4.4.1 Passenger Vehicles
  8.4.4.2 Light Commercial Vehicle
  8.4.4.3 Heavy Commercial Vehicle
  8.4.4.4 Electric Vehicle
  8.4.5 Historic and Forecasted Market Size By Electric Vehicle
  8.4.5.1 Battery electric vehicle
  8.4.5.2 Hybrid electric vehicle
  8.4.5.3 Plugin hybrid electric vehicles
  8.4.6 Historic and Forecasted Market Size By Application
  8.4.6.1 Engine Component
  8.4.6.2 Wheels
  8.4.6.3 Driveline
  8.4.6.4 Heat Exchanger
  8.4.6.5 Body
  8.4.6.6 Others
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 Netherlands
  8.4.7.5 Italy
  8.4.7.6 Russia
  8.4.7.7 Spain
  8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific Automotive Aluminium Alloy Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Vehicle Type
  8.5.4.1 Passenger Vehicles
  8.5.4.2 Light Commercial Vehicle
  8.5.4.3 Heavy Commercial Vehicle
  8.5.4.4 Electric Vehicle
  8.5.5 Historic and Forecasted Market Size By Electric Vehicle
  8.5.5.1 Battery electric vehicle
  8.5.5.2 Hybrid electric vehicle
  8.5.5.3 Plugin hybrid electric vehicles
  8.5.6 Historic and Forecasted Market Size By Application
  8.5.6.1 Engine Component
  8.5.6.2 Wheels
  8.5.6.3 Driveline
  8.5.6.4 Heat Exchanger
  8.5.6.5 Body
  8.5.6.6 Others
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa Automotive Aluminium Alloy Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Vehicle Type
  8.6.4.1 Passenger Vehicles
  8.6.4.2 Light Commercial Vehicle
  8.6.4.3 Heavy Commercial Vehicle
  8.6.4.4 Electric Vehicle
  8.6.5 Historic and Forecasted Market Size By Electric Vehicle
  8.6.5.1 Battery electric vehicle
  8.6.5.2 Hybrid electric vehicle
  8.6.5.3 Plugin hybrid electric vehicles
  8.6.6 Historic and Forecasted Market Size By Application
  8.6.6.1 Engine Component
  8.6.6.2 Wheels
  8.6.6.3 Driveline
  8.6.6.4 Heat Exchanger
  8.6.6.5 Body
  8.6.6.6 Others
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkey
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America Automotive Aluminium Alloy Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Vehicle Type
  8.7.4.1 Passenger Vehicles
  8.7.4.2 Light Commercial Vehicle
  8.7.4.3 Heavy Commercial Vehicle
  8.7.4.4 Electric Vehicle
  8.7.5 Historic and Forecasted Market Size By Electric Vehicle
  8.7.5.1 Battery electric vehicle
  8.7.5.2 Hybrid electric vehicle
  8.7.5.3 Plugin hybrid electric vehicles
  8.7.6 Historic and Forecasted Market Size By Application
  8.7.6.1 Engine Component
  8.7.6.2 Wheels
  8.7.6.3 Driveline
  8.7.6.4 Heat Exchanger
  8.7.6.5 Body
  8.7.6.6 Others
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research