Automotive Aluminum Market in the APAC Region 2015-2019
About Automotive Aluminum
Aluminum and its alloys have unique properties such as lightweight, high tensile strength, and high corrosion resistance, making it a good replacement for steel that has conventionally been used to make a vehicle's body and its components. It offers a fast, cost-effective, and an environmentally friendly way to boost fuel economy, reduce emissions, and increase performance, enhancing or maintaining durability and safety. A vehicle with components made of aluminum is about 24 percent lighter than that with components made of steel.
TechNavio's analysts forecast the Automotive Aluminum market in the APAC region to grow at a CAGR of 7.95 percent over the period 2014-2019.
Covered in this Report
This report covers the present scenario and the growth prospects of the Automotive Aluminum market in the APAC region for the period 2015-2019. To calculate the market size, the report considers the revenue generated through sales of automotive aluminum across all geographies. It analyzes the sales of automotive aluminum to OEMs.
TechNavio's report, Automotive Aluminum Market in APAC 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the Automotive Aluminum market landscape in the APAC region and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
TechNavio Announces the Publication of its Research Report – Automotive Aluminum market in the APAC Region 2015-2019
TechNavio recognizes the following companies as the key players in the Automotive Aluminum market in the APAC Region: Alcoa Inc., Aluminum Corporation of China Ltd., Rio Tinto Alcan Inc. and United Co. RUSAL plc
Other Prominent Vendors in the market are: BHP Billiton, Constellium, Dubai Aluminum, Jindal Aluminum, Kaiser Aluminum, Lorin Industries, Norsk Hydro, Novelis, Sapa, Shiloh, Vedanta Aluminum and Vimetco
Commenting on the report, an analyst from TechNavio’s team said: “An increase in net aluminum pounds per vehicle is one of the major trends being witnessed in this market. With strict regulations and new initiatives for emission reduction, demand for better automotive aluminum is increasing. The use of aluminum is highest in the body and bumper, followed by cross members, suspension, steering, wheels, brake, and engine, respectively.”
According to the report, the growth of the market is attributed to a rise in automobile production and sales in the APAC region. Demand for automobiles, especially for passenger vehicles, directly influences demand for automotive aluminum.
Further, the report states that fluctuating aluminum prices are an increasing concern for vendors in the market. As prices of aluminum have been increasing over the years, the operating costs of vendors have increased substantially, negatively affecting their profit margins.
Alcoa, Aluminum Corporation of China, Rio Tinto Alcan, United Company RUSAL, BHP Billiton, Constellium NV, Dubai Aluminum, Jindal Aluminum, Kaiser Aluminum, LorinIndustries, Norsk Hydro, Novelis, Sapa Group, Shiloh Industries, Vedanta Aluminum, Vimetco NV
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