Albany, NY -- (SBWIRE) -- 11/28/2016 -- 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.

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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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