Pune, India -- (SBWire) -- 05/29/2018 --Consumption by End-user
The most significant end-user, holds almost 42% of the Aluminum Market and this includes users in Japan. Along with this 36% of North American and West European aluminum shipments also has a major share in the growth of the market. This is almost opposite to the situation which existed 40 years ago when this end-user market was responsible for just 20% of total consumption of aluminum in the United States, Japan or Germany. According to MRFR analysis, firm in this field, like automakers are using aluminum more as compared to other materials to be used in making new car and light truck so that they are safe, cost effective as well as lightweight. North American auto producers say that since light weight vehicles uses less fuel and have less automobile emission which makes aluminum the most demanded material in the engine and wheel market and is thus gaining market share. Aluminum usage increased every year for nearly 35 years and in 2010 its usage was 150kg in 2010 and should be around 156kg in 2012. Stricter fuel rules will make way for aluminum to be used in bumpers, heat shields, brake calipers, ABS and driveline components, cylinder heads and bed plates.
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However, the major challenge of the market still remains which includes using other metal instead of aluminum. One of the major challenge is from the steel industry which continues to invest millions of dollars to demonstrate that strong steels can be used to provide the same savings as derived from aluminum; composites (like carbon fiber). Here steel stands to be a serious competitor in the automotive and aerospace sectors with respect to use of aluminum in these sectors. Although steel has a cost and repair disadvantages, their price is coming down which also offers improved corrosion properties and good aesthetics.
Aluminum Product Trends
Aluminum products are used in various industries such as transportation, packaging, construction, and others. 40% of the Global Aluminum Market's products was used in the transportation industry in 2015. The construction industry is expected to grow due to better lifestyle and increase in disposable incomes of the population of both developed and developing economies. The packaging industry is also one of the major end-users of the Aluminum Market and it is expected that this industry will grow significantly. The increasing demand of aluminum is directly proportional to the growing demand for value-added and recycled products. Aluminum Industry does not have any bad effect on the environment due to which demand of the Aluminum Industry has increased. The growing preference of aluminum products for sustainable and innovative technology will also drive the aluminum market globally.
Global Aluminum Market mainly includes automotive and construction industries due to better and modern lifestyle which is followed in Asia Pacific and North America.
Global Aluminum Market Players:
United Company Rusal
Aluminum Corporation of China Limited
Alcoa Inc.
BHP Billiton GroupRio Tinto
Norsk Hydro Asa
Century Aluminum Company
Rio Tinto
China Hongquiao Group Limited
Aluminum Bahrain B.S.C.
Hindalco Indsutries Limited
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Aluminum Market: Application Analysis, Regional Outlook, Competitive Strategies & Forecast by 2023