Aluminum Alloys Market for Transportation, Construction, Packaging, Machinery, Electrical and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020
Albany, NY -- (SBWIRE) -- 01/20/2015 -- Transparency Market Research has released a new market report titled "Aluminum Alloys Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020." According to the report, the global aluminum alloys market was valued at US$ 91.23 Bn in 2013 and is projected to reach US$ 126.5 Bn by 2020, expanding at a CAGR of 4.8% from 2014 to 2020.
Browse the full Aluminum Alloys Market for Transportation, Construction, Packaging, Machinery, Electrical and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020 report at http://www.transparencymarketresearch.com/aluminum-alloys-market.html
Aluminum alloys, in general, are the alloys, wherein an alloying metal is added to the base metal (aluminum) to improve the properties of pure aluminum and make it suitable for specific applications. Aluminum is the base element in these alloys; therefore, the content of aluminum is the highest. Transportation was the largest end-user segment of the global aluminum alloys market in 2013, due to rising demand from industries such as automotive, aerospace and marine. In terms of volume, the transportation segment accounted for more than 40% of the global market in 2013.
Transportation is estimated to be the fastest growing segment of the global aluminum alloys market in the next few years. Rise in industrialization and increasing need for superior means of commuting has boosted the industry in the last decade. Steady growth in industries such as automotive, aerospace and marine is responsible for the advancement of the transportation end-user segment. Higher focus on the usage of hard but lightweight aluminum alloys for producing durable components and for increasing the fuel efficiency of vehicles is projected to drive demand for aluminum alloys in the automotive market in the next few years. Furthermore, rising demand for light-weight and high-strength components for various aerospace applications is anticipated to drive demand for aluminum alloys in the global aerospace industry in the next six years. Furthermore, due to the increasing requirement for low self-weight of ships and high corrosion resistance ability, the demand for light-weight aluminum alloys in the marine industry is expected to rise at a rapid rate in the next few years.
Asia Pacific dominated the global aluminum alloys market, accounting for more than 60% share in terms of volume in 2013. Increasing demand for aluminum alloys in transportation and construction segments is likely to drive the aluminum alloys market in Asia Pacific in the next six years. Asia Pacific is anticipated to be the fastest growing region in the aluminum alloys market in the next few years. Rising demand for aluminum alloys in rapidly developing nations in Asia, such as India and China, is estimated to drive the aluminum alloys market in Asia Pacific in the next six years. Factors such as steady economic recovery in the U.S. and Europe and higher demand for aluminum alloys in RoW are likely to drive the global aluminum alloys market in the next few years. Key players operating in the aluminum alloys industry include United Company RUSAL Plc, Alcoa Inc., Aluminum Corp. of China Ltd., Norsk Hydro ASA, and Dubai Aluminum Co. Ltd.
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The report segments the global aluminum alloys market as:
Aluminum Alloys Market - End-user Analysis
Others (including sports goods)
Aluminum Alloys Market - Regional Analysis
RoW (South America, Africa and the Middle East)
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