The future of aluminum in the global automotive industry looks good with opportunities in the segments of passenger cars and commercial vehicles. Aluminum in the global automotive industry is expected to reach an estimated $42.4 billion by 2022 and it is forecast to grow at a CAGR of 7.4% from 2017 to 2022.
The major drivers of growth for this market are increasing vehicle production, government regulations on the fuel economy and emission controls, increasing stringent safety regulations, and increasing gasoline prices.
Emerging trends, which have a direct impact on the dynamics of the aluminum in the global automotive industry, include increasing use of aluminum in chassis and structural applications. Asia Pacific is expected to remain the largest region due to high vehicle production, improving economic conditions, and increasing investments by the industry players within the APAC region. Within the global automotive aluminum industry, the cast aluminum segment is expected to remain the largest market. Casting is a simple, inexpensive, and versatile way of forming aluminum into a wide array of products, which is expected to spur growth for this segment over the forecast period.
Aluminum in the global automotive industry companies profiled in this market include Alcoa Inc., Novelis Inc., Norsk Hydro ASA (ADR), Constellium N.V., and Aleris International are the major aluminum suppliers in the global automotive industry.
Scope of the Report
Aluminum in the global automotive industry by vehicle type ($ Million and kilo tons from 2011 to 2022)