Aluminum Alloys Market Size & Share 2017 - 2024
Market Size by Product (Wrought, Cast), by End User (Transportation, Construction, Packaging, Machinery, Electrical), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast.
Report ID: GMI1527
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Published Date: April 2017
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Report Format: PDF
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Authors:
Kiran Pulidindi, Akshay Prakash
Aluminum Alloys Market Size
Aluminum Alloys Market size was registered at over $100 billion by 2016 gaining the industry by CAGR over 5% from 2017 to 2024. Rising global tourism and corresponding demand for air, water, as well as land transportation and increasing demand for superior means of commuting in order to meet the needs for the growing industrialization will further augment the industry growth.
Worldwide automotive sales crossed 90 million units in 2016 from less than 80 million units in 2011, growing considerably after the economic slowdown of the previous decade. Majority of the passenger car sales were concentrated in the Asia Pacific region owing to the rapidly increasing GDP and purchase power of the population of China, India, and Japan. Increasing demand for light weight alloys for enhancing the vehicle performance and efficiency will have a positive influence on the aluminum alloys market in coming years.
Asia Pacific GDP growth was recorded at more than 5% in 2014, of which manufacturing contributed for a significant chunk. Overall industrial developments in China, India, South Korea, Japan, and Indonesia will play a major role in the global market in coming years. Availability of cost-efficient workforce accompanied with lenient industrial norms have invited several manufacturing conglomerates to shift their manufacturing bases in this region. Wide range of industrial application of the product including die casting, manufacturing machineries and equipment will have a positive impact on the aluminum alloys market share.
Poorly regulated bauxite mining in the straits of Malaysia and Indonesia has created several concerns regarding the ecological impact. Rise of respiratory and skin diseases due to exposure to mining dusts may pose threats to the aluminum alloys market as aluminum is procured from these ores. In the European Union bauxite mining is governed by a European Innovation Partnership (EIP) body named Bauxite Residue and Aluminium Valorisation Operations (BRAVO) which focuses on improving the aluminum value chain and secondary raw material recovery.
Aluminum Alloys Market Analysis
On the basis of product, it is segmented into wrought alloy and cast alloy. Wrought alloy has higher tensile strength in cast alloys and has more aluminum content, making it a popularly used product category. It is lighter in weight and is normally free from common casting defects such as porosity and shrink. With increasing demand for lighter and stronger metal for fabrication of different mechanical parts, global aluminum alloys market segment will witness substantial gain in coming years.
Cast alloys are manufactured with other elements including silicon, copper, magnesium, zinc, and tin, in order to provide the required characteristics for specific applications. For instance, aluminum-tin alloy exhibits low strength but extremely high wear resistance, while aluminum-copper alloys have high strength and low corrosion resistance. Specialty engineering for development of specifically required mechanical parts will have a positive influence on the global cast aluminum alloys market.
Transportation industry is the most significant end-user industry and will hold sway the aluminum alloys market, both in term of volume and revenue throughout the forecast span. Increasing demand for light weight automobiles and aircrafts to enhance the fuel efficiency will drive the product application in this industry in coming years. Transportation industry accounted for more than 45% share of the global market in 2016 and will exhibit growth at more than 5.5% CAGR through 2024.
Construction sector registered more than USD 20 billion in 2016. Increasing urbanization all over the globe and requirement of shelters for the continuously increasing population will augment the aluminum alloys market growth in the coming years. Light weight and strength gives them superiority over iron and steel products used in the construction sector.
Asia Pacific accounted for more than 60% of the global share in 2016 and will witness growth by a CAGR more than 5.5% in the forecast years. Aggressive developments in the construction, automotive, and marine industry in China will signify the regional industry growth in the next few years. Growing industrialization in India and Southeast Asian countries will further augment the aluminum alloys market sales.
Presence of several high-end automotive and aeronautical companies in Europe, especially in Germany, UK, France, and Italy, will positively influence the regional market in coming years. Technologically advanced manufacturing units are primarily driven by increasing the product efficiencies. Aluminum alloys market demand in these countries will grow on the account of increasing demand for performance products in the end-user industries.
Aluminum Alloys Market Share
Aluminum alloys industry competitive landscape is moderately fragmented with the top four manufacturing companies, namely
accounting for more than a quarter of the global share in 2016. Other key industry players include
The aluminum alloys market ecosystem has a considerable amount of backward integration as major manufacturers try to secure the bauxite sources for product consistency. The companies also strengthen their market hold with continuous R&D effort for product development along with strategic acquisitions and mergers. For instance, Kaiser Aluminum acquired Alexco LLC in 2011 to expand their product portfolio for the aerospace sector.
Aluminum alloys Industry is highly dependent on the availability of bauxite ore for the extraction of aluminum. The market participants rely on a strong supply chain to maintain the continuous supply of the raw material as well as distribute the product to various end-user industries. Owing to a wide range of application, aluminum alloys industry demand will witness a noteworthy growth in the coming years.
Aluminum alloys market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2013 to 2024, for the following segments:
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By Product
By End User Industry
The above information is provided on a regional and country basis for the following:
By Region
Research methodology, data sources & validation process
This report draws on a structured research process built around direct industry conversations, proprietary modelling, and rigorous cross-validation and not just desk research.
Our 6-step research process
1. Research design & analyst oversight
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2. Primary research
Primary research forms the backbone of our methodology, contributing nearly 80% to overall insights. It involves direct engagement with industry participants to ensure accuracy and depth in analysis. Our structured interview program covers regional and global markets, with inputs from C-suite executives, directors, and subject matter experts. These interactions provide strategic, operational, and technical perspectives, enabling well-rounded insights and reliable market forecasts.
3. Data mining & market analysis
Data mining is a key part of our research process, contributing nearly 20% to the overall methodology. It involves analysing market structure, identifying industry trends, and assessing macroeconomic factors through revenue share analysis of major players. Relevant data is collected from both paid and unpaid sources to build a reliable database. This information is then integrated to support primary research and market sizing, with validation from key stakeholders such as distributors, manufacturers, and associations.
4. Market sizing
Our market sizing is built on a bottom-up approach, starting with company revenue data gathered directly through primary interviews, alongside production volume figures from manufacturers and installation or deployment statistics. These inputs are then pieced together across regional markets to arrive at a global estimate that stays grounded in actual industry activity.
5. Forecast model & key assumptions
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✓ Key growth drivers and their assumed impact
✓ Restraining factors and mitigation scenarios
✓ Regulatory assumptions and policy change risk
✓ Technology adoption curve parameter
✓ Macroeconomic assumptions (GDP growth, inflation, currency)
✓ Competitive dynamics and market entry/exit expectations
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Our triple-layer validation process ensures maximum data reliability:
✓ Statistical Validation
✓ Expert Validation
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Verified data sources
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GMI archive
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