Title: Aluminum Alloys Market pdf report; Product analysis, Market Size, industry share by 2024
1Aluminum Alloys Market Report Product Analysis,
Size, Industry Share by 2024
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2- Aluminum alloys market is expected to chart a
lucrative growth map over the coming years,
driven by the wide product applications across
the electrical, transportation, machinery,
construction, and packaging sectors - Escalating need for light weight alloys to
improve the vehicle performance will help the
industry players in expanding their product
portfolio and exploring new business growth
avenues. - Transportation sector, which contributed over 45
of aluminum alloys industry share in 2016, is
foreseen to display a CAGR of over 5.5 over the
coming seven years. The high popularity of
light-weight vehicles and aircrafts among the
end-users will boost the product demand.
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3- Construction sector, which contributed over USD
20 billion towards aluminum alloys market revenue
in 2016, is predicted to produce a revenue of
more than USD 35 billion by 2024. Favorable
product features such as lightweight and
resilience makes aluminum alloys more desirable
across the construction sector. - Aluminum alloys industry has laid strong
foundation bases across key geographies. For
instance, Asia Pacific alloys market, which
contributed over 60 of the overall industry size
in 2016, is slated to record a CAGR of over 5.5
during the period from 2017 to 2024. - Rapidly expanding construction and vehicle
manufacturing sectors across the countries such
as India, China, and Japan will favorably
influence the business sphere. A heavy presence
of automobile and aeronautical firms across
countries such as Italy, Germany, France, and the
UK will lucratively impact the growth curve of
aluminum alloys industry in Europe. - Aluminum alloys can be categorized into cast and
wrought alloys. Wrought alloys are expected to
make major contributions toward global aluminum
alloys market size over the years to come, owing
to their lightweight characteristics and high
tensile strength
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5- Heavy demand for producing mechanical components
of a specific type through specialty engineering
will have a major impact on the growth of cast
aluminum alloys industry. - The wrought alloy is anticipated to gain a
significant share of aluminum alloys market,
owing to its light-weight and high tensile
strength properties. Cast alloys on the other
hand will pick up demand from specialty
engineering and from specific requirement of
mechanical parts. The ability of customization of
cast alloys to provide desired characteristics
pertaining to specific applications will propel
the product demand. - Aluminum alloys market is highly competitive with
major players contributing over 25 of the
overall industry share in 2016. - UACJ Corporation, Rio Tinto Alcan Incorporation,
Aleris International Incorporation, Norsk Hydro
ASA, Kobe Steel Limited, Aluminium Bahrain B.S.C,
Aleris International Incorporation, Magna
International Incorporation, Kaiser Aluminum and
Chemicals Corporation, IBC Advanced Alloys
Corporation, Alcoa Corporation, and United
Company RUSAL are the key industry participants.
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6Competitive Trends
- The notable industries in Aluminum alloys are
- Alcoa
- United Company RUSAL
- Aluminium Bahrain
- Dubai Aluminium Company
- Aleris International
- UACJ Corporation
- Rio Tinto Alcan
- IBC Advanced Alloys Corp.
- Norsk Hydro
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