Aluminum
is found in nature in the form of aluminum sulfates and can also be
produced from bauxite, which comprises various elements such as
aluminum hydroxide, silicon, titanium, sulfur, gallium, vanadium
oxides, chromium, iron, sulfuric calcium, and magnesium carbonates,
among others. Aluminum is significantly lighter than steel, has good
tensile strength, and is easier to mold, making it a preferred choice
in various industries. Vehicles manufactured using advanced aluminum
alloys are more fuel efficient, with less life-cycle carbon emissions
as compared to vehicles manufactured using steel. Aluminium is
versatile in nature, which enables automobile manufacturers to
combine it with other metals or with materials such as fiberglass and
plastics to enhance specific properties. Also, aluminium has the
capacity to absorb twice the crash energy as compared to mild steel,
which makes it safer.
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Automotive
manufacturers are focusing on improving performance, fuel economy and
reducing emissions, without affecting the size, safety and
capability, a factor that has led to significant growth of the
automotive aluminum market.
Automotive
Aluminum Market Taxonomy
On
the basis of type of product type, Global market is classified into:
-
Aluminium Castings
-
Aluminium Extrusion
-
Aluminium Sheets
-
Flat rolled products
On
the basis of vehicle type, Global market is classified into:
-
Passenger Cars
-
Light commercial vehicles
-
Heavy commercial vehicles
On
the basis of sales channel, Global market is classified into:
-
Original equipment manufacturer
-
Aftermarket
Aluminium
castings are used in various parts of automobiles such as alternator
housing, carburetors, wheels, valve covers, engine block,
transmission housings, wheel spacer, impellers, and fan clutch.
Aluminium sheets are used in complete vehicle body, structural
components, car trims and sealing, body panels, side walls, hood,
doors, and trunks. Extruded aluminium is used to manufacture roof
rails and sunroofs. The use of aluminium in automobiles has provided
numerous benefits such as good formability, great potential in weight
reduction, excellent corrosion behavior in presence of thermal load,
high yield strength, and dent resistance capability, high-quality
surface finish and recyclability. Original equipment manufacturers
contribute a major share in the automotive aluminum market.
Automotive
Aluminum Market Outlook – Rising demand for lightweight and fuel
efficient automobiles supplementing market growth
North
America is expected to dominate the automotive aluminum market over
the forecast period. This is mainly attributed to the stringent
implementation of yield strength standards. CAFÉ Standards were
implemented in the U.S. in order to reduce energy consumption by
increasing fuel economy in cars, van, light trucks, and heavy trucks.
This has augmented growth of the market in the region. Asia Pacific
is expected to follow North America in the consumption of automotive
aluminium. This is mainly attributed to increasing discretionary
income in the region and supportive government initiatives,
especially in the growth engines of the region — China and India.
For instance, the Indian government allows for 100% FDI in the
automotive industry, which accounts for 7.1% of the country’s GDP.
Furthermore, as highlighted by India Brand Equity Foundation (IBEF),
the Indian government aims to make automobiles manufacturing the
mainstay of its ambitious Make in India initiative and projects the
passenger vehicles market to triple to 9.4 million units by 2026, as
highlighted in the Auto Mission Plan (AMP) 2016–2026. This trend is
expected to follow over the forecast period. ASI Performance
Standard (Principles and Criteria launched December 2014) and ASI
Chain of Custody Standard govern the automotive aluminum industry.
These standards are applicable on all the phases of manufacturing
aluminium which include bauxite mining, alumina purification, primary
aluminium production, stages such as rolling, forging, extrusion and
foundry, material alteration, and refining and re-melting of recycled
scrap.
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High
cost of automotive aluminium as compared to steel and cast iron is
one of the restraining factors for the automotive aluminum market.
Also, introduction of new materials like reinforced plastic has
restrained the market growth of automotive aluminum on a global
scale. Research and development on alternative methods to produce
aluminium at a lower cost and ecofriendly manufacturing processes to
reduce environmental damage are some of the key strategies adopted by
the top market players. Some of the companies operating in the global
automotive aluminum market are Alcoa Inc., Arconic Inc., UACJ
Corporation, CHALCO, AMG Advanced Metallurgical Group, Norsk Hydro
ASA, Constellium N.V., Novelis Inc., and Rio.
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