Lucintel’s latest market report analyzed that automotive aluminum provides attractive opportunities in the passenger cars and commercial vehicles market. The automotive aluminum market is expected to reach $43.2 billion by 2025 with a CAGR of 6.1%. In this market, cast aluminum is the largest segment by product form, whereas passenger car is largest by vehicle type. The increasing use of aluminum in chassis and structural applications and development of advance manufacturing technologies to enhance the material strength provides strategic growth path in this market.
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Based on product form, the automotive aluminummarket is segmented into cast aluminum, rolled aluminum, extruded aluminum, others. The cast aluminum segment accounted for the largest share of the market in 2020, as 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.
Browse in-depth TOC on “Automotive Aluminum Market”
124 – Tables
151 – Figures
The automotive aluminum market is marked by the presence of several big and small players. Some of the prominent players offering automotive aluminum include Alcoa Inc., Novelis Inc., Norsk Hydro ASA, Constellium N.V., Kaiser Aluminum Corp., Aleris International, Inc., Aluminum Corporation of China Limited, Vimetco N.V.
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