Aluminum Alloys Market Size Worth USD 237.76 Billion in 2032| Emergen Research

The global aluminum alloys market size was USD 128.32 Billion in 2022 and is expected to register a steady revenue CAGR of 6.4% during the forecast period, according to latest analysis by Emergen Research. Rising demand for lightweight materials with high strength and thermal and electrical conductivity, and increasing usage of aluminum alloys in aircraft components are key factors driving market revenue growth.

Aluminum can be used in harsh environments exposed to sunlight, rain and water due to their resistance to oxidation and corrosion. Aluminum's strong conductivity properties make it useful in electrical engineering and an excellent material for heat sinks and power supply. Aluminum is also frequently utilized as an insulator or protective coating on wires and other electrical components in electronic circuits. In addition, aluminum foil can be used to construct airtight seals on food containers or packaging materials, which helps to keep things fresh while these are kept or shipped. Aluminum alloys are widely utilized in aerospace engineering because of their high strength-to-weight ratio, which decreases overall aircraft weight while maintaining structural integrity and performance capabilities.

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Some Key Highlights From the Report
• The wrought alloy segment is expected to account for largest revenue share in the global aluminum alloys market over the forecast period. This is due to rising use of wrought alloy for food packaging and consumer products as it is cheaper. Wrought aluminum is an alloy that has undergone mechanical working procedures, which includes extrusion, rolling, and forging. Aluminum accounts for approximately 85% of the weight of wrought aluminum, which can be divided into two groups heat-treatable alloys and non-heat-treatable alloys.

• The high strength segment is expected to register steadily fast revenue growth rate in the global aluminum alloys market over the forecast period. This is increasing use of high-strength aluminum alloys due to their superior workability and high specific strength, which are the major structural material for aircrafts. The 7000 series alloys have greatest strength of any aluminum alloy but have inferior fatigue properties than the 2000 series alloys. Among these, 2024 of the 2000 (Al-Cu-Mg) series and 7075 of the 7000 (Al-Zn-Mg) series have seen widespread application.

• The aerospace & defense segment is expected to account for significantly large revenue share in the global aluminum alloys market over the forecast period. This is due to rising adaptability of aluminum alloys' in the aerospace sector, which enables these to be used in the manufacture of less expensive and more reliable aircraft. 2024 Aluminum alloy is widely used in aerospace and aircraft components, which has a high tensile strength, is treatable, and resistant to stress. Aluminum 2024 plate and sheet are suited for structural, aviation wing, and maintenance applications.

Some major players included in the global aluminum alloys market report are:

• Alcoa Corporation
• Norsk Hydro ASA
• RusAL
• Novelis (Hindalco Industries Limited)
• Rio Tinto
• Shandong Sino Aluminum Co., Ltd.
• China Hongqiao Group Limited
• Emirates Global Aluminum PJSC
• South32
• Constellium
• Vedanta Aluminum & Power
• Hindalco Industries Ltd.
• Aleris International, Inc.
• Arconic Corporation
• Kaiser Aluminum

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Emergen Research has segmented the global aluminum alloys market on the basis of alloy type, strength type, end-use, and region:

• Alloy Type Outlook (Revenue, USD Billion; 2019-2032)
o Wrought Alloy
o Cast Alloy
• Strength Type Outlook (Revenue, USD Billion; 2019-2032)
o High Strength
o Ultra-High Strength
• End-use Outlook (Revenue, USD Billion; 2019-2032)
o Automotive & Transportation
o Aerospace & Defense
o Marine
o Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. UK
4. Italy
5. Spain
6. Benelux
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of Middle East & Africa

Radical Highlights of the Aluminum Alloys Market Report:
• Comprehensive overview of the Aluminum Alloys market along with analysis of the changing dynamics of the market
• Growth Assessment of various market segments throughout the forecast period
• Regional and global analysis of the market players, including their market share and global position
• Growth strategies adopted by key market players to combat the impact of the COVID-19 pandemic on the market
• Impact of the technological developments and R&D advancements on the Aluminum Alloys market
• Information about profit-making strategies and developmental strategies of major companies and manufacturers
• Insightful information for the new entrants willing to enter the market
• Details and insights about business expansion strategies, product launches, and other collaborations
• The report incorporates advanced analytical tools such as SWOT analysis, Porter's Five Forces Analysis, feasibility analysis, and investment return analysis

Interested in knowing more relevant information? Click here: https://www.emergenresearch.com/industry-report/aluminum-alloys-market

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