Alloys for Automotive Market Overview:

Alloys play a crucial role in the automotive industry as they provide the necessary strength, durability, and corrosion resistance to various automotive components. Here is an overview of alloys used in the automotive market:

1. Aluminum Alloys: These alloys are widely used in the automotive industry due to their low density, high strength-to-weight ratio, and excellent corrosion resistance. They are used in various applications such as engine blocks, wheels, and body panels.

2. Steel Alloys: Steel alloys are used in the automotive industry due to their high strength, toughness, and durability. They are used in various applications such as structural components, chassis, and suspension systems.

3. Magnesium Alloys: Magnesium alloys are lightweight and offer high strength-to-weight ratios. They are used in various automotive applications such as engine blocks, wheels, and transmission cases.

4. Copper Alloys: Copper alloys are used in automotive components such as bearings, bushings, and electrical contacts. They offer high conductivity and excellent resistance to corrosion.

5. Titanium Alloys: Titanium alloys are lightweight and offer high strength-to-weight ratios. They are used in various automotive applications such as valves, springs, and connecting rods.

Overall, alloys are an essential component of the automotive industry and are used in various applications to improve the performance, efficiency, and safety of vehicles.

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Top Boosters and Main Restraints

Despite the COVID-19 crisis, the alloys for automotive market can remain steady in the coming years, thanks to the expanding worldwide population and the consequent boost in the need for efficient conveyance. This has evidently been the main reason for the rising number of commercial and passenger automobiles across the world. Alloys are being increasingly used for the manufacturing of vehicles as they offer more number of advantages compared to individual components. Resistance to corrosion, improved strength and higher ductility are some of the prominent benefits of alloys and as result, their rising deployment in automobiles can benefit the automobile sector in a major way.

The automotive industry has been gradually shifting towards light weighted vehicles, with major focus on research and development to facilitate fuel economy of vehicles. High fuel efficiency has a direct impact on the vehicle weight, leading to reduction in the weight of automobiles. This results in higher demand for light weighted alloys for different automotive body parts, which compels OEMs to use lighter weight materials in their vehicles.

Some macroeconomic factors that can also benefit the automotive alloys market include the rapid urbanization along with regulations pertaining to fuel efficiency as well as greenhouse emissions. Moreover, with the increasing use of magnesium and aluminum alloys, their prices are falling and can therefore, note higher demand in the years to come. 

Alloys for Automotive Market Segmentation

The alloys for automotive market can be considered for type, backing application and vehicle type.

The market segmentation by type includes titanium, steel and iron.

Backing applications covered in the market study are powertrain as well as chassis.

Vehicle types are passenger vehicles and commercial vehicles.

Alloys for Automotive Market Regional Insight

Europe, North America, APAC or Asia Pacific and the Rest of the World or RoW are the top markets for allows for automotive, across which the prevalent trends and opportunities have been reviewed in the report.

APAC is the most bankable market for alloys for automotive, followed by North America and Europe. The market performance in the region has been remarkable as a result of the rising annual vehicle production as well as the surge in the demand for vehicles. Japan, India and China are the most profitable markets in the region, as they are known for housing a number of leading automobile manufacturers. The region is also known for being homes to a large number of well-established vendors dealing in alloys for automotive. High availability raw metals, like aluminum, iron, steel, copper, and more that are used to fabricate automotive alloys can also accelerate the growth of the regional market in the following years.

With a considerable share in the global market, North America ranks among the strongest regions across the globe. The market in North America benefits from the extensive consumption of cars among people for commuting. Not only is the U.S. the second biggest car producer in the world but also houses some of the most prominent giants of the automobile sector, including General Motors, Chrysler and Ford. These factors induce massive market growth in the region. Moreover, strict government norms are prompting automotive producers to increasingly use alloys in their vehicles, leading to better business growth in the region.

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Alloys for Automotive Market Leading Competitors

Leading competitors in the market are UACJ Corporation (Japan), Aditya Birla Group (India), Alcoa Inc. (U.S.), Norsk Hydro ASA (Norway), Kobe Steel, Ltd. (Japan), ArcelorMittal SA (Luxembourg), Constellium (Netherlands), ThyssenKrupp AG (Germany), AMG Advanced Metallurgical Group NV (Netherlands), AGCO Corporation (U.S), to name a few.

Alloys for Automotive Market Latest News

May 2020

Auto giant Suzuki (Japan) recently revealed its 2020 edition of the popular car, Swift in the country. The updated model comes with a few changes this time, featuring new alloy wheels, dual-tone paint-work as well as blacked-out B-pillars.

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