research analysis on “Secondary Aluminum Alloys Market: Global Demand Analysis & Opportunity Outlook 2035 delivers a detailed competitor’s analysis and a detailed overview of the global secondary aluminum alloys market in terms of market segmentation by type, strength, end-use industry, and region.
The Expansion of the Automobile Sector Worldwide to Drive the Growth of Secondary Aluminum Alloys Market
The rising growth of the automobile industry is anticipated to boost the demand for secondary aluminum alloys in the upcoming years. The automotive sector faces the challenge of satisfying the growing demand for vehicles with reduced energy consumption and air pollution. Aluminum is a promising substitute for the commonly available denser materials such as steel or copper in automobiles to meet the increasing need for fuel efficiency. According to a recent study conducted by WardsAuto, a U.S.-based automotive trade magazine, and DuPont Automobile, a U.S.-based manufacturer of automobiles, aluminum is now being considered the primary choice to enhance the fuel efficiency and emissions of automobiles and light trucks. On account of its unique properties such as a significant ratio of strength to weight, excellent formability, resistance to corrosion, and recycling potential, it is a perfect solution for reducing car weight.
Growth Drivers:
• Rising demand for sustainable products
• Increasing adoption of secondary aluminum in manufacturing
Challenges:
The availability of alternative composite materials with maximum strength and the slow adoption of automation in the aluminum industry so far are some of the major factors anticipated to hamper the growth of the global secondary aluminum alloy market. The aluminum scrap recycling sector is not entirely automated and depends heavily on manual labor for tasks such as organizing, cleaning, and separating the scrap. To reduce capital expenditures, many medium-sized and small producers choose to operate semi-mechanized facilities. However, this excessive reliance on labor as opposed to investment in automated operations can result in lower productivity and a lack of quality control, particularly when compared to larger industry competitors.
By end-user industry, the secondary aluminum alloys market is fragmented into automotive & transportation, building & construction, and aerospace & defense. The automotive & transportation segment is to garner the highest CAGR of 5.5% over the forecast period. Using aluminum instead of steel enhances the performance, fuel economy, safety, and durability of passenger and commercial vehicles, while also providing multiple environmental benefits. Besides, secondary aluminum alloys are also used significantly in seats, cylinder heads, gearboxes, and others, which is also a key factor generating significant demand for the product in the automotive industry.
By region, the Europe secondary aluminum alloys market is to generate notable revenue by the end of 2035. The growth of the market in the region can be attributed primarily due to the factors, such as well-established manufacturing sectors, including automotive, construction, and aerospace which are the major consumers of aluminum alloys. As well as stringent environmental regulations and initiatives regarding recycling materials and waste management which influence the utilization of secondary aluminum alloys.
This report also provides the existing competitive scenario of some of the key players of the global secondary aluminum alloys market which includes company profiling of Daiki Aluminum Industry Co., Ltd., Century Metal Recycling Limited, Kawashima Co., Ltd., Superior Aluminum Alloys, LLC, Alucast, Metal Exchange Corporation, Keiaisha Co., Ltd., Novelis, Shin Wen Ching Metal Enterprise., Ltd., Sunalco Industries Pvt. Ltd., Matalco Inc., and, BERMCO Aluminum.
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