Automotive Aluminum Extruded Parts Market

Global Market Study on Automotive Aluminum Extruded Parts: Demand for 7000 Series Aluminium to Surge

  • July-2021
  • PMRREP32625
  • 287 Pages
  • Automotive
  • PPT, PDF, WORD, EXCEL

Market Snapshot

As per automotive aluminium extruded parts industry analysis, the global market saw soaring growth in 2021 with global revenue up 9.9% year-over-year. A new forecast by Persistence Market Research estimates that automotive aluminium extruded part sales will nearly double by 2031, reaching US$ 93 Bn at a ten-year compound annual growth rate (CAGR) of 5.8%.

Top suppliers of automotive aluminium extruded parts include Norsk Hydro ASA, Benteler International, and Gestamp Automoción, S.A., together accounting for around 14.5% share of the global market.

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Companies

  • Novelis Inc.
  • Benteler International
  • Bonnell Aluminium Extrusion Company
  • CAPALEX
  • Constellium SE
  • Kaiser Aluminium Corp.
  • Kobe Steel Ltd.
  • Norsk Hydro ASA
  • Omnimax International
  • ProfilGruppen Extrusions AB
  • SMS Schimmer
  • UACJ Automotive Whitehall Industries, Inc.
  • Walter Klein GmbH & Co. KG
  • Gestamp Automoción, S.A.
  • China Zhongwang Holdings Limited
  • Indo Alusys Industries Limited

Key Insights Offered in Automotive Aluminum Extruded Parts Industry Survey

  • Market Estimates and Forecasts 2016-2031
  • Key Drivers and Restraints Impacting Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Brand share and Market Share Analysis
  • Key Product Innovations and Regulatory Climate
  • Unit Sales Irrespective of OEM and Aftermarket
  • Assessment by Vehicle Category / Technology and Sales Channel
  • Assessment of OEM, OES, and IAM Price
  • COVID-19 Impact on Demand for Automotive Aluminium Extruded Parts and How to Navigate
  • Recommendation on Key Winning Strategies

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Sales Analysis of Automotive Aluminium Extruded Parts from 2016 to 2020 Vs Market Outlook for 2021 to 2031

From 2016 to 2020, sales of automotive aluminium extruded parts decreased at a negative 6.3% CAGR due to decline in vehicle production, primarily in 2020 due to the impact of the COVID-19 pandemic.

On a global scale, the automotive and transportation sector is witnessing an increase in aluminium parts in internal combustion as well as electric vehicles, which can be attributed to rising expenditure on R&D activities conducted by major players in the industry.

Automobile manufacturers are under increasing pressure to meet regulatory requirements pertaining to the environmental impact of vehicles. Agencies such as EPA, California Air Resource Board, and NHTSA have enacted rules and regulations regarding greenhouse gas emissions.

Several new features of aluminium extruded parts such as decreasing overall weight of the vehicle by using aluminium components are likely to attract more automobile companies, which is a driving factor for their demand and sale.

Companies around the world are following this trend to keep pace with the dynamic market environment. As such, the global automotive aluminium extruded parts market is forecast to expand at a healthy CAGR of 5.8% over the coming 10 years.

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What are the Key Opportunities for Automotive Aluminium Extruded Part Manufacturers?

Growing demand for electric vehicles due to the enactment of stringent emission norms regarding vehicle emissions is likely to result in major demand growth of electric vehicles across the globe.

Major vehicle manufacturers are trying to increase the range of electric vehicles. Using aluminium materials in electric vehicles can increase the vehicle’s driving range due to the reduced weight.

An aluminium body frame can absorb a higher-energy crash impact than mild steel. Because of its lighter weight, the automotive industry could also increase the thickness of body panels without adding extra weight to the vehicle.

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What are the Roadblocks That Automotive Aluminium Extruded Part Suppliers Face?

A critical problem with aluminium assembly is that joining aluminium requires a different set of technologies and procedures from steel. Because of aluminium's properties, welding is more difficult.

Also, widespread aluminium and other lightweight material use requires techniques to join dissimilar materials, which adds complexity and cost. In addition, some of the proposed joining technologies are not suitable to high-volume production.

Unibody construction is the normal manner of vehicle assembly today. However, this requires a large number of individual components that are joined through welding. Spaceframe designs require less joining but are not as economic for high-volume production because current techniques are not as automated. They are more labour-intensive (as opposed to equipment-intensive), and experience so far indicates that they require more rework. This may hamper market growth over the coming years.

Major body shops and even dealer service centres are currently equipped with facilities for steel work. The cost of switching over to an infrastructure designed specifically for all aluminium vehicles or mass production of aluminium vehicles and components would be high, which is likely to hamper sales of automotive aluminium extruded parts across the globe.

Which Recent Trends are Impacting Automotive Aluminium Extruded Part Sales?

Growing demand for lightweight and efficient materials from the automotive industry is increasing demand for automotive aluminium, as it not only reduces the weight of automobile components but also of the complete body of an automobiles by up to 50%. Growing consumer migration towards lightweight vehicles is likely to result in significant growth in demand for automotive aluminium extruded parts.

Aluminium material can be recycled after the vehicle’s lifespan ends, which is the main advantage of using aluminium material in automotive applications. Almost 90% of automotive aluminium scrap materials are recycled annually.

A single ton of recycled aluminium scrap creates an energy-savings equivalent of approximately 2,300 gallons of gasoline. This is anticipated to boost sales of automotive aluminium extruded parts across the globe.

automotive-aluminum-extruded-parts-market

Country-wise Insights

How Big is the Opportunity for Providers of Automotive Aluminium Extruded Parts in China?

East Asia is predicted to remain one of the most attractive markets for automotive aluminium extruded parts, according to Persistence Market Research. According to the study, China is expected to account for over 68% of the East Asia market through 2031.

China is projected to play a key role in promoting industry growth through its extensive production capacity in the automotive sector. The plan of the Chinese government to invest in transport and energy infrastructure is likely to positively influence demand for automotive aluminium extruded parts over the coming years.

Why is Demand for Automotive Aluminium Extruded Parts High in Germany?

Over the projection period, demand in Germany is expected to increase at CAGR of 6.1%. The country’s urban transportation is well-supported by the government and is backed by well-developed infrastructure. Consequently, Germany has the most elevated level of expenditure in Europe.

According to Persistence Market Research, Germany is a leading market for automotive aluminium extruded parts in Europe, and demand is likely to remain high over the coming timeframe.

Furthermore, increased research activities on efficient automotive components, presence of significant companies, and increased investments in product pipelines are all providing appealing potential for automotive aluminium extruded part manufacturers in the country.

How is India Performing in the Market for Automotive Aluminium Extruded Parts?

India is one of the more lucrative markets for automotive aluminium extruded parts. By 2031, this market is expected to account over 51% of sales in South Asia Pacific.

Demand for aluminium extruded parts is rising in South Asia and Pacific, which is expected to push the market due to potential of the manufacturing sector in the country. Changing economic rules in terms of manufacturing vehicles to controlling pollution and carbon emissions would prove helpful for the regional market over the coming years, with increased investments in the automotive sector to satisfy the demands of the country’s enormous population.

Category-wise Insights

Which Automotive Aluminium Extruded Part Holds the Highest Growth Potential?

Sub-structure is a leading product category and is expected to account for nearly 48% of market share by the end of 2031.

The lightweight and high strength-to-weight ratio of aluminium sub-structure makes it ideal for automobile production to provide added strength at decreased weight of overall vehicle.

Prominent automotive manufacturing companies are using aluminium sub-structures in their vehicles owing the fact that they have high corrosion resistance, and also, sub-structures are the heart of any vehicle to sustain on the roads. They are better than steel sub-structures, and this is expected to fuel demand in future.

Which Type of Material is Used Most in Automotive Aluminium Extruded Parts?

Based on material, 7000 series are used most, and are expected to account for over 63% of the market by the end of 2031. 7000 series alloys are mostly used in the automotive and aerospace industry owing to their higher strength, leading to fuel cost savings as well as combat global warming through weight reduction.

Which Vehicles Have the Highest Usage of Aluminium Extruded Parts?

Based on vehicle, passenger cars have the highest consumption of aluminium extruded parts, and are expected to contribute revenue share of more than 73% in the global automotive aluminium extruded parts industry by 2031.

This can be attributed to rising number vehicles for personal transportation. Nowadays, consumers are preferring lightweight vehicles to save money on fuel as well increase load carrying capacity. This is expected to drive the need for automotive aluminium extruded parts on a global scale.

What is the Impact of COVID-19 on Demand for Automotive Aluminium Extruded Parts?

Lockdowns implemented in a number of countries have had a negative influence on the market. Obstacles have arisen as a result of limited production and transportation-related delays caused by travel restrictions. With successive waves of the new coronavirus wreaking havoc on the automobile industry, recovery is projected to remain slow until 2022.

Nonetheless, numerous aluminium extruded part manufacturing companies are continuing to invest heavily in R&D to expand their presence as well as meet customer demand.

Despite the challenges, economies are slowly but surely recovering from the pandemic. As supply and distribution networks recover, companies’ activities have begun to expand. In light of this, the pandemic is unlikely to have a long-term impact on the sales of aluminium extruded parts.

Competitive Landscape

The worldwide automotive aluminium extruded parts market is moderately competitive in nature with the presence of numerous leading players operating in the landscape. Major players are taking steps to expand their business and overall market share. Aftermarket penetration and channel reach has also been detailed in the study.

Over the coming years, foreign players are expected to expand their presence through acquisitions. Improvements in the global economic situation and the expanding automotive industry in emerging economies are expected to drive market growth, encouraging players to launch new products across regions.

  • In August 2019, Novelis Inc. announced the introduction of Advanz 6HS-s650, a precisely engineered aluminium automotive body sheet product.
  • In June 2020, Norsk Hydro ASA and Northvolt announced the formation of a joint venture to enable recycling of battery materials and aluminium from electric vehicles. Through Hydro Volt AS, the companies plan to build a pilot battery recycling plant, which would be the first of its kind in Norway.
  • In April 2020, Novelis Inc. acquired Aleris Corporation, which produces aluminium rolled products.
  • In March 2020, BENTELER International and Bosch entered into a strategic collaboration with Pininfarina S.p.A. The collaboration with Pininfarina S.p.A. adds a partner with outstanding capabilities.

Automotive Aluminium Extruded Parts Market Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • The Middle East & Africa

Key Countries Covered

  • US
  • Canada
  • Mexico
  • Brazil
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • BENELUX
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • ASEAN
  • Turkey
  • South Africa
  • Northern Africa

Key Market Segments Covered

  • Product
  • Material
  • Vehicle
  • Region

Key Companies Profiled

  • Novelis Inc.
  • Benteler International
  • Bonnell Aluminum Extrusion Company
  • CAPALEX
  • Constellium SE
  • Kaiser Aluminium Corp.
  • Kobe Steel Ltd.
  • Norsk Hydro ASA
  • Omnimax International
  • ProfilGruppen Extrusions AB
  • SMS Schimmer
  • UACJ Automotive Whitehall Industries, Inc.
  • Walter Klein GmbH & Co. KG
  • Gestamp Automoción, S.A.
  • China Zhongwang Holdings Limited
  • Indo Alusys Industries Limited
  • Century Extrusions Limited
  • Arconic Corporation

Report Coverage

  • Market Forecast
  • Company Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Key Market Segments Covered

By Product

  • Sub-structures
  • Door Beams
  • Bumpers
  • Pillars
  • Sub Frames
  • Seat Back Bars
  • Front Side Rails
  • Space Frames
  • Body Panels
  • Others

By Material

  • 5000 Series Automotive Aluminium Extruded Parts
  • 6000 Series Automotive Aluminium Extruded Parts
  • 7000 Series Automotive Aluminium Extruded Parts
  • Others

By Vehicle

  • Automotive Aluminium Extruded Parts for Passenger Cars
    • Compact Cars
    • Mid-Sized Cars
    • Luxury Cars
    • SUVs
  • Automotive Aluminium Extruded Parts for Light Commercial Vehicles
  • Automotive Aluminium Extruded Parts for Heavy Commercial Vehicles

FAQs Answered in Study

  • How much is the global automotive aluminium extruded parts market valued at currently?

    The global automotive aluminium extruded parts market is currently valued at over US$ 53 Bn.

  • What is the main factor driving demand for automotive aluminium extruded parts?

    Increase in demand for fuel-efficient vehicles and advancements in manufacturing technologies are driving the demand growth of aluminium extruded parts.

  • At what CAGR did demand for automotive aluminium extruded parts increase over the past 5 years?

    From 2016 to 2020, demand for automotive aluminium extruded parts was in the negative, and registered a CAGR of -6.3%.

  • What will be the demand outlook for automotive aluminium extruded parts through 2031?

    Sales of automotive aluminium extruded parts are projected to increase at 5.8% CAGR and be valued at over US$ 93 Bn by 2031.

  • What are the key trends being witnessed in this marketplace?

    Growing demand for electric vehicles and need for efficient material for automobile production are key trends in this space.

  • What is the market share of the top 5 manufacturers of automotive aluminium extruded parts?

    As per ratings on the basis of market share, market reach, clientele, etc., Norsk Hydro ASA, Benteler International, Gestamp Automoción, Kobe Steel Ltd., and Arconic Corporation account for around 21% market share.

  • At what rate is the market in Germany registering growth in Europe?

    The market for automotive aluminium extruded parts in Germany is progressing at around 6.1% CAGR.

  • Which are the top 5 countries driving most demand for automotive aluminium extruded parts?

    China, the U.S., Japan, Germany, and India are major demand centers for automotive aluminium extruded parts.

  • What is the automotive aluminium extruded parts market outlook for North America?

    Through 2031, the market in North America is projected to rise at a CAGR of 4.9%.

  • How is the market for automotive aluminium extruded parts faring in Japan and South Korea?

    Japan and South Korea are expected to hold 14.5% share in the global market.

Enquiry before Buying

  • Is the market research conducted by Persistence Market Research?

    Yes, the report has been compiled by expert analysts of Persistence Market Research, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

  • What research methodology is followed by Persistence Market Research?

    Persistence Market Research follows a methodology that encompasses the demand-side assessment, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

  • Who are the respondents for primary research?

    Persistence Market Research speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Persistence Market Research conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

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