SELBYVILLE, Dela., March 6, 2018 /PRNewswire-iReach/
Aluminum alloys market is primarily dependent on the availability of aluminum along with other alloying materials including zinc, copper, magnesium, manganese, tin, etc. Fluctuation in the prices of aluminum owing to its application in various end-user industries may inhibit global aluminum alloys market growth in coming seven years. Price volatility of other alloying elements such as copper, zinc, and magnesium due to competitive market may also pose hindrances to the industry growth.
Global Aluminum Alloys Market size is slated to cross USD 150 billion by 2024. Rising air travel trends for domestic as well as international commuting and rising global trade activities will boost the aluminum alloys demand in the aviation industry. According to the International Air Transport Association (IATA), number of flyers witnessed a steep increase from less than 3 billion in 2011 to more than 3.7 billion in 2016 and this number will double over the next two decades.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/1527
U.S., China, and UK accounted for majority of the total with more than 1 billion flyers in 2016, but India is likely to surpass UK and other countries including Germany, Japan, and Indonesia in the coming years. Annual delivery of commercial aircrafts is gradually increasing to successfully serve the high number of flyers, hence propelling the overall aluminum alloys market.
Rapidly rising population and increasing urbanization in the BRICS nations will be an important driver for the global product market during the forecast years. These nations are gradually shifting their focus towards investments for industrial developments in order to create job opportunities to the increasing number of young as well as middle age population. Government initiatives to develop the infrastructure and housings in these countries, especially in China and India, will further catalyze the aluminum alloys market growth. The construction industry was worth beyond USD 3 trillion in 2016 in the BRICS countries and this number will reach close to USD 8 trillion by 2024. Growing usage of advanced materials in building construction as well as infrastructures such as flyovers and bridges will drive the global aluminum alloys market in the near future.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/1527
Aluminum alloys market, based on product types, is segmented into wrought and cast alloys. Wrought alloys will likely have a considerable share owing to its superior strength and lighter weight than cast alloys. They find major applications in the automotive and aerospace industries.
Asia Pacific will hold sway the global aluminum alloys market, accounting for more than two-third of the overall share in 2024. High growth in manufacturing and construction industries in China, Japan, and India will augment the regional growth during the forecast period.
Some key aluminum alloys market participants include Rio Tinto Alcan, Alcoa, United Company RUSAL, Aluminum Corporation of China, Constellium, Aluminium Bahrain, Kobe Steel, Norsk Hydro, Dubai Aluminium Company, Kaiser Aluminum Corporation, Aleris International, UACJ Corporation, ERAMET, Magna International Inc., and IBC Advanced Alloys Corp.
Browse key industry insights spread across 127 pages with 143 market data tables & 14 figures & charts from the report, "Aluminum Alloys Market Size By Product (Wrought, Cast), By End-user (Transportation, Construction, Packaging, Machinery, Electrical), Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
Browse Related Reports:
Rare Earth Metals Market Forecast, 2017 – 2024
China is the major consumer of rare earths in the entire Asia Pacific region. The demand for rare earth metals in China will grow over a CAGR of 9% till the end of the forecast period. High domestic demand will majorly account for the growth of China rare earth metals market over the forecast period.
Ferroalloy Market Forecast, 2016 – 2024
Asia Pacific, driven by the heavy industrialization and constructional activities in China and India, accounted for a noteworthy share of the global ferroalloy market in 2015. In 2015, the region recorded over USD 25 billion and will grow at over 6% CAGR in the coming years.
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Corporate Sales, USA
Global Market Insights, Inc.
Toll Free: 1-888-689-0688
Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, email@example.com
News distributed by PR Newswire iReach: https://ireach.prnewswire.com
SOURCE Global Market Insights, Inc.