연비 효율과 배출 가스 삭감에 대한 강조와 정부의 엄격한 요구에 의해 자동차용 알루미늄의 수요가 높아지고 있습니다. Verified Market Research의 애널리스트에 따르면 자동차용 알루미늄 시장은 2024년 약 868억 8,000만 달러를 밑돌며, 예측 기간 중 1,959억 3,000만 달러의 평가에 달할 것으로 추정됩니다.
전기자동차의 인기 상승과 자동차 생산에 있으며, 경량 소재의 필요성이 자동차 알루미늄 시장을 주도하고 있습니다. 이로 인해 2024-2031년 연평균 10.70%로 시장 성장률을 보일 것으로 예상됩니다.
자동차용 알루미늄 시장 정의/개요
자동차용 알루미늄은 경량, 고강도, 고내구성 자동차 제조에 사용되는 알루미늄 소재를 말합니다. 이 금속은 연비를 개선하고 온실 가스 배출을 줄이는 능력으로 인해 자동차 분야에서 인기를 얻고 있으며, 승용차와 상용차 구조에서 중요한 부품으로 자리 잡고 있습니다. 자동차 알루미늄은 차체 패널, 엔진 블록, 변속기 부품, 휠, 구조 요소에 사용되며, 성능과 주행거리를 위해 경량화가 중요한 전기자동차 부품에도 사용됩니다. 알루미늄 합금의 적응성으로 인해 다양한 기계적 품질이 가능하여 현재 자동차 설계 및 엔지니어링 분야에서 용도가 확대되고 있습니다.
자동차의 연비 향상에 대한 수요가 자동차 생산에 알루미늄 사용을 촉진하고 있습니다. 미국 환경보호청(EPA)에 따르면 2023년형 자동차의 평균 연비는 전년 대비 0.6mpg 증가한 26.4마일/갤런을 기록했습니다. 이러한 추세는 앞으로도 계속될 것으로 예상되며, 자동차 제조에서 알루미늄과 같은 경량 소재에 대한 수요가 증가할 것으로 예상됩니다.
전기자동차 시장의 확대는 자동차용 알루미늄의 주요 촉진요인으로 작용하고 있습니다. 국제에너지기구(IEA)는 2022년 전 세계 전기자동차 판매량이 1,000만 대에 달할 것으로 예상하고 있으며, 2021년 대비 55% 증가할 것으로 예상하고 있습니다. 알루미늄은 가볍기 때문에 전기자동차의 주행거리와 성능을 향상시키는 데 가장 적합한 소재입니다.
또한 전 세계에서 점점 더 엄격해지는 배기가스 규제로 인해 자동차 제조업체는 차량 경량화가 필요하게 되었고, 알루미늄의 사용이 유리하게 작용하고 있습니다. 유럽연합(EU)의 CO2 배출 성능 기준은 2030년까지 신차의 자동차 배출량을 2021년 대비 37.5% 감축할 것을 요구하고 있습니다. 자동차 제조업체들은 이 기준을 달성하기 위해 알루미늄을 더 많이 사용하는 차량을 설계해야 한다는 규제에 직면해 있습니다.
알루미늄 생산 및 가공에 드는 높은 초기 비용은 자동차 알루미늄 시장 진입을 가로막는 주요 장벽 중 하나입니다. 알루미늄은 철강과 같은 기존 재료보다 비싸기 때문에 제조업체, 특히 소규모 제조업체는 자동차 설계에 알루미늄을 사용하는 것을 주저하고 있습니다. 이러한 가격 장벽은 특히 가격에 민감한 분야에서 알루미늄의 보급을 제한하고 전체 시장의 성장을 저해하고 있습니다.
또한 자동차용 알루미늄 시장은 공급망이 매우 복잡하여 생산 효율성과 비용에 영향을 미칩니다. 알루미늄의 조달 및 생산과 관련된 공급업체와 절차의 복잡한 네트워크는 혼란, 지연, 운영 비용 증가를 초래합니다. 원자재 부족, 물류 문제 등 공급망의 비효율성과 병목현상은 자동차 알루미늄의 가용성에 악영향을 미치고 시장 확대를 제한합니다.
The increasing emphasis on fuel efficiency and emissions reduction, along with severe government requirements, drives demand for automotive aluminum, allowing automakers to develop lighter, more fuel-efficient vehicles while maintaining safety and performance. According to the analyst from Verified Market Research, the automotive aluminum market is estimated to reach a valuation of USD 195.93 Billion over the forecast subjugating aroundUSD 86.88 Billion valued in 2024.
The growing popularity of electric vehicles and the need for lightweight materials in vehicle production are driving the automotive aluminum market. It enables the market to grow at aCAGR of 10.70% from 2024 to 2031.
Automotive Aluminum Market: Definition/ Overview
Automotive aluminum refers to aluminum materials used in car manufacturing that are lightweight, strong, and durable. This metal is becoming increasingly popular in the automotive sector due to its capacity to improve fuel efficiency and lower greenhouse gas emissions, making it an important component in the construction of both passenger and commercial vehicles. Automotive aluminum is used in body panels, engine blocks, transmission components, wheels, and structural elements, as well as electric vehicle sections where weight reduction is critical for performance and range. Aluminum alloys' adaptability allows for a wide range of mechanical qualities, which expands its application in current car design and engineering.
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The demand for increase in fuel efficiency in vehicles is boosting the use of aluminum in automotive production. According to the US Environmental Protection Agency (EPA), the average fuel economy for 2023 model-year automobiles was 26.4 miles per gallon, up 0.6 mpg from the previous year. This trend is projected to continue, increasing the demand for lightweight materials such as aluminum in automobile manufacturing.
The increasing growth of the electric car market is a major driver for automotive aluminum. The International Energy Agency (IEA) estimated that global electric vehicle sales reached 10 million units in 2022, up 55% from 2021. Aluminum's lightweight qualities make it an excellent material for increasing EV range and performance.
Furthermore, the increasingly stringent emission requirements around the world are forcing automakers to cut vehicle weight, favoring aluminum usage. The European Union's CO2 emission performance criteria call for a 37.5% reduction in new automobile emissions by 2030, compared to 2021 levels. Automobile manufacturers are being forced by regulations to reach these standards by designing their vehicles with more aluminum.
The high initial cost of aluminum production and processing is one of the key barriers to entry into the automotive aluminum market. Aluminum is more expensive than traditional materials such as steel, which deters manufacturers, particularly smaller ones, from using it in car designs. This pricing barrier limits the widespread use of aluminum, especially in price-sensitive areas, impeding total market growth.
Furthermore, the automotive aluminum market has considerable supply chain complications, which affect production efficiency and costs. The complex network of suppliers and procedures involved in sourcing and producing aluminum causes disruptions, delays, and higher operational expenses. Any inefficiencies or bottlenecks in the supply chain, such as raw material shortages or logistical challenges, have a negative impact on the availability of aluminum automotive applications, limiting market expansion.
According to VMR analysis, the cast aluminum segment is estimated to hold the largest market share during the forecast period. Cast aluminum's ability to be molded into complex shapes makes it perfect for a variety of automobile components, such as engine blocks and transmission housings. This adaptability enables manufacturers to create intricate pieces that fulfill precise performance specifications, improving vehicle efficiency and functionality.
Cast aluminum is less expensive to produce than other types of aluminum. This affordability allows manufacturers to reduce production costs while maintaining high-quality standards, making cast aluminum a popular choice for a variety of automotive applications, particularly in price-sensitive markets.
Furthermore, the lightweight nature of cast aluminum helps to reduce overall vehicle weight, which is critical for boosting fuel efficiency and lowering emissions. As automakers prioritize sustainability and compliance with tough environmental rules, demand for cast aluminum components is likely to increase, cementing the segment's global dominance.
The chassis & suspension segment is estimated to dominate the automotive aluminum market during the forecast period. The requirement for weight reduction in cars is a major driver of the chassis and suspension segment's dominance. Aluminum's lightweight qualities considerably improve total vehicle efficiency, including fuel economy and performance. As automakers attempt to meet rigorous emissions standards, the use of aluminum in chassis and suspension systems becomes increasingly important, contributing to the trend of lighter, more efficient vehicles.
Improvements in casting and extrusion techniques have made producing aluminum components easier and less expensive. This has led to increased adoption of aluminum in essential structural applications, allowing manufacturers to improve vehicle safety and handling while adhering to performance standards.
Furthermore, the growing demand for electric cars (EVs) is a major driver in the chassis and suspension segment. EVs require lightweight materials to increase battery efficiency and driving range. Aluminum in chassis and suspension components not only decreases weight but also improves EV structural integrity, making it a popular choice among manufacturers looking to maximize performance in this quickly increasing market.
According to VMR analyst, the Asia Pacific region is estimated to dominate the automotive aluminum market during the forecast period. The Asia Pacific region, particularly China and India, is seeing major increases in car manufacturing and sales. According to the China Association of Automobile Manufacturers (CAAM), China's vehicle output reached 27.02 million units in 2023, up 11.6% from the previous year. This strong expansion in the automotive sector is pushing up demand for automotive aluminum in the region.
The Asia Pacific region is driving the worldwide EV revolution, with China at the vanguard. The China Passenger Car Association (CPCA) predicted that electric car sales in China reached 6.87 million units in 2023, accounting for 36% of total new vehicle sales in the country. This rapid adoption of EVs is driving up demand for lightweight materials such as aluminum, which improves vehicle range and efficiency.
Furthermore, several Asia Pacific countries have adopted policies to encourage the use of lightweight materials in cars. For example, Japan's Ministry of Economy, Trade, and Industry (METI) has set a target of reducing average vehicle weight by 20% by 2030, compared to 2015 levels. This program is projected to expand the usage of aluminum in car manufacturing, as it weighs 40% less than steel for comparable parts.
North America is estimated to dominate the automotive aluminum market during the forecast period. The Corporate Average Fuel Economy (CAFE) rules in the United States are encouraging automakers to employ lighter materials such as aluminum. According to the National Highway Traffic Safety Administration (NHTSA), the CAFE guidelines for model year 2026 call for an industry-wide objective of 49 miles per gallon for passenger vehicles and light trucks. This marks a 25% increase over 2021 criteria, requiring manufacturers to increase their use of aluminum to fulfill the targets.
North America is experiencing considerable growth in electric car usage, which is increasing demand for lightweight materials. According to the US Department of Energy, electric vehicle sales in the United States climbed by 65% between 2021 and 2022, totaling more than 800,000 units. This trend is projected to continue, as EVs require greater aluminum content than traditional vehicles to optimize range and performance.
Furthermore, North American consumers continue to prefer larger vehicles such as SUVs and trucks, which require more aluminum to offset their weight. According to the United States Environmental Protection Agency (EPA), SUVs, vans, and pickup trucks accounted for 78% of new vehicle sales in 2021. This trend is boosting the usage of aluminum in larger vehicle segments to enhance fuel efficiency and meet emissions rules.
The competitive landscape of the automotive aluminum market is characterized by a dynamic interplay of technology breakthroughs, regulatory challenges, and altering consumer preferences. As automakers emphasize lightweight materials to improve fuel efficiency and reduce emissions, demand for aluminum has increased, forcing suppliers to innovate in production processes and product offers.
Some of the prominent players operating in the automotive aluminum market include:
Alcoa, Inc./Arconic, Inc.
Novelis Inc.
UACJ Corporation
Norsk Hydro ASA
AMG Advanced Metallurgical Group
Constellium N.V.
CHALCO
Rio Tinto
In July 2024, Alcoa Corporation announced a strategic relationship with a major European automaker to offer sophisticated aluminum alloys for electric vehicle production. The multi-year partnership allows the automaker to use Alcoa's revolutionary aluminum solutions to improve the performance, efficiency, and sustainability of its EV lineup.
In June 2024, Novelis Inc. launched a new modern aluminum recycling and casting factory in the United States. The $365 million investment would greatly boost Novelis' capacity to produce high-quality aluminum sheet ingot for the automotive sector, thereby meeting the growing demand for lightweight, sustainable materials in vehicle manufacturing.