At a compound annual growth rate (CAGR) of 6.0%, the global market for aluminum auto body panels is projected to reach a valuation of USD 38.45 billion by 2022. The structural parts of a car's body that are composed of aluminium rather of more conventional materials like steel or plastic are called aluminium auto body panels. The external body of the car, which includes the doors, fenders, hoods, trunk lids, and other visible parts, is normally composed of these panels.
The market for aluminum automotive body panels is expected to develop globally, according to the research report. In the future, the market for aluminum automotive body panels is anticipated to increase steadily. The widespread use of aluminum automotive body panels will still depend on supply chain optimization, cost reduction, and product differentiation. To take advantage of the enormous potential offered by the aluminum automotive body panels market, industry participants must make strategic alliances, invest in R&D, and match their products with changing consumer tastes.
Automakers are requesting more aluminum due to its performance advantages, which include its resistance to dents and lightweight nature. The use of aluminum as a flexible material for body structures, including as engines, transmissions, and wheels, has expanded across automakers.
As stringent environmental regulations are implemented to counteract rising carbon dioxide emissions, aluminum demand is also rising. Additionally, the demand for aluminum has increased due to customer preferences for lightweight vehicles and the rise in demand for passenger cars.
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Market:- Segmental Analysis
By Application
- Body panels
- Hoods
- Frames
- Wheels
- Engine
- Transmission
- Suspension
- Others
By Product
- 5000 Series
- 6000 Series
Country Scope
North America, U.S., Canada, Mexico, Europe, U.K., Germany, France, Italy, Spain, Russia, Asia-Pacific, Japan, China, India, Australia, Korea, ASEAN, Rest of APAC, South America, Brazil, Argentina, Colombia, Rest of South America, MEA, South Africa, Saudi Arabia, UAE, Egypt, Rest of MEA
Key Companies
- Alcoa
- Aluminum Corporation of China
- Rio Tinto Alcan
- BHP Billiton
- Dubai Aluminum
- Jindal Aluminum
- Novelis
- Vedanta Aluminum
- Aleris International
- United Co. RUSAL.
- Others
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