An alloy is a mixture of two or more chemical elements, one of which is a metal and is used in a wide variety of applications. In some cases, to reduce the cost of the material while in other cases, to provide strength, reduce overall weight and resistance to corrosion over pure metals. Automotive applications of alloys are growing due to increasing demand for more fuel efficient vehicles to reduce fuel consumption and air pollution. The growing demand for fuel efficient vehicles with reduced weight and improved performance is the major driving factor of alloys for automotive market. Strict government regulations for environmental safety are also driving the alloys for automotive market. Global Alloys for Automotive market is expected to register a CAGR of about 7%.
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The leading players in the Alloys for Automotive market are ArcelorMittal SA (Luxembourg), Aditya Birla Group (India), Alcoa Inc. (U.S.), UACJ Corporation (Japan), ThyssenKrupp AG (Germany), Kobe Steel, Ltd. (Japan), Norsk Hydro ASA (Norway), AMG Advanced Metallurgical Group NV (Netherlands), and Constellium (Netherlands), and AGCO Corporation (U.S) and others.
Alloys for Automotive Market – Segmentation
The Global Alloys for Automotive Market is segmented in to 4 key dynamics for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises Iron, Titanium, Steel.
Segmentation by Backing Application: Comprises Chassis, Powertrain
Segmentation by Vehicle Type: Comprises Passenger Vehicle and Commercial Vehicles
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
Industry/ Innovation/ Related News:
February, 2013 – ArcelorMittal and SAIL sign MoU on automotive steel joint venture in India. ArcelorMittal, the world’s leading steel and mining company, and the Steel Authority of India Limited (‘SAIL’), India’s leading steel company, today, signed a Memorandum of Understanding (‘MoU’) to set up an automotive steel manufacturing facility under a Joint Venture (‘JV’) arrangement in India.
July, 2016– MG Advanced Metallurgical Group N.V. announced that the Supervisory Board of AMG has approved the construction of a lithium concentrate (spodumene) plant at the Mibra mine in Brazil. AMG’s new business segment, AMG Lithium, will commence operations in the first quarter of 2018, with an initial annual production capacity of 90,000 tons of lithium concentrate, expandable to 140,000 tons. Total capital investment is estimated at approximately $50 million and will be incurred primarily in 2016 and 2017.
The report for Global Alloys for Automotive Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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