Are you need IT Support Engineer? Free Consultant
Global Automotive Metals Market Outlook 2032: Global Opportunity and Demand Analysis, Market Forecast To 2032
- Published :
Report ID: AM0024
Pages: 161
Base Year: 2023
Format: PDF
Historical Date: 2019-2022
Market Research Report
Summary At A Glance
Description
Table of Contents
List Of Tables
List Of Figures
Research Methodology
Description
MARKET SCOPE:
The global Automotive Metals market is projected to grow significantly, registering a CAGR of 4.4% during the forecast period (2024 – 2032).
Automobile metal components refer to the various metallic parts and elements used in the manufacturing and assembly of vehicles. These components serve diverse functions within an automobile, contributing to its structure, safety, performance, and overall functionality. Metals are chosen for these components due to their mechanical properties, durability, and suitability for specific applications. Frame, chassis, and body structures made of metals provide the vehicle with strength, rigidity, and support. High-strength steel, aluminum, and other alloys are commonly used in these critical components. Various parts of the engine, such as the block, cylinder heads, pistons, and connecting rods, are typically made of metals like cast iron, aluminum, and alloys. These components endure high temperatures, pressures, and mechanical stresses. The overall demand for metal components is closely tied to the production volumes of automobiles. Higher production rates increase the need for metal components across various vehicle models. Advances in automotive technology and design often lead to the development of new and improved metal components. The demand for these innovations is driven by the desire for enhanced vehicle performance, fuel efficiency, safety, and aesthetics. Stringent safety and emission regulations drive the demand for advanced metal components that meet or exceed regulatory standards. Automakers invest in components that help achieve compliance with evolving global standards. Changing consumer preferences, including a shift towards electric vehicles, hybrid models, and enhanced safety features, influence the demand for specific metal components designed for these applications.
MARKET OVERVIEW:
Driver: Globalization of automotive supply chains is driving the market growth.
The globalization of automotive supply chains has facilitated the efficient sourcing and distribution of metal components on a global scale. This interconnected supply chain ensures access to high-quality materials and components from various regions. Globalization allows automotive manufacturers to source metal components from a wide range of suppliers located in different regions. This diversity provides access to various materials, manufacturing capabilities, and cost structures, enabling companies to make strategic sourcing decisions. Different regions around the world often specialize in certain types of metal production or manufacturing processes. The globalization of supply chains allows automakers to tap into specialized expertise and capabilities, ensuring the availability of high-quality and technologically advanced metal components. Global supply chain networks enable automakers to optimize costs by selecting suppliers based on factors such as material costs, labor rates, and transportation expenses. This allows companies to choose cost-effective sourcing options without compromising on quality. Diversifying the sources of metal components across different geographic regions helps mitigate risks associated with geopolitical instability, natural disasters, or other disruptions. Companies can adapt their supply chains to minimize the impact of unforeseen events on the availability of critical components. Global supply chains are supported by efficient distribution networks that facilitate the timely transport of metal components from suppliers to manufacturing facilities. This helps in reducing lead times, ensuring a steady flow of materials, and optimizing production schedules.
Opportunities: Growing need for electric and hybrid vehicles is anticipated for the market growth in the upcoming years.
The rise of electric and hybrid vehicles has shifted the focus toward materials that support the unique requirements of alternative powertrains. Metal components are integral to the construction of electric drivetrains, batteries, and lightweight structures in these vehicles. The construction of electric drivetrains involves the use of various metal components, including electric motors, inverters, and transmission systems. These components are crucial for converting electrical energy into mechanical power to drive the vehicle. Metal components are a fundamental part of electric vehicle (EV) and hybrid vehicle (HEV) batteries. The battery casing, electrodes, current collectors, and other structural elements often consist of metals like aluminum and steel. These metals provide durability, structural integrity, and heat dissipation properties essential for battery performance. Metal components are used in the construction of the battery housing, ensuring the protection and stability of the battery pack. Additionally, metals are employed in thermal management systems to dissipate heat generated during charging and discharging, maintaining optimal battery temperature for efficiency and longevity. Lightweight metal alloys, such as aluminum, are used in the construction of the vehicle’s chassis and structural components. These materials contribute to weight reduction, improving the overall efficiency and range of electric and hybrid vehicles.
COVID IMPACT:
The pandemic disrupted global supply chains, affecting the production of raw materials, components, and finished goods. Restrictions on movement, lockdowns, and health and safety measures led to delays in the availability of metals and other materials used in the manufacturing of automobile metal components. Many automotive manufacturing plants and suppliers experienced temporary shutdowns or reduced production capacities in response to the pandemic. Social distancing measures, workforce shortages, and disruptions in the supply chain led to interruptions in the manufacturing of metal components. The economic impact of the pandemic, including job losses and financial uncertainties, resulted in a decline in consumer purchasing power. Reduced consumer demand for new vehicles led to lower production volumes, affecting the demand for metal components used in the automotive sector. The pandemic influenced consumer preferences, with an increased focus on essentials and a shift away from discretionary spending. This change in consumer behavior affected the demand for certain vehicle types and, consequently, specific metal components used in their production. Automakers faced financial challenges due to lower sales, production disruptions, and increased costs associated with health and safety measures. Financial constraints impacted investment plans, including those related to the development and adoption of advanced metal components. The increase in remote work and travel restrictions led to a decline in commuting and overall vehicle usage. This trend affected the demand for certain automotive components, including those related to suspension and chassis systems, which may have influenced the demand for specific metal components.
SEGMENTATION ANALYSIS:
Aluminum segment is anticipated to grow significantly during the forecast period
The automotive industry’s ongoing emphasis on lightweighting to improve fuel efficiency and reduce emissions is a key driver for the use of aluminum in metal components. Aluminum’s low density makes it an ideal material for achieving weight reduction without compromising strength. Stringent fuel efficiency and emission standards worldwide drive automakers to adopt lightweight materials such as aluminum. Aluminum components contribute to overall vehicle weight reduction, enhancing fuel efficiency and meeting regulatory requirements. The growth of electric and hybrid vehicles, with a focus on optimizing range and energy efficiency, has increased the demand for lightweight materials. Aluminum is widely used in the construction of electric vehicle structures and components, including chassis and body panels. Aluminum’s favorable properties, including high conductivity and lightweight nature, make it suitable for components in electric drivetrains and batteries. As electric vehicles become more prevalent, the demand for aluminum in these applications is expected to grow.
The suspension segment is anticipated to grow significantly during the forecast period
The growth in global automotive production, especially in the Asia Pacific region, has a direct impact on the demand for suspension components. Increasing vehicle production necessitates the use of high-quality metal components in the suspension system. Consumer preferences for improved ride comfort and handling performance drive the demand for advanced suspension systems. Metal components play a crucial role in ensuring the durability and effectiveness of suspension systems. Ongoing advancements in suspension system technologies, including the use of advanced materials and design innovations, contribute to the demand for specialized metal components. These advancements aim to enhance vehicle dynamics and overall performance. The automotive industry’s focus on lightweighting for improved fuel efficiency influences the design of suspension components. Lightweight metal alloys contribute to reducing the overall weight of the suspension system without compromising strength. Stringent emission standards worldwide drive automakers to optimize vehicle efficiency. Advanced suspension systems, utilizing lightweight metal components, contribute to achieving fuel efficiency goals and reducing emissions. The growth of electric and hybrid vehicles presents unique challenges and opportunities for suspension systems. Metal components in these systems must accommodate the specific requirements of electric drivetrains, batteries, and regenerative braking systems.
REGIONAL ANALYSIS:
The Asia Pacific region is set to witness significant growth during the forecast period.
The Asia Pacific region has been a major hub for automotive manufacturing, with several countries witnessing robust growth in production. The increasing demand for automobiles, both domestically and for export, is a primary driver for the growth of metal components in the automotive sector. The growth of emerging markets in the Asia Pacific, coupled with the expansion of the middle class, has led to increased consumer purchasing power. This rise in disposable income contributes to higher demand for vehicles, stimulating the production of metal components used in automotive manufacturing. Many countries in the Asia Pacific region have implemented supportive government policies and initiatives to boost the automotive industry. Investments in infrastructure, research and development, and incentives for manufacturers contribute to the overall growth of the automotive sector and, consequently, the demand for metal components. Automotive original equipment manufacturers (OEMs) are expanding their production capacities in the Asia Pacific region to cater to the growing demand. This expansion leads to increased procurement of metal components for vehicle assembly. Advancements in manufacturing technologies and processes contribute to the efficiency and precision of producing metal components. The adoption of advanced techniques enhances the competitiveness of the region’s automotive manufacturing sector.
COMPETITIVE ANALYSIS
The global Automotive Metals market is reasonably competitive with mergers, acquisitions, and product launches. See some of the major key players in the market.
- Alcoa Corporation
- Allegheny Technologies
- ArcelorMittal
- China-based Valin ArcelorMittal Automotive Steel declared in April 2024 that the Phase II project’s manufacture would start. Another continuous galvanization line (CGL#2) with a 450,000-ton yearly production capacity will be installed as part of the project. The company’s yearly capacity will rise to 2 million tons with this development.
- China Steel Corporation
- Essar Steel
- Hyundai Steel Co., Ltd.
- Kaiser Aluminum
- Nippon Steel & Sumitomo Metal Corporation
- Novelis
- POSCO
- POSCO finished building an automotive steel plate facility in China in October 2024. The facility, a joint venture between POSCO and HBIS, has a 450,000-ton annual manufacturing capacity.
- Tata Steel Limited.
- Thyssenkrupp AG
- United States Steel Corporation
- Voestalpine AG
Scope of the Report
- By Product
- Aluminum
- Steel
- Magnesium
- Other Products
- By Application
- Body Structure
- Power Train
- Suspension
- Others
- By Region
- North America (the United States & Canada)
- Europe (Germany, UK, France, Spain, Italy, and the Rest of Europe)
- Asia Pacific (China, Japan, India, and Rest of Asia Pacific)
- Rest of the World (the Middle East & Africa, Latin America, and Rest of The World)
Key reasons to purchasing this report
- It provides a technological development map over time to understand the industry’s growth rate and indicates how the Automotive Metals market is evolving.
- The report offers a dynamic method to various factors that drive or restrain the growth of the market and specifies which Automotive Metals submarket will be the main driver of the overall market from 2024 to 2032.
- It renders a definite analysis of changing competitive dynamics and stipulates the leading players and what are their prospects over the forecast period.
- It builds a nine-year estimate based on how the market is predicted to grow and shows what will market shares of the global region change by 2032 and which country will lead the market in 2032.
Table of Contents
- Executive Summary
- Market Snapshot
- Regional Analysis
- Segment Analysis
- Overview and scope
- Market Vision
- Market Definition
- Market Segmentation
- Market Vision
- Global Automotive Metals Market Overview By Region: 2019 VS 2023 VS 2032
- Global Automotive Metals Market Size by Regions (2019-2023) (USD Million)
- North America Automotive Metals Market Size by Country (2019-2023) (USD Million)
- Europe Automotive Metals Market Size by Country (2019-2023) (USD Million)
- Asia Pacific America Automotive Metals Market Size by Country (2019-2023) (USD Million)
- Rest of the World Automotive Metals Market Size by Country (2019-2023) (USD Million)
- Global Automotive Metals Market Size by Regions (2024-2032) (USD Million)
- North America Automotive Metals Market Size by Country (2024-2032) (USD Million)
- Europe Automotive Metals Market Size by Country (2024-2032) (USD Million)
- Asia Pacific Automotive Metals Market Size by Country (2024-2032) (USD Million)
- Rest of the World Automotive Metals Market Size by Country (2024-2032) (USD Million)
- Global Automotive Metals Market Size by Regions (2019-2023) (USD Million)
- Global Automotive Metals Market Dynamics
- Market Overview
- Market Drivers
- Market Restraints/ Challenges Analysis
- Market Opportunities
- PESTLE Analysis
- Porter’s Five Forces Model
- Bargaining Power of Suppliers
- Bargaining Power of Buyers
- The threat of New Entrants
- Threat of Substitutes
- Intensity of Rivalry
- Value Chain Analysis/Supply Chain Analysis
- Covid-19 Impact Analysis on Global Automotive Metals Market
- Market Overview
** In – depth qualitative analysis will be provided in the final report subject to market
- Global Automotive Metals Market, By Product
- Overview
- Global Automotive Metals Market Size By Product (2019 – 2032) (USD Million)
- Key Findings for Automotive Metals Market – By Product
- Aluminum
- Steel
- Magnesium
- Other Products
- Global Automotive Metals Market, By Applications
- Overview
- Key Findings for Automotive Metals Market – By Applications
- Body Structure
- Power Train
- Suspension
- Others
- Global Automotive Metals Market, by region
- Key Findings For Automotive Metals Market- By region
- Overview
- Global Automotive Metals Market, By Product
- Global Automotive Metals Market, By Application
- Global Automotive Metals Market- North America
- Global Automotive Metals Market- Europe
- Overview
- Europe Automotive Metals Market Size (2019 – 2032) (USD Million)
- Europe Automotive Metals Market, By Product
- Europe Automotive Metals Market, By Application
- Europe Automotive Metals Market Size by Countries
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Global Automotive Metals Market – Asia Pacific
- Overview
- Asia Pacific Automotive Metals Market Size (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market, By Product
- Asia Pacific Automotive Metals Market, By Applications
- Asia Pacific Automotive Metals Market Size by Countries
- China
- Japan
- India
- Rest of Asia Pacific
- Global Automotive Metals Market- Rest of World
- Overview
- Rest of World Automotive Metals Market Size (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market, By Product
- Rest of World Automotive Metals Market, By Applications
- Rest of World Automotive Metals Market Size by Regions
- Middle East & Africa
- Latin America
- Rest Of The World
- GLOBAL Automotive Metals MARKET- Competitive Landscape
- Key Strategies Adopted by the Leading Players
- Recent Developments
- Investments & Expansions
- New End-User Launches
- Mergers & Acquisitions
- Agreements, Joint Ventures, and Partnerships
- GLOBAL Automotive Metals MARKET- Company Profiles
- Alcoa Corporation
- Company Overview
- Financial Overview
- Product Offered
- Key Developments
- Allegheny Technologies
- ArcelorMittal
- China Steel Corporation
- Essar Steel
- Hyundai Steel Co., Ltd.
- Kaiser Aluminum
- Nippon Steel & Sumitomo Metal Corporation
- Novelis
- POSCO
- Tata Steel Limited.
- Thyssenkrupp AG
- United States Steel Corporation
- Voestalpine AG
- Alcoa Corporation
- Our Research Methodology
- Data Triangulation
- Data Sources
- Secondary Sources
- Primary Sources
- Assumptions/ Limitations For The Study
- Research & Forecasting Methodology
- Appendix
- Disclaimer
- Contact Us
List Of Tables
- Global Automotive Metals Historic Market Size By Regions (2019 – 2023) (USD Million)
- Global Automotive Metals Forecasted Market Size By Regions (2024-2032) (USD Million)
- Global Automotive Metals Market- Drivers
- Global Automotive Metals Market- Restraint /Challenges
- Global Automotive Metals Market- Opportunity Analysis
- Global Automotive Metals Market Size By Product (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Aluminum (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Steel (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Magnesium (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Body Structure (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Power Train (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Suspension (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Product (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Aluminum (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Steel (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Magnesium (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Applications (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Body Structure (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Power Train (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Suspension (2019 – 2032) (USD Million)
- North America Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Product (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Aluminum (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Steel (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Magnesium (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Applications (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Body Structure (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Power Train (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Suspension (2019 – 2032) (USD Million)
- Europe Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Product (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Aluminum (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Steel (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Magnesium (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Applications (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Body Structure (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Power Train (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Suspension (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Product (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Aluminum (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Steel (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Magnesium (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Applications (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Body Structure (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Power Train (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Safety Systems (2019 – 2032) (USD Million)
- Rest of World Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Data Triangulation
List Of Figures
- Market Highlights
- Market Highlights By Region
- Global Automotive Metals Market Size By Product: 2023 VS 2032
- Global Automotive Metals Market Size by Applications: 2023 VS 2032
- Global Automotive Metals Market Size By Magnesium (2019 – 2032) (USD Million)
- Global Automotive Metals Market Size By Others (2019 – 2032) (USD Million)
- Global Automotive Metals By Aluminum (USD Million 2019 – 2032)
- Global Automotive Metals By Steel (USD Million 2019 – 2032)
- Global Automotive Metals Market Size By Applications (2019 – 2032) (USD Million)
- Global Automotive Metals By Body Structure (USD Million 2019 – 2032)
- Global Automotive Metals By Power Train (USD Million 2019 – 2032)
- Global Automotive Metals By Suspension (USD Million 2019 – 2032)
- Global Automotive Metals By Others (USD Million 2019 – 2032)
- North America Automotive Metals Market Size (2019 – 2032) (USD Million)
- North America Automotive Metals By United States Revenue (USD Million) (2019 – 2032)
- North America Automotive Metals By Canada Revenue (USD Million 2019 – 2032)
- Europe Automotive Metals Market Size (2019 – 2032) (USD Million)
- Europe Automotive Metals By United Kingdom Revenue (USD Million) (2019 – 2032)
- Europe Automotive Metals By Germany Revenue (USD Million 2019 – 2032)
- Europe Automotive Metals By France Revenue (USD Million 2019 – 2032)
- Europe Automotive Metals By Italy Revenue (USD Million 2019 – 2032)
- Europe Automotive Metals By Spain Revenue (USD Million 2019 – 2032)
- Europe Automotive Metals By Rest Of Europe Revenue (USD Million 2019 – 2032)
- Asia Pacific Automotive Metals Market Size (2019 – 2032) (USD Million)
- Asia Pacific Automotive Metals By China Revenue (USD Million) (2019 – 2032)
- Asia Pacific Automotive Metals By Japan Revenue (USD Million 2019 – 2032)
- Asia Pacific Automotive Metals By India Revenue (USD Million 2019 – 2032)
- Asia Pacific Automotive Metals By Rest Of APAC Revenue (USD Million 2019 – 2032)
- Rest Of World Automotive Metals Market Size (2019 – 2032) (USD Million)
- Rest of World Automotive Metals By the Middle East & Africa Revenue (USD Million) ( 2019 – 2032)
- Rest of World Automotive Metals By Latin America Revenue (USD Million 2019 – 2032)
- Rest of World Automotive Metals By Rest Of The World Revenue (USD Million 2019 – 2032)
- Key Strategies Adopted By The Leading Players
- Secondary Sources
- Primary Research
- Global Automotive Metals Market – Research Methodology
Research Methodology
Primary and Secondary Research
In order to understand the market in detail we conduct primary and secondary research. We collect as much information as we can from the market experts through primary research. We contact the experts from both demand and supply side and conduct interviews to understand the actual market scenario. In secondary research, we study and gather the data from various secondary sources such as company annual reports, press releases, whitepapers, paid databases, journals, and many other online sources. With the help of the primary interviews, we validate the data collected from secondary sources and get a deep understanding on the subject matter. Post this our team uses statistical tools to analyses the data to arrive at a conclusion and draft it in presentable manner.
Market Size Estimations
Understanding and presenting the data collected is a crucial task. Market sizing is a critical part of the data analysis and this task is performed by using Top-down and bottom-up approaches. In this process, we place different data points, market information and industry trends at a suitable space. This placement helps us presume the estimated & forecast values for coming few years. We use several mathematical and statistical models to estimate the market sizes of different countries and segments. Each of this is further added up to outline the total market. These approaches are individually done on regional/country and segment level.
Data Triangulation
As we arrive at the total market sizes, the market is again broken down into segments and subsegments. This process is called as data triangulation and is implementable wherever applicable. This step not only helps us conclude the overall market engineering process, but also gives an assurance on accuracy of the data generated. The data is triangulated based on studying the market trends, various growth factors, and aspects of both demand and supply side.
