- The key vendors in the Automotive Aluminum Market in the APAC Region 2015-2019 are Alcoa Inc., Aluminum Corporation of China Ltd., Rio Tinto Alcan Inc. and United Co. RUSAL plc
London, 03 March 2015: TechNavio, an independent tech-focused global research firm, has announced the publication of its market research report on the Automotive Aluminum Market in the APAC Region 2015-2019. An increase in net aluminum pounds per vehicle is one of the major trends being witnessed in this market. With strict regulations and new initiatives for emission reduction, demand for better automotive aluminum is increasing. The use of aluminum is highest in the body and bumper, followed by cross members, suspension, steering, wheels, brake, and engine, respectively. The Automotive Aluminum market in the APAC region is expected to grow at a CAGR of 7.74 percent, by volume, during the forecast period of 2014-2019.
“Players in the market are shifting their operations to countries where they can get labor, raw materials, and other facilities at low cost because of rising manufacturing costs,” says Faisal Ghaus, Vice President of TechNavio Research.
“This helps them lower their manufacturing costs and gives them an edge over their competitors. Also, in 2013, several automotive-related companies in Western Europe and North America outsourced a large proportion of their manufacturing operations to China and Eastern Europe.”
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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