Market Overview:
The global aluminum forgings market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for aluminum forgings from various end-use industries, such as automotive, aerospace & military, electrical industry, engineering machinery and others. In terms of type, conventional aluminum forgings are expected to dominate the market during the forecast period owing to their low cost and high strength-to-weight ratio as compared to custom aluminum forgings.
Product Definition:
Aluminum forging is a manufacturing process in which aluminum is heated until it becomes soft enough to be shaped by a forging die. The aluminum is then hammered into the desired shape. Aluminum forgings are used in a variety of applications, including automotive parts, aircraft components, and tooling.
Conventional Aluminum Forgings:
Conventional aluminum forgings are manufactured from cast or forged aluminum and used in various applications including machine parts, automotive, aerospace & defense. The growth factor for conventional aluminum forgings is the rising demand from end-use industries such as transportation & building equipment. Conventional aluminum forgings offer high strength and corrosion resistance which makes them suitable to be used in harsh environments.
Custom Aluminum Forgings:
Custom aluminum forgings are manufactured by special machining of aluminum billets. These products find application in various end-use industries such as transportation, construction, marine and aircraft. The growth of these end-use industries is expected to drive the global market over the forecast period.
Application Insights:
The automotive segment accounted for the largest volume share of over 30% in 2017. The aluminum forgings used in the automotive industry are conventional aluminum alloys, which are primarily designed to reduce vehicle weight and increase fuel efficiency. Increasing demand for lightweight vehicles is expected to have a positive impact on market growth during the forecast period.
Automotive applications include engine components such as cylinder head, valve covers, transmission case, air box/intake manifold and intake manifolds among others. Custom-made aluminum forgings can be manufactured to meet specific dimensional requirements with high strength properties and other characteristics that suit specific purposes within an automobile application range.
Aerospace & military is another key application segment where conventional aluminum alloys are widely utilized due to their low cost manufacturing process along with superior mechanical properties required by aircraft components including structural parts (wing root), fasteners (screws) and bearings among others.
Regional Analysis:
Asia Pacific dominated the global aluminum forgings market in 2017 and is expected to continue its dominance over the forecast period. The presence of key aircraft manufacturers such as Boeing, Airbus, and Mitsubishi Heavy Industries in Asia Pacific has resulted in high demand for aluminum forgings from the aerospace industry. In addition, growing automotive production mainly due to rising sales of premium cars is anticipated to drive product demand over the forecast period.
The growth of various end-use industries including aerospace & defense (AD), industrial machinery & equipment (IMechE) and electrical & electronics manufacturing along with rapid urbanization across emerging economies such as India, China and Indonesia are expected to drive product consumption over the next eight years. Europe accounted for a significant share owing to high demand from several major automotive companies who are shifting their production bases out of EU countries like Germany towards Eastern European countries like Poland which have low labor costs along with easy availability of raw materials required for vehicle manufacturing process i.e.
Growth Factors:
- Increasing demand from the automotive and transportation sector: The global automotive and transportation sector is growing at a rapid pace, owing to the increasing population and rising income levels in developing countries. This is resulting in an increase in the demand for aluminum forgings from this sector, as they are used extensively in the manufacture of vehicles and transportation equipment.
- Growing demand for lightweight components: With stringent regulations being imposed on emissions by governments across the world, there is a growing demand for lightweight components in automobiles. Aluminum forgings are ideal for use in such applications as they are light yet strong. This is making them increasingly popular among automakers worldwide.
- Rising popularity of aluminum alloys: Aluminum alloys have been gaining popularity over traditional steel alloys due to their superior properties such as light weight, corrosion resistance, and strength-to-weight ratio. This is benefiting the aluminum forging market as more OEMs are opting for aluminum alloy parts over steel ones."
Scope Of The Report
Report Attributes
Report Details
Report Title
Aluminum Forgings Market Research Report
By Type
Conventional Aluminum Forgings, Custom Aluminum Forgings
By Application
Automotive, Aerospace & Military, Electrical Industry, Engineering Machinery, Others
By Companies
All Metals & Forge Group, Aluminum Precision Products, Anderson Shumaker, Alcoa, Sun Fast International, Queen City Forging, Scot Forge, Deeco Metals, Continental Forge Compan, BRAWO USA, All Metals & Forge Group, Consolidated Industries, E&I, Dynacast International
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
149
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Aluminum Forgings Market Report Segments:
The global Aluminum Forgings market is segmented on the basis of:
Types
Conventional Aluminum Forgings, Custom Aluminum Forgings
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Automotive, Aerospace & Military, Electrical Industry, Engineering Machinery, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- All Metals & Forge Group
- Aluminum Precision Products
- Anderson Shumaker
- Alcoa
- Sun Fast International
- Queen City Forging
- Scot Forge
- Deeco Metals
- Continental Forge Compan
- BRAWO USA
- All Metals & Forge Group
- Consolidated Industries
- E&I
- Dynacast International
Highlights of The Aluminum Forgings Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Conventional Aluminum Forgings
- Custom Aluminum Forgings
- By Application:
- Automotive
- Aerospace & Military
- Electrical Industry
- Engineering Machinery
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Aluminum Forgings Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Aluminum forgings are a type of metalworking that uses aluminum as the primary material. The process begins by cutting or shaping the aluminum into the desired form, and then welding it together to create a durable piece.
Some of the major players in the aluminum forgings market are All Metals & Forge Group, Aluminum Precision Products, Anderson Shumaker, Alcoa, Sun Fast International, Queen City Forging, Scot Forge, Deeco Metals, Continental Forge Compan, BRAWO USA, All Metals & Forge Group, Consolidated Industries, E&I‎, Dynacast International.
The aluminum forgings market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aluminum Forgings Market Overview 4.1 Introduction 4.1.1 Market Taxonomy 4.1.2 Market Definition 4.1.3 Macro-Economic Factors Impacting the Market Growth 4.2 Aluminum Forgings Market Dynamics 4.2.1 Market Drivers 4.2.2 Market Restraints 4.2.3 Market Opportunity 4.3 Aluminum Forgings Market - Supply Chain Analysis 4.3.1 List of Key Suppliers 4.3.2 List of Key Distributors 4.3.3 List of Key Consumers 4.4 Key Forces Shaping the Aluminum Forgings Market 4.4.1 Bargaining Power of Suppliers 4.4.2 Bargaining Power of Buyers 4.4.3 Threat of Substitution 4.4.4 Threat of New Entrants 4.4.5 Competitive Rivalry 4.5 Global Aluminum Forgings Market Size & Forecast, 2020-2028 4.5.1 Aluminum Forgings Market Size and Y-o-Y Growth 4.5.2 Aluminum Forgings Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Conventional Aluminum Forgings
5.2.2 Custom Aluminum Forgings
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Automotive
6.2.2 Aerospace & Military
6.2.3 Electrical Industry
6.2.4 Engineering Machinery
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Aluminum Forgings Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aluminum Forgings Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Conventional Aluminum Forgings
9.6.2 Custom Aluminum Forgings
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Automotive
9.10.2 Aerospace & Military
9.10.3 Electrical Industry
9.10.4 Engineering Machinery
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Conventional Aluminum Forgings
10.6.2 Custom Aluminum Forgings
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Automotive
10.10.2 Aerospace & Military
10.10.3 Electrical Industry
10.10.4 Engineering Machinery
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Conventional Aluminum Forgings
11.6.2 Custom Aluminum Forgings
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Automotive
11.10.2 Aerospace & Military
11.10.3 Electrical Industry
11.10.4 Engineering Machinery
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Conventional Aluminum Forgings
12.6.2 Custom Aluminum Forgings
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Automotive
12.10.2 Aerospace & Military
12.10.3 Electrical Industry
12.10.4 Engineering Machinery
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Conventional Aluminum Forgings
13.6.2 Custom Aluminum Forgings
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Automotive
13.10.2 Aerospace & Military
13.10.3 Electrical Industry
13.10.4 Engineering Machinery
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Aluminum Forgings Market: Competitive Dashboard
14.2 Global Aluminum Forgings Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 All Metals & Forge Group
14.3.2 Aluminum Precision Products
14.3.3 Anderson Shumaker
14.3.4 Alcoa
14.3.5 Sun Fast International
14.3.6 Queen City Forging
14.3.7 Scot Forge
14.3.8 Deeco Metals
14.3.9 Continental Forge Compan
14.3.10 BRAWO USA
14.3.11 All Metals & Forge Group
14.3.12 Consolidated Industries
14.3.13 E&I
14.3.14 Dynacast International