Aluminum Alloys Aerospace Materials Market to Reach USD 6.59 Billion By 2032 | Emergen Research

Rising demand for innovative and high-quality metals and increasing adoption of lightweight materials to reduce aircraft weight and need for air travel, such as jets, gliders, and helicopters, are key factors driving aluminum alloys aerospace materials market revenue growth.

Vancouver, Dec. 12, 2023 (GLOBE NEWSWIRE) — The global aluminum alloys aerospace materials market size was USD 4.63 Billion in 2022 and is expected to register a rapid revenue CAGR of 3.7% during the forecast period. The surge in demand for innovative and high-quality metals, coupled with the adoption of lightweight materials to reduce aircraft weight, is a key driver for market growth. The aerospace sector, including applications in jets, gliders, and helicopters, is witnessing a substantial uptick in demand for aluminum alloys due to their exceptional strength-to-weight ratio and lightweight properties.

Aluminum alloys, specifically aluminum-copper-magnesium systems, play a crucial role in high-tech industries such as aerospace, aviation, military, and defense. The market is poised for continued growth, with the demand for aluminum alloys expected to reach 68.7 million tonnes, an 8% increase compared to 2020. Manufacturers are responding to this demand, as evidenced by Constellium SE’s recent announcement of the launch of Aheadd, a high-performance aluminum powder product designed for additive manufacturing in aerospace and defense industries.

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However, challenges such as volatile aluminum alloy costs and competition from composite materials could impact market revenue growth. The complex manufacturing process, resource-intensive production, and susceptibility to corrosion in acidic or saltwater environments contribute to higher operational expenses, leading to pricing difficulties. This prompts potential buyers to explore cost-effective alternatives, including composite materials.

Type Insights: The high-strength alloy segment dominated the global aluminum alloys aerospace materials market in 2022, accounting for the largest revenue share. The rising demand for high-strength alloys in fuselage, wing, and engine components, coupled with their ability to dissipate heat effectively, positions them as a preferred choice for manufacturers. For instance, Alcoa Group’s innovations in alloy development, including the introduction of the A210 ExtruStrong alloy, highlight the continuous advancements in this segment.

Grade Insights: The heat-treatable alloys segment is expected to experience steady revenue growth during the forecast period. Manufacturers are increasingly adopting this technology to produce aluminum alloys aerospace materials, thanks to their enhanced mechanical and physical properties. Heat-treatable alloys offer increased strength, hardness, and long-term cost savings, making them attractive for high-performance and durable applications. Alcoa’s recognition for the C611 EZCast alloy, which does not require specialized heat treatment, further emphasizes the advancements in this segment.

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Type Cause Insights: The series 7000 segment is anticipated to contribute significantly to the global aluminum alloys aerospace materials market revenue during the forecast period. Its rising adoption in commercial aluminum alloys, attributed to its ability to dissipate heat effectively and resist corrosion, makes it a preferred material for aerospace parts production. The purity of series 7000 aluminum alloys meets strict aerospace industry requirements, leading to widespread adoption in lightweight materials production.

Application Insights: The commercial aircraft segment is expected to register moderate revenue growth, driven by the demand for lightweight materials in the commercial aerospace sector. Aluminum alloys, known for their low density and high strength-to-weight ratio, offer an ideal solution to reduce overall aircraft weight, improving fuel efficiency and lowering emissions. The corrosion resistance, malleability, and formability of aluminum alloys contribute to their durability and flexibility in aircraft manufacturing.

Regional Insights: North America dominated the global aluminum alloys aerospace materials market in 2022, accounting for the largest revenue share. The region’s robust demand for air travel, particularly in the U.S. and Canada, contributed to this growth. A notable increase in passenger traffic in the U.S., as reported by the Department of Transportation, underscores the region’s commitment to expanding aircraft capabilities.

Europe is expected to witness faster revenue growth, driven by the expanding aviation sectors in countries such as the UK, Germany, and France. Passenger traffic figures revealed by the International Air Transport Association indicate a 50% increase in European region passenger traffic in April 2022 compared to the same period in 2021.

The Asia Pacific region is poised to account for a considerable revenue share, fueled by increasing adoption of aircraft manufacturers and passengers in countries like China, Japan, South Korea, and India. The strong recovery in passenger traffic in the Asia Pacific region signals growth in the aerospace industry.

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Scope of Research

Report Details Outcome
Market Size in 2022 USD 4.63 Billion
CAGR (2023-2032) 3.7%
Revenue Forecast To 2032 USD 6.59 Billion
Base Year For Estimation 2022
Historical Data 2019–2021
Forecast Period 2023–2032
Quantitative Units Revenue in USD Billion, Volume in Kilotons and CAGR in % from 2023 to 2032
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments Covered Type, grade, type cause, application, and region
Regional Scope North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Country Scope U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa
Key Companies Profiled Rio Tinto, Alcoa Corporation Rusal, Kaiser Aluminum, Huntsman International LLC, Kobe Steel Ltd., DOW, AMI Metal Inc., Aleris International Inc., Constellium N.V., Hexcel Corporation, Aperam, Precision Castparts Corporation, Solvay, and Teijin Limited
Customization Scope 10 hours of free customization and expert consultation

Major Companies and Competitive Landscape

The global aluminum alloys aerospace materials market is fragmented, with large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective aluminum alloys aerospace. Some of the major companies included in the global aluminum alloys aerospace materials market report are:

  • Rio Tinto 
  • Alcoa Corporation
  • Rusal
  • Kaiser Aluminum
  • Huntsman International LLC
  • Kobe Steel Ltd
  • DOW
  • AMI Metal Inc.
  • Aleris International Inc.
  • Constellium N.V.
  • Hexcel Corporation
  • Aperam
  • Precision Castparts Corporation
  • Solvay
  • Teijin Limited

Strategic Development

  • On 21 June, 2023, Solvay and Spirit AeroSystems (Europe) Limited strengthened their relationship as Solvay became a strategic partner of the Spirit Aerospace Innovation Center (AIC) in Prestwick, Scotland. AIC facilitates collaborative research on sustainable aviation technologies and processes with Spirit’s industry, academic, and supply chain partners. Both companies intend to further engage in integrated development opportunities to meet the performance, cost, and production rate requirements of future aircraft.
  • On 19 June, 2023, Constellium SE and TARMAC Aerosave will explore the development of technologies and processes to recover aluminum from end-of-life aircraft and reuse it across the aerospace value chain, while maintaining the material’s properties and performance. Aluminum’s footprint compares favorably to competing materials used in aircraft manufacturing, and recycled aluminum adds to this advantage. Recycled aluminum uses only 5% of the energy required to produce the primary metal, resulting in Carbon Dioxide (CO2) emissions below 95% for aluminum produced for commercial aircraft.

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Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global aluminum alloys aerospace materials market on the basis of type, grade, type case, application, and region:

  • Type Outlook (Revenue, USD Billion; 2019-2032)
    • High Strength Alloys
    • Ultra-High Strength Alloys
  • Grade Outlook (Revenue, USD Billion; 2019-2032)
    • Heat Treatable Alloys
    • Non-Heat Treatable Alloys
  • Type Cause Outlook (Revenue, USD Billion; 2019-2032)
    • Series 2000
    • Series 3000
    • Series 5000
    • Series 7000
  • Application (Revenue, USD Billion,; 2019-2032)
    • Commercial Aircraft
    • Military Aircraft
    • Others
  • Regional Outlook (Revenue, USD Billion; 2019–2032)
    • North America
      1. U.S.
      2. Canada
      3. Mexico
    • Europe
      1. Germany
      2. France
      3. UK
      4. Italy
      5. Spain
      6. Benelux
      7. Rest of Europe
    • Asia Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of APAC
    • Latin America
      1. Brazil
      2. Rest of LATAM
    • Middle East & Africa
      1. Saudi Arabia
      2. UAE
      3. South Africa
      4. Turkey
      5. Rest of Middle East & Africa

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