March 31, 2020

Aluminum Forging Market 2027 | Key Players are Aichi Steel, Alcoa Corporation, Bharat Forge Limited, Nippon Steel Corporation, among others.

According to a new market research report published by Credence Research “Aluminum Forging Market – Growth, Future Prospects and Competitive Analysis, 2019 – 2027‘” the global aluminum forging market was valued at US$ 11,60 billion in 2018 and is set to grow with a CAGR of 5.4% over the forecast period 2019 to 2027.

Market Insights

Growing demand for lightweight materials in the aerospace and automotive industries is driving the growth of the aluminum forging market. Aluminum forging is a manufacturing process in which aluminum is pressed, pressed under heavy pressure to produce high strength parts. The growth of the forging market worldwide is one of the main growth factors driving the growth of the forging market in aluminum. The global forging market is valued at around USD 65.00 billion in 2018. Due to durability, high strength, resistance and other benefits, the demand for aluminum forging is increasing, which in turn helps the aluminum forging market grow. We therefore expect a healthy growth in the aluminum forging market during the forecast period.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/aluminum-forging-market

Based on the application, the automotive segment was the largest contributor to the global aluminum forging market in 2018. The segment mentioned above has a share of more than 35% of revenue in the same year. Growth in automotive production and widespread use of aluminum in modern vehicles are key factors in the growth of the segment. In 2018, the global automotive industry consumed more than 3.5 million tons of aluminum. The fact that every 1 kilogram of aluminum is used in car manufacturing reduces the overall weight of the car by 1 kilogram. Due to the above reasons, different parts of the car, such as engine radiators, bumpers, transmission bodies and other major parts, are made of aluminum today. Since 1970, the continuous increase in the share of aluminum in car production has increased from 35 kg to 152 kg in 2018. As a result of these factors, we expect the segment to show significant growth throughout the forecast period.

Based on geography, Asia Pacific was the largest contributor to the aluminum forging market in 2018. Asia Pacific had almost a 1/3rd share in the same year. Growing automotive and construction industries are the main growth drivers for the aluminum forging market in Asia Pacific. Developing Asia-Pacific economies, such as China and India, will be the main contributors in the region due to the growth in the adoption of forging techniques in the manufacturing sector. Strong investments and government initiatives to increase production in the region are one of the main growth factors for the aluminum forging market.  As a result, we expect the Asia-Pacific region to remain dominant throughout the forecast period.

Some of the major companies profiled in the report include Aichi Steel, Alcoa Corporation, Bharat Forge Limited, Nippon Steel Corporation, ThyssenKrupp AG, Aluminum Precision Products, American Handforge, KITZ CORPORATION, Ellwood Group Inc, Arconic Inc. among others.

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59960

[Note: Our Free Complimentary Sample Report Accommodate a Brief Introduction To The Synopsis, TOC, List of Tables and Figures, Competitive Landscape and Geographic Segmentation, Innovation and Future Developments Based on Research Methodology are also Included]

Report Scope by Segments

By Product Type Segment

 • Open Die Forging

 • Close Die Forging

 • Ring Rolled Forging

By Application Segment

 • Aerospace

 • Automotive

 • Defense

 • Others (Construction, Mining, etc.)

By Geography Segment

  • North America (U.S., Rest of North America)
  • Europe (U.K., Germany, France, Rest of Europe)
  • Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  • Rest of the World (Middle East & Africa, Latin America)

Access Free Sample Copy of Research Report: https://www.credenceresearch.com/sample-request/59960

Leave a Reply

Your email address will not be published. Required fields are marked *