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Automotive Aluminum Market

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Automotive Aluminum Market report categorizes global market by product type, vehicle type, sales channel - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025
Automotive Aluminum Market - Global
Industry Insights, Trends, 2017–2025
Aluminum is found in nature in the form of aluminum sulfates and can also be produced
from bauxite, which comprises various elements such as aluminum hydroxide, silicon,
titanium, sulfur, gallium, vanadium oxides, chromium, iron, sulfuric calcium, and
magnesium carbonates, among others. Aluminum is significantly lighter than steel, has
good tensile strength, and is easier to mold, making it a preferred choice in various
industries. Aluminum was first used in a sports car back in 1899, two years later an
engine with aluminum parts was first built. Ever since, aluminum has been used by
automotive manufacturers, owing to the inexpensiveness application in mass- produced
vehicles. Vehicles manufactured using advanced aluminum alloys are more fuel efficient
and reduce carbon emissions, making it more environment-friendly as compared to
vehicles manufactured using steel. It also increases performance of the vehicle and
improves durability. Aluminum is versatile in nature, which enables automobile
manufacturers to combine it with other metals or with materials such as fiberglass and
plastics to enhance specific properties. Also, aluminum has the capacity to absorb twice
the crash energy as compared to mild steel, which makes it safer.
Automotive manufacturers are focusing on improving performance, fuel economy and
reducing emissions, without affecting the size, safety, and capability, a factor that has
led to significant growth of the automotive aluminum market.
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Aluminum castings are used in various parts of automobiles such as alternator housing,
carburetors, wheels, valve covers, engine block, transmission housings, wheel spacer,
impellers, and fan clutch. Aluminum sheets are used in complete vehicle body,
structural components, car trims and sealing, body panels, side walls, hood, doors, and
trunks. Extruded aluminum is used to manufacture roof rails and sunroofs. The use of
aluminum in automobiles has provided numerous benefits such as good formability,
great potential in weight reduction, excellent corrosion behavior in presence of thermal
load, high yield strength, and dent resistance capability, high-quality surface finish and
recyclability. Original equipment manufacturers contribute a major share in the
automotive aluminum market.
Automotive Aluminum Market Outlook – Rising demand for lightweight and fuel
efficient automobiles supplementing market growth
North America is expected to dominate the automotive aluminum market over the
forecast period. This is mainly attributed to the stringent implementation of yield strength
standards. CAFÉ Standards were implemented in the U.S. in order to reduce energy
consumption by increasing fuel economy in cars, vans, light trucks, and heavy trucks.
This has augmented growth of the market in the region. Asia Pacific is expected to
follow North America in the consumption of automotive aluminum. This is mainly
attributed to increasing discretionary income in the region and supportive government
initiatives, especially in the growth engines of the region — China and India. For
instance, the Indian government allows for 100% FDI in the automotive industry, which
accounts for 7.1% of the country’s GDP. Furthermore, as highlighted by India Brand
Equity Foundation (IBEF), the Indian government aims to make automobiles
manufacturing the mainstay of its ambitious Make in India initiative and projects the
passenger vehicles market to triple to 9.4 million units by 2026, as highlighted in the
Auto Mission Plan (AMP) 2016–2026. This trend is expected to follow over the forecast
period. ASI Performance Standard (Principles and Criteria launched December 2014)
and ASI Chain of Custody Standard govern the automotive aluminum industry. These
standards are applicable on all the phases of manufacturing aluminum, which includes
bauxite mining, alumina purification, primary aluminum production, stages such as
rolling, forging, extrusion and foundry, material alteration, and refining and re-melting of
recycled scrap.
High cost of automotive aluminum as compared to steel and cast iron is one of the
restraining factors for the automotive aluminum market. Also, introduction of new
materials like reinforced plastic has restrained the market growth of automotive
aluminum on a global scale. Research and development on alternative methods to
produce aluminum at a lower cost and eco-friendly manufacturing processes to reduce
environmental damage are some of the key strategies adopted by the top market
players. Some of the companies operating in the global automotive aluminum market
are Alcoa Inc., Arconic Inc., UACJ Corporation, CHALCO, AMG Advanced Metallurgical
Group, Norsk Hydro ASA, Constellium N.V., Novelis Inc., and Rio.
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