Automotive Aluminum Market

Automotive Aluminum Market - Global Industry Insights,
Trends, Outlook, and Opportunity Analysis, 2018–2026
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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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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Automotive Aluminum Market report categorizes global market by product type, vehicle type, sales channel - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2017–2025