Chemical Research

  The automotive aluminum market has witnessed significant growth over the past few years owing to the advantages aluminum provides in terms of lightweighting vehicles. Aluminum is approximately one-third the weight of steel and is corrosion resistant. With growing environmental concerns, automakers are increasingly using aluminum in various auto components such as engine blocks, wheels, bumpers, and vehicle body instead of cast iron and steel to reduce vehicle weight and improve fuel efficiency. Aluminum vehicles are lighter while retaining the structural rigidity needed for safety. This has increased the adoption of aluminum in both electric vehicles and hybrid vehicles. The global automotive aluminum market is estimated to be valued at US$ 58.33 billion in 2024 and is expected to exhibit a CAGR of 12.% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the automotive aluminum market are Alcoa Inc., Arconic Inc., UACJ Corporation, CHALCO, AMG Advanced M...

  The automotive aluminum market has been growing significantly due to factors such as growing demand for lightweight and fuel-efficient vehicles. Aluminum helps reduce vehicle weight without compromising strength. This makes vehicles more fuel efficient and helps lower emissions. Aluminum parts also contribute to passenger safety and comfort due to efficient dissipation of collision energy. The increased use of aluminum in engine blocks, wheels, doors, and other components enhances a vehicle's power-to-weight ratio and recyclability. The global automotive aluminum market is estimated to be valued at US$ 58.33 billion in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights. Market key trends: The increased focus on lightweighting to meet stringent emission norms has been a key driver accelerating the use of aluminum in the automotive industry. Regulatory bodies across regions have i...