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the global automotive aluminum market to reach US$ 43.4 Billion by 2027, exhibiting a CAGR of 8.82% during 2022-2027.
SHERIDAN, WYOMING, UNITED STATES, July 29, 2022 /EINPresswire.com/ -- According to IMARC Group’s latest report, titled “Automotive Aluminum Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global automotive aluminum market reached a value of US$ 25.4 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 43.4 Billion by 2027, exhibiting a CAGR of 8.82% during 2022-2027.
Report Metric Historical: 2016-2021 Base Year: 2021 Forecast Year: 2022-2027
The body, wheels, frame, fuel systems, heat shields, engine pistons, radiators, and other components of a car are all made of automotive aluminium. In terms of product shape, it may be divided into a number of categories, including die-casting, permanent mould casting, sand casting, aluminium plate, aluminium sheet, etc. Automotive aluminium metal is highly lightweight and offers better cost-effectiveness, stability, and durability. It enables quicker vehicle acceleration and can absorb more stress in the event of an accident. As a result, large commercial vehicles, light commercial vehicles, and passenger automobiles are only a few of the divisions of the worldwide automobile industry that heavily utilise automotive aluminium (HCV).
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The market for automotive aluminium is primarily being driven by the increasing demand for automobiles in the Asia-Pacific, North American, and European areas. Additionally, the growing demand in the automotive industry for variations with improved qualities, such as recyclability, high strength, corrosion resistance, etc., is boosting market expansion. Another key growth-inducing aspect is the increasing use of aluminium combined with silicon, copper, and manganese to create lightweight automotive components. Other factors that are anticipated to support the automotive aluminium market in the years to come include the introduction of numerous policies by the government bodies intended to encourage the production of vehicles that lower greenhouse gas emissions and the development of extensive research and development (R&D) activities.
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The report has segmented the market on the basis of product form, vehicle type, application and region.
Cast Aluminum Die Casting Permanent Mold Casting Sand Casting Rolled Aluminum Aluminum Plate Aluminum Sheet Aluminum Foil Extruded Aluminum
Passenger Cars Light Commercial Vehicles (LCV) Heavy Commercial Vehicles (HCV)
Powertrain Pistons Engine Blocks Fuel Systems Heat Shields Heat Exchangers Chassis & Suspension Suspension Parts Wheels Steering System Brake Systems Car Body Body Structure Roof and Trim Car Interiors Hang-On Parts
North America (U.S. & Canada) Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others) Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others) Latin America (Brazil, Mexico) Middle East & Africa
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Elena Anderson IMARC Services Private Limited +1 631-791-1145 email us here
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