Research and Markets - Global Aluminum Market for the Automotive Industry CAGR Growth of 4.5% by 2020 - Trends, Technologies & Opportunities Report 2016-2020 - Key Vendors: RUSAL, Kaiser Aluminum, Norsk Hydro
The global aluminum market for automotive industry is forecast to grow at a CAGR of 4.5% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: A trend which is driving market growth is the use of aluminum products in crash management systems. The crash management systems consider factors such as the ability to absorb collision energy, requirement of staying intact at high-speed impacts, weight management, initial and repair cost, and manufacturability. These are structural automotive models consisting of bumpers and other attachments connected to a longitudinal beam of the car to absorb maximum collision force during accidents. Aluminum extrusions are ideal material for crash management system as they are lightweight and cost effective.
According to the report, a key growth driver is the shift from ferrous to non-ferrous casting. Over the last couple of years, there is a growing demand for aluminum and other non-ferrous materials in the automotive industry for developing lightweight and high-quality products. In addition, a shift from traditional metals such as steel to aluminum has been noted.
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