Posted 3/6/2024, 7:14:00 AM
Aluminum Alloys Drive Automotive Lightweighting Trend to Meet Emissions and Performance Demands
- Transparency Market Research forecasts the automotive aluminum alloy market to grow from $17.8 billion in 2022 to $27.9 billion in 2031 at a 5.1% CAGR.
- Demand is driven by stringent emission standards and customer preference for lightweight vehicle structures.
- Aluminum can reduce vehicle weight by 50% compared to other metals, improving stability.
- Aluminum alloy is widely used due to desirable physical/chemical properties and ease of manufacturing.
- Technological advancements like nanotubes and microtubes in heat exchangers improve efficiency.