DUBLIN--(BUSINESS WIRE)--The "High Strength Aluminum Alloys Market by End-use industry Type (Automotive & transportation, Aerospace & defense, Marine), Alloy Type (Cast, and Wrought), Strength Type (High, and ultra-high strength), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The global high strength aluminum alloys market was valued at USD 37.94 billion in 2018 and is projected to reach USD 55.24 billion by 2023, registering a CAGR of 7.8% between 2018 and 2023.
There has been an increase in focus of governments and regulators on the effect of transportation on the environment as vehicle emissions largely contribute to air pollution. OEMs are under constant pressure from various government regulations which have restricted the emission levels from vehicles OEMs are working closely with all the stakeholders in their supply chain to decrease the weight of their models to achieve these targets.
Owing to limited reserves and geographically concentrated supply of oil, fuel efficiency is also a major area of concern for the end users and governments. With high growth estimated in automobile sales, governments in different parts of the world have implemented stringent fuel emissions and fuel economy norms and OEMs are required to comply with these standards.
Automotive & transportation is one of the most important industries that drive economic growth. The rising demand for automobiles has led to an increase in the emissions from the transportation sector and the stakeholders in the automotive industry are focusing on optimizing the performance of the vehicles to ensure sustainable, environment-friendly transportation. The major focus is on maximizing the fuel efficiency and minimizing emissions. Vehicle weight is a crucial factor which has a direct impact on emissions and fuel efficiency since it requires less amount of energy to propel a lighter object than a heavier one.
Historically, the average weight of the vehicle has seen a continuous increase as more systems and features have been integrated to improve safety and convenience as well as meet the regulations and end user's demands. This has facilitated an increase in the use of high strength aluminum alloys as an alternative to steel as aluminum possesses improved strength capabilities and is lightweight. However, the adoption of high strength aluminum alloys in the automobile industry is being restrained by its high cost and engineering barriers.
Key Topics Covered
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Macroeconomic Overview and Key Trends
7 High Strength Aluminum Alloys Market, By Alloy Type
8 High Strength Aluminum Alloys Market, By Strength Type
9 High Strength Aluminum Alloys Market, By End-Use Industry
10 High Strength Aluminum Alloys Market, By Region
11 Competitive Landscape
12 Company Profiles
- Advanced Metallurgical Group
- Alcoa Inc.
- Aluminum Bahrain B.S.C.
- Aluminum Corporation of China Limited
- Autoneum Holding AG
- Century Aluminum Company
- China Hongqiao Group Limited
- Constellium N.V.
- Dana Holding Corporation
- Elringklinger AG
- Federal-Mogul Holding Corporation
- Hindalco Aluminum Limited
- Kaiser Aluminum
- Norsk Hydro ASA
- Progress-Werk Oberkirch AG
- RIO Tinto PLC
- UACJ Corporation
- United Company (UC) Rusal
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