Global Automotive Aluminum Market projected to reach $189.94 billion by 2033, driven by increased auto sales and EV demand.

From GlobeNewswire: 2024-07-22 03:00:00

The Global Automotive Aluminum Market is projected to grow from USD 57.46 billion in 2023 to USD 189.94 billion by 2033, with a CAGR of 12.70%. Aluminum is widely used in cars for its durability, safety, fuel efficiency, and lower emissions. The market is driven by increased auto sales, demand for electric vehicles, and advanced technology integration.

Passenger cars are expected to dominate the global automotive aluminum market. Cast aluminum is anticipated to hold the largest market share, particularly in applications like chassis and suspension. North America is projected to lead the market, while Asia Pacific is expected to experience rapid growth due to increasing investments in the automotive industry.

Key players in the automotive aluminum market include major companies such as Aluminum Corporation, BHP Billiton, Alcoa Corporation, and more. Recent developments include advancements in alloy development by Alcoa Corporation in September 2022. The market targets investors, government authorities, and consulting firms, offering analysis on current news, developments, and competitive landscape.

For more information and detailed analysis, market players can access the full report on the Global Automotive Aluminum Market from Spherical Insights & Consulting. Don’t miss out on this opportunity to explore the future trends and growth opportunities in the automotive aluminum industry.



Read more at GlobeNewswire: Global Automotive Aluminum Market Size To Worth USD 189.94