Market Analysis And Research Reports: Automotive Aluminum Market is expected to Witness Considerable Growth Over Forecast Period by 2019-2025 - 0 views
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emmaj3206 on 25 Jul 19"The global automotive aluminum market size is expected to reach USD 60.58 billion by 2025. It is projected to register a CAGR of 8.7% during the forecast period. Rising emission standards and concerns regarding environment protection are triggering the growth. In August 2018, as per the new agreement between U.S, Mexico, and Canada, around 75% parts of cars or trucks must be manufactured in these three countries to qualify for zero tariffs. North American Free Trade Agreement (NAFTA) announced that the cars and trucks need to achieve the 54.5 mpg fuel efficiency by 2025. These government initiatives are focused on facilitating the auto manufacturers to reduce the weight of the car body by 25%. The major aluminum forms used in the automotive industry are castings, rolled products, extruded products, and stampings. aluminum coupled with copper, manganese, or silicon is used in the automotive industry to manufacture components with high strength. The benefits such as light weight, high strength, and lower emission are expected to encourage car manufacturers to choose aluminum as a material of choice."