Asia Pacific will be the fastest growing region for aluminum in the global automotive industry
http://www.lucintel.com/aluminum-in-automotive-industry-17.aspx Lucintel has announced the launch of a market research report entitled “Growth Opportunities for Aluminum in the Global Automotive Industry”. This market report for Automotive aluminum identifies and predicts future opportunities for growth in the global Automotive Aluminum industry for various segments and for the various regions of North America, Europe, Asia Pacific, and the Rest of the World.
It also identifies growth opportunities in the segments of passenger cars and commercial vehicles. According to our market report, Aluminum in the global automotive industry is expected to reach an estimated $42.4 billion by 2022 and it is forecast to grow at a CAGR of 7.4% from 2017 to 2022.
The major drivers of growth for this market are increasing vehicle production, government regulations on the fuel economy and emission controls, increasing stringent safety regulations, and increasing gasoline prices. Alcoa Inc., Novelis Inc., Norsk Hydro ASA (ADR), Constellium N.V., and Aleris International are the major aluminum suppliers in the global automotive industry.In this market, cast aluminum, rolled aluminum, extruded aluminum are some of the major segments by product form.
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