Global Alloys for Automotive Market Information Report by Type (Iron, Titanium, Steel), by Application (Chassis, Powertrain), by Vehicles (Passenger Vehicle and Commercial Vehicles) and by Region - Global Forecast to 2022
An alloy is a mixture of two or more chemical elements, one of which is a metal and is used in a wide variety of applications. In some cases, to reduce the cost of the material while in other cases, to provide strength, reduce overall weight and resistance to corrosion over pure metals.
Automotive applications of alloys are growing due to increasing demand for more fuel efficient vehicles to reduce fuel consumption and air pollution. The growing demand for fuel efficient vehicles with reduced weight and improved performance is the major driving factor of alloys for automotive market.
Strict government regulations for environmental safety are also driving the alloys for automotive market. Global Alloys for Automotive market is expected to register a CAGR of about 7%.
The leading players in the Alloys for Automotive market are ArcelorMittal SA (Luxembourg), Aditya Birla Group (India), Alcoa Inc. (U.S.), UACJ Corporation (Japan), ThyssenKrupp AG (Germany), Kobe Steel, Ltd.
(Japan), Norsk Hydro ASA (Norway), AMG Advanced Metallurgical Group NV (Netherlands), and Constellium (Netherlands), and AGCO Corporation (U.S) and others.
Regional Analysis of Alloys for Automotive Market:
Asia Pacific is dominating the global Alloys for Automotive market and followed by North America and Europe. Asia Pacific is expected to be leading the market by the end of the forecasted period due to increasing annual vehicle production and demand of vehicles in this region.
Developing countries such as China, Japan and India are the key markets for alloys in the Asia Pacific region.
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