Global Aluminum Alloys Market Size By Application, By Geographic Scope And Forecast
Aluminum Alloys Market Size And Forecast
Aluminum Alloys Market was valued at USD 31.15 Billion in 2019 and is projected to reach USD 40.62 Billion by 2027, growing at a CAGR of 3.4% from 2020 to 2027.
Global Aluminum Alloys Market Outlook
Growing demand from transportation industry as aluminum alloys are majorly used in transportation due to its non-corrosive nature, recyclability, lightweight, thermal and electric conductivity and high strength. Furthermore, to reduce weight and to increase fuel efficiency of automobiles due to stringent regulations on carbon dioxide emission from automobile thus, aluminum alloys are used to reduce weight. Furthermore, as aluminum is good conductor of heat and electricity is used in transmission lines, transformers and motors thus electrical applications also driving the market growth of aluminum alloys market.
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Global Aluminum Alloys Market Competitive Landscape
The Global Aluminum Alloys Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Advanced Materials Technology, Alemix, Aleris Corporation, Alcoa Corporation, Norsk Hydro ASA, Precision Armament, Rio Tinto, Hindalco Industries Ltd., Kobe Steel, Ltd. and NALCO.
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