Light Weight Aluminum Alloys Catering To The Automobile Industry
Aluminum manufacturers are producing customized aluminum alloys for automobile manufacturers to produce light weight vehicles. The use of aluminum alloys in vehicles reduces carbon emissions, increases fuel economy and improves overall stability as aluminum alloys considerably reduce vehicle body weight. This is primarily driven by stringent emission regulations and growing pressure to improve economy by many national and state governments. For instance, the US government’s federal emission standards, makes it mandatory for automobile manufacturers to increase corporate average fuel economy (CAFE) from 35.5 miles per gallon (mpg) in 2016 to 54.5 mpg by 2025.This increase in CAFE is being achieved by increasing the aluminum content in the vehicle’s body to reduce its weight by around 30%. In line with this trend, global automobile manufacturers are increasing the aluminum content in their vehicles. For instance, in 2015, automobile manufacturer Ford launched its all-aluminum body F-150 mini truck which was 700 pounds lighter than the vehicle’s earlier version.
THE BUSINESS RESEARCH COMPANY EXPECTS THE ALUMINA AND ALUMINUM PRODUCTION AND PROCESSING MARKET TO GROW TO $297 BILLION BY 2021
Asia Pacific was the largest region in the alumina and aluminum production and processing market in 2017, accounting for two-fifth of the market share. This can be attributed to region’s large manufacturing, automobile, transport, and electrical market, especially in countries such as China, Japan, and Korea.
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According to The Business Research Company’s Consultant, Nitin Gianchandani, hot forming is a disruptive process in which aluminium parts are heated, pressed, and quenched within a matched die tool. Cold forming technique produces only geometrically simple parts, whereas hot forming supports use of thinner, lighter aluminium parts with more complex shapes. Treating aluminium at elevated temperatures of 600oC to 980o C increases its formability. This results in high strength, low weight, and cost-effective components for aluminium structure.
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Rio Tinto was the largest competitor with 3.6% of the market share, generating revenues of $9.3 billion for the financial year 2016. Rio Tinto’s growth strategy is to focus on high growth aluminum and aluminum alloys products and it is seeking to exit assets that do not fit this criteria. The company will continue to focus on its high returning growth projects, including the Amrun bauxite project, an aluminium development project. It expects to invest around US$5.0 billion in capital expenditure during 2017.
The alumina and aluminum production and processing industry include establishments mainly involved in alumina extraction primarily from bauxite ore, producing aluminum from alumina, recovering aluminum from scrap or dross, refining aluminum by any process, alloying purchased aluminum and rolling, drawing, casting, extruding and alloying aluminum.
Alumina And Aluminum Production And Processing Market Global Briefing 2018 is a detailed report giving a unique insight into this market. The report is priced at $1000 for an individual user. To use across your office, the price is $1500 and $2000 if you wish to use across a multinational company.
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