Lightweighting with aluminum to continue strongly until 2030
S&P Global Mobility forecasts that the global automotive aluminum market will see a compound annual growth rate (CAGR) of 3.7% from 2023 to 2034.
The automotive industry's focus on lightweighting with aluminum has become crucial in the pursuit of reducing emissions and improving fuel efficiency. The rise of electrification has further driven the demand for aluminum as it allows for lightweighting electric vehicle components and offsets the weight of batteries. This aligns with the industry's sustainability goals, as aluminum is highly recyclable.
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