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Automotive Aluminum Alloy (OE) Market Expected to Reach a Valuation of USD 27.9 billion by 2031, Showing a Remarkable CAGR of 5.1% - Transparency Market Research, Inc. [Yahoo! Finance]

Howmet Aerospace Inc. (HWM) 
Company Research Source: Yahoo! Finance
Wilmington, Delaware, United States, March 06, 2024 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The automotive aluminum alloy (OE) industry was valued at US$ 17.8 billion by 2022 and is estimated to reach US$ 27.9 billion by 2031. According to TMR, the market is forecast to rise at a 5.1% CAGR from 2023 to 2031. The market is driven by various demands, of which stringent emission standards and customer inclination toward lightweight vehicle structures are the main drivers. Regarding reducing the total weight of the vehicle, it is known that about 50% of the weight could be reduced if Aluminium is used in place of any other metal. Not only does the weight of the frame of the vehicle decrease, but downsizing of the brake system also becomes possible. Consequently, the vehicle's overall weight decreases, assuring better on-road stability. Download sample PDF copy of report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=48450 The wide appl Show less Read more
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