With the automakers increasingly realizing the importance of aluminium in developing more fuel-efficient models, the global aluminium sector is expected to grow in coming years.
According to a recent report from the Aluminium Association, auto manufacturers are using higher quantity of aluminium in automobiles, causing positive impact on the aluminium industry, as reported by CommodityOnline.
A study conducted by Ducker Worldwide and commissioned by Aluminium Association revealed that the use of aluminium in automobiles averages nearly 8.6% in North America, which represents a record share. By 2020, the integration of the metal in light trucks and cars is anticipated to be around 11% of the curb weight. For light vehicles across the world, the amount of content is 7.8% of their average global curb weight of around 3,185 Pounds. By 2020, the content growth is expected to reach 300 Pounds per vehicle by growing at an annual rate of 4-5 Pounds per vehicle.
The automakers around the world, especially in North America, are continuously acknowledging the importance of automotive aluminium. Presently, automakers are seeking to carve a niche for themselves by innovating more fuel-efficient trucks and cars with low carbon-emission. Thus, it is high time for the use of advanced materials such as aluminium.
The continuous growth observed in automotive aluminium is mainly due to the number of advantages offered by it, including vehicle safety and high fuel-efficiency. Diesel and hybrid automobiles when coupled with aluminium may grant rapid returns to the consumers than if these vehicles are made using heavier metals.
Recently, the situation for aluminium industry has become tough with the enormous stock build-up at the London Stock Exchange. However, the reduction in production costs may assist in the survival of aluminium producers.
According to a Research Analyst at RNCOS, “Previously, the declining car sales severely hit the worldwide aluminium consumption since the automobile industry accounts for nearly 30% of the metal’s end-use. The global aluminium industry is currently witnessing slowdown due to declining demand on account of recession mainly in the European and American automobile markets. Nonetheless, there is still hope for the aluminium industry due to the anticipated long-term growth in aluminium content in automotive applications across the world.”
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