Automotive Alloy Material Market: Value Chain Analysis and Forecast 2025 Automotive alloy material includes aluminum alloy, magnesium alloy, and others. With the focus on reducing the car weight and limiting the amount of exhaust emissions, automakers are being forced to manufacture lighter and environmental friendlier, cheaper and safer cars. Since the amount of carbon-dioxide emitted is proportional to the size of the car and the amount of fuel consumption, reduction of weight becomes a critical criteria. Use of proper alloys by the automaker can achieve these desired outcomes. The potential for using automotive alloy materials have been increased due to rising concerns related to efficient fuel consumption and reduction of carbon-dioxide emissions. Therefore, environmental laws and the urge to produce lighter vehicles have been driving the growth of the market. For instance, the Corporate Average Fuel Economy (CAFÉ) program limits the average use of fuel in cars in the United States. Since aluminum and magnesium alloys are being used extensively, the price of these alloys materials are being pushed down. This factor will also play a key role in more usage of alloys in the manufacture of automobiles and automobile components and further drive the market. Obtain Report Details @ http://www.transparencymarketresearch.com/automotive-alloy-material-market.html High cost of magnesium alloys are a major hindrance in this market. Aluminum alloys are often prone to corrosion and rust and replacing it with magnesium alloys will be the most suitable choice. But due to high cost of magnesium alloys, aluminum alloys still form a major share of the market. Therefore inability to replace the market with the more efficient option of magnesium alloys is expected to have mild restraining impact on the market. The market has been segmented based on type of alloy material and geography. Based on type of alloy material the market has been further segmented into aluminum and magnesium alloy. Aluminum have been used extensively in automobile manufacturing for many years. Use of aluminum alloys reduces up sprung weight and improves vehicle dynamics but many automotive components still use cast irons. Aluminum nano-composites can further improve the strength of the aluminum alloy similar to that of cast iron.
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