Aluminum Market (2022 -2030) Impacted by COVID-19, Market to Remain Dormant in Near Term, Projects FMI
Aluminum is largely consumed by the automotive industry, as it has been the most favoured material used in the manufacturing of most of the automotive parts. The industry has favoured aluminum alloys mainly for their low cost and lightweight properties. However, the continual need for more versatile material properties, sustainability, and even lower costs of materials is triggering the end users to discover materials that offer even better performance characteristics. While plastic is gaining more and more popularity in the automotive industry, recent studies also show that zinc alloys are emerging as a better choice than aluminum or magnesium alloys for automotive manufacturers. Zinc is known to be more sustainable than aluminum and it also shows superior properties alongside traditional factors such as flexibility, cost, and time. Thereby, the rise in adoption of low-cost and high-performing alternatives, especially across the automotive industry is likely to have a neg...