Major players in the high strength aluminum alloys market are Rio Tinto PLC, Aluminum Bahrain B. S. C. , Mitsubishi Rayon Co. Ltd. , Norsk Hydro ASA, Hindalco Industries Limited, Alcoa Inc. , United Company Rusal , Aluminum Corporation of China Limited, Century Aluminum Company, China Hongquiao Group Limited.

New York, June 02, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "High Strength Aluminum Alloys Global Market Report 2022" - https://www.reportlinker.com/p06282677/?utm_source=GNW
, Constellium SE, Advanced Materials Technology, Alemix, Kobe Steel, Ltd., NALCO and Precision Armament

The global high strength aluminium alloys market is expected to grow from $34.91 billion in 2021 to $37.15 billion in 2022 at a compound annual growth rate (CAGR) of 6.41%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $47.78 billion in 2026 at a CAGR of 6.49%.

The high strength aluminum alloys market consists of sales of high strength aluminum alloys by entities (organizations, sole traders, or partnerships) that refer to alloys having high strength aluminum as the predominant metal.They are alloyed using copper, magnesium, manganese and other metals.

High strength aluminum alloys are capable of creating complex extrusions and have applications in cushioning and weight reduction.

The main alloy types of high strength aluminum in lude wrought and cast.Wrought alloys are manufactured by working the alloy in solid form with the help of specific tools.

It is produced by smelting pure aluminum ingots with the specific alloying elements required to make a given grade of aluminum. The high strength aluminum alloys segments by strengths include high-strength and ultra-high strength, which are used for applications in aerospace, defense and space, automotive, railway and marine and other applications.

Asia Pacific was the largest region in the high strength aluminium alloys market in 2021. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Increasing demand for lightweight automobiles and aircraft is driving the growth of the high-strength aluminum alloys market.The use of aluminum alloys decreases the weight of an aircraft greatly as it is quite lighter than steel, allowing aircrafts to either carry more weight and increase fuel efficiency.

For instance, a 20% weight reduction in a Boeing 787 is expected to generate 10-12% improvement in fuel efficiency.In addition to a decrease in carbon footprint, lightweight parts also improve operational efficiency such as better acceleration, higher structural strength, and better protecting performance.

Therefore, the increasing demand for lightweight automobiles and aircraft drives the high-strength aluminum alloys market.

Continuous research and development in the high-strength aluminum alloys market is a key trend in the market.Various stakeholders are focusing on the development of better, efficient and environment friendly high-strength aluminum alloys.

For instance, in 2021, scientists at the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI) in India developed an environment-friendly process for improving the lasting of a material in the face of corrosion of high strength aerospace aluminum alloys. The enhancement in wear and corrosion resistance was done through depositing harder alumina coating through anodizing, hard anodizing, and micro-arc oxidation (MAO), which is an eco-friendly process with lower environmental impact.

In April 2021, RUSAL, a Russia based aluminum company announced the acquisition of Aluminium Rheinfelden GmbH for an undisclosed amount.The acquistion reinforces RUSAL’s position as the supplier of choice to its transnational network of automotive clients.

The deal gives access to Aluminium Rheinfelden’s high-end, niche product focus for expanding geographical footprint. Aluminium Rheinfelden GmbH is a Germany based manufacturers of aluminium alloys and semis and a major supplier to the global automotive industry.

The countries covered in the high strength aluminum alloys market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.


Read the full report: https://www.reportlinker.com/p06282677/?utm_source=GNW

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