The High Strength Aluminum Alloys by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s High Strength Aluminum Alloys, The high strength aluminum alloys market size has grown strongly in recent years. It will grow from $39.95 billion in 2023 to $42.39 billion in 2024 at a compound annual growth rate (CAGR) of 6.1%. The growth in the historic period can be attributed to increased demand for lightweight materials in the automotive and aerospace industries, increasing demand for fuel-efficient vehicles, rising demand for aluminum in the construction industry, military applications, growth of the marine industry.

The high strength aluminum alloys market size is expected to see strong growth in the next few years. It will grow to $53.25 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to growth in consumer electronics manufacturing, growing demand for electric vehicles, growing demand for aluminum in the packaging industry, growth in renewable energy projects, space exploration initiatives. Major trends in the forecast period include advancements in additive manufacturing, nanostructured aluminum alloys, recycling and sustainable practices, collaboration for material development, hybrid aluminum composites.

Increasing demand for lightweight automobiles and aircraft is driving the growth of the high-strength aluminium alloys market. The use of aluminium alloys decreases the weight of an aircraft greatly as it is quite lighter than steel, allowing aircraft to either carry more weight or increase fuel efficiency. For instance, a 20% weight reduction in a Boeing 787 is expected to generate a 10-12% improvement in fuel efficiency. In addition to a decrease in carbon footprint, lightweight parts also improve operational efficiency with such things as better acceleration, higher structural strength, and better protection performance. Therefore, the increasing demand for lightweight automobiles and aircraft drives the high-strength aluminum alloys market.

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The high strength aluminum alloys market covered in this report is segmented –
1) High Strength Aluminum Alloys Market By Alloy Type: Wrought, Cast
2) High Strength Aluminum Alloys Market By Strength: High-Strength, Ultra-High Strength
3) High Strength Aluminum Alloys Market By Application: Aerospace, Defense And Space, Automotive, Railway And Marine, Other Applications

Continuous research and development in the high-strength aluminium alloys market is a key trend in the market. Various stakeholders are focusing on the development of better, efficient, and environmentally friendly high-strength aluminium 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 durability of a material in the face of corrosion of high-strength aerospace aluminium alloys. The enhancement in wear and corrosion resistance was achieved through depositing harder alumina coatings through anodizing, hard anodizing, and micro-arc oxidation (MAO), which is an eco-friendly process with lower environmental impact.

The high strength aluminum alloys market report table of contents includes:

1. Executive Summary

2. High Strength Aluminum Alloys Market Characteristics

3. High Strength Aluminum Alloys Market Trends And Strategies

4. High Strength Aluminum Alloys Market - Macro Economic Scenario

5. Global High Strength Aluminum Alloys Market Size and Growth

......

31. Global High Strength Aluminum Alloys Market Competitive Benchmarking

32. Global High Strength Aluminum Alloys Market Competitive Dashboard

33. Key Mergers And Acquisitions In The High Strength Aluminum Alloys Market

34. High Strength Aluminum Alloys Market Future Outlook and Potential Analysis

35. Appendix

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