SHANGHAI, Jun. 8 (SMM) –While global demand for aluminum is growing by 2-3% per year, demand from automobile industry looks set to increase 14% every year, Norsk Hydro President & CEO Svein Richard Brandtzæg said.
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This is due to rules and regulations, incentivizing car makers to build lighter cars that are more environmentally friendly, Svein Richard Brandtzæg explained.
Aluminum is a preferred metal for automotive applications for several reasons: its density is only one-third that of steel, it has excellent corrosion properties, leads heat and electricity effectively, and not least – it is infinitely recyclable. In addition, aluminum – when alloyed and manufactured in a smart way – absorbs energy very effectively, making cars safer.
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