Alcoa Sees World Demand For Aluminum Growing 7% In Autos & Aerospace

The largest United States aluminum producer, Alcoa Inc., is predicting a 7% growth in aluminum world demand this year as the lightweight metal orders from the auto and aerospace industry continue to grow.

Alcoa is estimating a 5.8% rise in U.S. auto sales in 2015 as well as demand for commercial and regional jets to increase by as much as 10%.

The aerospace industry’s use of aluminum has continued to rise over the past few years but utilizing aluminum in the auto industry is still relatively new.

As automakers look to save weight and boost fuel efficiency, more and more are making the move to aluminum such as Ford introducing a brand new all-aluminum F-150 this year.

Speaking on aluminum, Chairman and Chief Executive Officer Klaus Kleinfeld said,  automakers “need it and the consumers like it.”