Enjoy complimentary customisation on priority with our Enterprise License!
The aluminum flat-rolled products (FRP) market is estimated to decline at a CAGR of 5.14% between 2022 and 2027. The size of the market is forecast to increase by USD 17.84 billion. The growth of the market depends on serval factors, including increased adoption of green initiatives, demand from the automobile industry, and increasing demand for packed foods and beverages.
This report extensively covers market segmentation by product type (plates and sheets and foils), end-user (automotive and transportation, building and construction, industrial, electrical and electronics appliances, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
To learn more about this report, Download Report Sample
The reports categorize the global aluminum FRP market as a part of the global diversified metals and mining market within the global materials market. The parent global diversified metals and mining market covers companies engaged in the production or extraction of metals and minerals such as non-ferrous metals (except bauxite), salt and borate, phosphate rock, and diversified metal mining operations. Non-ferrous metals mainly include lead, nickel, tin, titanium, zinc, cobalt, mercury, tungsten, beryllium, bismuth, cerium, cadmium, niobium, indium, gallium, germanium, lithium, selenium, tantalum, tellurium, vanadium, and zirconium. It also includes various alloys of non-ferrous metals. Our research report has extensively covered external factors influencing the parent market growth during the forecast period.
The increased adoption of green initiatives is notably driving the aluminum flat products market growth, although factors such as increasing applications of composite materials in the aerospace industry may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Key Aluminum Flat-Rolled Products (FRP) Market Driver
One of the key factors driving the aluminum FRP market growth is the increased adoption of green initiatives. Governments of various countries are encouraging the use of aluminum over other metals to reduce pollutants. The use of aluminum FRP in buildings and constructions helps buildings to achieve green status. Further, the trend of constructing green buildings has boosted the consumption of aluminum FRP led by the support of different governments and associations globally. For instance, the Aluminum Association assists aluminum stakeholders, including aluminum manufacturers, architects, end-users, engineers, and designers, in properly understanding the environmental effects associated with the production of aluminum products and formulating declarations.
Further, green committees, green conferences, and green journals are set up in almost all professional and building trade organizations to support the adoption of green buildings, which, in turn, will fuel the growth of the global aluminum FRP market during the forecast period.
Significant Aluminum Flat-Rolled Products (FRP) Market Trend
Growing mass transportation is the primary trend in the aluminum flat products market. The demand for public transport is increasing with the increasing population. High-speed trains are convenient and save time, hence gaining popularity. The use of aluminum is increasing in these mass transportation vehicles due to various advantages like efficiency, lightweight, ease of maintenance, and reduced fuel consumption and greenhouse gas emission.
The popular products used include aluminum embossed and chequered sheets, which are utilized for flooring and paneling application across the transportation industry. The demand for mass transportation is rising, particularly in thickly populated countries like India and China, leveraging the growth of the aluminum flat products market in focus to procure new vehicles during the forecast period.
Major Aluminum Flat-Rolled Products (FRP) Market Challenge
Increasing applications of composite materials in the aerospace industry is the major challenge impeding market growth. The aerospace industry has seen a rise in the use of composite materials. The aerospace industry is looking to increase the composite content in aircraft to more than 50%, thereby resulting in a significant reduction in the overall weight of the aircraft. The implementation of new-generation jets could triple the consumption of composites over a period of about two decades.
Despite being more expensive than aluminum FRP, the use of composite materials in the manufacturing of aircraft is increasing due to factors such as lightweight, high strength, and high corrosion resistance, are increasing. To add to the bargain, composite materials, with their structural flexibility, facilitate the designing of aircraft structures that are more efficient than aluminum FRP-based counterparts. Therefore, the global aluminum FRP market will have to compete with the increasing demand for advanced composite materials during the forecast period.
Key Aluminum Flat-Rolled Products (FRP) Market Customer Landscape
The report includes the adoption lifecycle of the aluminum flat products market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aluminum Flat-Rolled Products (FRP) Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the aluminum flat products market.
Aditya Birla Management Corp. Pvt. Ltd. - The company offers aluminum flat rolled products named Everlast Aluminum Roofing Sheets under their subsidiary called Hindalco Company. Through this segment, the company offers viscose staple fiber, metals, cement, viscose filament yarn, branded apparel, carbon black, chemicals, fertilizers, insulators, financial services, and telecom.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth of the plates and sheets segment will be significant during the forecast period. Aluminum sheets are used in several end-user industries, such as packaging (cans), aerospace (skins of aircraft), and building and construction (facades of buildings). The global plates and sheets market is anticipated to grow at a rapid rate owing to the demand from the building and construction, food and beverage, and automobile and transportation industries. The demand for aluminum from the transport sector is expected to grow at a rate of approximately 10% during the forecast period.
Get a glance at the market contribution of various segments Request a PDF Sample
The plates and sheets segment was valued at 37.88 billion in 2017 and continued to grow until 2021. Aluminum plates and sheets are also used in the manufacturing of lithographic plates as they can be anodized easily and provide an ideal surface for printing. Another important factor driving the aluminum plates and sheets market is the increased demand for aluminum armor plates (military grade) in countries such as the US. Therefore, plates and sheets will play a significant role in increasing the demand for aluminum FRP during the forecast period.
For more insights on the market share of various regions Request PDF Sample now!
APAC is estimated to contribute 65% to the growth of the global aluminum flat products market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
The aluminum FRP market is expected to grow at a significant pace in APAC during the forecast period, owing to the presence of strong production and consumption base of FRP in the region. Furthermore, backed by the rising disposable income, the high demand for beverage cans and foils in the pharmaceutical and packaging industry is increasing rapidly. Some of the rapidly growing end-user segments in the aluminum FRP market in India include architectural applications (curtain walling and composite panels), automotive applications (auto-fins and brazing sheets), and industrial applications (litho plates). Thus, owing to the increased demand for aluminum foil across the end-user industries, vendors in the market have established their facilities to quantify the production and easy export of aluminum.
The outbreak of the COVID-19 pandemic led to several challenges to the growth of the aluminum FRP market in APAC. However, the demand for aluminum FRP is likely to increase across end-user industries, propelling the growth of the aluminum flat-rolled products market in APAC during the forecast period.
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by Product Type (Plates and sheets and Foils), End-user (Automotive and transportation, Building and construction, Industrial, Electrical and electronics appliances, and Others), and Geography (APAC, Europe, North America, South America, and Middle East and Africa).
|
Aluminum Flat-Rolled Products (FRP) Market Scope |
|
|
Report Coverage |
Details |
|
Page number |
179 |
|
Base year |
2022 |
|
Historic period |
2017-2021 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Decelerate at a CAGR of 5.14% |
|
Market growth 2023-2027 |
USD 17.84 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
5.45 |
|
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
|
Performing market contribution |
APAC at 65% |
|
Key countries |
US, China, Japan, India, and Germany |
|
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Aditya Birla Management Corp. Pvt. Ltd., Alcoa Corp., Aluminum Corp. of China Ltd., Aluminum Federation of South Africa, Arconic Corp., Constellium SE, Gulf Aluminium Rolling Mill BSC, Hulamin Ltd., Jindal Aluminium Ltd., JW Aluminum, Kaiser Aluminum Corp., Kobe Steel Ltd., Laminazione Sottile S.p.A, MET TRADE INDIA Ltd., National Aluminium Co. Ltd., Norsk Hydro ASA, SMS group GmbH, UACJ Corp., Vedanta Ltd., and Viohalco SA |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
