Enjoy complimentary customisation on priority with our Enterprise License!
The aluminum flat-rolled products (FRP) market size is estimated to grow by USD 21.45 billion at a CAGR of 6.47% between 2023 and 2028. The growth of the market depends on the increased adoption of green initiatives. Several factors affect the market's growth, such as the increasing applications of composite materials in the aerospace industry. The accelerated growth of the market is due to various factors, including the growing mass transportation.
To learn more about this report, Request Free Sample
The plates and sheets segment is estimated to witness significant growth during the forecast period. Aluminum is formed into plates and sheets by passing it through rolls while under pressure. Aluminum sheets find application in various end-user industries, including building and construction (building facades), aerospace (aviation skins), and packaging (cans). 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.
Get a glance at the market contribution of various segments View the PDF Sample
The plates and sheets segment was the largest segment and was valued at USD 38.92 billion in 2018. Aluminum plates and sheets provide a barrier against moisture, oxygen, air, and other environmental factors that can cause spoilage of foods in cans. They are non-toxic, non-hazardous, and do not impact the taste of the food. Another important factor driving the plates and sheets market is the increased demand for armor plates (military grade) in countries such as the US. Therefore, the plates and sheets segment will play a significant role in increasing the demand during the forecast period.
Based on End-user, this segment is classified into automotive and transportation, building and construction, industrial, electrical and electronics appliances, and others. The automotive and transportation?segment will account for the largest share of this segment.
APAC is estimated to contribute 64% to the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
For more insights on the market share of various regions Download PDF Sample now!
The increased adoption of green initiatives is the key factor driving the market. Governments of various countries are encouraging the use of 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 FRP led by the support of different governments and associations globally. Additionally, 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 market during the forecast period.
Growing mass transportation is the primary trend shaping market growth. The demand for public transport is increasing with the increasing population. The use of aluminum is increasing in these mass vehicles due to various advantages like efficiency, lightweight, ease of maintenance, and reduced fuel consumption and greenhouse gas emission. In addition, the popular products used include embossed and chequered sheets, which are utilized for flooring and paneling applications 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 to procure new vehicles during the forecast period.
Increasing applications of composite materials in the aerospace industry is a challenge that affects the market. 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 for about two decades. Furthermore, despite being more expensive than 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. Therefore, such factors are expected to impede market growth and trends during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
The market trends and analysis report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Alcoa Corp., Aluminum Corp. of China Ltd., Aluminum Federation of South Africa, Arconic Corp., Grasim Industries Ltd., Gulf Aluminium Rolling Mill BSC, Hulamin Ltd., Jindal Aluminium Ltd., JW Aluminum, Kaiser 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 S.A.
Qualitative and quantitative analysis of companies 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 companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the 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 strategies.
Customer Landscape
The Aluminum Flat-Rolled Products (FRP) Market witnesses comprehensive sizing and industry analysis, synthesizing primary and secondary information to provide key participants with a detailed market landscape. Key vendors, identified through qualitative and quantitative research, contribute to the publisher's study, culminating in accurate market summation. Factors such as profit, pricing, and competition shape market facets, while growth drivers and key industry influencers influence vendor selection methodology. Market research reports highlight promotions and market dynamics, facilitating informed decisions within the sector, and ensuring a robust understanding of the market's evolution and potential opportunities.
Aluminum Flat-Rolled Products (FRP) Market Scope |
|
Market Report Coverage |
Details |
Page number |
181 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 6.47% |
Market Growth 2024-2028 |
USD 21.45 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.54 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 64% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
Alcoa Corp., Aluminum Corp. of China Ltd., Aluminum Federation of South Africa, Arconic Corp., Constellium SE, Grasim Industries Ltd., 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 S.A. |
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 market growth and forecasting 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 market research report to meet your requirements.
Get lifetime access to our
Technavio Insights
Cookie Policy
The Site uses cookies to record users' preferences in relation to the functionality of accessibility. We, our Affiliates, and our Vendors may store and access cookies on a device, and process personal data including unique identifiers sent by a device, to personalise content, tailor, and report on advertising and to analyse our traffic. By clicking “I’m fine with this”, you are allowing the use of these cookies. Please refer to the help guide of your browser for further information on cookies, including how to disable them. Review our Privacy & Cookie Notice.