Overview of the global aluminum plates and sheet coils market
Technavio’s market research analyst predicts the global aluminum plates and sheet coils market to grow at a CAGR of more than 3% by 2020. Favorable properties like light weight, resistance to corrosion, and high conductivity have led several automotive companies to replace the use of iron and steel with non-ferrous materials such as aluminum in their auto components. The noticeable shift towards lighter vehicles is a major factor prompting such replacement, specifically the growing use of flat aluminum products in vehicles. The construction industry is another major consumer of aluminum plates and sheet coils as they provide maximum energy-efficiency in constructing sustainable buildings, and are easily recyclable. Moreover, the use of recycled aluminum composite panels in buildings is expected to rise during the forecast period, which, in turn, will be a major factor contributing to the overall market’s growth.
One of the latest trends being observed in this market are the rapid innovations in aluminum composite panel applications. Nano aluminum composite panels are the recent development in the market. These panels are coated with nanomaterial films, which are not only resistant to adverse weather conditions but also repel airborne pollutants. Also, they panels do not retain dust and do not require specific cleaning. The demand for nano aluminum composite panels will increase considerably during the forecast period as they reduce the overall maintenance expenses and have a longer lifespan. Nanocoatings also help aid in retaining gloss and color for extended periods as these are resilient to harmful effects of ultraviolet radiations.
Competitive landscape and key vendors
The global aluminum plates and sheet coils market is primarily dominated by players like Alcoa, Aleris, Hindalco-Novelis, Constellium, and Norsk Hydro. With the varied rate of growth and development of the aluminum plates and sheet coils market across different regions, there are significant regional differences in the global market growth. For instance, with the key vendors accounting for a major share of the market in APAC, the region has a high degree of the customer base.
Leading vendors in the market are -
Other prominent vendors in the aluminum plates and sheet coils market include Tajik Aluminum (TALCO), Hulamin, Chinalco, Guangzhou Xinghe, Kaidi Industrial, Logan Aluminum, Shandong Xintong Aluminum, and China Hongqiao Group.
End-user segmentation and analysis of the aluminum plates and sheet coils market
Food and beverages
Building and construction
Automobiles and transportation
Aerospace and defense
Industrial and general engineering
The food and beverages segment is the largest consumer of global plates and sheet coils and dominated the market in 2015. Sheet coils and plates are primarily used for packaging food and beverages as they preserve foods for longer periods and allow easy labeling of the product. Also, the food and beverage industry extensively use aluminum products as it is one of the most effective and sustainable packaging materials and protects food against light, oxygen, moisture, and other contaminants. The growing dependence on ready-to-eat foods and beverages will act as a major driver in boosting the demand for aluminum plates and sheet coils.
Geographical segmentation and analysis of the aluminum plates and sheet coils market
The aluminum plates and sheet coils market in APAC is the biggest and the fastest-growing market globally. China is the major contributor to the market owing to its production and consumption capacity. Countries like Japan and India are also the important contributors to the market in terms of high demand for aluminum plates and sheet coils in consumer packaging like beverage cans. Also, several established automotive manufacturers are setting up their manufacturing facilities in the region, which will further fuel the demand for aluminum sheet coils in APAC.
Key questions answered in the report include
What will the market size and the growth rate be in 2020?
What are the key factors driving the global aluminum plates and sheet coils market?
What are the key market trends impacting the growth of the global aluminum plates and sheet coils market?
What are the challenges to market growth?
Who are the key vendors in the global aluminum plates and sheet coils market?
What are the market opportunities and threats faced by the vendors in the global aluminum plates and sheet coils market?
Trending factors influencing the market shares of the Americas, APAC, Europe, and ROW.
What are the key outcomes of the five forces analysis of the global aluminum plates and sheet coils market?
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