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Aluminum Flat Products Market Size
Aluminum flat products market size exceeded USD 52 Bn, globally in 2018 and is estimated to grow at over 5.0% CAGR between 2019 and 2026. Growing trends towards lightweight electric vehicles for performance benefits and reduction of greenhouse emission should increase aluminum flat products consumption.
Aluminum flat products, which are generally produced from the flat rolling processing methods, are extensively being used in production of cans, automobile bodies, foils, and machinery and equipment. Increasing use in automotive industry, given the rising preference for lightweight components is anticipated to drive the global aluminum flat products market.
Aluminum flat products are produced from flat rolling processing method which turns an aluminum ingot known as slab into thinner product or a plate. Flat aluminum products are widely used in manufacturing of cans, foil, automobile bodies and equipment & machinery which may drive aluminum flat products market demand.
| Report Attributes | Details |
|---|---|
| Base Year: | 2018 |
| Market Size in 2018: | 52 Billion (USD) |
| Forecast Period: | 2019 to 2026 |
| Forecast Period 2019 to 2026 CAGR: | 5.0% |
| 2026 Value Projection: | 75 Billion (USD) |
| Historical Data for: | 2015 to 2018 |
| No. of Pages: | 273 |
| Tables, Charts & Figures: | 330 |
| Segments covered: | Product, End-Use |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Production of these rolled products is a cost-effective process as the metals are shaped into custom cross-section profiles, which require low labor demands, allowing higher volume production for most products with higher efficiency.
Aluminum flat products are used broadly in various applications including household utensils, packages, closures, building interiors & exteriors, roofs and home electric appliances. Flat aluminum products such as aluminum cans have higher recycling rates than other packaging material. They are lightweight, stackable, and strong, allowing brands to package & transport more beverages using lesser materials.
In 2018, the aluminum industry recycled 56.2 billion cans with a recycling rate of 63.6%. The rising awareness about plastic pollution and its adverse effects on the environment have prompted many government organizations to take initiatives, such as plastic recycling, and impose regulations to curb plastic waste generation. However, as plastic recycling is not completely effective, industries are opting for alternative packaging solutions such as aluminum foil.
Increasing demand in construction owing to its maintenance free and corrosion resistance properties may boost the aluminum flat products market growth. Aluminum bars are used as a unique mixture of strength and lightness, which enables frames, sashes, and fittings to be neat and unobstructive.
Moreover, the bars do not require painting while its dimensional strength ensures years of trouble-free operation. Aluminum used in the construction industry does not have any negative impacts either on the quality of the air inside buildings, on land or water.
Manufacturers often struggle to cope with the market competition while trying to offer innovation in their product portfolio. Numerous government guidelines to promote lightweight materials in automotive may enhance the aluminum flat products market value.
Aluminum Flat Products Market Analysis
Global aluminum flat products market is bifurcated on the basis of product as flat bars, sheets, foil stock, plates, circles and others. Foil stock segment surpassed 7 million tons in 2018. Foil stock is produced from high-quality rolling ingots and con-cast coils with sophisticated equipment where the foil stock is free of surface and sub-surface defects.
Growing consumer preference toward safe packaging of products coupled with increasing shelf life may induce the usage of aluminum foil. Preference toward convenient & lightweight packaging has led merchants to come up with advanced aluminum foil packaging solutions catering to organized retail and packaged foods sectors.
Foil stock are also used in pharmaceutical packaging as they possess insulating properties. It acts as a barrier against light, oxygen and moisture which protects the drugs from contamination and deterioration. Usage of foil stock for pharmaceutical packaging also improves longer shelf life of products offering higher security to patients may boost the aluminum flat products market.
Furthermore, the ability to safeguard food and pharmaceuticals from impurity and the natural lightness of aluminum makes it a raw material of choice over other foil options. With disposable packaging trends, where plastic based packaging is posing threat to environment, aluminum foil products can help meet fundamental sustainability goals in the aluminum flat products market.
On the basis of end-use, the market is segmented as automotive & transportation, building & infrastructures, consumer goods, equipment & machinery, electronics and electrical, packaging and others. Aluminum flat products market demand is growing due to its increase usage in transportation owing to its strength-to-weight ratio. It is lightweight in nature, which means that less energy is needed to move the vehicle, leading to greater fuel efficiency.
High-speed rail structures, such as Maglev in Shanghai and Shinkansen in Japan, also use flat aluminum. The metal allows engineers to lessen the weight of trains, cutting down friction resistance.
Increasing demand for public transport such as buses, metro trains, bullet trains and other industrial transportation vehicles may use these products in order to keep the automobile light and increase its efficiency. Usage of aluminum sheet in fuel tank averts corrosion problem and prevent chemical reaction with external material, thereby driving aluminum flat products market growth.
Europe may surpass USD 17.5 billion by 2026. Growing penetration of electric vehicles in European market in order to reduce greenhouse gas emission and contributing towards climate change may drive the aluminum flat products market growth. To reduce these impacts, Europe is now moving toward a more sustainable circular economy and decarbonized transport system.
Producing an electric vehicle with aluminum products is much cheaper than reference electric vehicles. Aluminum sheets are used to manufacture lightweight battery packs and enclosure frame solutions for electric vehicles. These battery packs can lower costs in production and operation and in turn offer maximum design flexibility.
These battery packs are made of laminated sheet such as aluminum which includes a metal layer and a resin layer which in turn drive the aluminum flat products industry.
Aluminum flat products are ideally suited to design electrical vehicles to meet demanding performance requirements. Light weighting through aluminium lowers both the manufacture and the operational expenses of electric vehicles as a lighter car needs less batteries and power to travel the same distance. The automobile manufacturers have switched from steel to aluminum flat products for battery enclosures which may drive the market growth.
Aluminum Flat Products Market Share
Global aluminum flat products market is moderately fragmented with key players including
- Novelis
- Aleris Corporation
- Arconic
- UACJ Corporation
- Norsk Hydro
- Hindalco
Companies are engaged in new product launches & collaborations in order to grow their business portfolio and offering products globally. In June 2019 Novelis declared its new design for sheet battery enclosure made entirely of aluminum for growing electrical vehicle market. This move will help the company to exploit on evolving trends for electrical vehicles and boost the aluminum flat products market share.
The aluminum flat products market report includes in-depth coverage of the industry trends, with estimates & forecast in terms of volume (Kilo Tons) and revenue (USD Million) from 2015 to 2026, for the following segments:
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By Product
- Flat Bars
- Foil Stock
- Fin Stock
- Sheets
- Plates
- Circles
- Others
By End-Use
- Building & Infrastructure
- Commercial
- Transport Network
- Residential
- Utilities
- Automotive & Transportation
- Consumer Goods
- Equipment & Machinery
- Electrical & Electronics
- Packaging
- Others
The above information has been provided for the following regions and countries:
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Russia
- Poland
- Spain
- Belgium
- APAC
- China
- Japan
- India
- South Korea
- Indonesia
- Australia
- Malaysia
- Latin America
- Brazil
- MEA
- Saudi Arabia
- South Africa
- UAE
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