Aluminum Flat Products Market Size

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. 

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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.

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.