Home > Pressrelease > Aluminum Flat Products Market size worth over $75 billion by 2026

Aluminum Flat Products Market size worth over $75 billion by 2026

  • Published Date: February 28, 2020

According to a new research report by Global Market Insights Inc., the aluminum flat products market size is set to surpass $75 Billion by 2026. Growing trends towards electric vehicles in the automotive industry will foster the products demand.

Aluminum flat products properties such as its durability and light weight has led to its demand in consumer goods and packaging applications. Growing penetration towards sustainable packaging solutions to curb plastic waste may drive aluminum flat products market demand. Moreover, increasing flat products application in consumer goods such as sports equipment, laptops and TV’s may foster the overall industry growth.

Increasing demand for sheets in automotive industry will foster overall aluminum flat products market size

According to the reports, aluminum flat products has raised great interest in its automotive & construction industry. In automotive sector, aluminum sheets are widely used in manufacturing of vehicle panels or cars and tractors which play an important role in increasing fuel efficiency. Aluminum sheet for body panels features excellent formability and offers high strength equal to cold rolled steel.

These sheets save 90% of the energy needed to produce primary aluminum. These sheets also act as key raw material for automotive side panel, storage tank walls, architectural panels, and signs. Furthermore, aluminum sheets can be reprocessed constantly without loss of properties, thereby driving aluminum flat products market demand.

“As per industry forecasts, aluminum sheets segment will account for over 25% at the end of 2026 owing to robust demand for manufacturing of lightweight automotive parts”

Browse key industry insights spread across 260 pages with 271 market data tables and 59 figures & charts from the report, “Aluminum Flat Products Market By Product (Flat Bars, Foil Stock, Fin Stock, Sheets, Plates, Circles), By End-Use (Building & Infrastructure {Residential, Commercial, Transport Networks, Utilities}, Automotive & Transportation, Consumer Goods, Equipment & Machinery, Electrical & Electronics, Packaging), Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2019 – 2026” in detail along with the table of contents:

Growing demand for flat aluminum products in equipment’s & machines in various industries may spur industry growth

According to market analysis, aluminum flat products is anticipated to witness significant gains at over 3.0% by 2026. Growing industrial activities which require heavy machineries such as CNC machines may drive the aluminum flat products market growth. These products are ideal for mechanical parts used in these equipment’s; the oxidized layer is resistant to corrosion from the other elements. Growing demand for aluminum in various household cooking equipment’s owing to its lightweight nature may drive the global market. Large aluminum pots and other commercial catering equipment that are made from aluminum are very easy to manage and carry which in turn accelerate product demand.

Growing penetration of aluminum flat products in manufacturing light weight automotive vehicles will foster product demand in North America

As per regional market analysis, North America from automotive & transport may surpass USD 4.5 billion by 2026. The increasing demand for light commercial vehicles due to upgrades in logistics and transport along with strict fuel emission guidelines is likely to promote growth in the production of pick up vans, trucks, and electric small trucks.

Lightweight materials are vital for boosting the fuel economy of modern cars while preserving their safety and functioning. The usage of lightweight materials such as aluminum in vehicles requires minimum energy to speed up a lighter car than a stronger one and offers more potential for both manufacturers and consumers. Aluminum flat products offer a wide range of solutions for heat exchanger, material auto body sheet and functional surfaces for automotive interior and exterior design, which may spur regional aluminum flat products industry.

Key industry players in aluminum flat products market are Constellium, Rusal, Aleris, NALCO and Logan Aluminum. According to market trends, several manufacturers are also involved in various policies and programs including industrial developments and mergers & acquisition in order to gain substantial market share.

Authors: Kunal Ahuja, Sarita Bayas

Explore More on Related Topics: