Aluminium Flat-Rolled Products Market by Product Types (Plates, Sheets, Foil, Coil and Others), by Grade (1xxx Series, 3xxx Series, 5xxx Series, and 6xxx Series), and by End Use (Automotive and Transportation, Building and Construction, Packaging, Aerospace, Consumer Goods, Food and Beverage, and Other End User) – Global Opportunity Analysis and Industry Forecast 2024-2030
Industry: Materials and Chemical | Publish Date: 12-Nov-2024 | No of Pages: 374 | No. of Tables: 250 | No. of Figures: 215 | Format: PDF | Report Code : MC1371
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Market Definition
The Aluminium Flat-Rolled Products Market size was valued at USD 44.70 billion in 2023 and is predicted to reach USD 79.64 billion by 2030 with a CAGR of 7.9% from 2024-2030.
Aluminium flat-rolled products refer to a category of aluminium products that are manufactured through a flat-rolling process. This process involves reducing the thickness of aluminium ingots and slabs through a series of rolling mills to achieve the desired dimensions, surface finish, and mechanical properties.
Aluminium flat-rolled products offer numerous benefits, including lightweight construction, durability, corrosion resistance, formability, and recyclability. These qualities make them highly versatile and efficient materials for a wide range of industrial applications in numerous industries such as food & beverage, and energy & power. These features of aluminium enhance its suitability for harsh environments, ensuring longevity in products used in marine and construction sectors.
Market Dynamics and Trends
The rising utilization of aluminium flat-roll products in the automotive sector, with the goal of reducing vehicle weight and improving fuel and battery efficiency, is boosting the demand for aluminium flat-rolled products. Aluminium provides structural integrity while reducing the overall weight of the vehicle, enhancing safety and efficiency without compromising the performance of the vehicle.
According to the latest report published by the Aluminum Association, the use of aluminium in the automotive industry is experiencing significant growth. In 2022, the amount of aluminium used per vehicle production reached 152 kilograms, and it is projected to increase to 250 kilograms by 2025, highlighting the automotive industry's shift towards lightweight materials to meet evolving regulatory standards and consumer preferences for more efficient and sustainable vehicles.
Additionally, the growing use of aluminium metal in packaging industries for innovative packaging solutions is further driving the demand for aluminium flat rolled products industry. Aluminium's versatility enables the creation of innovative packaging solutions, such as easy-open lids, resealable closures, and customizable shapes.
According to the International Aluminium Institute (IAI), global aluminium consumption in the packaging industry is projected to reach 10.5 metric tons by 2030, compared to 7.3 metric tons in 2020. Additionally, the use of aluminium flat-rolled products in renewable energy applications, such as solar panels and wind turbines, is driving market expansion.
As the renewable energy sector continues to grow, the demand for aluminium flat-rolled products in advancing renewable energy infrastructure and meeting sustainability goals is anticipated to grow significantly.n According to a report published by the World Bank, aluminium metal accounts for nearly 85% of the total metal used in manufacturing solar panels and their components.
Moreover, there is a global requirement of 10 million tons of aluminium rolled products by the end of 2030 to support the production of these panels and increase solar PV capacity from 136 gigawatts to 600 gigawatts. However, the high costs associated in manufacturing aluminium rolled products is restraining the overall growth of the market.
On the contrary, advent of advanced recycling technologies, such as high-efficiency sorting and separation processes plays a crucial role in improving the quality and yield of recycled aluminium from flat-rolled products. This leads to improved quality and purity of recycled aluminium which is further expected to create ample opportunity growth for the market.
Market Segmentation and Scope of Study
The aluminium flat-rolled products market is divided on the basis of product type, grade, end use industry and region. On the basis of product type, the market is divided into plates, sheets, standard GEQ, circles, foil stock, can stock, and fin stock. On the basis of grade, the market is categorized into 1xxx series, 3xxx series, 5xxx series, and 6xxx series. On the basis of end use industry, the market is segmented into transport, consumer goods, machinery & equipment, construction, foil and packaging, electrical engineering, and other end users. Regional breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
Asia-Pacific holds the dominating share of aluminium flat-rolled products market at present and is expected to continue its dominance throughout the forecast period.
This is attributed to factors such as the rapidly growing construction industry along with the increasing emphasis on sustainable construction practices which further contributes to the rising demand for aluminium flat-rolled products. According to a report published on India Brand Equity Foundation, the construction sector is growing significantly in India, and it is anticipated to reach USD 9.30 billion by 2040 as compared to USD 1.72 billion in 2019.
This surge in the construction industry is boosting the adoption of sustainable aluminium rolled products for constructing building materials such as windows, doors, roofing and cladding. Also, the growing automotive sector in Asia Pacific, particularly in countries such as China and India, is propelling the growth of the aluminium flat-rolled products market.
This material is preferred for vehicle manufacturing due to its lightweight, durable, and environmentally friendly properties. According to the International Trade Administration (ITA), China is the largest automotive vehicle producers with a domestic production expected to reach 35 million vehicles by the year 2025.
On the other hand, North America is considered fastest growing region in the aluminium flat-rolled products industry owing to the increasing adoption of renewable energy sources in this region. The rising demand for flat rolled aluminium for frames, converters, turbines, and other major components of solar panels and wind mills is anticipated to significantly boost the growth of the market.
According to the U.S. Energy Information Administration (EIA), residential solar power installation surged by 34%, increasing from 2.9 gigawatts in 2020 to 3.9 gigawatts in 2021 in the U.S. Additionally, the rising investment by the U.S. government in the renewable energy sector is expected to further boost the market expansion.
For instance, in 2023, the U.S. government announced to invest USD 20 billion for the development of renewable energy infrastructure across the nation, creating a lucrative opportunity for the market expansion.
Moreover, the presence of prominent companies such as Assan Aluminyum and Alcoa Corporation are adopting various business strategies including investment and business expansion which in turn is boosting the market growth. These companies play a crucial role in driving advancements, innovation, and market expansion within the aluminium flat-rolled products market in this region.
For instance, in October 2022, Assan Aluminyum, a leading manufacturer of flat-rolled Aluminium, invested USD 460 million to establish a facility in the U.S. through this business expansion, the company aims to achieve an annual production capacity of 120,000 tonnes, aligning with the company's strategic initiative to fulfill the growing demand from American enterprises.
Competitive Landscape
Various players in the aluminium flat-rolled products market includes Hindalco Industries Ltd., Vedanta Aluminium & Power, Speira GmbH, Gabrian International, Constellium SE, Laminazione Sottile S.p.A., Arconic, UACJ Corporation, Norsk Hydro ASA, Hulamin, and others. These market players are opting various strategies such as product launch and business expansion to maintain their dominance in the global aluminium flat-rolled products market.
For instance, in May 2023, Novelis Inc., a prominent provider of sustainable aluminium solutions and aluminium rolling & recycling, announced the commencement of its new roll forming development line. This business expansion initiative was aimed towards addressing the demand for large volumes of high-strength aluminium components for the automotive sector.
Key Benefits
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The report provides quantitative analysis and estimations of the aluminium flat-rolled products market from 2024 to 2030, which assists in identifying the prevailing market opportunities.
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The study comprises a deep-dive analysis of the aluminium flat-rolled products market including the current and future trends to depict prevalent investment pockets in the market.
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Information related to key drivers, restraints, and opportunities and their impact on the aluminium flat-rolled products market is provided in the report.
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Competitive analysis of the players, along with their market share is provided in the report.
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SWOT analysis and Porters Five Forces model is elaborated in the study.
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Value chain analysis in the market study provides a clear picture of roles of stakeholders.
Key Market Segments
By Product Type
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Plates
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Sheets
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Foil
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Coil
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Others
By Grade
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1xxx Series
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3xxx Series
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5xxx Series
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6xxx Series
By End User
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Automotive and Transportation
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Building and Construction
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Packaging
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Aerospace
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Consumer Goods
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Food and Beverage
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Other End User
By Region
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North America
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The U.S.
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Canada
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Mexico
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Europe
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The UK
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Germany
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France
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Italy
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Spain
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Denmark
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Netherlands
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Finland
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Sweden
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Norway
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Russia
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Rest of Europe
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Asia Pacific
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China
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Japan
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India
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South Korea
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Australia
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Indonesia
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Vietnam
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Taiwan
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Thailand
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Rest of Asia Pacific
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RoW
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Latin America
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Middle East
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Africa
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REPORT SCOPE AND SEGMENTATION:
|
Parameters |
Details |
|
Market Size in 2023 |
USD 44.70 billion |
|
Revenue Forecast in 2030 |
USD 79.64 billion |
|
Growth Rate |
CAGR of 7.9% from 2024 to 2030 |
|
Analysis Period |
2023–2030 |
|
Base Year Considered |
2023 |
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Forecast Period |
2024–2030 |
|
Market Size Estimation |
Billion (USD) |
|
Growth Factors |
|
|
Countries Covered |
28 |
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Companies Profiled |
10 |
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Market Share |
Available for 10 companies |
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Customization Scope |
Free customization (equivalent to up to 80 working hours of analysts) after purchase. Addition or alteration to country, regional, and segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research needs. |
KEY PLAYERS
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Hindalco Industries Ltd.
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Vedanta Aluminium & Power
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Speira GmbH
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Gabrian International
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Constellium SE
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Laminazione Sottile S.p.A.
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Arconic
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UACJ Corporation
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Norsk Hydro ASA
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Hulamin
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