Authored By: Sarah
11 Jul 2024

 Aluminum Flat-Rolled Products (FRP) Market to grow by USD 21.45 billion between 2024-2028

According to a research report “ Aluminum Flat-Rolled Products (FRP) Market” by Product Type (Plates and sheets, Foils) End-user (Automotive and transportation, Building and construction, Industrial, Electrical and electronics appliances, Other) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 21.45 billion at a CAGR of over 6.47% during the forecast period. In the global push towards sustainability, aluminum Flat-Rolled Products (FRP) have emerged as a preferred choice for various industries. Governments worldwide, including Japan, have implemented incentive policies to promote the adoption of eco-friendly technologies, such as aluminum FRP in vehicles and green buildings. The Aluminum Association has also developed recommendations for the building and construction sector, further bolstering the market growth for aluminum FRP. This trend is expected to continue, driven by the collective efforts of governments and industry associations to reduce pollutants and promote green initiatives..

Browse market data tables, figures, and in-depth TOC on “Aluminum Flat-Rolled Products (FRP) Market” by Product Type (Plates and sheets, Foils) End-user (Automotive and transportation, Building and construction, Industrial, Electrical and electronics appliances, Other) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028.

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By Product Type, the Plates and sheets segment is projected to dominate the market size in 2024.

In the dynamic business landscape of the Aluminum Flat-Rolled Products (FRP) Market, the sector experiences significant growth, driven by the burgeoning demand from automobile and transport industries. This demand stems from the manufacturing of structural components in public, light, and heavy motor vehicles, as well as in ships and trains. Aluminum's attributes, including durability, sustainability, safety, performance, efficiency, and cost-effectiveness, make it a preferred choice over steel. The automotive sector, with its increasing adoption of aluminum, serves as a major market driver. Furthermore, regulatory initiatives and environmental concerns related to pollution reduction further fuel market expansion.

By End-user, Automotive and transportation  segment is expected to hold the largest market size for the year 2024.

In the global aluminum flat-rolled products (FRP) market, the plates and sheets segment holds a significant market share. Aluminum is transformed into plates and sheets via roll forming under pressure. These sheets are versatile, finding applications in various industries such as building and construction (facades), aerospace (aviation skins), and packaging (cans). In construction, aluminum sheets are utilized for gutter manufacturing, carports, siding, roofing, and more. In transportation, they are essential for tractor-trailer and automotive body manufacturing. Additionally, aluminum sheets are used in cookware and home appliance production, while aluminum plates serve as spacecraft fuel tank and jet skins.

APAC is forecasted to hold the largest market size by region in 2024.

The Aluminum Flat-Rolled Products (FRP) market in APAC is projected to expand substantially during the forecast period, driven by a robust production and consumption base in the region. China, as the leading manufacturer and exporter of aluminum FRP globally, is implementing policies to foster domestic demand and incentivize exports of value-added products. India, with a burgeoning packaging industry, is poised to boost imports of aluminum FRP.

The Aluminum Flat-Rolled Products (FRP) Market t growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • Alcoa Corp.
  • Aluminum Corp. of China Ltd.
  • Aluminum Federation of South Africa
  • Arconic Corp.
  • Constellium SE
  • Grasim Industries Ltd.
  • Gulf Aluminium Rolling Mill BSC
  • Hulamin Ltd.
  • Jindal Aluminium Ltd.
  • JW Aluminum
  • Kaiser Aluminum Corp.
  • Kobe Steel Ltd.
  • Laminazione Sottile S.p.A
  • Met Trade India Ltd.
  • National Aluminium Co. Ltd.
  • Norsk Hydro ASA
  • SMS group GmbH
  • UACJ Corp.
  • Vedanta Ltd
  • Viohalco S.A.
.

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Research Analysis Overview

The Aluminum Flat-Rolled Products (FRP) market encompasses the production and distribution of aluminum plates, coils, ingots, and foil stock for various industries. Consumer preferences for lightweight, fuel-efficient automobiles have driven significant growth in this sector, as automakers seek to reduce emissions and improve fuel economy. Infrastructure development and the production of advanced aircrafts also contribute to the demand for high-strength aluminum FRPs. Regulations, such as those related to emissions and fuel economy, play a crucial role in shaping the market. In underdeveloped countries, the use of aluminum FRPs as a substitute for heavier materials is gaining traction due to their cost-effectiveness and environmental benefits. The financial position of key players in the market is influenced by raw material prices, processing equipment costs, and research & development investments. Defects in aluminum FRPs can lead to significant losses, making quality control a top priority. Flexible packaging and medical packaging industries also rely on aluminum foils for their lightweight, protective properties. The market for aluminum FRPs is expected to continue growing, driven by advancements in technology and increasing demand from various industries.

Market Research Overview

In the dynamic and complex business landscape, the Aluminum Flat-Rolled Products (FRP) market faces various challenges and opportunities. Key factors influencing the market include cost concerns due to regulatory uncertainties and raw material pricing. Technological disruptions, such as lightweighting technologies, are driving demand for aluminum in the electronics and electrical industries, including commercial aerospace production and military applications. Trade barriers and tariffs pose challenges, while emerging economies present new opportunities. Aluminum FRP offers advantages like energy efficiency, sustainability, and formability, making it a preferred choice for various end-use markets. These markets include the packaging sector, infrastructure, and construction industries. Technological developments in surface treatments, such as cold rolling and hot rolling, enhance corrosion resistance and recyclability. The aerospace and defense sectors, driven by worldwide defense spending, require high-strength aluminum plates for advanced aircraft structures and componentry. In the automotive industry, there is a growing focus on emissions, fuel economy, and consumer preferences for lightweight fuel-efficient vehicles. Investors should closely monitor the financial position of key players in the aluminum industry, as well as research and development efforts in flexible packaging, processing equipment, and substitute products. Understanding the cyclical nature of the market and staying informed about regulations and consumer trends is essential for success.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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