PUBLISHER: The Business Research Company | PRODUCT CODE: 1392425
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392425
“Aluminum Rolled Products Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on aluminum rolled products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for aluminum rolled products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The aluminum rolled products market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Aluminum rolled products refer to items manufactured through a process where cast aluminum slabs undergo metal procedures to make them suitable for further processing. This processing involves forming plates or sheets through cold and hot rolling processes, resulting in products with durable, high-strength, and lightweight characteristics.
The primary products of aluminum rolled products include foil, plate, and sheet. Aluminum plates are created when aluminum billets are passed between high-pressure rollers, typically having a thickness of about 0. 250" and above. These plates are commonly used for heavy-duty applications. Aluminum rolled products come in various grades, including the 1xxx series, 3xxx series, 5xxx series, and 6xxx series, and find applications in automotive and transportation, building and infrastructure, packaging, consumer durables, and other industries.
The aluminum rolled products market research report is one of a series of new reports from The Business Research Company that provides aluminum rolled products market statistics, including aluminum rolled products industry global market size, regional shares, competitors with an aluminum rolled products market share, detailed aluminum rolled products market segments, market trends, and opportunities, and any further data you may need to thrive in the aluminum rolled products industry. This aluminum rolled products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The aluminum rolled products market size has grown strongly in recent years. It will grow from $55. 86 billion in 2023 to $59. 98 billion in 2024 at a compound annual growth rate (CAGR) of 7. 4%. The observed growth in the historical period can be attributed to several factors, including a growing demand in various industries such as packaging, automobile, aerospace, shipbuilding, printing, and electronics. Other contributing factors include changing consumer demands, government policies and regulations, multi-year agreements for the supply of advanced aluminum rolled products, and increased urbanization.
The aluminum rolled products market size is expected to see strong growth in the next few years. It will grow to $81. 9 billion in 2028 at a compound annual growth rate (CAGR) of 8. 1%. The anticipated growth in the forecast period can be attributed to factors such as the rising adoption of strategies by key players, an increasing demand for aluminum rolled products, the growing automotive and transportation industry, expansion in the electricals and electronics sector, and a heightened demand for sustainable aluminum through recycling scrap. Key trends expected in the forecast period include a focus on the circular economy, lightweighting in transportation, architectural innovation, customization and formability of aluminum products, and the integration of digitalization in manufacturing processes.
The anticipated surge in demand within the automotive industry is poised to drive substantial growth within the aluminum rolled products market. Aluminum rolled products hold crucial significance in various automotive components, including vehicle frames, bodies, wheels, electrical wiring, paint, lamps, transmissions, air conditioner condensers, and pipes. With an upsurge in automotive demand, witnessed in statistics from May 2023 by the European Automobile Manufacturers Association, where global motor vehicle production in 2022 reached 85. 4 million units-indicating a significant 5. 7% increase from 2021-alongside data from Brand Finance plc in February 2022 revealing a notable 10% rise with approximately 78 million unit sales, the escalating need within the automotive segment distinctly propels growth in the aluminum rolled products market.
Burgeoning demand within the construction sector is projected to be a key driver for the expansion of the aluminum rolled products market. In construction, aluminum rolled products stand out due to their lightweight nature, durability, corrosion resistance, and design flexibility. These attributes contribute significantly to improved energy efficiency, reduced maintenance costs, and overall cost-effectiveness in construction projects. Highlighted by forecasts from September 2021 by Oxford Economics, global construction output is expected to soar by 42%, or $4. 5 trillion, reaching USD 15. 2 trillion by 2030. Hence, the burgeoning demand in the construction sphere distinctly propels the upward trajectory of the aluminum rolled products market.
A noteworthy trend gaining traction within the aluminum rolled products market is product innovation. This trend revolves around the development or introduction of new goods or enhanced versions of existing products. A case in point is Novelis Inc., a US-based producer of rolled aluminum, unveiling the generation II of its aluminum-intensive battery enclosure designed for electric vehicles in 2021. This advanced enclosure, leveraging aluminum sheets, significantly reduces battery weight and cost while offering higher pack energy density compared to other electric vehicle battery enclosures. Notably, the innovative aluminum-intensive battery enclosure boasts advanced cell-to-pack modular architecture, achieving a best-in-class frame mass efficiency below 1. 0 kg/Kwh and a remarkable 30% enhancement in energy density. Such product innovations continue to drive momentum and differentiation within the aluminum rolled products market, particularly in cutting-edge applications like electric vehicles.
Leading companies within the aluminum rolled products market are strategically focusing on innovative offerings as a pivotal strategy to drive revenue growth within their respective markets. These product innovations involve the development of new and enhanced aluminum-based materials, shapes, or coatings that deliver superior performance, functionality, or sustainability across diverse industries. An exemplar of this strategic focus on innovation is evident in the actions of Novelis Inc., a US-based aluminum rolling and recycling entity. In March 2022, Novelis Inc. introduced Novelis HRC57-an advanced and sustainable anodizing aluminum product. Remarkably, HRC57S, boasting over 90% recycled material, stands out with exceptional bending capabilities and non-flammable attributes suitable for decorative batch anodizing. Available in coil and flat sheet dimensions, this product empowers building owners, architects, fabricators, and facade installers to craft intricate and captivating designs while significantly reducing the carbon footprint in newly constructed or remodeled buildings. Novelis Inc. 's innovative product aims to revolutionize the industry by combining sustainability and functionality in aluminum rolled products.
In March 2021, KPS Capital Partners (KPS) LP, a prominent US-based private equity firm specializing in manufacturing and industrial company investments, completed the acquisition of Norsk Hydro ASA for $1. 67 billion. Norsk Hydro ASA, a Norway-based entity specializing in the manufacture of aluminum rolled products, now operates within the KPS Capital Partners portfolio. This acquisition is poised to catalyze significant investments in operational assets and business strategies, ultimately accelerating growth prospects and solidifying KPS Capital Partners' position within the aluminum rolled products market segment.
Major companies operating in the in the aluminum rolled products market report are Novelis Inc., Constellium SE, Arconic Rolled Products Corporation, Aleris Corp., Hulett Aluminium (Pty) Limited, Hindalco Industries Ltd., AMAG rolling GmbH, Alcoa Inc., Kaiser Aluminum Corp., JW Aluminum Continuous Cast Company, Viohalco SA, Granges AB, Impol Aluminum Corp., Bharat Aluminium Company Ltd., Laminazione Sottile SpA, Jindal Aluminium Limited, Century Aluminum Co., Tri-Arrows Aluminum Inc., Logan Aluminum Inc., Norsk Hydro ASA, Hydro Extrusion North America LLC, United Aluminum Corporation, Aluminum Corporation of China Limited, China Hongqiao Group Limited, China Zhongwang Holdings Limited, United Company RUSAL Plc, Emirates Global Aluminium, Gulf Aluminium Rolling Mill Company, Bahrain-based Gulf Aluminium Rolling Mill Company, Aluminium Bahrain BSC, Hindustan Zinc Limited, Vedanta Limited
Asia-Pacific was the largest region in the aluminium rolled products market in 2023. The regions covered in the aluminum rolled products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the aluminum rolled products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The market for aluminum rolled products consists of sales of strips, bars, and rods. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.