Aluminum Rolled Plate Market Size, Share, Growth, and Industry Analysis, By Type (1xxx Series, 2xxx Series, 3xxx Series, 5xxx Series, 6xxx Series, 7xxx Series, and 8xxx Series), By Application (Packaging, Automotive, Trucks, & Ships, Building & Construction, Industrial, Aerospace, Tooling & Mold Blocks, Consumer Durables, and Foilstock), and by Regional Insights and Forecast to 2031

Updated On: 08 April 2024

Aluminum Rolled Plate Market REPORT OVERVIEW

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The global aluminum rolled plate market size was USD 107930 million in 2022 and the market is projected to touch USD 119840 million by 2028, at CAGR of 1.8% during the forecast period. 

Aluminum rolled plate refers to a flat sheet or plate made from aluminum that has undergone a rolling process. The rolling process involves passing the aluminum through pairs of rolls to reduce its thickness and achieve a uniform thickness across the entire sheet or plate. This process can also improve the surface finish and mechanical properties of the aluminum.

The market for aluminum rolled plates is projected to rise exponentially due to the prevalent use of the material in a wide range of application segments. Industries such as aerospace, automotive, construction, and packaging are anticipated to fuel the market demand over this forecast period as aluminum and its product is highly used in these sectors due to its low density and high strength-to-weight ratio. As the requirement of reduced weight without compromising strength is crucial in these key applications industries. Additionally, the automotive sector is a major consumer of aluminum rolled plates. With the growing emphasis on fuel efficiency and reducing vehicle weight to meet emission standards, manufacturers are increasingly incorporating aluminum in the production of automotive components and structures.

COVID-19 Impact: Scarcity of Raw Materials & Economic Challenges Descended Market Demand

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels. The disruption in the global supply chain caused the scarcity of raw materials that hampered the production of aluminum. Also, due to economic uncertainties, several industries decreased or postponed their operations and investments. Consequently, the market experienced a destruction in demand and revenue during the pandemic. While the industry may eventually recover as the situation improves, the immediate impact of COVID-19 was predominantly negative for the global market.

LATEST TRENDS

"Popularity of EVs & Sustainability Practice to Inflate Market Opportunities "

The emphasis on sustainability and environmental responsibility has been a significant trend. Manufacturers and end-users are increasingly looking for materials that are recyclable and have a lower environmental impact. Aluminum, being highly recyclable, aligns with these sustainability goals which is contributing to the expansion of this market. Apart from this, the growing popularity of electric vehicles has increased the demand for lightweight materials, including aluminum rolled plates. Aluminum is used in the construction of EV components and structures to reduce overall vehicle weight and improve energy efficiency. Innovations in rolling processes, alloy development, and surface finishing techniques are also expected to escalate the demand for aluminum rolled plates in application sectors which will likely expand the scope of this market over this forecast.

Aluminum Rolled Plate Market SEGMENTATION

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• By Type

Based on type the global market can be categorized into 1xxx Series, 2xxx Series, 3xxx Series, 5xxx Series, 6xxx Series, 7xxx Series, and 8xxx Series.

1xxx Series: This type of segment is a form of pure aluminum (99% or higher), known for excellent corrosion resistance, high thermal and electrical conductivity. This is often used in applications where corrosion resistance is crucial, such as in food and chemical processing.

2xxx Series: This is an aluminum-copper alloy. This type is well-known for high strength, good machinability, heat-treatable, and is commonly used in aerospace applications due to its high strength-to-weight ratio.

3xxx Series: The 3xxx series is an aluminum-manganese alloy, acknowledged for good formability, corrosion resistance, and moderate strength. It is widely used in construction, automotive, and other general applications.

5xxx Series: This segment is an aluminum-magnesium alloy, it has high strength, good corrosion resistance, and weldability. This is generally used in marine environments, automotive components, and structural applications.

6xxx Series: This alloy is a composition of aluminum-magnesium-silicon and is popular due to good formability, weldability, moderate strength, and excellent corrosion resistance, broadly used in architectural and structural applications, automotive components, and extrusions.

• By Application

Based on application the global market can be categorized into Packaging, Automotive, Trucks, & Ships, Building & Construction, Industrial, Aerospace, Tooling & Mold Blocks, Consumer Durables, and Foilstock.

These application categories highlight the versatility of aluminum across a wide range of industries. The specific alloy and form of aluminum used in each application vary based on the desired properties and performance requirements. As industries continue to innovate and address sustainability concerns, the use of aluminum in various applications is likely to evolve.

DRIVING FACTORS

"Escalating Demand from Automotive Sector to Amplify Market Growth"

The rising demand for the material in the automotive industry is one of the key driving factors of the aluminum rolled plate market growth. The automotive sector is a major consumer of aluminum, especially in the production of lightweight vehicles. Aluminum is used in components like body panels, chassis, and powertrain parts to reduce overall vehicle weight and improve fuel efficiency which is anticipated to lead the market development.

"Increasing Technological Advancements to Drive Growth of the Market"

Another driving factor is the development of aluminum processing technologies and manufacturing techniques that contribute to improved efficiency, reduced costs, and enhanced product quality. Innovations in rolling processes, alloy development, and surface treatments play a role in the market which will likely boost its growth.

RESTRAINING FACTOR

"Costs of Raw Material Can Obstruct Market Potential"

However, the cost and availability of raw materials, particularly bauxite and alumina, can impact the total cost structure of aluminum production which can be a restraining factor for the market growth. Therefore, changes in raw material prices can affect the profitability of aluminum producers and can reduce the potential growth of the market.

Aluminum Rolled Plate Market REGIONAL INSIGHTS

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"Asia Pacific is Likely to Lead the Market with Rapid Industrialization & Robust Manufacturing Sector"

The Asia-Pacific region is poised to lead the aluminum market due to its rapid industrialization, robust manufacturing sector, and substantial infrastructure development. Countries in the region such as China and India, boosting the demand for aluminum in applications ranging from automotive to electronics to building and infrastructure projects. China alone is expected to acquire the largest aluminum rolled plate market shares. In addition, the rise of electric vehicles and the growing middle class number of consumer also contribute to the sustained demand for lightweight aluminum in diverse industries.

KEY INDUSTRY PLAYERS

"Key Players Focus on Strategic Mergers and Acquisitions to Expand Market Reach"

Notable companies adopt various strategies to stay ahead of the market competition. They prioritize continuous innovation in both products and processes, introducing advanced technologies and enhancing their product portfolios to meet evolving market demands. Global expansion is a common strategy that allows them to establish a strong presence in international markets and capitalize on emerging opportunities. Strategic mergers and acquisitions also contribute to their growth by enabling access to new technologies and markets.

List of Market Players Profiled

• Novelis (U.S.)
• Arconic (U.S.)
• UACJ (Japan)
• Constellium (France)
• Chinalco (China)
• Mtalco (Canada)
• Kobelco (Japan)
• Nanshan (China)

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.