Aluminum rolled products market is anticipated to grow at a CAGR of 6.4% during the forecast period. The global aluminum rolled products market growth is driven by major factors such as the rising adoption of aluminum rolled products in the end-user sectors owing to its high degree of conductivity, strength, extreme resistance to corrosion, and others. In addition, the rising adoption of aluminum rolled products in foil and packaging, food and beverages, and building and construction industries is further projected to increase its scope on a wider level in upcoming years. Apart from these factors, increasing R&D activities to produce innovative and cheaper aluminum products, and rapid urbanization will boost the market growth. Rising demand from the automotive industry is expected to propel the growth of aluminum-rolled products. Aluminum rolled products are being used in the manufacturing of vehicle frames and body parts. The increased vehicle production is one of the prominent factors that has propelled product demand. For instance, according to Association des Constructers Europeans d’Automobile's, in 2021, 79.1 million motor vehicles were produced globally, an increase of 1.3% compared to 2020.
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Moreover, the presence of prominent market players and strategies adopted by them also assist in market expansion. For instance, in April 2020, Hindalco Industries Limited acquired Aleris Corp for $2.8 billion. Through this acquisition, Hindalco and Novelis aim at diversifying their metals downstream portfolio into the aerospace market. Furthermore, strict laws of government for carbon emission will boost the growth of the aluminum rolled products market.
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Segmental Outlook
The global aluminum rolled products market is segmented based on grade and end-user industry. Based on grade, the market is sub-segmented into 1xxx series, 3xxx series, 5xxx series, 6xxx series, and others. Similarly, based on the end-user industry, the market is subdivided into automotive and transportation, aerospace and defense, building & infrastructure, packaging, consumer durables, and others. Among these, the aerospace and defense segment is anticipated to hold a significant market share in the market during the forecast period. The segment growth is attributed to the growing demand from aircraft manufacturers due to its lightweight and strong. It also allows an aircraft to carry more weight and or become more fuel efficient. This is the major reason the demand for aluminum rolled products in the aerospace industry is growing.
Regional Outlook
Geographically, the global aluminum rolled products market is classified into four major regions including North America (the US and copyright), Europe (UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and Rest of the World (Latin America and the Middle East and Africa (MEA)). Among these, the North American region dominated the market and accounted for the highest market share in 2021. The regional growth is attributed to the increasing automotive industry, improving demand for fuel-efficient and lightweight automobiles, and stringent government regulations on carbon emissions.
By Grade (1xxx Series, 3xxx Series, 5xxx Series, 6xxx Series, and Others),
By End-User Industry (Automotive and Transportation, Aerospace and Defense, Building & Infrastructure, Packaging, Consumer Durables, and Others)
Market Players Outlook
The major market players in the global aluminum rolled products market include Hindalco Industries, Ltd., Norsk Hydro ASA, Arconic Corp., Constellium SE, Alcoa Inc., AMAG Austria Metall AG, Hulamin, UACJ Corp. and others. The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in February 2019, Arconic Rolled Products Corp invested $100 million into the expansion of its hot mill capabilities and the addition of downstream equipment capabilities for the manufacture of industrial and automotive aluminum products.
The Report Covers
Market value data analysis of 2021 and forecast to 2028.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global aluminum rolled products market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.
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