Global Aluminum Flat Products Market Ascends at a Noteworthy CAGR of 4.65%

Introduction

The Global Aluminum Flat Products Market size was valued at $ 60.09 billion in 2021, and is projected to reach $ 88.62 billion by 2030, registering a CAGR of 4.65 % from 2022 to 2030.

The production of cans, vehicle bodywork, foils, and machinery and equipment relies significantly on flat aluminium products, which are frequently processed using flat rolling techniques. The global market for flat aluminium products is anticipated to be driven by the automotive industry's growing desire for lightweight components, which increases the need for flat aluminium products. The process of flat rolling turns a slab of aluminium ingot into a thinner product or a plate, resulting in aluminium flat goods. The widespread use of aluminium flat items in the production of cans, foil, car bodywork, and equipment & machinery may stimulate market demand. As the metals are easily shaped into unique cross-section shapes, fabricating these rolled goods is a cost-effective process that permits a greater output of most products.

There are numerous applications for aluminium flatware, including cookware, packaging, closures, building interiors and exteriors, roofs, and home electronics. Other types of packaging have a lower recycling rate than aluminium cans and other flat metal products. They are lightweight, stackable, and sturdy, allowing businesses to package and transport more beverages with fewer resources. Due to its maintenance-free and corrosion-resistant properties, rising demand in the construction industry may support the growth of the market for flat aluminium goods. Due to the uncommon combination of aluminium's strength and lightness, frames, sashes, and fittings can be small and unobtrusive. In addition, the bars do not need to be painted, and their dimensional strength ensures years of operation without problems. The construction industry's use of aluminium has no negative impact on indoor air, soil, or water quality.

Market Dynamics

Aluminium's increasing use in car construction:

Aluminium's capacity to be manufactured into lightweight components is projected to be a significant growth factor for the market. Not only are aluminium and its various alloy products lightweight, but they also contain qualities such as corrosion resistance, flexibility, and high strength. Despite the softness of their aluminium, these flat objects exhibit excellent flexibility and rigidity when the temperature drops. In end-use industries such as the automotive, aerospace, and construction industries, the lightweight features of flat aluminium products are anticipated to aid in decreasing carbon footprints, lowering costs, and developing more durable and corrosion-resistant products.

Reduce the weight of vehicles and aircraft:

The increasing use of aluminium flat products to lower the weight of cars and aircraft has propelled the market growth. Greenhouse gas emission reduction goals are being met by producing fuel-efficient vehicles that meet regulatory requirements. Aluminium's substitution for steel and iron is anticipated to boost market growth during the forecast period. The key growth driver for the global aluminium flat-rolled products market is the rising demand for these products in the packaging and automotive industries. The rising use of aluminium flat-rolled products in the packaging sector due to the expanding use of flexible foil-based packaging in the food & beverage industry is anticipated to be the primary factor driving the global market's expansion. In addition, the rising demand for aluminium foils in medical packaging is predicted to contribute to the rise of the global market over the next few years. Similarly, the increased demand for aluminium flat-rolled products in the automotive sector for the development of lightweight, fuel-efficient automobiles is expected to add to the rise of the global market.

The construction and building industry:

In the coming years, producers of aluminium flat-rolled products predict that the building and construction industry will be a lucrative market for their wares. Aluminium flat-rolled products are widely employed in the construction of commercial buildings. This is because these goods let the production of intricate shapes on long, continuous lengths of material and can be utilised for various other building materials. These mechanical components ensure that the facade can endure wind pressure, the weight of other components, and the ability to adjust any structural movement.

Regional analysis of the Global Aluminum Flat Products Market 

In 2021, the Asia Pacific region held the most crucial market share in revenue, equivalent to 72.8 % of the market. From 2022 to 2030, it is expected that Asia Pacific will achieve a compound annual growth rate (CAGR) of 5% based on revenue. The market in this area is being pushed by several critical factors, the most important of which are the rising demand for high-end automobiles, the rising production of motor vehicles, and the technological advancements in the production of vehicles. It is projected that there will be a rise in demand for flat objects manufactured of aluminium during the following several years. This is because most customers place a high value on security and ease of use in their purchasing decisions.

In 2021, North America held 7.9 % of the market share in terms of volume. Aluminium consumption in the automotive industry in the region is likely to increase over the next few years due to consumer preferences for higher-quality and more fuel-efficient motor vehicles and stringent CAFÉ regulations to improve the fuel economy of vehicles. These factors are predicted to donate to a growth in the region's overall aluminium consumption. Both of these considerations aim to enhance the overall fuel economy of cars. It is anticipated that prominent market participants will increase their production capacities, increasing the demand for flat goods manufactured of aluminium in Europe. For example, Constellium N.V. invested 202 million US dollars so that its facility in Neuf-Brisach, located in France, could implement a new process for producing aluminium smelting. This was done to increase production capacity. This decision was made to fulfil the continuously growing demand for flat products manufactured of aluminium for applications using body sheets.

Key highlights 

• The Global Aluminum Flat Products Market was valued at $ 60.09 billion in 2021, and is projected to reach $ 88.62 billion by 2030, registering a CAGR of 4.65 % from 2022 to 2030.
• Volume-wise, aluminium plates represented 43 % of the market in 2021.
• In 2021, the building and construction application segment held a 39 % volume share.
• The Asia Pacific held the most significant market share in revenue in 2021, with 72.8 % of the market. It is anticipated that Asia Pacific will experience a revenue-based CAGR of 5 % from 2022 to 2030.

Competitive Players

1. Norsk Hydro
2. Hindalco
3. Aleris Corporation
4. UAJC Corporation
5. Novelis
6. Arconic
7. Evonik Industries AG
8. Alnor Oil Co Inc
9. KRATON CORPORATION
10. BASF SE
11. Cargill
12. Incorporated
13. Eastman Chemical Company
14. Procter & Gamble
15. Evonik Industries
16. Godrej
17. PPG Industries Inc.
18. Emery Oleochemicals
19. PTT Global Chemical Public Company Limited
20. Jet-Hot Inc.
21. ICD High Performance Coatings
22. SPI Performance Coatings
23. EverCoat Industries Sdn Bhd

Recent Developments

• July 2022- Hydro is extending the subscription period for proposed acquisition of Alumetal S.A.
• July 2022- Hydro’s aluminium recycling plant in Rackwitz to serve automotive customers with more post-consumer aluminum.
• May 2022- Novelis' First Green Bond Report Highlights $140 Million Allocated to Increase Recycling Capacity, Reduce Usage of Primary Aluminum.
• July 2022- Evonik introduces TEGO Dispers 658 sustainable dispersing additive.

Segmentation

1. By Product
   1. Plates
   2. Sheets
2. By Application
   1. Building & Construction
   2. Automotive & Transportation
   3. Consumer Goods
   4. Electrical & Energy
   5. Others