Aluminum Sheet Market to Witness Steady Growth through 2018-2028

Published: Fri Dec 14 2018

Aluminum Sheet is the most widely used form of aluminum which undergoes the process of transformation of the metal into flat pieces or thin sheets of aluminum metal. Aluminum sheets are produced by rolling ingots under specific pressure according to the desired thickness. Thickness of aluminum sheet is less than 6mm, also called as leaf or foil. Aluminum is one of the most widely used material for making sheets due to its cost effectiveness, ductility, and robustness. Aluminum can be easily moulded into various shapes, grades or in number of forms which has led to increased usage of aluminum sheets in different industrial application. Aluminum sheets are popularly used for industrial applications including aerospace (panel of planes), transportation-(auto panel body), packaging (can bodies) and construction (buildings). Aluminum sheets exhibit excellent anti-corrosion property and hence are widely being used for marine applications. Aluminum sheets are excellent option for industrial as well as structural application due to its high strength and flexible nature. The global aluminum sheet market is anticipated to grow at a moderate CAGR over the forecast period.

Increasing need of aluminum sheet withstanding extreme working condition such as extreme hot or cold is a driving factor for aluminum sheets. Aluminum sheets can withstand in extreme condition due to its properties - corrosion resistant, high strength, ductility, weldability. Aluminum material possesses unique property. It gains strength in cold weather becoming tougher. Thus, aluminum sheets are preferably used in extremely cold climatic conditions for storage tank.

Aluminum sheets finds its use across a number of end use industries such as packaging, transportation, building and construction amongst others.

With the growing stringent regulations pertaining to reduction in vehicle weight which will consequently cause reduction in the carbon emissions, is expected to boost the demand for aluminum sheets in the transportation industry, majorly automotive. This is attributed to the light weight and high strength provided due to the use of aluminum sheets. Due to high weldability property of aluminum, it can be formed into any shape and is thus highly used in the automobile industry as panel of vehicles like cars, tractor etc., and plays a vital parameter for increasing fuel efficiency in automobile sector. Use of aluminum in automobile reduces CO2 emission by 20%.

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Another major factor driving the demand for aluminum sheet is the rise in demand for packaged food. The changing lifestyle has resulted in change in eating habits which has led to significant growth of the packaged food industry. Aluminum sheet is widely being used for the production of tins, cans and other packaged food items. It is also being used to manufacture a number of consumer products such as utensils, foil etc.

Difficulty in recycling of laminated aluminum can turn out to be a restraining factor for global aluminum sheet market as components in laminated aluminum takes lengthy procedure to separate. Whereas metals like laminated steel or copper can be easily recycled as compared to aluminum. Fluctuating price of aluminum sheet can be another restraint for global aluminum sheet market.

Another major factor restraining the global demand for aluminum sheets is the use of alternative materials such as polymers and fibers for automotive components and body parts manufacturing. The increasing use of composite material is also projected to impede the global aluminum sheets market growth.

In terms of regional perspective, the global aluminum sheet market is anticipated to be dominated by Asia Pacific region. This is attributed to the large base for automotive production in the region. China and India are projected to hold relatively larger share in the global aluminum sheets market. North America and Europe are also projected to hold significant share in the global aluminum sheets market, this is attributed to the stringent regulations regarding emission and fuel efficiency in the automotive and aerospace sector which has caused rise in demand for lightweight aluminum made parts. Moreover, aluminum has also exhibited superior strength and corrosion resistance which has also caused a rise in demand. Latin America and Middle East and Africa are projected to witness relatively higher growth rates owing to the increasing investments in the automotive sector in the regions. Japan is projected to expand at a moderate growth rate over the forecast period.

Some of the market participants identified across the value chain of the global Aluminum sheet market are: Alcoa Inc., UACJ Co.,Ltd., Norsk Hydro ASA, Constellium, Zhejiang Hanlv Aluminum Industry Co. Ltd., Hangzhou Yonghong Nonferrous Metal Materials Co. Ltd., Shandong Sino Steel (Aluminum) Co. Ltd, Novelis Inc., Richard Austin Alloys, Cision Ltd. etc

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