Aluminum Flat-Rolled Products Market Size was valued at USD 39.47 Billion in 2023. The Aluminum Flat-Rolled Products industry is projected to grow from USD 42.34 Billion in 2024 to USD 69.15 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 7.26% during the forecast period (2024 - 2032). Growing aerospace & automotive industries and rising consumption in the packaging sector are the key market drivers which is driving the market's expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for aluminum flat-rolled products is being driven by the rising adoption from end-use industries. Thick aluminum slabs are rolled between steel rolls to reduce thickness before being extended using hot and cold rolling methods to achieve the desired final thickness to create aluminum flat-rolled goods. The two main categories of aluminum flat-rolled products—cold rolling and hot rolling—are based on their manufacturing techniques. Each has a unique set of traits and advantages, and a particular industry welcomes them all.
Due to its corrosion resistance and lack of maintenance requirements, the industry may experience a surge in demand. Manufacturers try to increase innovation in their product offerings in order to compete in the market. Government policies encouraging the use of lightweight metals in automobiles have raised the market value of aluminum flat-rolled products due to their distinctive combination of lightness and strength. The most important growth element for these products is the rising demand for them in packaging and automotive applications. In addition, the market expansion for aluminum flat-rolled products is anticipated to be fueled by the increasing demand from end-use industries, technological developments in the aluminum sector, and enhanced driving dynamics.
One of the market development factors for aluminum flat-rolled products that is expanding the fastest is the rising demand for these products in the automobile industry. Growing demand for public transit, including metro trains, bullet trains, buses, and other industrial vehicles, results in increasing use of these goods, which helps to maintain the automobile’s lightweight. These elements are expected to drive the market expansion of aluminum flat-rolled products. The market will have much potential to expand as a result of the significant growth in demand for recycled and value-added aluminum products as well as the development in aluminum demand in emerging nations.
Market participants have been taking essential actions to enhance the items' accuracy and general functionality. With the aid of contemporary technologies, the major producers of aluminum flat-rolled products are aiming to create new aluminum products that are more aesthetically pleasing. Further emphasizing quality and service while making sure to satisfy customers' demands and expectations, market participants. Thus, driving the Aluminum Flat-Rolled Products market revenue.
The Aluminum Flat-Rolled Products market segmentation, based on product type includes plates, sheets, standard GEQ, circles, foil stock, can stock, and fin stock. During the projection period, it is anticipated that the category for foil stock would expand at a significant rate due to rising customer demand for simple, lightweight packaging, secure product packaging, and products with longer shelf lives. Due to their insulation qualities, such as resistance to light, oxygen, and moisture, these foil stocks are also used in the pharmaceutical industry. By protecting the drugs from contamination and deterioration and by providing greater patient security, these properties are ultimately driving the market for aluminum flat products.
The Aluminum Flat-Rolled Products market segmentation, based on the end-use Industry, includes building & construction, automotive & transportation, consumer goods, electrical & electronics, industrial, and packaging. Due to the lightweight nature of aluminum flat goods, which improves fuel efficiency by using less energy to move the vehicle, its use in the automotive & transportation category is anticipated to rise over the next few years. The market for aluminum flat products is anticipated to expand more quickly than average over the course of the forecast period as a result of factors such as the rising demand for public transportation, including metro trains, buses, bullet trains, and other industrial transportation vehicles, which use these products to increase efficiency. Another factor is the use of aluminum sheets in fuel tanks, which prevents corrosion and chemical reactions with external materials.
Figure 1: Aluminum Flat-Rolled Products Market, by End-Use Industry, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The Asia Pacific Flat-Rolled Products market area will dominate this market, because there is a growing demand for aluminum flat-rolled products from a variety of end-user industries, including the aerospace and defense sectors, and because urbanization is expanding quickly and construction activity is increasing. In addition, the growing number of established health clubs and fitness facilities will boost market growth in this region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: ALUMINUM FLAT-ROLLED PRODUCTS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe’s Aluminum Flat-Rolled Products market accounts for the second-largest market share because of firms' increasing production capacities and the significant demand for flat-rolled aluminum goods. Further, the German Aluminum Flat-Rolled Products market held the largest market share, and the UK Aluminum Flat-Rolled Products market was the quickest-growing market in the European region
The North America Aluminum Flat-Rolled Products Market is expected to expand at the quickest CAGR from 2023 to 2032. This is due to the growing demand for aluminum from the automotive industry. Moreover, China’s Aluminum Flat-Rolled Products market held the largest market share, and the Indian Aluminum Flat-Rolled Products market was the quickest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Aluminum Flat-Rolled Products market, grow even more. Market players are adopting various strategies to extend their footprint, with important market developments including new product developments, contracts & agreements, mergers & acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Aluminum Flat-Rolled Products industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Aluminum Flat-Rolled Products industry to benefit clients and increase the market sector. In recent years, the Aluminum Flat-Rolled Products industry has offered some of the most significant advantages to medicine. Major players in the Aluminum Flat-Rolled Products market, including Hindalco Industries Limited (India), Alcoa Corporation (US), Constellium (The Netherlands), Norsk Hydro ASA (Norway), Aluminum Corporation of China (Chalco) (China), Arconic (US), NALCO (India), UACJ Corporation (Japan), Elvalhalcor Hellenic Copper, Aluminum Industry S.A. (Greece), JW Aluminum (US), and others, are attempting to increase market demand by investing in research and development operations.
Aluminum is produced and exported by National Aluminum Co Ltd (NALCO). It conducts bauxite mining, alumina refining, Aluminum smelting and casting, power production, rail, and port operations. The company's main goods include chemicals and metals made of Aluminum. It runs bauxite mining in the Koraput district of Odisha's Panchpatmali Hills, an alumina refinery at Damanjodi, an Aluminum smelter, and a 1200 MW captive power plant in Angul. Additionally, it runs four wind farms: a 50.4 MW wind farm in Gandikota, Andhra Pradesh; a 47.6 MW wind farm in Ludarva, Jaisalmer, Rajasthan; a 50 MW wind farm in Devikot, Jaisalmer, Rajasthan; and a 50.4 MW wind farm in Jath, Sangli, Maharastra. In December 2021, The share price of National Aluminum Company increased by 5.77%. The Department of Revenue, Ministry of Finance, Government of India stated in a notification dated December 6, 2021 that the dumping margin for the subject goods from the subject country is positive and important in the case of certain flat rolled Aluminum products originating in or exported from China. The ministry claims that the domestic industry has been materially harmed as a result of the dumping of Chinese goods.
Manufacturers and distributors of specialised rolled and extruded Aluminum products include Constellium SE (Constellium). Packaging, automotive rolled goods, aerospace, transportation, defence, end markets, automotive structures, and industrial items are all available. The business produces plates and sheets for the aerospace industry, as well as wing skins, general engineering plates, transportation sheets, packaging, and automotive rolled goods. Constellium also makes extruded items including automobile frames, huge profiles, and soft and hard alloys. In January 2023, Constellium SE and Daher have a multi-year agreement under which the latter will receive a variety of flat-rolled Aluminum products from Constellium SE's factory in Issoire, France. In particular, the TBM and Kodiak versions of light aircraft will employ the Aluminum. Constellium can increase its customer base in the commercial and regional planes industry by joining Daher as a strategic Aluminum supplier.
November 2020: Alcoa Corporation announced a deal with Kaiser Aluminum Corporation to sell its rolling mill operations, which are currently owned by Alcoa Warrick LLC, for a total price of about $670 million.
July 2022: The Board of Directors of Steel Dynamics, Inc. approved the company's request to build and run a 650,000-ton low-carbon, recycled Aluminum flat-rolled mill with two auxiliary satellite recycled Aluminum slab centers. Commercial production is anticipated to start in the first quarter of 2025, with an estimated capital investment of $2.2 billion for the three sites.
| Report Attribute/Metric | Details |
| Market Size 2023 | USD 39.47 Billion |
| Market Size 2024 | USD 42.34 Billion |
| Market Size 2032 | USD 69.15 Billion |
| Compound Annual Growth Rate (CAGR) | 7.26% (2024-2032) |
| Base Year | 2023 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product Type, End-Use Industry, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Hindalco Industries Limited (India), Alcoa Corporation (US), Constellium (The Netherlands), Norsk Hydro ASA (Norway), Aluminum Corporation of China (Chalco) (China), Arconic (US), NALCO (India), UACJ Corporation (Japan) |
| Key Market Opportunities | Growing automotive and aerospace industries. |
| Key Market Dynamics | Rising adoption across various end-use industries. |
Aluminum Flat Rolled Products Market Highlights:
Frequently Asked Questions (FAQ) :
The Aluminum Flat-Rolled Products Market size was valued at USD 39.47 Billion in 2023.
The Aluminum Flat-Rolled Products Market is projected to grow at a CAGR of 7.26% during the forecast period, 2024-2032.
Asia Pacific had the largest share in the Aluminum Flat-Rolled Products Market.
The key players in the Aluminum Flat-Rolled Products Market are Hindalco Industries Limited (India), Alcoa Corporation (US), Constellium (The Netherlands), Norsk Hydro ASA (Norway), Aluminum Corporation of China (Chalco) (China), Arconic (US), NALCO (India), UACJ Corporation (Japan).
The foil stock category dominated the Aluminum Flat-Rolled Products Market in 2023.
The automotive & transportation had the largest share in the Aluminum Flat-Rolled Products Market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
