Aluminum Rolled Products Market worth $62.5 billion by 2025 | Major Players are Novelis Inc. (US), Constellium SE (France), Arconic Rolled Products Corporation (US), UACJ Corporation (Japan), and Norsk Hydro ASA (Norway)
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The 6xxx series grade is projected to lead the aluminum rolled products market during the forecast period
In 2019, the 6xxx series grade accounted for a larger share of the market and is also expected to grow at a highest CAGR during the forecastg period. This growth is attributed towards its properties such as Ultra-high tensile strength, coupled with the light weight of the 6xxx Series which enhances its usage in automotive & transportation industry.
The automotive & transportation industry is projected to be the major consumer of aluminum rolled products during the forecast period
Based on end-use industry, the global aluminum rolled products market is segregated into Automotive and Transportation (Automotive, Aerospace, Train and Ship building), Building and Infrastructure (Building Facades, Doors and Windows), Packaging, Consumer Durables, and Others. Other industries include machinery equipment, electricals & electronics, military equipment, tools & mould, and energy (windmills, et.c). Growth in automotive & transportation industry especially in developing countries such as China, India and others is expected to drive the growth of aluminum rolle products market. Automotive & transportation industry is also expected to register highest CAGR during the forecast period.
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Asia Pacific is projected to be the largest consumer of aluminum rolled products during the forecast period
Based on region, the aluminum rolled products market is segregated into Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Among these, the Asia Pacific accounted for the largest share in 2019 and is also expected to register highest CAGR during the forecast period. Availability of various large manufacturers such as UACJ Corporatation, coupled with growth in building & construction industry is expected to drive the growth of aluminum rolled products market in Asia Pacific.
Key players in the aluminum rolled products market, namely, Novelis Inc. (US), Constellium SE (France), Arconic Rolled Products Corporation (US), UACJ Corporation (Japan), and Norsk Hydro ASA (Norway) are considered for the study.
Novelis Inc. (US) is one of the leading players in the aluminum rolled products market and has been adopting inorganic strategies to sustain its market position. In April 2020, Novelis Inc., a world leader in aluminum rolling and recycling, completed its acquisition of Aleris Corporation, a global supplier of rolled aluminum products. As a result, Novelis is now even better positioned to meet increasing customer demand for aluminum by expanding its innovative product portfolio, creating a more skilled and diverse workforce, and deepening its commitment to safety, sustainability, quality, and partnership.
Arconic Rolled Products Corporation (US) is another major company in the aluminum rolled products market. It has been adopting inorganic strategies to sustain its position in the market. In February 2019, Arconic Rolled Products Corporation announced an investment of approximately USD 100.0 million into the expansion of its hot mill capabilities and addition of downstream equipment capabilities for the manufacture of industrial and automotive aluminum products in its Tennessee Operations facility near Knoxville, Tennessee, US. This investment added the capacity needed to meet the growing demand for industrial products and automotive aluminum sheets.
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