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Aluminum Rolled Products Market Share, Growth Analysis And Revenue Forecast 2024 To 2033
Aluminum Rolled Products Market
As per the report, the aluminum rolled products market size has grown strongly in recent years. It will grow from $55.86 billion in 2023 to $59.98 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The aluminum rolled products market size is expected to see strong growth in the next few years. It will grow to $81.9 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.
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Surging Automotive Industry Demand Fuels Growth In Aluminum Rolled Products Market
Rising demand from the automotive industry is expected to propel the growth of aluminum rolled products market. The automotive industry uses aluminum rolled products for the vehicle frame and body, wheels, electrical wiring, paint, lamps, transmission, air conditioner condenser, and pipes. As there is an increase in the demand for automotive it will drive the aluminum rolled products industry. For instance, in May 2023, according to the European Automobile Manufacturers Association, a Belgium-based automobile manufacturers association, in 2022, the global production of motor vehicles reached 85.4 million units, reflecting a notable increase of 5.7% compared to 2021. Furthermore, in February 2022, according to Brand Finance plc, a UK-based brand valuation company, in 2022, the automobile sector achieved approximately 78 million unit sales, marking a substantial 10% increase. Therefore, the rising demand from the automotive segment drives the growth of the aluminum rolled products market .
Innovative Advancements In Aluminum Rolled Products
Product innovations are a key trend gaining popularity in the aluminum rolled product market. Product innovation is the creation or introduction of a new good or launching the improved version of a previous good. For instance, in 2021, Novelis Inc., a US-based s producer of rolled aluminum, introduced the generation II of its aluminum-intensive battery enclosure for electric vehicles. The advanced aluminum-sheet-intensive reduces the weight and cost of the battery and it offers higher pack energy density compared to other electric vehicle battery enclosures. The new aluminum-intensive battery enclosure with advanced cell-to-pack modular architecture offers a best-in-class frame mass efficiency of below 1.0 kg/Kwh and a 30% improvement in energy density.
The aluminum rolled products market covered in this report is segmented -
1) By Product: Foil, Plate, Sheet
2) By End User: Automotive and Transportation, Building and Infrastructure, Packaging, Consumer Durables, Other End-Users
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Major companies operating in the aluminum rolled products market report are Novelis Inc., Constellium SE, Arconic Rolled Products Corporation, Aleris Corp., Hulett Aluminium (Pty) Limited, Hindalco Industries Ltd., AMAG rolling GmbH, Alcoa Inc., Kaiser Aluminum Corp., JW Aluminum Continuous Cast Company, Viohalco SA, Granges AB, Impol Aluminum Corp., Bharat Aluminium Company Ltd., Laminazione Sottile SpA, Jindal Aluminium Limited, Century Aluminum Co., Tri-Arrows Aluminum Inc., Logan Aluminum Inc., Norsk Hydro ASA, Hydro Extrusion North America LLC, United Aluminum Corporation, Aluminum Corporation of China Limited, China Hongqiao Group Limited, China Zhongwang Holdings Limited, United Company RUSAL Plc, Emirates Global Aluminium, Gulf Aluminium Rolling Mill Company, Bahrain-based Gulf Aluminium Rolling Mill Company, Aluminium Bahrain BSC, Hindustan Zinc Limited, Vedanta Limited
Contents of the report:
1. Executive Summary
2. Aluminum Rolled Products Market Report Structure
3. Aluminum Rolled Products Market Trends And Strategies
4. Aluminum Rolled Products Market - Macro Economic Scenario
5. Aluminum Rolled Products Market Size And Growth
…..
27. Aluminum Rolled Products Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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