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Aluminum Rolled Products: A Leading Driver Behind Surging Automotive Industry Demand Fuels Growth In Aluminum Rolled Products Market Market Expansion in 2025
Aluminum Rolled Products
What Will the Aluminum Rolled Products Industry Market Size Be by 2025?
The market size of aluminum rolled products has experienced significant growth in recent years. The market is projected to expand from $59.14 billion in 2024 to $63.21 billion in 2025, with a compound annual growth rate (CAGR) of 6.9%. Factors contributing to this growth during the historic period include increasing demand from several sectors such as packaging, automotive, aerospace, maritime, construction, printing, and electronics. Additionally, evolving consumer demands, government rules and regulations, long-term contracts for the provision of high-grade aluminum rolled products, and rising urbanization also play a crucial role.
What's the Long-Term Growth Forecast for the Aluminum Rolled Products Market Size Through 2029?
In the coming years, the aluminum rolled products market is anticipated to witness substantial growth, propelling it to an estimated $89.86 billion value by 2029 with an annual compound growth rate of 9.2%. The surge during the projected period is due to numerous factors like the implementation of strategies by leading companies, increased demand for aluminum rolled products, expansion of the automotive and transportation sector, and escalation in the electricals and electronics industry. Greater emphasis on recycling scrap* to get sustainable aluminum is also driving its growth. Significant trends to watch for during this time frame are concentration on a circular economy, the emphasis on lightweight materials in the transportation sector, architectural advancements, customization and formability, and digitalization within manufacturing processes.
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What Are the Key Growth Drivers Fueling the Aluminum Rolled Products Market Expansion?
The automotive industry's growing demand is anticipated to fuel the expansion of the aluminum rolled products market. Aluminum rolled products, used by the automotive sector for constructing vehicle frames and bodies, wheels, electric cabling, paint, lights, transmissions, air conditioning condensers, and tubing, are expected to surge in demand alongside the increase in vehicle production. For example, the European Automobile Manufacturers Association, a Belgium-based automobile manufacturing group, reported in May 2023 that global motor vehicle production went up to 85.4 million units in 2022, an impressive 5.7% rise compared to 2021. Similarly, the UK-based brand valuation firm Brand Finance plc revealed in February 2022 that the automobile industry saw approximately 78 million unit sales in 2022, a significant 10% growth. This mounting demand for automobiles is a powerful driving force for the aluminum rolled products market's growth.
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What Are the Key Trends Driving Aluminum Rolled Products Market Growth?
The aluminum rolled product market is increasingly being influenced by a key trend of product innovations. Essentially, product innovation involves introducing a fresh or an enhanced version of an existing product. Illustratively, in December 2022, National Aluminium Company Limited (NALCO), an Indian Navratna CPSE producer of aluminum and alumina, unveiled its Aluminium LED Cap stock in Alloy AA1100 with a H12 temper, ready for distribution in coil form. This item has been uniquely designed for creating aluminum caps used in the manufacture of LED bulbs and serving as heat sinks. Thanks to aluminum's superb heat-dissipating qualities, and the robust conductivity of the Alloy AA1100, it is extremely suitable for LED bulb covers.
How Is the Aluminum Rolled Products Market Segmented?
The aluminum rolled products market covered in this report is segmented -
1) By Product: Foil, Plate, Sheet
2) By Grade: 1xxx* Series, 3xxx* Series, 5xxx* Series, 6xxx* Series
3) By End User: Automotive and Transportation, Building and Infrastructure, Packaging, Consumer Durables, Other End-Users
Subsegments:
1) By Foil: Household Foil, Food Packaging Foil, Pharmaceutical Foil
2) By Plate: Thick Aluminum Plate, Thin Aluminum Plate, Specialty Plates
3) By Sheet: Standard Aluminum Sheet, Anodized Aluminum Sheet, Coated Aluminum Sheet
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Which Companies Are Leading the Charge in Aluminum Rolled Products Market Innovation?
Major companies operating in the aluminum rolled products market include 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
Which Regions Are Leading the Global Aluminum Rolled Products Market in Revenue?
Asia-Pacific was the largest region in the aluminum rolled products market in 2024. The regions covered in the aluminum rolled products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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