Reports Description
According to Custom Market Insights (CMI), The Global Aluminium plates and sheets Market Size was valued at USD 170.34 billion in 2021 and is estimated to reach USD 250.3 billion by the end of 2030 at a CAGR of approximately 5.8% during the forecast period 2022-2030.
Aluminum oxide, commonly known as alumina, is a crystalline compound extracted from bauxite. The compound has extensive properties, due to which it is used to produce anti-corrosion materials, resistance, wear, abrasion parts, etc. Aluminum plates are widely used in numerous industries due to their durability, recyclability, lightweight property, etc.
The lightweight nature of the aluminum allows it to be beaten from different shapes that can be used for multiple purposes. In nature, aluminum is found within the earth’s crust in the form of silver-white ductile metal. The metal is extracted and processed as per the different requirements. The aluminum metal surface is layered with a wide range of surfaces and then welded and shaped to be used for different industrial applications. For instance, aluminum is used in the aeronautics industry to form spacecraft fuel tanks and the outer body of jets. The aluminum alloy can remain lightweight as well as tolerate extremely cold temperatures.
Growth Factors
The increase in demand for aluminum plates and sheets in different sectors propels the aluminum plates and sheets market.
Aluminum plates are widely used in automotive industries for making car parts, mechanical headways, etc., due to which the demand for aluminum sheets has increased in the market in various ventures, including building and construction, aeronautic trade, automotive, etc.
The rapid consumption of aluminum items and the development in R&D activities enhance the market growth for aluminum plates and sheets.
Along with the rapid innovation in the research and development activities, the makers tend to develop high-quality steel products with a unique design structure with the properties like lightweight, corrosion resistant, sustainable, and cost-effective products that have led to the high demand for aluminum sheets among different ventures.
The gradual shift of the automotive sector towards aluminum sheets is anticipated to propel the market.
The automotive sector has focused on developing lightweight vehicles, widely preferred across the market. The lightweight and anti-corrosion properties of aluminum sheets and plates have led to their high demand among the automotive industries, which serves as the primary factor for the growth of the aluminum market.
The increased consumption of tenderized and ready-made foods is likely to propel the market for aluminum sheets.
The improvisation in lifestyle has led to the huge consumption of ready-to-eat foods, enhancing the aluminum sheets’ market value. These sheets are wide as wraps to preserve the foods and their freshness for a long time and prevent them from being cold. Such factors are likely to propel the market growth in the forecast period.
Aluminium Plates Market Alumina Segmentation
The aluminum plate market is segmented on the series type, processing method, Application, and geography.
Market segmentation based on series Type
The series 1 type of aluminum segment has dominated the aluminum sheets market in 2021 and is projected to witness significant growth during the forecast period. This can be attributed to the increase in demand for series 1 type aluminum for manufacturing different types of products, including chemical equipment, sheets, foils, drawn tube, metal table wear, etc. The series 1 type of aluminum contains almost 99% aluminum metal, while in the other series, the other types of metals are also mixed as an alloy. The series 1 type of aluminum has features like high purity, good electrical conductivity, good welding performance, and good corrosion resistance, which is widely used in chemical industries.
Market segmentation based on processing Method
Based on the processing method, the market is segmented into flat-rolled castings, extrusions, forgings, pigments, and powder, rods, and bars. The extrusion segment has held the largest market share of 31.3% in 2021 and is expected to dominate the market during the forecast period. This can be attributed to the huge demand for aluminum extrusion products used in automobile industries for radiators, air conditioners, audio-visual systems, nuclear reactors, etc.
Market segmentation based on Application
Based on the Application, the aluminum plates and sheets market is segmented into mechanical engineering or mold, aerospace and defense, railway and shipping industry, food and beverage, transport, construction and building, and others. Regarding revenue, the transport segment dominated the aluminum market in 2021, which currently owns 37.8% of the aluminum market share. It is further expected to witness significant growth during the forecast period. This growth can be credited to the increase in demand for motor vehicles globally, which leads to an increase in the value of the aluminum market. Aluminum sheets are used to make different car parts due to their lightweight and anti-corrosion properties.
Aluminum is mostly preferred by the automobile industries and among commercial vehicles for different parts, including car parts, steering, wheel, etc. They provide extensive properties such as high durability, reduced emission, and safety and are 100% materials that even retain the actual property after being recycled. Aluminum can be easily mixed with other materials to make different parts corrosion-free and cost-effective. Also, lightweight vehicles do not need high energy for their movement. This results in reduced CO2 emission, which supports the environment.
Report Scope
| Feature of the Report | Details |
| Market Size in 2021 | USD 170.34 billion |
| Projected Market Size in 2030 | USD 250.3 billion |
| CAGR Growth Rate | 5.8% CAGR |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Prominent Players | Kaiser Aluminum, Alcoa, Nippon Light Metal, Kobelco, Furukawa-Sky, Alex, Constellium, KUMZ, Chalco, and Others |
| Key Segment | By Series (Series 1, Series 2, Series 3, Series 4, Series 5, Series 6, Series 7, Series 8), by Application (Buildings & Construction, Transport, Consumer goods, Electrical engineering, Foil and packaging, Machinery, and equipment, Other), By Processing Method (Flat-rolled, Castings, Extrusions, Forgings, Pigments & Powder, Rods & Bar), and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors, and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfill your requirements for research. |
Regional Insights
Based on the region, the aluminum market is distributed across North America, Asia-Pacific, Europe, and LAMEA. The Asia Pacific dominated the aluminum market in 2021, which stood at USD 105.5 billion. The market is projected to expand during the forecast period with a significant increase in the CAGR rate. This can be attributed to the high production and consumption capacities due to the industrial settlements and increased consumer base. Countries like India, China, and Japan largely contribute to the market expansion as per the high demand for aluminum plates across different industries, including construction, consumer and packaging, aircraft and automotive, etc.
Furthermore, the increase in population across such regions has led to a large consumer base for aluminum and a rise in disposable income. The expansion of various industries and the increase in construction and building activities across such regions have propelled the aluminum market. The high demand for automobiles due to the increase in population and the cost-effective production of vehicle parts made of aluminum boosts the market growth of aluminum across APAC.
Key Players
Kaiser Aluminum
- Alcoa
- Nippon Light Metal
- Kobelco
- Furukawa-Sky
- Alimex
- Constellium
- KUMZ
- Chalco
Impact of Covid-19 on Aluminum Plates and Sheets Market
The occurrence of a pandemic with the widespread covid infection had led to restrictions in mobility and resulted in a restricted workforce which had a negative impact on various types of industries across the globe. The aluminum plate market was among them that suffered during the pandemic era.
The demand for aluminum gradually decreased due to the temporary shutdown and the imposed lockdown, which halted the aluminum market growth. Apart from that, high costs along with the installation and maintenance of the machines also contributed to hampering the aluminum market at the time of the pandemic.
Recent Developments in the Aluminum Plates and Sheets Market
- On June 23, 2020, Constellium SE launched advanced aluminum-based products to increase its product portfolio. The developed products are expected to meet the standard industry demands regarding productivity and component properties.
- In July 2020. UC RUSAL announced the transition of the Krasnoyarsk Aluminium Smelter into Ecosoderberg technology. Their collaboration was meant to construct approx. 1954 reduction cells. Approx USD 74 million was spent on the implementation of the project.
- In April 2020, Novelis, a subsidiary of the Hindalco industries, overtook a global supplier of rolled aluminum, named Aleris Corporation, to strengthen its position in the market as well as for enhancing its product portfolio. The acquisition resulted in the integration of complementary assets including recycling, casting, rolling, and other respective capabilities. The merger and acquisition are likely to meet the product demand.
Market segments covered in the report
By Series
- Series 1
- Series 2
- Series 3
- Series 4
- Series 5
- Series 6
- Series 7
- Series 8
By Application
- Buildings & construction
- Transport
- Consumer goods
- Electrical engineering
- Foil and packaging
- Machinery and equipment
- Other
By Processing Method
- Flat-rolled
- Castings
- Extrusions
- Forgings
- Pigments & Powder
- Rods & Bar
By Region
- North America
- The U.S.
- Canada
- Mexico
- Asia-Pacific
- China
- India
- Australia
- South Korea
- Japan
- Rest of Asia
- Europe
- France
- Germany
- Italy
- The UK.
- Spain
- Rest of Europe
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Turkey
- UAE
- Rest of LAMEA
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