Aluminum Plate Market Scope
Aluminum plates are made of aluminum ingot rolling rectangular plate, divided into pure aluminum, aluminum alloy, diamond aluminum plate, and many others. The aluminum is passed through roll under pressure to make it thinner and longer, this is the basic process for producing aluminum sheets, plates, and foil. The aluminum plates are widely used in aerospace, transportation, packaging and construction purposes. The growth in the automotive and construction sector is increasing the global aluminum plate market. However, the stringent regulatory policies and its price fluctuations can be the market hindrance.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Largest Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Arconic (United States), Constellium SE (Netherlands), Aleris Corporation (United States), Hulamin (South Africa), Aluminum Corporation of China Ltd (CHALCO) (China), Kaiser Aluminum (United States), Novelis Inc. (United States), UACJ Corporation (Japan), Mitsubishi Aluminum Co., Ltd (Japan), Amimex (Germany) and Nippon Light Metal Holdings Co., Ltd (Japan) |
CAGR | % |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Aluminum Plate market throughout the predicted period.
Arconic (United States), Constellium SE (Netherlands), Aleris Corporation (United States), Hulamin (South Africa), Aluminum Corporation of China Ltd (CHALCO) (China), Kaiser Aluminum (United States), Novelis Inc. (United States), UACJ Corporation (Japan), Mitsubishi Aluminum Co., Ltd (Japan), Amimex (Germany) and Nippon Light Metal Holdings Co., Ltd (Japan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Henan Mingtai Al.Industrial Co., Ltd (China) and Rusal (Russia).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Aluminum Plate market by Type , by Application (Aerospace and Transportation (Body Sheet), Packaging (Can Bodies and Ends), Construction (Building Facades) and Others) and Region with country level break-up.
On the basis of geography, the market of Aluminum Plate has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Asia Pacific region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
For instance, in March 2021, Alcoa corporation announced that it will supply sustainable aluminum for the wheels on the Audi e-Tron GT. The vehicle would be the first-ever to use the metal that is made from a technology that eliminates carbon dioxide emissions from the smelting process. Alcoa is supplying aluminum to RONAL GROUP to support the manufacturing of Audi e-Tron GT’s high-performance alloy wheels. The wheels are produced with a combination of metal from the ELYSISTM and EcoLum™, Alcoa’s low-carbon aluminum brand.
In May 2018 Aleris signed a multi-year agreement with Boeing to supply its aluminum plates and sheets for the production of various airplanes. With this agreement, Aleris is aiming to capture the maximum airplane manufacturing market across the globe
"Canada's Department of Finance (Finance) is introducing additional changes to ensure that imports of aluminum and steel into Canada do not increase beyond historical levels. Beginning September 1, 2019, certain aluminum products face additional monitoring, as a result of being added to the Import Control List under the Export and Import Permits Act. Aluminum import shipments into Canada must cite a certain permit (i.e., a General Import Permit) on CBSA import declarations. This change is intended to alert Canada as to whether a global oversupply of aluminum is making its way into the country."
Influencing Trend:
Innovation and Technical marketing is Increasing the Demand for Aluminum Plates and Use of Aluminum Plates in Packaging and Labeling
Market Growth Drivers:
Growing Automotive and Airspace Sector and Increasing Demand for Aluminum Plates in the Construction Industry
Challenges:
Price Fluctuations of Aluminum Plates
Restraints:
Risk of Corrosion and Damage of Aluminum Plate Due to Extreme Environmental Conditions and Regulatory Policies Might Impact the Market
Opportunities:
Research and Development in the Metal Industry and Advancement in the technology used in the Production of Aluminum Plates
Key Target Audience
Aluminum Plate Manufacturers, Aluminum Plate International Traders, Aluminum Plate Distributors and Suppliers, Research and Development Institutes, Regulatory Bodies, Upstream and Downstream Buyers and Others