Aluminum Sheet Market
Aluminum Sheet Market Study by Cold Rolling and Hot Rolling Process in Automotive, Building & Construction, Aerospace & Defense, Packaging, Medical, and Consumer Products From 2024 to 2034
Analysis of Aluminum Sheet Market Covering 30+ Countries including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Aluminum Sheet Market Outlook (2024 to 2034)
The global aluminum sheet market is analyzed to generate revenue worth US$ 244.2 billion in 2024 and has been thoroughly analyzed to expand at a CAGR of 6.1% to achieve a value of US$ 440.2 billion by the end of 2034.
The application of aluminum sheets in the automotive industry is analyzed to increase at 6.3% CAGR over the next ten years due to increasing utilization. Aluminum sheets are widely used in vehicle production because of their lightweight, corrosion-resistant, and flexible properties.
Aluminum sheets are used in vehicle body panels and structural components in the automobile industry to lower vehicle weight, increase fuel efficiency, and improve performance. Due to aluminum sheets’ high strength-to-weight ratio and longevity, they are also gaining popularity in the aerospace industry for fuselage panels, wing skins, and structural sections.
The market is also driven by technological advancements such as the creation of new alloys and manufacturing techniques. These developments are leading to the creation of reasonably priced and superior aluminum sheets.
East Asia is projected to lead with 35.2% of the worldwide aluminum sheet market share in 2024 owing to growing demand in the construction industry as they are widely used for interior fittings, roofing, facades, siding, and others because of their appeal, ease of integration, and corrosion resistance. Several market players are aiming at the North American region due to the well-established aerospace & defense industry because in these structures aluminum sheets are consumed to improve flight performance.
Based on application, the flat-rolled products segment is estimated to hold 27.8% revenue share in 2024. Aluminum sheets are used in flat-rolled products because of their several beneficial qualities. Aluminum sheets are perfect for a variety of applications as they are flexible, lightweight, and resistant to corrosion.
| Report Attribute | Detail |
|---|---|
| Aluminum Sheet Market Size (2024E) | US$ 244.2 Billion |
| Forecasted Market Value (2034F) | US$ 440.2 Billion |
| Global Market Growth Rate (2024 to 2034) | 6.1% CAGR |
| East Asia Market Share (2024E) | 35.2% |
| North America Market Value (2024E) | US$ 68.5 Billion |
| South Asia & Pacific Market Growth Rate (2024 to 2034) | 7.7% CAGR |
| Building & Construction Segment Value (2034F) | US$ 135.9 Billion |
| Cold Rolling Segment Value (2034F) | US$ 243.7 Billion |
| Key Companies Profiled | Alcoa Inc.; UACJ Co., Ltd.; Norsk Hydro ASA; Constellium; Zhejiang Hanlv Aluminum Industry Co. Ltd.; Hangzhou Yonghong Nonferrous Metal Materials Co. Ltd.; Shandong Sino Steel (Aluminum) Co. Ltd.; Novelis Inc.; Richard Austin Alloys; Cision Ltd. |
The demand for aluminum sheets has been growing steadily over the years due to distinct factors such as the growth of the automotive sector and propelled use for packaging. The use of these sheets is dominant in the construction sector where they are used in roofing, windows, and siding. Their durability and resistance to corrosion are key characteristics responsible for their rising preference.
Aluminum is a highly recyclable material, and its production requires significantly less energy compared to other metals such as steel. This makes it an attractive choice for automakers looking to reduce their environmental impact.
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What are the key impelling factors of growth in this industry?
Growing Construction Sector to Remain the Dominant Driver of this market
Growing urbanization and migration to urban places have been flourishing construction sector growth mainly in urban and suburban areas. The Construction sector is the major sector responsible for the growth in the aluminum industry. There is rising demand for energy-efficient sustainable buildings is also leading to an increase in the use of these sheets as they are lighter in weight and can be recycled. Recyclable and energy-efficient materials are expected to gain increasing attention in the construction sector in the forecast period 2024- 2034.
Aluminum sheets are commonly used in aluminum curtain wall systems, which are used to create the exterior façade of buildings. In a typical aluminum curtain wall system, aluminum sheets are used to create the outer layer of the wall. These sheets are typically pre-finished with a coating or anodized to improve their appearance and durability.
Rising Popularity of EVs to Capture the Demand for Aluminum
The expanding automotive arcade is another major consumer of aluminum materials. These are majorly used in crafting car bodies, engine blocks, and other parts due to the high strength of these sheets. Moreover, Electric vehicles are gaining popularity in the market owing to which there is anticipation of an increase in their demand in the forecast period. With the growing trend toward electric and hybrid vehicles, the demand for aluminum in the automotive industry is expected to continue to rise.
The production of EVs requires a significant amount of aluminum; these sheets are used to manufacture battery enclosures, which house the batteries that power EVs. Aluminum is a good thermal conductor, which helps to dissipate heat generated by the batteries, reducing the risk of overheating and prolonging their lifespan.
Moreover, the chassis of an EV is the structural framework that supports the vehicle's weight and provides rigidity. These metal sheets are used to manufacture the chassis of EVs, which helps to reduce weight and improve handling and performance.
Growing stringent regulations forcing manufacturers to reduce vehicle weight
The demand in the transportation industry, particularly the automotive sector, is anticipated to increase due to the increasingly strict requirements for vehicle weight reduction, which would subsequently produce a reduction in carbon emissions. This is explained by the use of such sheets, which provide both lightweight and strong strength. Because aluminum has high weldability, it can be molded into any shape and is therefore widely used in the automotive industry as a panel of vehicles like cars, tractors, etc. It also plays a crucial role in boosting fuel efficiency in the automotive industry. Aluminum use in vehicles cuts CO2 emissions by 20%.
Packaged food industry- A Fastest Growing Driver for this Arcade
Globally the demand for packaged food is increasing owing to several lifestyle changes. The Sheets of aluminum are widely used for the production of tins, cans, and other packaged food items. It is also being used to manufacture several consumer products such as utensils, foil, etc.
These sheets are used to make cans for many food and beverage products such as soft drinks, beer, and canned foods. The use of aluminum cans provides a barrier to light and air, which helps to preserve the quality and freshness of the food product. It is used for wrapping and covering food products such as sandwiches, leftovers, and baked goods. The use of aluminum foil helps to prevent moisture loss and freezer burn, as well as protect the food from light and air exposure.
Aluminum trays are used for packaging on-the-go meals, frozen foods, and bakery products. The use of aluminum trays provides a barrier to moisture, light, and oxygen, which helps to preserve the quality and freshness of the food product.
What are restraints that may hinder the growth of this industry?
As the components in laminated aluminum require a time-consuming process to separate, the difficulty in recycling laminated aluminum could become a limiting factor for the global industry. As opposed to aluminum, metals like laminated steel or copper may be recycled more readily. Another barrier to the global market may be fluctuating prices.
The use of substitute materials like polymers and fibers for the production of automobile parts and body parts is another significant issue limiting global demand. The expansion of the global market is predicted to be hampered by the rising usage of composite materials.
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Segment Wise Insights
Flat-rolled products are anticipated to grow in terms of demand as they are used in a wide range of applications including aerospace, automotive, and construction. These aluminum sheets are prepared through a rolling process with reduced thickness of this metal increasing width and length.
Casting and forging are other methods of producing aluminum products, but they typically result in different shapes and properties than flat rolled products. Cast aluminum is often used in structural components and automotive parts, while forged aluminum is commonly used in high-stress applications like aircraft components and racing wheels.
Aluminum foil, on the other hand, is a thin sheet of aluminum that is typically less than 0.2 mm thick. It is used primarily for packaging and wrapping food, as well as for insulation, cooking, and other household and industrial applications. The foil segment is expected to grow with the fastest CAGR in the upcoming times due to growth in the packaging sector.
Key players:
- Alcoa Inc.
- UACJ Co., Ltd.
- Norsk Hydro ASA
- Constellium
- Zhejiang Hanlv Aluminum Industry Co. Ltd.
- Hangzhou Yonghong Nonferrous Metal Materials Co. Ltd.
- Shandong Sino Steel (Aluminum) Co. Ltd
- Novelis Inc.
- Richard Austin Alloys
- Cision Ltd.
Regional Outlook
The Asia Pacific area is predicted to dominate the market from a geographic standpoint. This is explained by the region's significant car manufacturing base. According to projections, China and India will hold a comparatively bigger portion of the worldwide arcade. Due to the growing demand, many countries are increasing their imports of these sheets. For example, China, the world's largest aluminum producer, has significantly increased its imports of aluminum to meet domestic demand.
This is linked to the strict laws surrounding emissions and fuel efficiency in the automotive and aerospace sectors, which has prompted a growth in demand for lightweight aluminum-made parts. North America and Europe are also predicted to have a considerable portion of the business.
Moreover, aluminum has also exhibited superior strength and corrosion resistance, which has also caused a rise in demand. Latin America and the Middle East and Africa are projected to witness relatively higher growth rates owing to the increasing investments in the automotive sector in the regions. Japan is projected to expand at a moderate growth rate over the forecast period.
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Segmentation of Aluminum Sheet Market Research
-
By Process :
- Cold Rolling
- Hot Rolling
-
By Application :
- Flat-Rolled Products
- Casting & Forging
- Foil
- Extrusion
-
By End User :
- Automotive
- Building & Construction
- Aerospace & Defense
- Packaging
- Medical
- Consumer Products
-
By Region :
- North America
- Western Europe
- Eastern Europe
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 6.1. End Use Industry
- 6.2. Application
- 6.3. Process
- 7. Global Market Analysis and Forecast, By End Use Industry
- 7.1. Automotive
- 7.2. Building and construction
- 7.3. Aerospace and defense
- 7.4. Packaging
- 7.5. Medical
- 7.6. Consumer products
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Flat-rolled products
- 8.2. Casting and forging
- 8.3. Foil
- 8.4. Extrusion
- 8.5. Others
- 9. Global Market Analysis and Forecast, By Process
- 9.1. Cold rolling
- 9.2. Hot rolling
- 10. Global Market Analysis and Forecast, By Region
- 10.1. North America
- 10.2. Latin America
- 10.3. Western Europe
- 10.4. Eastern Europe
- 10.5. East Asia
- 10.6. South Asia & Pacific
- 10.7. MEA
- 11. North America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 13. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 15. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 16. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 17. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 18. Sales Forecast by End Use Industry, Application, and Process for 30 Countries
- 19. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 20. Company Profile
- 20.1. Alcoa Inc.
- 20.2. UACJ Co., Ltd.
- 20.3. Norsk Hydro ASA
- 20.4. Constellium
- 20.5. Zhejiang Hanlv Aluminum Industry Co. Ltd.
- 20.6. Hangzhou Yonghong Nonferrous Metal Materials Co. Ltd.
- 20.7. Shandong Sino Steel (Aluminum) Co. Ltd
- 20.8. Novelis Inc.
- 20.9. Richard Austin Alloys
- 20.10. Cision Ltd.
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List Of Table
Table 1: Global Market US$ Mn Forecast by Region
Table 2: Global Market US$ Mn Forecast by End Use Industry
Table 3: Global Market US$ Mn Forecast by Application
Table 4: Global Market US$ Mn Forecast by Process
Table 5: North America Market US$ Mn Forecast by Country
Table 6: North America Market US$ Mn Forecast by End Use Industry
Table 7: North America Market US$ Mn Forecast by Application
Table 8: North America Market US$ Mn Forecast by Process
Table 9: Latin America Market US$ Mn Forecast by Country
Table 10: Latin America Market US$ Mn Forecast by End Use Industry
Table 11: Latin America Market US$ Mn Forecast by Application
Table 12: Latin America Market US$ Mn Forecast by Process
Table 13: Western Europe Market US$ Mn Forecast by Country
Table 14: Western Europe Market US$ Mn Forecast by End Use Industry
Table 15: Western Europe Market US$ Mn Forecast by Application
Table 16: Western Europe Market US$ Mn Forecast by Process
Table 17: Eastern Europe Market US$ Mn Forecast by Country
Table 18: Eastern Europe Market US$ Mn Forecast by End Use Industry
Table 19: Eastern Europe Market US$ Mn Forecast by Application
Table 20: Eastern Europe Market US$ Mn Forecast by Process
Table 21: East Asia Market US$ Mn Forecast by Country
Table 22: East Asia Market US$ Mn Forecast by End Use Industry
Table 23: East Asia Market US$ Mn Forecast by Application
Table 24: East Asia Market US$ Mn Forecast by Process
Table 25: South Asia & Pacific Market US$ Mn Forecast by Country
Table 26: South Asia & Pacific Market US$ Mn Forecast by End Use Industry
Table 27: South Asia & Pacific Market US$ Mn Forecast by Application
Table 28: South Asia & Pacific Market US$ Mn Forecast by Process
Table 29: MEA Market US$ Mn Forecast by Country
Table 30: MEA Market US$ Mn Forecast by End Use Industry
Table 31: MEA Market US$ Mn Forecast by Application
Table 32: MEA Market US$ Mn Forecast by Process
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 4: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Region
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 7: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 8: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 10: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 11: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 12: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 13: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 14: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 15: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 16: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 17: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 18: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 19: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 20: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 21: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 22: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 23: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 24: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 25: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 26: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 27: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 28: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Figure 29: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by End Use Industry
Figure 30: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Application
Figure 31: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Process
Figure 32: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Mn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
Which segment is dominating offerings in the industry?
Cold Rolling Aluminum Sheet is the dominant product segment in the industry at present in 2024.
Which region is dominant in this market?
The Asia Pacific led by countries like India and China reigns this market.
What are segments covered under this report?
The research covers segments such as user industry, process, application, and regions.
How aluminum sheets are used for food packaging purposes?
Sheets of aluminum are widely used for the production of tins, cans, and other packaged food items.
Aluminum Sheet Market