Aluminum plates and sheet coils are formed by passing aluminum between rolls under pressure to make it longer and thinner in the direction in which it is moved. Aluminum plates are one of the fundamental forms employed in metal working since they can be cut and bent into various shapes and sizes. Aluminum plates are popular due to their high flexibility, cost effectiveness, and wide range of options. Aluminum plates are commonly available in grades of 1100-H14, 5052-H32, 3003-H14, and 6061-T6. Grade 3003-H14 aluminum plates are stronger and utilized in mail boxes, fan blades, tanks, and cabinets. Grade 5052-H32 is the strongest and employed in pressure vessels, and the manufacturing of automotive chassis systems. Similarly, grade 6061-T6 is corrosion resistant, easily weld able and strong, but it loses some of its strength while welding. This grade of aluminum plate is utilized in modern aircraft structures. Aluminum plate is available for a wide range of alloys, 7075 being the most commonly used alloy. This alloy is commonly employed in aerospace and marine industries. Aluminum sheet coils are utilized for a wide range of applications. It is employed in truck bodies in the automotive sector while in the construction and building industry it is used for insulation. Aluminum sheet coils are available in a wide variety of alloys are available. . The width of aluminum sheet coils are generally 1000mm, 1250mm, and 1500mm. Aluminum plates and sheet coils are highly non-corrosive, resistant towards heat, and have high thermal conductivity for which they are extensively used in the automotive sector, construction industry, aerospace industry, and in power generation industry.
Favorable properties such as light weight, non-corrosive, high thermal conductivity have propelled the utilization of aluminum plates and sheet coils in the automotive sector, replacing steel and other metals. The automotive sector has witnessed a shift in its preference toward lightweight vehicles, and this shift is a major factor which has led to an increase in demand for aluminum plates and sheet coils. Furthermore, aluminum plates and sheet coils are extensively employed in the building and construction industry since they provide high conductivity and energy efficiency in constructing sustainable buildings. Aluminum plates are further utilized in the food and beverage industry for packaging and preserving. Therefore, increase in consumption of ready-to-eat food and improved lifestyle are anticipated to fuel the expansion of the aluminum plates and sheet coils market.
However, aluminum plates and sheet coils have high friction and hence, generate large amount of heat. Therefore, their usage in the automotive sector can be harmful, since friction in the gear of a vehicle is likely to produce large amount of heat, which is estimated to heat up the engine. This, in turn, can lead to malfunctioning of the vehicle. Aluminum plates and sheet coils are also bad absorbers of vibration shock and hence, their usage in buildings can be of a disadvantage during earthquakes. These few unfavorable qualities of aluminum plates and sheet coils are projected to create mild hindrances in the expansion of the market.
The global aluminum plate and sheet coils market can be segmented into end-users and geography. In terms of end-users, the market can be segmented into building and construction, automobiles, aerospace, defense, and power generation industries. The automobiles sector is estimated to dominate the market due to an increase in production of lightweight vehicles and therefore, increase in usage of aluminum plates and sheet coils. However, the food & beverage industry segment of the market is likely to expand rapidly.
In terms of geography, the market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. Asia Pacific is expected to hold significant share of the market during the forecast period due to the expanding automobiles sector. Improved lifestyle coupled with increase in disposable income, has further increased the consumption of packaged food and beverages, which is anticipated to increase the need for aluminum plate and sheet coils in the region.
Key aluminum plate and sheet coils vendors and manufacturing companies operating in this market include Hindalco Industries (India), Alcoa (France), Aleris (Canada), Constellium (U.K.), and Norsk Hydro (Belgium).
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.