Rolling Aluminum: Introduction
- Rolling aluminum is a process of converting cast aluminum slab from the smelters and wrought re-melts into a usable industrial form. Hot rolling helps reduce a slab of about 600mm thickness down to plate material with thicknesses of 6 mm to 250 mm and further reduce it to as low as 2mm for subsequent cold rolling to sheet with thicknesses as low as 0.2mm.
Key Drivers & Restrains of Aluminum Rolled Products Market
Increase in demand for aluminum products in automotive industries to produce lighter body panels for electric vehicles is expected to augment the global aluminum rolled products market during the forecast period. According to the Novelis, a manufacturer of rolled aluminum products, the demand for aluminum products from the automotive sector is estimated to double in next five years from 2018.
- Surge in demand for packaging products from several end-use industries such as food & beverage is also anticipated to propel the global aluminum rolled products market in the near future
- Introduction of stringent emission standards in the automotive industry, primarily in developed regions such as Europe, has compelled automakers to adopt lighter materials to reduce vehicle weight. This, in turn, is anticipated to propel the global aluminum rolled products market in the near future. Aluminum automotive components can be up to 50% lighter than steel components.
COVID-19 Impact Analysis
- Governments of various countries such as China and India enforced nationwide lockdown as part of measures to limit the spread of COVID-19. Consequently, end-users had to halt their production facilities. This, in turn, reduced the demand for aluminum rolled products.
Automotive Segment to Hold Major Share of Global Market
- The global aluminum rolled products market can be segmented based on grade, end-user, and region
- In terms of grade, the global aluminum rolled products market can be divided into 1xxx, 3xxx, 5xxx, 6xxx, and others. The 6xxx segment is anticipated to expand significantly during the forecast period as, 6xxx grade offers several properties such as light weight and ultra-high tensile strength.
- In terms of end-user, the global aluminum rolled products market can be divided into automotive, building & infrastructure, packaging and others. The automotive industry extensively employs aluminum rolled products in order to reduce vehicle weight and consequently, optimize efficiency.
- In April 2020, Novelis Inc., a leading global player in the field of aluminum rolling and recycling, acquired Aleris Corporation, a prominent supplier of rolled aluminum products. This acquisition strategy is anticipated to consolidate Novelis Inc.’s position in the market in Asia Pacific. The company is also expected to add aerospace to its portfolio and enhance its ability to continue to introduce innovative products to the market and strengthen its research and development capabilities.
- In February 2019, Arconic Inc. announced to invest US 100 million to expand its hot mill capability and add downstream equipment capabilities to manufacture industrial and automotive aluminum products at its Tennessee Operations facility near Knoxville, Tennessee, U.S.
Asia Pacific to Hold a Major Share of Global Aluminum Rolled Products Market
- In terms of region, the global aluminum rolled products market can be divided into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
- The aluminum rolled products market in Asia Pacific is expected to expand at a significant pace during the forecast period. Surge in demand for aluminum in the food & beverage industry as packaging material is anticipated to fuel the demand for aluminum rolled products during the forecast period.
- North America is likely to be a stable market for aluminum rolled products during the forecast period. Increase in demand for electric vehicles is estimated to propel the aluminum rolled products market in the region. Introduction of stringent regulations to minimize carbon emissions is a key factor propelling the demand for electric vehicles across the region.
- Europe is also projected to hold a key share of the global aluminum rolled products market due to an increase in efforts by automakers to reduce the weight of vehicle in order to enhance its efficiency. Reduction in mass of vehicle by 10% reduces fuel consumption by 6.5%. Aluminum offers several advantages such as cost competitiveness, lightweight, high electrical conductivity, corrosion resistance, and recyclability.
Key Players Operating in Global Market
Leading companies operating in the global aluminum rolled products market include:
- Novelis Inc.
- Alcoa Corporation
- UACJ Corporation
- Norsk Hydro ASA
- Constellium N.V.
- Gabrian International
Global Aluminum Rolled Products Market: Research Scope
Global Aluminum Rolled Products Market, by Grade
Global Aluminum Rolled Products Market, by End-user
- Building & Infrastructure
Global Tire-derived Fuel Equipment Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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.
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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.