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.
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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.
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- 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.
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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.
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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