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Global Aluminum FRP Market is Expected to Grow by 4.76 Million MT during 2020-2024 Progressing at a CAGR of Over 3% During the Forecast Period

·6 min read

The global Aluminum FRP market size is expected to grow by 4.76 million MT during 2020-2024, progressing at a CAGR of over 3% during the forecast period. Download latest version with COVID-19 analysis Free Sample Report

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201104005388/en/

Technavio has announced its latest market research report titled Global Aluminum Flat-rolled Products (FRP) Market 2020-2024 (Graphic: Business Wire)

The rising demand from the automobile industry is one of the major factors propelling market growth. However, factors such as competition from China will hamper market growth.

Because of the replacement of steel with aluminum FRPs, there was significant demand from the automotive and transportation segment in recent years. This substitution is mainly due to the weight advantage that aluminum offers over steel. In addition to boosting the fuel economy, reducing emissions, and increasing the overall performance of the vehicle, aluminum FRPs also help automotive manufacturers improve the durability and safety of their products. This will increase the preference for aluminum FRPs in manufacturing luxury cars as well. FRPs help automakers improve dent resistance by making thicker body panels at an overall reduced vehicle weight. Such factors will positively impact the aluminum FRP market size during the forecasted period. The demand for aluminum FRP from the automobile industry is one of the significant factors that will drive market growth.

More details: www.technavio.com/report/aluminum-flat-rolled-products-market-industry-analysis

Global Aluminum FRP Market: Type Landscape

Aluminum sheets are used in several end-user industries such as packaging (cans), aerospace (skins of aircraft), and building and construction (facades of buildings). In the construction industry, aluminum sheets are used to produce products such as carports, roofing, siding, awning, and gutters. Aluminum plates and sheets provide a barrier against moisture, oxygen, air, and other environmental factors that can cause spoilage of foods in cans. They are non-toxic, non-hazardous, and do not impact the taste of the food. They keep the food fresh for long periods without refrigeration. The aluminum FRP market share growth by the plates and sheets segment will be slower than the growth of the market by the foils segment.

Global Aluminum FRP Market: Geographic Landscape

APAC was the largest aluminum FRP market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The presence of strong production and consumption base of FRPs will significantly drive the aluminum FRP market growth in this region over the forecast period. Almost 64% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for aluminum FRP in APAC. Market growth in this region will be faster than the growth of the market in other regions.

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Companies Covered

  • Alcoa Corp.

  • Aleris Corp.

  • Aluminum Corp. of China Ltd.

  • AMAG Austria Metall AG

  • Constellium SE

  • Hulamin Ltd.

  • Kaiser Aluminum Corp.

  • Kobe Steel Ltd.

  • Norsk Hydro ASA

  • Viohalco SA

What our reports offer:

  • Market share assessments for the regional and country-level segments

  • Strategic recommendations for the new entrants

  • Covers market data for 2019, 2020, till 2024

  • Market trends (drivers, opportunities, threats, challenges, investment opportunities, and recommendations)

  • Strategic recommendations in key business segments based on the market estimations

  • Competitive landscaping mapping the key common trends

  • Company profiling with detailed strategies, financials, and recent developments

  • Supply chain trends mapping the latest technological advancements

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform

Global Aluminum FRP Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024

  • Detailed information on factors that will assist in global aluminum FRP market growth during the next five years

  • Estimation of the global aluminum FRP market size and its contribution to the parent market

  • Predictions on upcoming trends and changes in consumer behavior

  • The growth of the global aluminum FRP market

  • Analysis of the market’s competitive landscape and detailed information on vendors

  • Comprehensive details of factors that will challenge the growth of the global aluminum FRP market, vendors

Table of Contents:

Executive Summary

  • Market Overview

Market Landscape

  • Market ecosystem

  • Value chain analysis

Market Sizing

  • Market definition

  • Market segment analysis

  • Market size 2019

  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers

  • Bargaining power of suppliers

  • Threat of new entrants

  • Threat of substitutes

  • Threat of rivalry

  • Market condition

Market Segmentation by Type

  • Market segments

  • Comparison by Type

  • Plates and sheets - Market size and forecast 2019-2024

  • Foils - Market size and forecast 2019-2024

  • Market opportunity by Type

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation

  • Geographic comparison

  • APAC - Market size and forecast 2019-2024

  • Europe - Market size and forecast 2019-2024

  • North America - Market size and forecast 2019-2024

  • South America - Market size and forecast 2019-2024

  • MEA - Market size and forecast 2019-2024

  • Key leading countries

  • Market opportunity by geography

Drivers, Challenges, and Trends

  • Market drivers

  • Volume driver - Demand led growth

  • Volume driver - Supply led growth

  • Volume driver - External factors

  • Volume driver - Demand shift in adjacent markets

  • Price driver - Inflation

  • Price driver - Shift from lower to higher priced units

  • Market challenges

  • Market trends

Vendor Landscape

  • Overview

  • Landscape disruption

Vendor Analysis

  • Vendors covered

  • Market positioning of vendors

  • Alcoa Corp.

  • Aleris Corp.

  • Aluminum Corp. of China Ltd.

  • AMAG Austria Metall AG

  • Constellium SE

  • Hulamin Ltd.

  • Kaiser Aluminum Corp.

  • Kobe Steel Ltd.

  • Norsk Hydro ASA

  • Viohalco SA

Appendix

  • Scope of the report

  • Currency conversion rates for US$

  • Research methodology

  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

View source version on businesswire.com: https://www.businesswire.com/news/home/20201104005388/en/

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