This industry research report presents a comprehensive segmentation of the global aluminum FRP market by product (plates and sheets and foils) and by geography (Americas, APAC, Europe, and ROW). The leading companies in the market are Aleris, Alba, Alcoa, EGA, Hindalco-Novelis, Novo Hydro, RUSAL, and Vedanta.
Technavio has released updated information on the aluminum market, with the publication of its new market research report, global aluminum FRP market. The global aluminum flat-rolled products (FRP) market is expected to grow at a CAGR of around 4% between 2015 and 2019. Owing to its lightweight, aluminum is preferred across various industries including food and beverages, and defense and aerospace. APAC dominates the market, accounting for around 44% of the market share. China is the largest producer of aluminum FRP globally. As per the market forecast, India to increase its imports during the forecast period due to the rising demand from the packaging segment.
“The increased use of aluminum in mass transportation vehicles is gaining grounds, owing to its light weight, efficiency, easy maintenance, and reduced fuel consumption and carbon emissions. Aluminum embossed and checkered sheets are used widely for flooring and panelling applications across the transportation industry. Moreover, due to its very good heat conductivity, Aluminum FRP are incarsingly used in heat exchangers and other heat transfer applications, besides being used in the solar panel production,” says Sriram Mohan, Lead Analyst, Metals & Minerals, Technavio Research.
Various governments across the world have encouraged the use of aluminium to minimise pollutants. Aluminum is easily recyclable and resistant to corrosion, thus ensuring the sustainability and durability of the vehicle. Recently, Japan launched its green car incentive policy which provides incentives to promote the purchase of eco-friendly, new vehicles to reduce greenhouse gas emissions.
The key vendors in the global aluminum FRP market are Aleris, Alba, Alcoa, EGA, Hindalco-Novelis, Novo Hydro, RUSAL, and Vedanta. The market is highly fragmented with the presence of numerous suppliers in the market. With the increasing number of new providers, the market share for key vendors is dropping and is being shared by the new players. The market is predicted to witness an increased number of mergers during the forecast period.
A more detailed analysis is available in the Technavio report, Global Aluminum FRP Market 2015 – 2019.
We can customize this reports by other regions and specific segments upon request.
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