CHICAGO, Aug. 14, 2020 /PRNewswire/ -- According to the new market research report "Aluminum Rolled Products Market by Grade (1xxx, 3xxx, 5xxx and 6xxx), End-Use Industry (Automotive & Transportation, Building & Construction, Packaging, Consumer Durables, Others) and Region (NA, Europe, APAC, MEA, SA) - Global Forecast to 2025", published by MarketsandMarkets, the Aluminum Rolled Products Market size is estimated to be USD 45.2 billion in 2020 and projected to reach USD 62.5 billion by 2025, at a CAGR of 6.7% from 2020 to 2025.
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Growth in automotive & transportation, building & construction and other industries has fuel the growth of aluminum rolled products market. China, India, Japan, US, and Germany are the major countries leading in the market. However, the recent outbreak of Covid-19 is expected to impact the aluminum rolled products market severely.
The 6xxx series grade is projected to lead the aluminum rolled products market during the forecast period
In 2019, the 6xxx series grade accounted for a larger share of the market and is also expected to grow at a highest CAGR during the forecastg period. This growth is attributed towards its properties such as Ultra-high tensile strength, coupled with the light weight of the 6xxx Series which enhances its usage in automotive & transportation industry.
The automotive & transportation industry is projected to be the major consumer of aluminum rolled products during the forecast period
Based on end-use industry, the global aluminum rolled products market is segregated into Automotive and Transportation (Automotive, Aerospace, Train and Ship building), Building and Infrastructure (Building Facades, Doors and Windows), Packaging, Consumer Durables, and Others. Other industries include machinery equipment, electricals & electronics, military equipment, tools &mould, and energy (windmills, etc.). Growth in automotive & transportation industry especially in developing countries such as China, India and others is expected to drive the growth of aluminum rolled products market. Automotive & transportation industry is also expected to register highest CAGR during the forecast period.
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Asia Pacific is projected to be the largest consumer of aluminum rolled products during the forecast period
Based on region, the aluminum rolled products market is segregated into Asia Pacific, the Middle East & Africa, North America, Europe, and South America. Among these, the Asia Pacific accounted for the largest share in 2019 and is also expected to register highest CAGR during the forecast period. Availability of various large manufacturers such as UACJ Corporatation, coupled with growth in building & construction industry is expected to drive the growth of aluminum rolled products market in Asia Pacific.
Key players in the aluminum rolled products market, namely, Novelis Inc. (US), Constellium SE (France), Arconic Rolled Products Corporation (US), UACJ Corporation (Japan), and Norsk Hydro ASA (Norway) are considered for the study.
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