Global Aluminum FRP Market 2017-2021
About Aluminum FRP
Aluminum flat-rolled products (FRPs) include plates, sheets, and foils. These FRPs are principally used for their properties such as flexibility, sustainability, and durability. The main end-users of Aluminum FRPs are the packaging, automobile and transportation, building and construction, aerospace and defense, and consumer durables industries. They are 100% recyclable and do not emit significant hazardous gases during processing.
Technavio’s analysts forecast the global aluminum FRP market to grow at a CAGR of 3.60% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global aluminum FRP market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Aluminum FRP Market 2017-2021
Technavio recognizes the following companies as the key players in the global aluminum FRP market: Alcoa, Aleris, Norsk Hydro, Novelis, and RUSAL.
Other Prominent Vendors in the market are: Alnan Aluminium, AMAG Austria Metall, CHINALCO, Constellium, ELVAL, Gulf Aluminium Rolling Mill (GARMCO), Hulamin, Jindal Aluminum, JW Aluminum, Kaiser Aluminum, Kobe Steel, MET TRADE INDIA, Shandong Nanshan Aluminum, UACJ, Vedanta Resources, and Yunnan Aluminium.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing mass transportation. With the increasing population, demand for public transport is increasing. High-speed trains are gaining popularity due to convenience and time.”
According to the report, one driver in the market is increased adoption of green initiatives. To reduce pollutants, governments in various countries are encouraging the use of aluminum instead of other metals. For instance, the green car incentive policy introduced by Japanese government provided incentives to promote the purchase of new eco-friendly vehicles and scrapping old less-efficient vehicles to reduce greenhouse gas emissions. The use of aluminum FRPs in buildings and constructions helps buildings to achieve green status.
Further, the report states that one challenge in the market is increasing applications of composite materials in aerospace industry. The aerospace industry has witnessed a rise in the use of composite materials. The latest line of modern aircraft has seen rapid development in the structure of aircraft, including the Boeing 787 with about 48% composite content and A350 XWB with about 50% composite content. Further, the aerospace industry is looking to increase the composite content in aircraft to more than 50%, thereby resulting in a significant reduction in the overall weight of the aircraft.
Alcoa, Aleris, Norsk Hydro, Novelis, and RUSAL.Other Prominent Vendors in the market are: Alnan Aluminium, AMAG Austria Metall, CHINALCO, Constellium, ELVAL, Gulf Aluminium Rolling Mill (GARMCO), Hulamin, Jindal Aluminum, JW Aluminum, Kaiser Aluminum, Kobe Steel, MET TRADE INDIA, Shandong Nanshan Aluminum, UACJ, Vedanta Resources, and Yunnan Aluminium.