Global Aluminum Plates & Sheets Market for Automobile and Transportation Industry 2017-2021
About Aluminum Plates and Sheets for Automobile and Transportation Industry
Aluminum plates and sheets for automobile and transportation is widely used due to their multiple advantages like flexibility, durability, sustainability, and non-combustible, and recyclable properties.
Technavio’s analysts forecast the global aluminum plates and sheets market for automobile and transportation industry to grow at a CAGR of 4.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global aluminum plates and sheets market for automobile and transportation industry 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 Plates and Sheets Market for Automobile and Transportation Industry 2017-2021
Technavio recognizes the following companies as the key players in the global aluminum plates and sheets market for automobile and transportation industry: Alcoa, Aleris, Constellium, Novelis (Aditya Birla Management Corporation), and Norsk Hydro.
Other Prominent Vendors in the market are: China Hongqiao Group Limited, CHINALCO, GUANGZHOU XINGHE ACP CO, LTD, Hulamin, Kaidi Industrial Limited, Logan Aluminum, Shandong Xintong Aluminum and Tajik Aluminium Company (TALCO).
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increase in strength and formability of aluminum sheets. Alcoa has started producing aluminum sheets that are 30% stronger and 40% more formable than regular aluminum sheets available in the market today. These new sheets are also resistant to dents.”
According to the report, one driver in the market is growing value beyond fuel efficiency. In addition to fuel-efficient characteristics, aluminum can be recycled easily. Due to its high inherit value which is recorded as 3, recycling is much preferred, which is economically efficient. About 95% of the total energy used to produce aluminum by the smelter route can be saved by recycling, which in turn reduces emissions and saves raw materials.
Further, the report states that one challenge in the market is limited use of aluminum in the marine industry. Although aluminum has many advantages like corrosion resistance and non-magnetic properties, it has a major drawback of low stiffness and density. The density of aluminum is measured to be one-third of that of steel. Layers of insulation material must be used for safety purposes, as aluminum has low melting temperature than steel. These insulations are mostly used in military ships and LNG carriers as the risk of fire accidents is high.
Alcoa, Aleris, Constellium, Novelis (Aditya Birla Management Corporation), Norsk Hydro, China Hongqiao Group Limited, CHINALCO, GUANGZHOU XINGHE ACP CO, LTD, Hulamin, Kaidi Industrial Limited, Logan Aluminum, Shandong Xintong Aluminum and Tajik Aluminium Company (TALCO).