Aluminum Sheet and Plate Market Key Trends, Top Manufacturers, and Competitive Strategies

Global aluminum sheet and plate market is expected to grow at a significant CAGR in the upcoming period as the scope and its applications are rising enormously across the globe. Aluminum sheet & plate is formed by passing aluminum between rolls under pressure, that becomes thinner and longer in the direction. It is easily recyclable.

The factors that are playing a major role in the growth of the market are the high demand from several industries, recycled continuously without loss of properties, rising concern regarding environment, and highest performance standards in armor (military). However, fluctuating cost of aluminum may restrain the overall market in the years to come. Aluminum sheet and plate market is segmented based on product type, source, thickness, application, and region.

Aluminum diamond plate, aluminum sheet & plate (6061, 3003, and 5052), painted aluminum sheet, perforated aluminum sheet, and expanded aluminum sheet are the product types that are explored in the market. Based on source, DFARS, domestic, and import classify aluminum sheet & plate market. Based on thickness, 25-200 mm, 0-25.0 mm, 0.60 mm, and 15-2.0 mm classify the market.

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The market is categorized based on applications like construction, aerospace, packaging, transportation, military, food & beverages, building and construction, industrial & general engineering, and others. The food & beverages sector accounted for the substantial share of aluminum sheet & plate market and is estimated to lead the overall market in the years to come. The reason behind overall market growth could be the high demand from consumers, increases shelf life of food & beverages, and protects against contaminants, light, moisture, and oxygen.

Globally, Asia Pacific accounted for the substantial share of the market and is estimated to lead the overall market in the years to come. The reason behind overall market growth could be growing number of producers, huge consumer base, high demand in consumer packaging like beverage cans, and growing number of automotive manufacturers in the region. The developing countries like India, China, and Japan are major consumers of aluminum sheet & plate in this region.

The key players of aluminum sheet and plate market are Novelis, Hindalco Industries, Alcoa Corporation, Norsk Hydro, Aleris, UACJ, China Hongqiao Group, Kaiser Aluminum, Norsk Hydro, and Constellium. These players are concentrating on inorganic growth to sustain themselves amidst fierce competition.

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