Selbyville, Delaware, March 01, 2020 (GLOBE NEWSWIRE) -- According to the latest research report published by Global Market Insights, Inc, aluminum flat products market size was valued at $52 billion in 2018 and is anticipated to exceed $75 billion by 2026, registering a CAGR of 5% from 2019 to 2026. The report offers insights on market dynamics, including drivers, trends, restraints and opportunities and competitive landscape. The report also drills down the market size estimation. The report further offers an analysis of strategic business strategies and major investment pockets.
Stakeholders are emphasizing the supply of aluminum flat products to pharmaceuticals, food, transport, and other industries to offer them sustainable packaging solutions. It is worth noting that flat product fabricators tend to use state-of-the-art solutions and provide cutting-edge manufacturing facilities to attain optimal energy efficiency.
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Based on end-use, the market is segmented into building & infrastructure (residential, commercial, transport Networks, utilities), automotive & transportation, consumer goods, equipment & machinery, packaging, and electrical & electronics. Aluminum flat products are set to be highly sought-after in building and infrastructure, electrical and electronics and packaging.
The construction industry has been the major investment hub for stakeholders as aluminum flat products are increasingly being used in the residential sector for window frames, curtain walling and other glazed structures. For instance, end-users deploy aerated cladding systems that protect the outer part of insulation materials from rain.
Based on products, the aluminum flat products market is segmented into flat bars, foil stock, sheets, fin stock, plates, and circles. Aluminum sheets are expected to set the trend in industrial and commercial buildings as these sheets can resist fire for a long duration and have high tensile strength at low temperatures. Moreover, aluminum sheets retain their toughness and are thermal friendly across all sorts of weather.
Major reasons for aluminum flat products market growth:
- Burgeoning construction activities in the wake of robust urbanization.
- The upsurge in the demand for aluminum flat products demand in electrical & electronics products.
- The rising popularity of aluminum circles such as discs that are popular for making kitchen supplies, and cookware products.
- An uptick in R&D activities.
- Profound use of flexible aluminum packaging in the pharmaceutical industry
The Asia Pacific is expected to be a favorable investment destination and is set to account for the highest aluminum flat products share in the region, citing trend for packaging. Profound use of flexible aluminum packaging in the pharmaceutical industry on the back of insulating properties is slated to fuel the aluminum flat products market share.
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Some of the leading companies profiled in the aluminum flat products market report are Logan Aluminum, Elvalhalcor Hellenic Copper, JW Aluminum and Aluminum Industry S.A., UACJ and Novelis. These players are primarily involved in different strategies such as R&D investment, mergers and acquisitions, partnerships, collaborations, new product launches, and others to heighten their stand in the market.
About Global Market Insights, Inc.
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.
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