The project report includes Present Market Position and Expected Future Demand, Market Size, Statistics, Trends, SWOT Analysis and Forecasts. Report provides a comprehensive analysis from industry covering detailed reporting and evaluates the position of the industry by providing insights to the SWOT analysis of the industry.
Aluminum Sheet/Plate is the most widely used form of aluminum which undergoes the process of transformation of the metal into flat pieces or thin sheets of aluminum metal. Aluminum sheets are produced by rolling ingots under specific pressure according to the desired thickness.
Thickness of aluminum sheet is less than 6mm, also called as leaf or foil. Aluminum is one of the most widely used materials for making sheets due to its cost effectiveness, ductility, and robustness. Aluminum can be easily moulded into various shapes, grades or in number of forms which has led to increased usage of aluminum sheets in different industrial application. Aluminum sheets are popularly used for industrial applications including aerospace (panel of planes), transportation-(auto panel body), packaging (can bodies) and construction (buildings).
Aluminum sheets exhibit excellent anti-corrosion property and hence are widely being used for marine applications. Aluminum sheets are excellent option for industrial as well as structural application due to its high strength and flexible nature. The global aluminum sheet market is anticipated to grow at a moderate CAGR over the forecast period.
Aluminium is the world’s most abundant metal and is the third most common element, comprising 8% of the earth’s crust. The versatility of aluminium makes it the most widely used metal after steel. Although aluminium compounds have been used for thousands of years, aluminium metal was first produced around 170 years ago. In the 100 years since the first industrial quantities of aluminium were produced, worldwide demand for aluminium has grown to around 29 million tons per year.
About 22 million tons is new aluminium and 7 million tons is recycled aluminium scrap. The use of recycled aluminium is economically and environmentally compelling. It takes 14,000 kWh to produce 1 ton of new aluminium. Conversely it takes only 5% of this to remelt and recycle one ton of aluminium. There is no difference in quality between virgin and recycled aluminium alloys. Pure aluminium is soft, ductile, and corrosion resistant and has a high electrical conductivity. It is widely used for foil and conductor cables, but alloying with other elements is necessary to provide the higher strengths needed for other applications.
Aluminium is one of the lightest engineering metals, having strength to weight ratio superior to steel. By utilizing various combinations of its advantageous properties such as strength, lightness, corrosion resistance, recyclability and formability, aluminium is being employed in an ever-increasing number of applications. This array of products ranges from structural materials through to thin packaging foils.
Market-O-Nomics:
• The Aluminum Plate Market is expected to expand and grow at a CAGR of 5.5%
• These plates and are formed by passing aluminum between rolls under pressure to make it longer and thinner in the direction in which it is moved.
• These plates and sheet coils are non-corrosive, heat resistant, and have high thermal conductivity for which they are extensively used in the automotive, construction, aerospace, and in the power generation industry.
• Properties such as non-corrosive, lightweight, high thermal conductivity have increased the demand of aluminum plates and in the automotive sector, replacing steel and other metals as the sector registers a shift in its preference toward lightweight vehicles.
• Aluminum plates are also used in the food and beverage industry for packaging and preserving. An increase in the consumption of ready-to-eat food due to fast lifestyles is expected to fuel the demand registered in the aluminum plates market.
• The global aluminum plate market can be segmented applications that include automotive and aerospace.
• The global aluminum sheet market is anticipated to be dominated by Asia Pacific region a factor that is attributed to the large base of automotive production and consumption in the region.
Aluminum flat products are produced from flat rolling processing method which turns an aluminum ingot known as slab into thinner product or a plate. Flat aluminum products are widely used in manufacturing of cans, foil, automobile bodies and equipment & machinery which may drive aluminum flat products market demand.
Production of these rolled products is a cost-effective process as the metals are shaped into custom cross-section profiles, which require low labor demands, allowing higher volume production for most products with higher efficiency.
Aluminum flat products are used broadly in various applications including household utensils, packages, closures, building interiors & exteriors, roofs and home electric appliances. Flat aluminum products such as aluminum cans have higher recycling rates than other packaging material. They are lightweight, stackable, and strong, allowing brands to package & transport more beverages using lesser materials.
In past few years, the aluminum industry recycled 56.2 billion cans with a recycling rate of 63.6%. The rising awareness about plastic pollution and its adverse effects on the environment have prompted many government organizations to take initiatives, such as plastic recycling, and impose regulations to curb plastic waste generation. However, as plastic recycling is not completely effective; industries are opting for alternative packaging solutions such as aluminum foil.
Foil stock are also used in pharmaceutical packaging as they possess insulating properties. It acts as a barrier against light, oxygen and moisture which protects the drugs from contamination and deterioration. Usage of foil stock for pharmaceutical packaging also improves longer shelf life of products offering higher security to patients may boost the aluminum flat products market.
Furthermore, the ability to safeguard food and pharmaceuticals from impurity and the natural lightness of aluminum makes it a raw material of choice over other foil options. With disposable packaging trends, where plastic based packaging is posing threat to environment, aluminum foil products can help meet fundamental sustainability goals in the aluminum flat products market.
Aluminum flat products are ideally suited to design electrical vehicles to meet demanding performance requirements. Light weighting through aluminium lowers both the manufacture and the operational expenses of electric vehicles as a lighter car needs less batteries and power to travel the same distance. The automobile manufacturers have switched from steel to aluminum flat products for battery enclosures which may drive the market growth.
It is intended to prepare a Feasibility Report to install 200 TPD Aluminium Plate (Thickness 1mm to 3mm) production facilities as a Brown Field Project.
