Global Aluminum FRP Market 2017-2021

Overview of the global aluminum FRP market

Market research analysts at Technavio predict that the global aluminum FRP market will grow steadily at a CAGR of around 4% by 2021. Owing to the replacement of steel with aluminium FRPs the market witnessed a significant demand from the automotive and transportation segment in the recent years. This substitution is mainly due to the weight advantage that aluminum offers over steel. In addition to boosting the fuel economy, reducing emissions, and increasing the overall performance of the vehicle, aluminum FRPs also help the automotive manufacturers improve the durability and safety of their products. This will increase the preference of aluminum FRP for manufacturing luxury cars as well, since they help automakers improve the dent resistance by making thicker body panels at an overall reduced vehicle weight. Such factors will positively impact the aluminum FRP market size during theforecasted period. According to this market research and analysis, this demand for aluminum FRP from the automobile industry is identified as one of the primary growth factors for this market.

Our aluminum FRP market industry report states, the emergence of alternative energy generation is one of the latest trends that will gain traction in the market during the next four years. Owing to their energy-efficient, eco-friendly, and sustainable benefits, aluminum FRPs will be widely used in the production of solar panels. This will in turn, assist several renewable energy sectors to overcome environmental challenges. Aluminum sheets can also sustain in harsh outdoor environments and can be applied for light concentration or reflection. Additionally, the use of aluminum FRPs is also increasing in photovoltaic panels for power enhancement.

Competitive landscape and key vendors

Owing to the presence of many vendors, the aluminum FRP market appears to be highly fragmented. Factors such as rapid technological advancements, intense competition, and frequent changes in consumer preferences will be significant risk factors to the growth of the vendors in this marketspace.

The leading vendors in the market are -

• Alcoa
• Aleris
• Norsk Hydro
• Novelis
• RUSAL

The 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.

Segmentation by product form and analysis of the aluminum FRP market

• Plates and sheets
• Foils

During 2016, the plates and sheets segment accounted for the major shares of the aluminum FRP market. The increased demand from the building and construction, food and beverage, and automobile and transportation industries will contribute to the growth to the aluminum FRP market segmentation in the coming years. Furthermore, the demand for aluminum armor plate in countries such as the US will also propel the segment’s growth in this global market.

Geographical segmentation and analysis of the aluminum FRP market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market throughout the forecast period. The rise in utilization of aluminum FRPs in various end-user industries and the increase in demand for beverage cans and foils in the pharmaceutical and packaging industry, will drive the growth of the market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global aluminum FRP market?
• What are the key market trends impacting the growth of the global aluminum FRP market?
• What are the challenges to market growth?
• Who are the key vendors in the global aluminum FRP market?
• What are the market opportunities and threats faced by the vendors in the global aluminum FRP market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global aluminum FRP market?