Lewes, DE -- (SBWire) -- 10/19/2015 --The market is likely to reach a CAGR of approximately 3.64% until 2019. The demand for aluminium FRP from the automobiles industry is driving the market. This is because aluminium FRP is replacing steel in automobiles and transport. It is preferred over other metals due to its light weight leading to reduced fuel consumption and reduced greenhouse gas emission.
This market research report emphasizes on the involvement of industries such as food and beverages, automobile and construction, and defence and aerospace. It is easily recyclable and resistant to corrosion, thus reducing maintenance and increasing the life of the product .With an increase in the aluminium production especially in China, the aluminium FRP industry is expected to gain significant traction during the forecast period.
Market segmentation of aluminium FRP industry by type
- Plates and sheets
- Foils
Plates and sheet accounted for more than three-fourth of the market in 2014, and the study predicts a decline in its market share by 2019. However, it is considered as an important FRP material due to its usage in the food and beverages and automobiles industries. The demand for light weight material will emerge as a key growth driver for this segment during the forecast period.
The plates and sheets segment is predicted to cross over 22.05 million metric tons by 2019.
Market segmentation of aluminium FRP market by application
Plates and sheets
- Food and beverages
- Building and construction
- Automobiles and transport
- Aerospace and defence
- Industrial and general engineering
- Others
Foils
- Consumer packaging
- Pharmaceutical packaging
- Industrial (non-packaging)
The high demand for packed food and beverages calls for an increase in consumer packaging. Aluminium foil packaging protects food against light, oxygen, moisture, and other contaminants, thus providing food quality preservation benefits.
The use of foil in pharmaceutical packaging is likely to witness the strongest growth in the next four years.
Geographical segmentation of aluminium FRP market
- Americas
- APAC
- Europe
- ROW
APAC dominates the market with many developing countries contributing to its growth. China was the largest producer of aluminium FRP in 2014, followed by Japan and Taiwan. China is focusing on balancing internal market by discouraging export of primary aluminum by imposing high duties. At the same time, it is giving VAT rebates for export of semi-fabricated and value-added products, thus, encouraging the export of high value products.
Vendor landscape aluminium FRP industry
Constellium is planning to build a second body-in-white aluminum finishing line with a capacity of 100,000 tons in North America. Similarly, other international players are also expected to expand their production capacity. The competitive environment of this market is expected to intensify with an increase production capacity in the coming years. The market is also likely to witness a growing trend of local acquisitions by the leading players. The key players in the market are expected to diversify their geographical presence with a focus on APAC during the forecast period.
The top-eight leading vendors of the market include:
- Aleris
- Aluminum Bahrain
- Aluminum Company of America
- Emirates Global Aluminum
- Hindalco Novelis
- Hydro Aluminum
- Russian Aluminum
- Vedanta Aluminum
Key questions answered in the report
- What are the key factors driving the global aluminium FRP market?
- What are the key market trends impacting the growth of the global aluminium FRP market?
- What are the various opportunities and threats faced by the global aluminium FRP market?
- Trending factors influencing the market shares for Europe, APAC, and Americas?
- Key outcome of the five forces analysis on the global aluminium FRP market?
- Growth forecast of the global aluminium FRP market until 2019?
Spanning over 120 pages "Global Aluminum FRP Market 2015-2019" report covers Executive Summary, Scope of the Report, Market Research Methodology, Introduction, Market landscape, Global aluminum market, Global aluminum pricing, Aluminum industry value chain, Global aluminum FRP market, Market segmentation by product, Global aluminum plates and sheets market by end-user, Global aluminum foils market by end-user, Market segmentation by geography, Key leading countries, Market drivers, Impact of drivers, Market challenges, Impact of drivers and challenges, Market trends, Vendor landscape, Key vendor analysis, Appendix.
For further information on this report, please visit- http://www.marketresearchreports.com/technavio/global-aluminum-frp-market-2015-2019
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