June 11, 2020
As per the report titled ‘Global Cold Rolled Aluminum Coil Market Size study, by Type (1000 Series Coil, 2000 Series Coil, 3000 Series Coil, 4000 Series Coil, 5000 Series Coil, 6000 Series Coil, 7000 Series Coil) by Application (Transport, Building & Construction, Electrical Engineering, Consumer Goods, Foil & Packaging, Machinery & Equipment, Others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global cold rolled aluminum coil market is expected to record a healthy growth rate through 2026.
Extensive product demand for manufacturing airplane oil tanks, transportation vehicles, oil pipes, ships, and food & packaging industry, coupled with the rise in aluminum production are propelling the global cold aluminum coil market growth.
According to the U.S. Geological Survey, aluminum production from primary source increased from 741,000 metric tons in 2017 to 890,000 metric tons in 2018. Whereas, production from secondary sources like from old scraps increased from to 1.59 million metric tons in 2017 to 1.6 million metric tons in 2018. In view of these developments, increasing mining activities across the globe and recycling of metal will enhance industry remuneration in the forthcoming years, cites the study.
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Cold rolled aluminum coils are manufactured by processing the aluminum metal through the cold rolling process which involves rolling of the metal at a low temperature for strain-hardening to take place. Although the process is named cold rolling, the metal is heated up to approximately 100 degree Celsius to deform the metal and is simultaneously cooled to maintain thermal equilibrium. The process is mostly used to produce aluminum strips and sheets of required gauge with enhanced physical properties such as weldability, corrosion resistance, and medium strength, making it favorable for use across various end-use industries.
Considering the geographical landscape, global cold rolled aluminum coil market is fragmented into North America, Europe, Asia Pacific, Latin America, and Rest of the World. Asia Pacific is expected to emerge as hotbed for the industry growth, with China as the largest producer of aluminum in the region. According to USGS, China produced 33 million metric tons of aluminum in 2018, whereas India produced 3.7 million tons in the same year. The rapid industrialization and wide availability of raw materials at lower costs is supporting the growth of cold rolled aluminum coils industry in APAC.
Key players operating in global cold rolled aluminum coil market are Norsk Hydro ASA, Novelis Inc., RUSAL Plc, United Company, Alcoa Corporation, Constellium SE, Rio Tinto Ltd., UACJ Corporation, and Chalco.