LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global aluminum FRP market report until 2021. This research report also lists 16 other prominent vendors that are expected to impact the market during the forecast period.
The research study by Technavio on the global aluminum FRP market for 2017-2021 provides a detailed industry analysis based on the product form (plates and sheets, and foils), end-user (food and beverages, automobiles and transportation, industrial and general engineering, building and construction, and aerospace and defense), end-user (consumer, pharma, and industrial), and geography (APAC, EMEA, and the Americas).
“The global aluminum FRP market is projected to reach nearly 30,000 thousand metric tons by 2021, growing at a CAGR of nearly 4% over the forecast period. The increasing demand for packed foods and beverages is one of the key factors driving the growth of the market,” says Kshama Upadhyay, a lead analyst at Technavio for metals and minerals research.
Competitive vendor landscape
The aluminum FRP market is highly fragmented with the presence of many vendors. Some of the leading players in the market are Alcoa, Aleris, Norsk Hydro, Novelis, and RUSAL. Rapid technological advancements, intense competition, and frequent changes in consumer preferences constitute significant risk factors to the vendors in the market.
However, there are significant regional differences that can be attributed mostly to the growth rate and development of the global aluminum FRP market in different regions. APAC has a high concentration of customers with key vendors in this region accounting for major shares of the market. In contrast to APAC, North America and Europe have moderate customer bases.
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Top five vendors in the global aluminum FRP market
Alcoa engages in the development, manufacture, and sales of products and solutions that find their application in markets, including aerospace, commercial transportation, oil and gas, and aerospace. The company offers fasteners, forgings, alloys, rings, industrial gas turbines, airfoils, titanium aero ingots, multi-material airframe technologies, subassemblies, and materials, including titanium aluminides and 3D printing.
Aleris engages in the manufacture and sales of aluminum rolled products and operates in three segments: APAC, Europe, and North America. The company offers products, including coated and rolled products that find application in building and construction, consumer durable, automotive, metal distribution, and other related industries.
Norsk Hydro specializes in power production, alumina refining, bauxite extraction, aluminum smelting, aluminum remelting, aluminum recycling, and rolling activities globally. It has primary metal production facilities in Europe, Australia, Canada, Brazil, and Qatar.
Novelis manufactures and markets aluminum rolled products. In 2007, the company was acquired by Hindalco Industries, which is a part of the Aditya Birla Group. The acquisition boosted Hindalco, to become the world's largest aluminum rolling company, and a leading producer of primary aluminum in Asia.
RUSAL manufactures and sells aluminum and related products. Its products include primary aluminum, aluminum coarse, and fine powders, aluminum alloys, bauxite, alumina, high-purity aluminum, aluminum foils and packaging, silicon, corundum, gallium, wire rods, and other chemical products.
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Technavio is leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.
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