Global outlook for fiber reinforced plastics and extruded aluminum

0
5K

Between 2016 and 2020, global demand for flat rolled and extruded aluminum products is expected to grow at a compound annual growth rate (CAGR) of 5-6%, driven primarily by increased demand from the transportation sector. This is the general expectation held by the major aluminum fabricators, which is based on the most recent research and projections. Meanwhile, demand from the construction industry will remain weak as major economies struggle to stabilize their financial sectors, resulting in stagnant GDP growth.

 

 

hq720.jpg

 

 

China will account for the majority of the increase in demand, both for extrusions and flat rolled products (FRPs). India, Brazil, and other developing countries will follow closely behind. Demand for automotive sheet alone is expected to grow at the fastest rates in North America (up to 25-30% CAGR), Europe, and East Asia (10-12% CAGR), rising from approximately 1.2 million tonnes in 2015 to approximately 2.4 million tonnes in 2020, representing an average global growth rate of 15% CAGR over the forecast period.

In a similar vein to the primary aluminum segment, China is a significant player in the global market for downstream aluminum semi-finished products, both in terms of production and in terms of consumption.

The global demand for semi-finished products is currently estimated to be around 80 million tonnes per year, with China accounting for approximately 36 million tonnes and the rest of the world accounting for 44 million tonnes of demand. The global demand for fiber reinforced plastics (FRPs) is approximately 24 million tonnes (of which approximately 50% comes from East Asia (including China)), and the global demand for extruded products is approximately 26 million tonnes (with 72% coming from East Asia and China). One quarter of the total demand for semi-finished products comes from transportation, aluminium tube with another quarter coming from construction. These two segments of semi-finished product aluminum demand represent the largest segments of the total demand for aluminum. Geographically, China has the highest demand (approximately 45% of total demand), followed by Asia (excluding China), which has 18%, and then Europe and North America, which each have around 15% of total demand. In light of the fact that there is no reliable statistical data, only estimates from some of the leading market research companies, all of which have come up with varying results, these figures are approximate (though quite realistic). In most regions, the transportation (especially light vehicles) and packaging sectors, as well as the manufacturing of pipe and tube, have seen significant demand growth for fiber reinforced plastics.

According to estimates, the market for aluminum auto body sheet in the United States will grow from 100 thousand tons in 2012 to 450 thousand tons by 2015 and 1000 thousand tons by 2020. The global market for aluminum in automotive applications is expected to more than double by 2017, according to a study conducted by the consulting firm Frost & Sullivan. The market is expected to grow from US$ 13 billion in 2010 to US$ 28 billion in 2017. This would be the result of increased pressure on governments in the European Union, the United States, and Japan to adopt new fuel-efficiency standards.

Additionally, aluminium disc is anticipated that the demand for castings in automobiles will decrease proportionally, whereas the demand for flat rolled products will continue to increase during the same period. The demand for castings in North American automobile production could increase by 50% between 2012 and 2025, according to recent CRU research for the industry. However, the percentage of castings in automobiles is expected to decline in the future, while the percentage of flat rolled products is anticipated to increase.

China's exports of semi-finished aluminum products have increased dramatically in recent years, reaching 4.2 million tonnes in 2015, nearly three times the 1.5 million tonnes exported the year before. According to the most recent data available, there is no indication that these exports will differ significantly in 2016 from the previous year. Chinese rolling mills, which number approximately 160 and are growing, have raised their technological standards in recent years in order to compete with the most technologically advanced Western rolling mills. However, the vast majority of manufacturers still lack the technology necessary to produce the high-value-added products that Novelis, Alcoa, Aleris, and other leading manufacturers produce. According to Michael Peter Steffen, spokesman for Hydro Aluminium in Germany, when discussing Hydro's Malaysian premium foil mill, "the exchange of best practices and integrated work with other plants of our company'' play an important role as well, as "the exchange of best practices and integrated work with other plants of our company."

All of the major producers of fiberglass reinforced plastics (FRPs) have invested significant capital in recent years (a total of several billion US dollars) in upgrading and expanding their manufacturing facilities in order to meet increased demand, particularly from the automobile industry and the transportation sector. Recently conducted research into potential future capacity expansions has revealed that China will continue to attract the largest share of investment, though the nature of that investment is likely to change as time progresses in the future. It is reasonable to anticipate that China will make a qualitative and quantitative shift in new capacity toward the production of higher value-added fiber reinforced plastics (FRPs) such as canstock, auto body sheet, and heat treat sheet and plate.



Like
1
Search
Nach Verein filtern
Read More
Other
Electrical & Electronic Computer-Aided Design (ECAD) Market Professional Survey Report 2032
Electrical & Electronic Computer-Aided Design (ECAD) Market Overview The global ECAD market...
Von Larry Wilson 2023-04-26 06:20:27 0 4K
Other
Cloud Managed Services Market Insights - Global Analysis and Forecast by 2032
Introduction: The cloud revolution has transformed the way businesses operate, enabling them to...
Von Larry Wilson 2023-05-25 06:30:29 0 6K
Networking
Propylene Glycol Market, in-Depth Analysis Globally By Top Key Players by Fact MR
During the past year, the industry registered a Y-o-Y increase worth 4.1%. From 2022 to 2032,...
Von Akshay Gorde 2024-03-07 14:18:21 0 3K
Wellness
Step-by-Step Guide to Registering with IP2World
Step-by-Step Guide to Registering with IP2World In the quest for digital privacy and secure...
Von Qocsuing Qocsuing 2024-05-23 01:48:58 0 2K
Other
Ceiling Tiles Market, Revenue Growth Factors & Trends, Key Player Strategy Analysis by Fact MR
The global ceiling tiles market is valued at US$ 8.68 billion in 2023 and is predicted to reach...
Von Akshay Gorde 2024-04-04 13:50:01 0 2K