Global Aluminum Extrusion Market Overview
The key drivers impacting the aluminum extrusion market are the growing demand for aluminum content in internal combustion from the automotive & transportation sector and Electrical Vehicles (EVs). There are various benefits of extruded aluminum products, such as high tensile strength, high rigidity, low price, resistance to deformation, lightweight, and recyclability, which make them highly suitable for use in the construction of infrastructure and buildings are estimated to create market demand in the forecast period. Moreover, the growing prominence of automation and lightweight electric vehicles contributes to aluminum extrusion market demand in the later years. Whereas with regards to volume, the market was calculated XX Kilo Tons in 2020 and foreseen to grow with a CAGR of XX% during 2021-2027.
According to Value Market Research, the global Aluminum extrusion market size was valued at USD 58 BN in 2020 and is estimated to expand at a CAGR of about 8% during the forecast period 2021 to 2027.
The increase in demand for lightweight and durable extruded products in various industries will likely augment the need for Aluminum extrusion in the forecast period. Also, technological advancements in pulse oximeter devices positively impact market growth. However, the regulations and accuracy concerns over OTC pulse oximeters hamper the market in the long run. Nevertheless, the market trends, such as the rise in demand for flexible design, might provide considerable opportunities to the market's leading players.
The Aluminum extrusion market is huge, with many international and local players. The market leaders follow different types of strategies to mount their market, such as extending product portfolio, contracts, amalgamation, acquisitions, product upgrades to raise their market share globally. The key players in the report are Hindalco Industries Ltd., China Zhongwang, Aluminium Products Company, Norsk Hydro ASA, Gulf Extrusion Co. LLC., QALEX, Arconic Corp., Bahrain Aluminium Extrusion Co., and Constellium N.V.
In this research report, the Aluminum extrusion market is segmented by product, application, and region.
Analysis by Product:
By product, the report is segmented into shapes, rods & bars, and pipes & tubes. The shapes segment dominates with the highest market share of 81% in 2020. It is due to the Aluminum has excellent malleability, which makes it easy to produce shapes using the extrusion process. Moreover, shapes are used in chassis, roof rails, panels, transmission housings, and engine blocks for trucks, cars, boats, and railways, which contribute to the growth of the purified water segment in the forecast period.
Analysis by Application:
By End-use, the report is segmented into automotive & transportation, building & construction, consumer goods, electrical & energy, and others. The building & construction segment dominates the end-user segment with the highest market share of 61% in 2020. It is due to the extensive use of extruded products in construction activities that have been majorly driven by investment in the housing sector. Moreover, growing urbanization and industrialization are contributing to the high demand for building & construction.
Analysis by Region:
In the regional outlook of the global Aluminum extrusion market, the Asia Pacific region dominates with the largest market share of 75% in 2020. It is due to the presence of the rapidly growing construction sector across China and India. Moreover, major manufacturing sectors in countries such as China, India, Vietnam, Japan, and South Korea contributing to the tremendous market growth across the Asia Pacific.
Market Segmentation covered in the Report:
- Rods & Bars
- Pipes & Tubes
- Automotive & Transportation
- Building & Construction
- Consumer Goods
- Electrical & Energy
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
This market research report has been produced by gathering information on the basis of primary and secondary research. Secondary research has been done by using various sources which include (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications.
If specific information is required which is not currently within the scope of the report, it can be provided as a part of customization.