The value of the Aluminum Extrusion market is projected to grow to USD 126.85 billion with an estimated CAGR of 8.1% by 2030
The aluminum extrusion process converts aluminum alloys into products that have a cross-sectional profile. It produces maximum amount of aluminum’s unique set of physical characteristics. The aluminum extrusion process does not produce any hazardous gases and is 100% recyclable.
The aluminum extrusion market share is growing due to the growing demand in industries like automotive, construction, aerospace and defense and the increased demand durable light-weight products. Aluminum extrusion is rapidly replacing steel in automobile industry owing to its strength and stability, especially when alloyed with other metals. Another factor influencing the growth of global aluminum extrusion market size, are its lightness of weight and low fuel consumption.
Growing government support towards use of aluminum extrusions in building integrated photovoltaic (BIPVs), is also helping the growth of aluminum extrusion market share. This is also influenced by the growth in construction industry for commercial and residential projects. Other factors influencing market growth are power generation, air conditioning units and distribution equipment’s. The changing lifestyle of people along with increased spending power is overall effecting the market growth.
Aluminum extrusion market trends 2018, indicate growing demand for green buildings will be the major reason for market growth. Aluminum extrusion is mainly used in doors and windows as they are in-line with the global standard of green buildings. Growth owing to the benefits of aluminum extrusion and its environmental benefits like controlling CO2 emissions.
However, at the same time there are lower cost-effective alternative available for aluminum extrusion, is a factor that is restricting the growth of global aluminum extrusion market size.
Segmentation of aluminum extrusion market share is done on type of product, end use and region. Segmentation on the basis of product type is powder coated, mill finished, and anodized. Among these product types the segment of mill finished product contributes almost 60% to the market share. Segmentation on the basis of end-use is electrical, construction and building, consumer durables, machinery and equipment, and transportation industry. Among the end-user segments the building and construction segment contributes the maximum market share.
Segmentation on region is done as Latin America, North America, Asia Pacific, Europe, and Middle East & Africa. The Asia-Pacific region gives a major share in the market, due to its growing economies like Japan, China and India. Asia-Pacific is closely followed by Europe, owing to the vast automobile industry that is present in the region and growing usage in industries.
Key players in global aluminum extrusion market share are operating in the competitive landscape of aluminum extrusion market include Al-Taiseer Aluminium Factory, Hulamin Extrusions, Balexco, YKK Corporation of America, Tajik Aluminum Company (TALCO), ALCOA Inc., Zahit Aluminum, Hydro Aluminum, Gulf Extrusions, Constellium, Hindalco-Novelis, and many others.
Aluminum Extrusion Market Scope
|Revenue forecast in 2030
|USD 126.85 billion
|CAGR of 8.1 % during 2020-2030
|By Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|Hindalco Industries Ltd.; Arconic Corp.; Norsk Hydro ASA; Constellium N.V.; Kaiser Aluminum; Alupco; Gulf Extrusions Co. LLC; Balexo Bahrain Aluminium Extrusion Company; QALEX
Key segments of the global Aluminum Extrusion market
by Application (USD Billion)
• Building & Construction
• Automotive & Transportation
• Consumer Goods
• Electrical & Energy
Regional Overview, (USD Billion)
• North America
o Rest of Europe
o Southeast Asia
o Rest of Asia-Pacific
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
• Central & South America
o Rest of South America