The market for Aluminium Extrusion is expected to reach US$ 75.1 Bn in 2028.
Large scale use of extruded aluminum products in a number of industries is impacting the growth of the aluminum extrusion market on a global level. Aluminum extrusion is the process of melting and transforming aluminum alloy into objects with definitive cross-sectional profiles for a number of industrial as well as domestic uses. For example, extruded aluminum products such as bars, beams, rods, and angles are widely used in the building & construction industry, the electrical industry for transmission and distribution of electricity, and the automotive industry, among others. In addition, the advantageous properties of aluminum like malleability, conductivity, and features like a low price, lightweight, recyclability, and availability of a number of alloys are further assisting the high demand for extruded aluminum products across the world.
Furthermore, industrial development in the Asia Pacific region coupled with rapid urbanization throughout the world has a high requirement for extruded aluminum. In addition, due to the low price of aluminum than steel, there is a growing demand for extruded aluminum, replacing conventional steel with aluminum. This trend could impact the market in the long run.
Moreover, technological development in the extrusion process of aluminum is expected to increase the demand for aluminum further. For instance, in June 2019, Pacific Northwest National Laboratory demonstrated the advanced extrusion process that can produce high-performance, high-ductile al-alloy products in a single stage, thereby; eliminating the several stages required in the conventional process. The aluminum extruded from this process can be used in the automobile industry, where high-strength aluminum alloys used to be avoided due to the high cost incurred. In 2018, the global aluminum extrusion market accounted for US$ 75.1 Bn and was estimated to grow with a CAGR of 5.1% during the forecast period.
Aluminum extrusion is widely used in the building & construction industry owing to its high strength-to-weight ratio, making it the most cost-effective to manufacture, deliver and install compared to steel. Additionally, modern buildings with sustainable features have a high demand for extruded aluminum for energy-efficient buildings.
Moreover, with the revolution of electric & hybrid cars, manufacturers are opting for material that reduces vehicle weight, thereby increasing mileage and performance of the vehicle with less emission. Aluminum extrusion is the best material source available on a global scale with top-quality products. Germany is one of the leading importers of aluminum extrusion, accounting for over one million tons per year. Most of the imported material demand is from the automotive industry.
The Asia Pacific dominated the global market with a global share of around 60% in 2018. The growing requirement of extruded aluminum for infrastructure development in the developing regional countries such as China, India, and ASEAN countries has contributed majorly to the share. Further, the emerging automotive market of electric, hybrid, and battery-powered vehicles in China has positively impacted the market growth in the region. Along with it, top aluminum extrusion companies located in the region, including CHINA ZHONGWANG HOLDINGS LIMITED, Hindalco-Novelis, Jindal Aluminium Limited, and TALCO ALUMINIUM COMPANY, have further affected the market growth in the region. In addition, the solar energy market in China is booming rapidly. According to the World Economic Forum, China is expected to likely propel market growth over the coming years, accounting for nearly 40% of the world's solar panels by 2022.
Furthermore, in Europe, Germany has the highest demand for extruded aluminum, owing to the strong presence of the automotive industry. Whereas demand in the North American region is driven by the building & construction industry.
The overall aluminum extrusion market is fragmented, and market players are focusing on partnerships and acquisitions with other players to boost their market position. Following is the list of companies covered in this report.
The research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. Compounded annual growth rate (CAGR) for each respective segment calculated for the forecast period from 2019 to 2027.
The current report also comprehends qualitative market valuation factors such as key market drivers, market trends, restraints, and opportunities to better understand the global aluminum extrusion market. In addition, the global report also comprises a graphical representation of a competitive landscape based on market initiatives and strategies, product portfolio, and business strengths.
The market for Aluminium Extrusion is expected to reach US$ 75.1 Bn in 2028.
The Aluminium Extrusion market is expected to see significant CAGR growth over the coming years, at 5.1%.
The report is forcasted from 2019-2027.
The base year of this report is 2021.
Norsk Hydro ASA, CHINA ZHONGWANG HOLDINGS LIMITED, Hindalco-Novelis, Arconic, Constellium, Jindal Aluminium Limited, Alcoa Corporation, TALCO ALUMINIUM COMPANY, QALEX,Balexco are some of the major players in the global market.