Market Synopsis
Aluminum-Extruded Products Market Size is projected to be worth 87.84 billion by 2030, registering a CAGR of 7.50% during the forecast period (2022–2030).
Aluminum extrusion is an advanced method used for transforming aluminum alloys into several unique products for industries and consumers. This method is used to develop objects that have a certain cross-sectional profile by forcing the material via a die of the cross-section.
Aluminum extrusions find widespread deployment in automotive, electronics, bridge decking, mass transit, solar/renewable energy, and telecommunications industries. Three types of shapes are generally extruded, namely hollow, semi-hollow, as well as solid.
Market Competitive Landscape:
The important companies in the aluminum extrusion industry are
- Constellium
- UAJC Corporation
- Norsk Hydro ASA
- Kaiser Aluminum
- China Zhongwang Holding Limited
- Extrudex Aluminum
- National Material L.P.
- Gulf Extrusions Co. LLC
- AMG Advanced Metallurgical Group
- Hindalco Industries Ltd.
- SMS Schimmer
- Allegheny Technologies Inc
- American Aluminum Extrusion LLC
- International Extrusion Corporation
- BRT Extrusions Inc.
Hulamin Ltd In February 2022, Novelis introduced a net-zero laboratory by joining hands with HES-SO Valais-Wallis for the development of carbon-neutral solutions pertaining to aluminum manufacturing. With this, the company will spend on research on decarbonizing, with the aim to become carbon neutral by 2050.
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Report Scope:
Market USP Covered:
Market Drivers:
Mounting concerns with regard to carbon emissions as a result of mining as well as extraction activities have fostered the use of alternative raw materials, like aluminum. The NHTSA has implemented stringent emission regulations over the years. These regulations determine the stringency of the carbon dioxide standards, which has resulted in a rise in the fuel economy by 1.5% from 2021 to 2026. This should result in an augmented demand for a variety of aluminum components in the automotive industry in subsequent years.
The aerospace defense, and construction industries are some of a few other prominent end-users of aluminum. The surge in the number of construction activities worldwide has led to a higher need for various aluminum products. Also, the low weight and costs of extrusion products contribute to their significant demand in numerous industrial applications, particularly in the aerospace defense and construction sectors.
Market Restraints:
Substantial setup costs along with the low production rate can be a major challenge for aluminum extrusion companies in the market. Owing to the slow and complicated extrusion process, a continuous and optimum production level is rarely achieved.
Nonetheless, the heightened demand for flexible design can give rise to attractive opportunities for aluminum extrusion market vendors in the following years.
COVID 19 Analysis
The aluminum extrusion industry has been considerably affected by the COVID-19 outbreak. Given the pandemic scenario, numerous countries had to go under a lockdown, to control the rising cases. Owing to this, the demand and supply chain have been disrupted, which has affected the worldwide market. x
The volatile costs of raw materials coupled with the COVID-19 pandemic have restricted the growth rate of the global market. On the bright side, the situation is getting back to normal, which means that the market in the future will see better growth. Also, the emergence of vaccines for the novel coronavirus and the reopening of several recycling units worldwide would result in the re-initiation of the aluminum extrusion Growth Projections at its full-scale capacity.
Market Segmentation
By Product Type
Anodized, Mill finished, and Powder coated are the top product types considered in the study.
By Alloy Type
7000 Series Aluminum, 3000 Series Aluminum, 2000 Series Aluminum, 6000 Series Aluminum, and 5000 Series Aluminum are the major alloy types studied in the report.
By Application
Machinery, automotive and transportation, building and construction, consumer goods, electrical and electronics, and others are the major segments, depending on application. The building and construction industry has gained the top spot in the market, given the extensive deployment of extruded products in various construction activities, in view of the rising spending on the housing sector. The biggest construction industry is in China, considering the country’s tendency to spend heavily on new housing development. The second position has been garnered by the automotive and transportation sector, which will also capture a lucrative growth between 2020 and 2030.
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