Aluminum Extrusion Market By Type (Mill-finished, Anodized, Powder coated) , By End-use Industry (Building and Construction, Electrical and Electronics, Automotive and Transportation, Industrial, Others) : Global Opportunity Analysis and Industry Forecast, 2024-2033
Aluminum Extrusion Market
The aluminum extrusion market was valued at $93.4 billion in 2023 and is projected to reach $198.1 billion by 2033, growing at a CAGR of 7.8% from 2024 to 2033.
Aluminum extrusion is a manufacturing process in which aluminum alloy material is passed through a die to create objects with a fixed cross-sectional profile. The objects produced through this process remain lightweight, yet highly durable, flexible, and corrosion resistant. Extrusion enables the manufacturing of objects with complex shapes and sizes such as solid, hollow, structural, and custom. The objects developed through aluminum extraction find applications in several industries, including construction, aerospace, automotive, electronics, and industrial equipment.
Increase in the use of aluminum objects in architectural elements of buildings such as windows, doors, and curtain walls is driving the growth of the aluminum extrusion market. In addition, inclination of the automotive industry toward lightweight objects is fueling the demand for objects designed using the extrusion process, thereby propelling the development of the market. Furthermore, the ability of the extrusion process to create customized designs augments the market development. A key trend gaining prominence in the market in recent times is the use of additive manufacturing to create extrusion dies. This technology enables the construction of dies with complex shapes & dimensions in short durations and less expenditure. This reduces the overall costs associated with aluminum extrusions.
However, volatility in the prices of raw materials and disruption in the supply chain result in production delays & high costs of aluminum extrusions. These factors act as major restraints for the aluminum extrusion market. Moreover, extrusions face stringent competition from other competent materials such as composites, thereby hampering the development of the market. On the contrary, the sustainability and energy efficiency attributes of aluminum are poised to present lucrative opportunities for the aluminum extrusion market due to global shift toward sustainability. According to the International Energy Agency, the number of countries that have committed to achieving net zero emissions has increased notably over the last year and now comprises approximately 70% of global emissions of carbon dioxide. These commitments are poised to open new avenues for the aluminum extrusion market as the lightweight property of aluminum facilitates energy consumption in various applications, including automotive, aerospace, and smart homes.
Segment ReviewThe aluminum extrusion market is segmented into type, end-use industry, and region. On the basis of type, the market is divided into mill-finished, anodized, and powder-coated. According to end-use industry, it is categorized into building & construction, electrical & electronics, automotive & transportation, industrial, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key FindingsOn the basis of type, the anodized segment is witnessing the highest growth in the market.
According to end-use industry, the building & construction segment dominated the market in 2023.
Region-wise, Asia-Pacific was the highest revenue generator in 2023.
Competition AnalysisThe major players in the global aluminum extrusion market include Bahrain Aluminium Extrusion Co. (BALEXCO), JINDAL ALUMINUM LIMITED, Hindalco Industries Limited, GALCO GROUP, Kaiser Aluminum Corporation, Arconic Corporation, CENTURY EXTRUSIONS LIMITED, Aluminium Products Company (ALUPCO), Constellium N. V., and China Zhongwang Holdings Ltd. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships to strengthen their foothold in the competitive market.
Key Market SegmentsBy TypeMill-finished
Anodized
Powder coated
By End-use IndustryBuilding and Construction
Electrical and Electronics
Automotive and Transportation
Industrial
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
South Africa
Saudi Arabia
Rest of LAMEA
Key Market PlayersBahrain Aluminium Extrusion Co. (BALEXCO)
JINDAL ALUMINUM LIMITED
Hindalco Industries Limited
GALCO GROUP
Kaiser Aluminum Corporation
Arconic Corporation
CENTURY EXTRUSIONS LIMITED
Aluminium Products Company (ALUPCO)
Constellium N. V.
China Zhongwang Holdings Ltd