Aluminum Extrusion Market Forecasts to 2028 – Global Analysis By Product Type (Rods & Bars, Pipes & Tubes, Shapes), Product Finishing (Anodized, Powder Coated, Mill-Finished), Application, and By GeographyAccording to Stratistics MRC, the Global Aluminum Extrusion Market is accounted for $89 billion in 2022 and is expected to reach $149.26 billion by 2028 growing at a CAGR of 8.9% during the forecast period. Aluminum Extrusion is a method of determining the aluminium with the aid of a shaped breach in a die. In the process of extrusion, a ram move forwards the aluminium product throughout the die shape and it comes out captivating the similar shape of the die. Subsequent to the extruded products are cooled down, they are moved to a stretcher to make them completely straight. Aluminum Extrusion goods are substituting steel products owing to its better physical qualities. Aspects such as recyclable property, lightweight, and better conductivity are the significant factors that are projected to boost the development of the Aluminum Extrusion market in the future years.
According to the latest data from International Aluminium Institute, the global primary aluminium production amounted 63.7 million metric tonnes in 2019, slightly reduced from 64.3 million metric tonnes in 2018. Canada produced an estimated 3.12 million tonnes of primary aluminum in 2020. Canada is the world's fourth-largest primary aluminum producer following China, India and Russia.
Market Dynamics:
Driver:
Increasing Demand for Light-Weight, Durable, and High-Corrosion
Due to the boost in require for lightweight and durable extruded products in different industries, the Aluminum Extrusion market is rising at a stable expansion rate. The elevated demand particularly for the Aluminum Extruded products is high power to weight ratio, to make it model for great constructions and buildings to supply additional strength at fewer weight.
Restraint:
High Capital Costs Associated
The elevated primary costs incurred with Aluminum Extrusion for unit the generally manufacturing component and the little manufacture effectiveness can harmfully obstruct the market growth. As well, the extrusion procedure is slow by evasion. With this aspect, the Aluminum Extrusion market is distressing the general expansion of the market.
Opportunity:
Products Creating Opportunities for Manufacturers and Start-Up Owners
The raise in the demand for stretchable designs for extruded aluminium products, the market is providing opportunity for manufacturers as well as start-up owners to commence their production and be a focus for major clients. With the Aluminum Extrusion procedure, manufacturers can manufacture a variety of products irrespective of size and shape on the identical kit. A solitary part of kit can help to manufacture a numeral of products lacking any additional costs incurred by the machinery.
Threat:
Competition from substitutes
The increasing opposition from substitutes is a main threat for the global Aluminum Extrusion market growth during the forecast period. The preference of consumers and end-users are shifting from Aluminum Extruded products toward additional cost-effective and competitive products. Aluminium-extruded products are suffering to face high competition from alternative products. These products are supposed to boost the commercial value of buildings and homes. Plastics and composite products are some of the most competitive products for aluminium-extruded goods. Thus, the easy availability of substitutes is one of the threatening aspects for the global Aluminum Extrusion market.
Covid-19 Impact
The contact of the Covid-19 epidemic, almost everyone in the world is badly affected by the pandemic. The Aluminum Extrusion market is projected a minor reject by means of the decline in demand for automotive and construction needs, since the total industry was stationed at a point. Different industries, as well as mining and metal industries, halted their operations due to the COVID-19 induced lockdowns. This impacted the growth of the Aluminum Extrusion market in the region during the forecast period. Though, operations in a variety of industries have slowly but surely restarted with a inadequate capacity whereas maintaining social distancing norms, which is anticipated to even out the market growth in the region during the forecast period.
The product segment is expected to be the largest during the forecast period
Based on product segment is divided into rods & bars, pipes & tubes and shapes. The shapes segment anticipated to be the largest during the forecast period. Aluminium has outstanding flexibility, which makes easy to create shapes using the extrusion development. Beneath this procedure, aluminium billets are heated and forced with ram or hydraulic press with high pressure on steel dies. Aluminium billets are worked up and focused through steel dies using a ram or hydraulic press with high pressure. After this procedure, aluminium shapes in the shape of dies are created. Rising demand from the automotive, construction, and consumer goods sectors is a key factor driving the segment growth. The common shapes used are channels, angles, and tubing in building construction for sliding doors, windows, and railings. In the automobile sector, these shapes are used for exterior applications.
The application segment is expected to have the highest CAGR during the forecast period
Based on application, the building & construction segment expected to have the highest CAGR throughout the forecast period. The utilization of extruded products in construction performance is being significantly predisposed by investment in the housing zone. Owing to elevated strength to weight ratio of aluminium, it is extra appropriate for large buildings in seismic areas. Aluminium weighs about one third of the whole weight of copper or steel. Owing to the high strength and weight ratio, Aluminum Extruded products is extensively used in building structure foundations. Increase in population along with rapid urbanization has increased the demand for residential sectors. Thus, the use of extruded products in construction activities has been greatly influenced by investment in the housing sector.
Region with highest share:
Asia Pacific anticipated the global market and is expected to have the largest share during the forecast period. The recommencement of industrial operations post pandemic is planned to supply a thrust to the market growth. Government initiatives concerning economic expansion are projected to assist to get better the regional market. With an ambition to get well from the loss, manufacturers in this region enclose together for the growth of the automotive industry. The quick industrial rebellion in the region led to a boost in order for Aluminum Extrusion products, one of the most utilized products in the industry.
Region with highest CAGR:
North America captured the market to have highest CAGR during the forecast period owing to the surge in industrial operations and the Government initiatives regarding economic developments. The increased usage of Aluminum Extrusions for constructing energy-efficient buildings due to their properties maintains the internal temperature and reduces the energy requirement. Stringent rules about the discharge of greenhouse gases and elevated demand for Aluminum Extruded goods in the structural mechanism and battery casings for electric vehicles are usual to boot the regional bgrowth. All these factors are anticipated to fuel the growth of the Aluminum Extrusion Market.
Key players in the market
Some of the key players profiled in the Aluminum Extrusion Market include Arconic Corp., Hindalco Industries Ltd., Century Extrusions limited, Kaiser Aluminium, Constellium N.V., Aluminium Products Company, Hydro Extruded Solutions, Bonnell Aluminium, Novelis, QALEX, ETEM GROUP, Banco Aluminium Ltd, Bahrain Aluminum Extrusion Co., Alcoa Inc. , Norsk Hydro ASA, Zahit Aluminium, Gulf Extrusions Co. LLC, TALCO, Sainty Industry Co., Ltd, China Zhongwang.
Key Developments:
In September 2018, Hydro Extruded Solutions expanded its manufacturing capacity by building a 96,000-square-foot facility adjacent to its existing plant in Cressona, US.
In December 2020, Hindalco announced the opening of the new production facility at Silvassa to strengthen the company’s market presence over the western and southern regions of India.
In January 2021, Constellium, a manufacturer of extruded products, aluminium rolled products, and structural parts fabricated of a large variety of advanced alloys, and Groupe Renault, a multinational automobile manufacturer in French, entered into partnership for research and development in project for development of sustainable automotive aluminium solutions.
In April 2021, Arconic Corporation purchased the Group annuity contract to reduce the gross pension obligation by USD 1 billion.
In December 2021, Aluminium Products Company signed a treaty to achieve the international copper alliance membership.
In December 2021, Hindalco Industries Ltd acquired Hydro's Aluminum Extrusions business in India. Through this acquisition, the company is focusing on expanding its presence in the upper end of the value added market.
In February 2022, Novelis launched a net zero lab by collaborating with HES-SO Valais-Wallis to develop carbon neutral solutions for aluminium manufacturing. Through this, the company will invest in researching on decarbonizing and is aiming at becoming carbon neutral by 2050.
Products Covered:
• Rods & Bars
• Pipes & Tubes
• Shapes
Finishings Covered:
• Anodized
• Powder Coated
• Mill-Finished
Applications Covered:
• Consumer Goods
• Automotive & Transportation
• Electrical & Energy
• Building & Construction
• Others
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
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