Aluminum Extrusion Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET ANALYSIS

Aluminum extruded products are manufactured by forcing heated aluminum alloy material through a die with a specific cross-sectional profile. These include pipes and tubes, rods and bars, angles and panels, engine blocks, roof rails, chassis of vehicles, among others. Aluminun extruded parts come with different finishes such as mill finished, anodized, powder coated, mechanical finish, among others. They are widely used in various end-use industries such as construction, automotive, aerospace and defense, energy, and power, and electrical and electronics.

GROWTH DRIVERS AND CHALLENGES

The growing demand for aluminum extruded products across various end-use industries especially construction, automotive and aerospace, and energy and power is one of the key factors driving the aluminum extrusion market growth. The rising sustainability concerns is driving the demand for lightweight automotive parts. Aluminum extrusion helps in designing lightweight yet high strength automotive parts. Also, these parts are highly resistant to corrosion and abrasion. These properties are driving the demand for aluminum extruded products across the automotive industry.

Similarly in the construction sector, aluminum extruded parts are being used extensively due to their durability, high corrosion resistance, high chemical and stability, and aesthetic appeal. Further, in the energy and power sector, aluminum extruded products are widely used in solar and wind sector as they are resistant to extreme weather conditions such as rain, storms, and humidity. Thus, growing usage of aluminum extruded products across various end-use industries due to their favorable properties is driving the growth of the aluminum extrusion market.

REPORT SEGMENTATION AND SCOPE

The "Global Aluminum Extrusion Market Analysis to 2031" is a specialized and in-depth study with a major focus on the global aluminum extrusion market trends and growth opportunities. The report aims to provide an overview of the global aluminum extrusion market with detailed market segmentation by product type, finish type, end-use industry, and geography. The global aluminum extrusion market has been witnessing high growth over the recent past and is expected to continue this trend during the forecast period. The report provides key statistics on the consumption of aluminum extrusion worldwide along with their demand in major regions and countries. In addition, the report provides the qualitative assessment of various factors affecting the aluminum extrusion market performance in major regions and countries. The report also includes a comprehensive analysis of the leading players in the aluminum extrusion market and their key strategic developments. Several analyses on the market dynamics are also included to help identify the key driving factors, market trends, and lucrative aluminum extrusion market opportunities that would, in turn, aid in identifying the major revenue pockets.

Further, ecosystem analysis and Porter’s five forces analysis provide a 360-degree view of the global aluminum extrusion market, which helps understand the entire supply chain and various factors affecting the market growth.

SEGMENTAL ANALYSIS

The global aluminum extrusion market is segmented on the basis of product type, finish type, and end-use industry. Based on product type, the aluminum extrusion market is segmented as pipes and tubes, rods and bars, angles and panels, and others. The aluminum extrusion market is categorized on the basis of finish type into mill finished, powder coating, anodizing, and others. Based on end-use industry, the aluminum extrusion market is segmented into automotive and aerospace, construction, energy and power, electrical and electronics, healthcare, and others

Based on end-use industry, the construction segment accounted for a significant market share in 2022. Nowadays, sophisticated architecture relies heavily on aluminium extrusions. Aluminium extrusions are used in load-bearing structures, facades, claddings, windows, shop fronts, partitions, curtain walling, patent glazing, conservatories, glass houses, roofing scaffolding, architectural hardware, expansion joints, solar panel frames, etc. The global construction industry is growing at a rapid pace due to rising population, increasing urban population, and rising government and private sector investments for infrastructural development. Thus, the growth of the construction industry coupled with increasing demand for aluminum extrusions across the industry are driving the market growth.

REGIONAL ANALYSIS

The report provides a detailed overview of the global aluminum extrusion market with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. Asia Pacific hold the significant share in the aluminum extrusion market in 2022. Countries such as China and India are among the largest producers of aluminum extrusion products across the globe. Also, the automotive, construction, and energy sectors in the Asia Pacific countries are emerging strongly. These factors provide strong growth potential to the aluminum extrusion market across Asia Pacific over the forecast period.

INDUSTRY DEVELOPMENTS AND FUTURE OPPORTUNITIES

Partnership, acquisitions and new product launches were found to be the major strategies adopted by the players operating in the global aluminum extrusion market.

In December 2019, Hindalco Industries Limited acquired Hydro’s aluminum extrusions business in India with an aim to serve robust portfolio of reputed customers across the country

 In November 2021, Extruded Aluminum Corporation invested US$ 30.4 million to expand its manufacturing facility in Michigan, the US.

IMPACT OF COVID/IMPACT OF GEOPOLITICAL SCENARIO/IMPACT OF RECESSION

The covid-19  The COVID-19 pandemic adversely impacted the global economy and slowed the growth of various industries. The shutdown of multiple manufacturing plants and factories in North America, Europe, Asia Pacific, South & Central America, and the Middle East & Africa affected the global supply chain and negatively impacted the manufacturing, delivery schedules, and sales of various goods. Further, various companies announced possible delays in product deliveries and a slump in sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia Pacific, and North America affected business collaborations and partnership opportunities. All these factors negatively affected the growth of the aluminum extrusion market across the globe. The construction industry was also hampered as some infrastructure projects as well as residential constructions were cancelled or postponed. This factor resulted in decline in demand for construction materials and parts including aluminum extruded products, hampering the market growth. However, with the introduction of vaccine and relaxation of restrictions by the governments, the marketplace witnessed recovery. Manufacturers started working with full capacity which helped them to overcome the demand and supply gap.

COMPETITIVE LANDSCAPE AND KEY COMPANIES

Some of the key players operating in the aluminum extrusion market include Banco Aluminium Limited, Jindal Aluminium Limited, Norsk Hydro ASA, Arconic, Constellium, Gulf Extrusions Co. LLC., Aditya Birla Management Corporation Pvt. Ltd., Century Aluminum Company, Capital Aluminium Extrusions Limited, and Hulamin Limited  among others.

REGIONAL FRAMEWORK

Aluminum Extrusion Market Report Analysis

MARKET PLAYERS

Aluminum Extrusion Market Report Scope