Pune, India, August 2021, MRFR Press Release/Market Research Future has published a Half- Cooked Research Report on the Global Aluminum Extrusion Market.
According to the MRFR analysis, the global aluminum extrusion market is projected to reach a market value of over USD 93 billion by the end of 2028 at a CAGR of over 7%.
Aluminum extrusion is a process used to transform aluminum alloy into extruded products with definitive cross-sectional shapes for various applications. The malleability of the aluminum allows it to be easily machined and cast into extruded products of complex shapes. Custom aluminum extruded products last longer than products made from other materials such as plastic, steel, or other metals. This is mainly due to the high strength of aluminum, its lightweight, and corrosion resistance.
Largescale consumption of aluminum extruded products in the construction sector in Asia-Pacific, owing to increasing investments in the region for infrastructural developments and rapid urbanization, is the prominent factor driving the global market growth. Moreover, the increasing demand for the products in the automotive industry to manufacture lightweight fuel-efficient vehicles is also expected to boost the growth of the global market. Aluminum extruded products are used in the automotive industry to manufacture bumper systems, door beams, exterior parts, and frame members, owing to their high strength and excellent corrosion resistance properties. Furthermore, the product is also widely used in the aerospace, energy, and electronics & electrical industries. The healthy growth of these industries across the globe is likely to contribute to the global market growth during the forecast period.
Access full report @ https://www.marketresearchfuture.com/reports/aluminum-extrusion-market-10688
By Product Type
- Mill-Finished: Mill-finished aluminum extrusions arebare aluminum or natural finish aluminum extrusions that emerge from the extruder die. These extrusion products are without any surface treatment and are widely used in construction and automotive industries for inner decoration and inner parts of the finished products. They deliver superior performance in extreme conditions of high and low temperatures and humidity.
- Anodized: Anodized aluminum extrusion products have uniformity of finish (with no mill marks or lines), durability, and high abrasion resistance. Anodizing provides a deep, rich metallic luster appearance thatis unaffected by sunlight, including ultraviolet rays. Anodized aluminum extrudedhasexcellent color sustainability due to the sealing process during anodizing.
The anodized segment held the second-largest share of the market,in 2020, at 30%.
- Powder-Coated: The powder-coated aluminum extruded products are gaining high popularity owing to theireco-friendly nature, thick coating, aesthetic appeal, lack of volatile organic compounds (VOCs), long product life, and lessenergy costs. Powder-coating increases protection from heat, corrosion, and abrasion and can be considered an excellent alternative for creating a functional and aesthetic finish for aluminum extruded products. These products find applications in aircraft, furniture and construction, exercise equipment, and vending machines.
By End Use
- Automotive & Transportation: The automotive & transportationsector is projected to be the fastest-growing end use segment forthe aluminum extrusion market during the forecast period.In the automotive & transportation industry, aluminum extrusions are widely usedin engine blocks, transmission housings, roof rails, panels, and chassis of cars, boats, trucks, and railway and subway cars, as well as for the bodies and parts of vehicles. Moreover, the demand for aluminum extrusions as structural components in the manufacture of lighter-weight automobiles is increasing.
- Building & Construction:Extruded aluminum is widely used in lighting fixtures, elevator shafts, and stairwells. Additionally, extruded aluminum products aid the increasing the aesthetic appearance ofthe interior of the building.
- Electrical & Electronics: Aluminum extruded products are used in various electrical and electronics applications such as heat sink, computer cases, power units, bus bar and connectors for industrial power distribution, conduit, motor housings, electronic chassis, racks and housings among others.
- Others: the others segment include consumer goods, industrial, etc.
Some of the key players operating in the global aluminum extrusion market areConstellium (France), Norsk Hydro ASA (Norway), Arconic (US), Hindalco Industries Limited (India), China Zhongwang Holdings Limited (China), QALEX (Qatar), ETEM GROUP (Greece), ThöniIndustriebetriebe GmbH (Germany), EMERUS (Bosnia and Herzegovina), ALUMIL S.A. (Greece), ST Extruded Products Germany GmbH (Germany), and Bonnell Aluminum (US).
Some of the key players operating in the global aluminum extrusion market are making strategic initiatives to expand their market position. For instance, in June 2020, Constellium announced the expansion of its plant in Germany, with an additional aluminum extrusion press to supply automotive customers in Europe. The company has planned to build a dedicated 8,000 sq m hall on its Singen campus with an expected start of production in mid-2020. This new extrusion press will not only increase the capacity but also advance the company’s efficiency and capability. The facility provides a range of complex, high-strength extrusions of all sizes, shapes, strengths, and gauges for its automotive programs, as well as its rail, transportation, and industrial customers.
- North America:The growing automotive & transportation sector is fueing the growth of aluminum extrusion market.
- Europe:The major contributors to the regional market growth are theWestern European countries,such as Germany, France, and Spain.The established building & construction industry is expected to support the growth of the regional market during the forecast period.
- Asia-Pacific:Asia-Pacific isprojected to be the fastest-growing regional market for aluminum extrusions during the forecast period. China and India are the leading country-level markets in the region.
- Latin America: Brazil, Mexico and Argentinaplays an important role in promoting aluminum extrusion market growth through its extensive electronics and construction sector.
- Middle East & Africa: The rapid growth of the construction sector in the GCC countries is likely to fuel the demand for aluminum extrusions in the Middle East in the coming years.