Pune, India, August 2019, MRFR Press Release/- Market Research Future has Published a Cooked Research Report on the Global Aluminum-Extruded Products Market.
Aluminum extrusion, a technique to transform aluminum alloy into extruded products with a definitive cross-sectional profile, is garnering a colossal market prominence of recent years. As a result, the aluminum-extruded product market is growing with a rapid pace, globally, witnessing a massive demand for high-performance alloys. This booming market is expected to gain colossal accruals over the next few years.
According to Market Research Future (MRFR), the valuation of the global aluminum-extruded products market is projected to reach over USD 87.84 billion by 2030. In its recent study report, MRFR also asserts that the market would register a CAGR of over 6.5% throughout the forecast period (2022-2030). The augmenting demand for aluminum extruded market products in the construction industry is a key driving force behind the growth of the market.
Additionally, factors such as the rapidly growing construction and automotive industries and substantial amounts invested in infrastructural development activities led by the considerable growth in the economy worldwide are supporting the market growth. Also, the rise in consumption of aluminum extruded products driven by the benefits that aluminum extruded products offer, such as ease of fabrication, low maintenance cost, and lightweight, is expected to foster the growth of the market over the recent future.
The rising demand from the automotive industry is likely to boost the size of the global aluminum-extruded products market. Besides, stringent automotive fuel efficiency and emission standards have been favoring the consumption of the product in automobiles due to its high strength, lightweight, and cost-effectiveness. The growing popularity of aluminum-extruded products in electric vehicles (EVs) would create immense growth opportunities for market players.
Aluminum-Extruded Products Market - Segmentation
The report is segmented into four market dynamics to widen the scope of understanding,
- By Product Type: Mill-Finished, Anodized, and Powder-Coated.
- By Alloy Type: 5000 Series, 6000 Series, 7000 Series, 1000 Series, 2000 Series, and 3000 Series Aluminum Alloys.
- By End-use: Construction and Automotive, among others.
- By Regions: Asia Pacific, North America, Europe, and the Rest-of-the-World.
Global Aluminum-Extruded Products Market -
The Asia Pacific region dominated the global aluminum-extruded products market in 2017, accounting for the largest as in 63% market share. The region is further expected to register 7% CAGR throughout the forecast period. Exponential growth in the automotive, as well as building and construction industries in China, India, and Indonesia, attribute to the growth of the regional market. Besides, growing investments in the rapidly developing South-East Asian countries such as Indonesia, Myanmar, and Thailand for infrastructural development would fuel the regional market growth.
The aluminum-extruded products market in the European region accounts for the second-largest market share, globally. In 2017, the region had accounted for 15% of the market share. Stringent regulations pertaining to the emission of greenhouse gases alongside the rising demand in the structural components and battery casings of electric vehicles drive the regional market growth. Continuing with the same trends, the region is likely to register a 5.5% CAGR during the assessment period.
Aluminum-Extruded Products Market - Competitive Analysis
The highly competitive market appears to be diversified with the presence of a large number of internationally acclaimed players. These players focus on optimized situational awareness for commercial and military customers to ensure their mission success. To sustain in this market, these players invest heavily in R&D, global expansion, advanced technologies, and product launches. Players compete against each other on quality, reliability, cost, and aftermarket services of the product. Marketers are tapping emerging markets for expansions. Manufacturers operating in the market of the aluminum-extruded product strive to deliver the finest and most reliable products and to drive to targeted and customer-centric growth.
Players leading the global aluminum-extruded products market include China Zhongwang Holdings Limited (China), Hydro Extruded Solutions (Norway), Arconic (US), Constellium (The Netherlands), Hindalco Industries Limited (India), Century Extrusions Limited (India), Bonnell Aluminium (US), QALEX (Qatar), TALCO (India), and Gulf Extrusions Co. LLC (UAE), among others.
Industry/ Innovation/ Related News:
June 21, 2019 ---- Luminaire LED (the US), an established manufacturer of vandal resistant and confinement lighting solutions for commercial, institutional and transit environments, announced the release of its Blade egress series. Constructed with a marine-grade aluminum extruded housing, polycarbonate lens, and die-cast aluminum end plates, the Blade is protected by Luminaire LED’s lifetime warranty against vandalism. The Blade is a mullion mount, path of egress luminaire with an architectural aesthetic that visually blends into the structure when mounted above a door or walkway.
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