ID: MRFR/CnM/2227-CR | February 2021 | Region: Global | 201 Pages
Aluminum Extruded Products Market is projected to be worth 87.84 billion by 2030, registering a CAGR of 7.50% during the forecast period (2022 - 2030).
$87.84 billion
7.50%
Asia Pacific
2022 - 2030
Aluminum Extruded Products Market Overview
Market Research Future (MRFR) assessed the Aluminum Extruded Products Market 2020 till the review period 2025. As per MRFR findings, the aluminum extruded market can rise at 7.50% CAGR by 2030. The aluminum extruded products market size can touch USD 87.84 Bn by 2030. Aluminum extrusion is the process that is used for creating parts that have specific cross-sectional profiles by pushing heated alloy through a die that allows shapes, such as; semi-hollow, solid, and hollow. These shapes can simple or complex.
The sudden and unexpected outbreak of the COVID-19 pandemic is emitting a majority of unprecedented impact on the world, and is further, impacting the industrial production and manufacturing ability of the global aluminum-extruded products market on a large scale. The aluminum-extruded products and the propelling industry is observed to face losses due to the disruption caused by the pandemic. The top-notch end-use industries that are working as a part of the product market are also facing a time of crisis that has been imposed by the pandemic. The decline in the demand for the metal is hampering production due to the major drop in demand that is backed by the lack of workforce and skilled labor because of the widespread lockdown imposed. These issues have given rise to a critical influence on the market. The arrival of the pandemic for the aluminum-extruded products is inclusive of several issues that the market is face and encounter, with cost-effective solutions.
The rising innovation with the help of rising investments and funds is likely to help the market grow and help the target audience choose better, fresh, and innovative market products during the forecast period of 2021-2028.
The aluminum-extruded products market growth is soaring high and giving rise to global market competition between 2021-2028. The market is witnessing the prominence of the following global companies:
The growing degree of demand for aluminum in the construction sector is likely to support the market expansion during the forecast period of 2021-2028. The high degree of consumption of aluminum-extruded products in the expanding construction infrastructure and sector can have the potential to support the global expansion of the market. There has been a rising demand for these products in the automobile sector and market domain as well that can also favor expansion of the market in upcoming years of the forecast period.
However, the lack of resolution of environmental and occupational hazards that are associated with the processes of mining of bauxite for the process involving aluminum extraction can restrain the aluminum-extruded products market growth predicted for the forecast period by the industry experts and market leaders. Moreover, the rising defects in the extruded products during the manufacturing and production are impacting the overall operational costs that are likely to pose major challenges to the market growth during the forecast period.
The rising investments in technology for the aluminum-extruded products market revenue is likely to help the market with excellent results during the forecast period. The market is witnessing the growing popularity of electric vehicles in the global market that is likely to boost the growth opportunities for the forecast period of 2021-2028. Technology is being coupled up with the market manufacturing and production processes that will have a positive impact on the market. Also, the increasing demand for electric vehicles is understood to require a high degree of aluminum-extruded products can present the market with favorable opportunities during the forecast period that will be ending in 2028.
The aluminum-extruded products market share has been enhancing on a global scale as the performance of the market segments has been exceptional during the ongoing forecast period of 2021-2028. The global aluminum-extruded products market segments are as follows:
The aluminum-extruded products market includes products like mill-finished, powder-coated, and anodized types.
The aluminum-extruded products market is helpful for the functioning of industries like Construction, Automotive, Electric and electronics, Machinery & equipment, Mass transport, and others like energy, telecom, and consumer durables.
The global market makes use of various kinds of alloys like 1000 series aluminum, 2000 series aluminum alloy, 3000 series aluminum alloy, 5000 series aluminum alloy, 6000 series aluminum alloy, and 7000 series aluminum alloy.
The aluminum-extruded products industry report conducts a huge and in-depth market analysis that will help in predicting the growth scale for the market during the forecast period of 2022-2030. The market report studies the market with the following market aspects:
Report Attribute/Metric | Details |
---|---|
Market Size | USD 87.84 billion |
CAGR | 7.50% (2022-2030) |
Base Year | 2021 |
Forecast Period | 2022 to 2030 |
Historical Data | 2019 & 2020 |
Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
Segments Covered | By Product Type, Alloy Type, End-Use Industry and Region |
Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
Key Vendors | Hydro Extruded Solutions (Norway),China Zhongwang Holdings Limited (China), Arconic (US), Hindalco Industries Limited (India), Constellium (The Netherlands),Century Extrusions Limited (India),QALEX (Qatar),Bonnell Aluminium (US),Gulf Extrusions Co. LLC (UAE),TALCO (India),Balexco BAHRAIN ALUMINIUM EXTRUSION COMPANY,Zahit Aluminium, ETEM GROUP, Sainty Industry Co., Ltd, Banco Aluminium Ltd |
Key Market Opportunities | Growing Popularity of Electric Vehicle to Boost Growth Opportunities |
Key Market Drivers | Growing Demand for Aluminum in Constriction Sector to Support Market Expansion |
Aluminium-extruded products market projected to grow at a 7.50% CAGR between 2022-2030.
Aluminium-extruded products market is predicted to touch USD 87.84 billion by 2030.
The Asia Pacific is expected to lead the aluminium-extruded products market.
The construction segment will have the largest share in the aluminium-extruded products market.
The mill-finished segment will lead the aluminium-extruded products market.