ID: MRFR/CnM/2227-CR | April 2019 | Region: Global | 201 pages
Market Research Future (MRFR) assessed the Global Aluminum Extruded Products Market 2020 till the review period 2025. As per MRFR findings, the global aluminum extruded market can rise at 6.5% CAGR by 2025. The global aluminum extruded products market size can touch USD 68.5 Bn by 2025. 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 COVID-19 pandemic is exhibiting unprecedented impact on the world, impacting industrial production on a global scale. Aluminum extruded products industry is also observed to face disruption due the pandemic disruption. Top-notch end-use industries that are functioning in the aluminum extruded products market are also facing crisis imposed by the pandemic. The decline in metal production due to drop in their demand and lack of workforce under the widespread lockdown have casted critical influence on the market. The COVID 19 assessment for the global aluminum extruded products market by MRFR details several issues that the market is expected to encounter, with effective solutions.
Growing Demand for Aluminum in Constriction Sector to Support Market Expansion
The high consumption of aluminum extruded products in the expanding construction sector can support expansion of the market. The rise in demand for these products in the automobile domain can also favor expansion of the market in the years to come.
Growing Popularity of Electric Vehicle to Boost Growth Opportunities
The increase in demand for electric vehicle that required high aluminum extruded products can favor the market.
Issues with Occupation Hazards to Hinder Market Growth
The lack of resolution of environmental and occupational hazards associated with mining of bauxite for aluminum extraction can restrain the market growth. Moreover, defects in extruded products during production impacting the overall operational cost can pose challenge to the market.
By Product Type
The mill-finished segment can secure about 40% share of the global market by 2025. The mill-finished segment can rise at a 5.5% CAGR over the review tenure. The rise in cognizance about multiple properties of cost-effectiveness and high strength of mill-finished products is creating its demand across construction and automotive industries. The exceptional performance of mill-finished products in low and high temperatures and humidity can also add to the market surge in the analysis tenure.
By Alloy Type
The 6000 series aluminum alloys segment can thrive in the global aluminum extruded products market. The segment can acquire about 42% share of the overall market. The 6000 series aluminum alloy segment can earn about USD 17.01 Bn by 2025. The expansion of this segment can thrive due to increase in awareness about versatility, high strength, and superior corrosion resistance properties of 6000 series alloy can add to the segment upsurge.
The construction segment can acquire about 44% share of the global market. The segment can thrive at 6.63% CAGR through the review years. Aluminum extruded products offer excellent soundproof and structural integrity at affordable price. The increase in awareness about these properties among reputed builders can cause expansion of the construction segment. The rise in utility of aluminum extruded products for new construction projects, residential, airports, and commercial buildings can aid to the segment rise.
APAC Market to Surge at 7% CAGR by 2025
The aluminum extruded products market in the Asia Pacific region can acquire 63% share of the global market. The segment can surge at a 7% CAGR by 2025. The increase in constructional development across China, Indonesia, and India among other APAC regions can boost the regional market upsurge. The expansion of the automotive industry, which is one of the high consumers of aluminum extruded products can add to APAC market expansion. The increase in investments for infrastructural development across developing economies can further drive regional market growth.
Europe Market to Gain Considerable Momentum
In Europe, the aluminum extruded product's market can secure about 15% share of the worldwide market. The market in EU can expand at 5.5% CAGR across the evaluation period. The enforcement of strict regulations on vehicular and greenhouse gas emissions can contribute to the rise of EU market. In addition, the growing demand for different commodities required as battery enclosures and structural components in electric vehicles can fuel the rise of the regional market.
MRFR listed some of the well-established companies that are operating in the aluminum extruded products market. The competitive intelligence of the aluminum extruded product's market discusses financial analysis, product benchmarking, and market share analysis. Moreover, critical developments and strategic of the marketers are detailed, along with joint ventures, mergers & acquisitions, and product launches among others. Growth opportunities and contribution of these players to the regional expansion of the market are explained in the report.
List of Key Companies Covered in this Report
The report offers market estimates, analysis, and sizing for the smokeless tobacco market in detail through market segment analysis. The regional trends of the aluminum extruded products market and other technological developments are also detailed in the report.
By Product Type
By Alloy Type
Frequently Asked Questions (FAQ) :
Aluminium-extruded products market projected to grow at a 6.5% CAGR between 2019-2025.
Aluminium-extruded products market is predicted to touch USD 68.5 billion by 2025.
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.