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Aluminum Extruded Products Market Trends

ID: MRFR//2227-CR | 201 Pages | Author: Priya Nagrale| February 2021

Aluminum Extruded Products Market Overview

The Aluminum Extruded Products Market size was valued at USD 54.55 Billion in 2023. The Aluminum Extruded Products industry is projected to grow from USD 58.01 Billion in 2024 to USD 94.84 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.34% during the forecast period (2024 - 2032). 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.
Aluminum Extruded Products Market Overview


COVID 19 Analysis


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 2024-2030.


Hindalco Industries Ltd. and Metra SpA entered into a partnership agreement in September 2023 to build aluminum rail coaches in India. The Italian company will enable the Indian manufacturer to use the latest aluminum extrusion technologies for building railway coaches.


Norsk Hydro ASA announced its intent to acquire Hueck’s Aluminum in Germany in December 2022. Through this move, Norway’s market leader is now also the owner of German aluminium extrusion and window, façade, and door systems manufacturer, increasing its businesses across Europe. Norsk will have a substantial influence on the German market after this acquisition is completed, and both companies will grow together.


Competitive Landscape


The aluminum-extruded products market growth is soaring high and giving rise to global market competition between 2024-2030. The market is witnessing the prominence of the following global companies:



  • Hindalco Industries Limited (India)

  • Balexco BAHRAIN ALUMINIUM EXTRUSION COMPANY

  • Century Extrusions Limited (India)

  • QALEX (Qatar)

  • Bonnell Aluminium (US)

  • Banco Aluminium Ltd

  • Constellium (The Netherlands)

  • ETEM GROUP

  • TALCO (India)

  • Gulf Extrusions Co. LLC (UAE)

  • China Hongquiao Group Limited (China)

  • Zahit Aluminium

  • Sainty Industry Co., Ltd

  • Alcoa Inc. (U.S.)


Market Dynamics


Drivers


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.


Restraints


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.

December 2023: Sustainability concerns drive innovation in aluminum extrusion. Manufacturers are developing new processes to reduce energy consumption and minimize waste generation during the extrusion process. Additionally, research into low-carbon aluminum alloys is gaining traction


Technology Analysis


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 2024-2030. 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 2030.


Hindalco reported the opening of the new production facility at Silvassa, located over western and southern regions of India, in December 2020, aimed at strengthening the position of the firm on national markets.


This Bipartisan Plan was endorsed by the United States government, allocating $1 trillion towards improving the country's infrastructure, which includes water systems, airports, railroads, power grids, roads, and bridges as of November 2021. The event’s completion in 2025 is expected to boost demand for aluminum extrusion across the globe.


Study Objectives



  • The aluminum-extruded products market report helps in understanding the global functioning of the market followed by the dynamics like growth opportunities and drivers that will help in the functioning of the market in the forecast period. The report also understands the challenges that might restrain the market from growing.

  • The market report highlights the functioning of the market followed by the basis on which the global market is segmented and functioning to meet the rising needs of the target audience in various locations.

  • The aluminum-extruded products market report helps in drawing a global market competition based on the functioning of the markets and the expansion of the market size of different players across the globe during the forecast period ending in 2028.


Segment Overview


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 2024-2030. The global aluminum-extruded products market segments are as follows:


By Product Type:


The aluminum-extruded products market includes products like mill-finished, powder-coated, and anodized types.


By End-use Industry:


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.


By Alloy Type:


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.


Regional Analysis


The aluminum-extruded products market size in the APAC region is expected to acquire a 63% share in the global market during the forecast period. The market segment can experience a surge at 7% CAGR by the end of the forecast period in 2028. The increasing constructional development across countries like China, Indonesia, and India among other APAC regions can boost the regional market expansion. The expansion of the automotive industry infrastructure is experiencing demand from high consumers of aluminum-extruded products that can add to the APAC market expansion rate for the period ending in 2028.


Recent Developments


In September 2023, Hindalco Industries Ltd disclosed that it had signed a technology deal with Metra SpA, which is an Italian company recognized globally for its ability to manufacture structured and high-quality value-added aluminum extrusions.


By August 2023, Hydro was planning to upgrade its Lucé aluminum extrusion facility at a cost of NOK 67 million (about EUR 6 million) while setting aside additional funds for employee training, plant modernization, equipment replacement, and other infrastructure upgrade projects.


Aluminium Bahrain (Alba) recently broadened its family of AA6060 alloys by introducing one more alloy called 6060.HE, in August 2023, will specifically target Alba’s extruder customers’ needs.


In December 2021, Aluminum Products Company took part in the International Copper Alliance membership program.


Arconic Corporation purchased a Group annuity contract priced at USD 1 billion, thereby reducing gross pension obligations for the company by April 2021.


Intended Audience



  • Aluminum-extruded products traders and manufacturers

  • OEMs

  • Manufacturing and production organizations

  • Automotive manufacturers and suppliers

  • Construction companies and organizations


Report Overview


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:



  • Market Overview

  • COVID 19 Analysis

  • Market Dynamics

  • Technology Analysis

  • Study Objectives

  • Segment Overview

  • Regional Analysis

  • Competitive Landscape

  • Recent Developments


The market report discusses the market functioning in the form of segments that will help in increasing the market revenue and the development of a reliable and satisfying target audience. The report covers the factors that give birth to global market competition and the recent developments of the prominent market players, as a part of the global aluminum-extruded products. The report also discusses the impact of the pandemic outbreak on the market functioning during the forecast period.

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