The Aluminum Extrusion market size is projected to be worth USD 115,761.53 Million by 2030, registering a CAGR of 6.30% during the forecast period (2022-2030).
The Global Aluminum Extrusion market size is projected to reach approximately $0.11 Million by 2030, at a CAGR of 6.30% from 2022 to 2030. With the use of a formed opening in a die, aluminum is shaped during the extrusion process. A ram forces the aluminum product through the die shape during the extrusion process, and it emerges with the same shape as the dies. The extruded items are placed on a stretcher to achieve complete straightness after cooling. There are three shapes of aluminum extrusion: solid, hollow, and semi-hollow. In the building and construction, automotive and transportation, and electrical industries, aluminum extrusions are frequently utilized.In October 2022, OpenGate Capital stated that it would be merging Extol, which it had bought in late September, with Aluminium France Extrusion (AFE), a portfolio business since June 2013. This would create Aluminium Solutions Group (ASG). Extol is a specialized aluminum extruder and maker.
COVID-19 Impact Analysis
The outbreak had a considerable influence on global manufacturing processes, trade, and supply chains for chemicals and minerals. Due to market participants' need to close production facilities or run them at less-than-optimal output levels to stop the novel coronavirus from spreading, aluminum extrusion production decreased during the COVID-19 pandemic. Production of aluminum extrusion has also been hampered by the scarcity of raw materials due to supply disruptions brought on by border and trade restrictions.
The largest source of aluminum, the mining industry, has ceased operations globally, which affects the aluminum extrusion business. Due to a decline in logistics, the producers are unable to deliver their products to the application industries. Local communities receive merchandise from the manufacturers. Due to the ease of lockdown in many locations, businesses are developing more hygienic and secure methods of the goods delivery. On the other hand, the suppliers are back in operation, and the avenues of distribution have reopened.
As a result of China's decision to keep its severe covid-19 laws in October 2022, the price of aluminum fell. This dashed hopes that China would loosen its limits on covid-19, which have hindered economic progress. The market had hoped that China would ease its restrictions, but it now looks that China is devoting all of its efforts to maintaining the status quo. The Chinese government has restricted travel and instituted severe quarantine measures in an effort to halt the spread of the coronavirus, which has dampened economic development and metals demand.
Profile Custom Extrusions, LLC is a U.S. manufacturer of custom extruded aluminum profiles and related value-added services such as painting, anodizing, thermal break, and precision cutting. In October 2021, LBC Credit Partners, one of the leading providers of financing solutions to middle-market companies, provided a senior secured credit facility to support the acquisition of the company.
The Aluminum Extrusion Market will be driven by a rise in the need for strong, lightweight extruded items with high corrosion resistance and economic expansion accelerated urbanization and expanding infrastructure projects.
Aluminum extrusion demand is rising as a result of new infrastructure development. A range of infrastructures, including commercial, residential, and public buildings, use aluminum extrusions. Growing investments in the housing sector have an impact on how extruded materials are used, particularly in building activities, and are predicted to increase demand for aluminum extrusion soon.
Bauxite, a type of ore that contains aluminum, is extracted from the earth using open-pit mining techniques. Additionally, the mining, processing, and refining of bauxite to produce aluminum uses a lot of energy and has a negative impact on the environment. Animal and plant life are impacted by mining operations, including both open-pit and underground mines.
Large use of aluminum in the automobile industry
Aluminum content in internal combustion engines is rising, followed by that of electrical vehicles (EVs), which might help the aluminum extrusion market growth throughout the projection period. Electric vehicle parts such as battery housings, E-drivers, inverters, brake parts, and charging stations are frequently made of aluminum. Additionally, because they are lightweight and improve battery performance with time, auto parts composed of metals such as aluminum, magnesium, and advanced high-tensile steel are recommended for use in electric vehicles. This extends the range of the vehicles.Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the third quarter of 2022 for aluminum and energy company Norsk Hydro were USD 888 million, up 27 percent year over year. The Norwegian firm claims that the situation in Ukraine, rising energy costs, and worries about inflation and rising interest rates continue to increase uncertainty and damage growth predictions for 2022 and 2023. While the metal manufacturer reports that demand for scrap-fed aluminum extrusion in the industrial and building and construction sectors "have decreased through the third quarter," growth in automotive demand is increasing slightly due to easing supply chain difficulties.
By Product Type
Based on the Product Type, the global Aluminum Extrusion market has been divided into Mill finished, Anodized, and Powder coated. Mill-finished extrusion accounted for the largest revenue share. Due to the surge in demand for affordable extruded aluminum products for power and automotive applications such as cylinders, blocks, and covers.
By Alloy Type
Based on the Alloy Type, the global Aluminum Extrusion market is divided into 2000 Series Aluminum, 3000 Series Aluminum, 5000 Series Aluminum, 6000 Series Aluminum, and 7000 Series Aluminum. The 7000 Series Aluminum segment holds the largest share as the 7000 series have the highest strength of all aluminum alloys and is used to produce frames in the aero industry.
Based on the Application, the global Aluminum Extrusion market is divided into Building and Construction, Automotive and Transportation, Electrical and Electronics, Consumer Goods, and Machinery. The building and construction segment had the largest revenue share. Aluminum's strong strength-to-weight ratio makes it more suited for massive buildings in earthquake zones. Industrial end users are likely to have the most aluminum extrusion market growth, owing to an increase in demand for lightweight aluminum profiles in a wide range of industrial applications, that is expected to fuel market expansion. Because of its lightweight, excellent corrosion resistance, and high strength-to-weight ratio, aluminum extrusion is predicted to replace conventional materials in many industrial applications.The US facility of Momentum Manufacturing Group-Engineered Extrusions will undergo a second round of expansion. Formerly known by its former name, Vitex Extrusion currently produces specialized aluminum profiles for a wide range of markets. An additional $11 million is being put into the plant to increase output.
Global Aluminum Extrusion Market Share, by Region, 2021 (%)
By region, the global Aluminum Extrusion market has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific accounted for the largest market share. Europe is projected to exhibit the highest CAGR during the review period.
The Aluminum Extrusion market was dominated by Asia-Pacific, which is also expected to develop at the highest rate. the expanding urbanization and rising demand for buildings, notably in the commercial sector, in the Asia-Pacific region's burgeoning economies, particularly in Japan, China, and Southeast Asian nations. In the Asia-Pacific region, China is both the largest producer and user of aluminum extrusion.
Europe is expected to have the fastest growth CAGR rate, owing to the region's big-scale building and construction sector, and even the region's high production and sale of automobiles in nations such as Germany, Russia, and France.With the help of the Aircraft Material Development Association, which consists of over 20 companies, Korea Aerospace Industries (KAI) promised to hasten the localization of high-tech aircraft materials in October 2021. In total, 15 mechanical, electrical, and pipe items and 20 aerospace materials (including aluminum extruded panels, titanium rolled materials, and powders) have been localized as part of this program.
The market comprises tier-1, tier-2, and local players. The tier-1 and tier-2 players have reach across the globe with diverse product portfolios. Companies such as AMG Advanced Metallurgical Group, UAJC Corporation, Constellium, Hindalco Industries Ltd dominate the global Aluminum Extrusion market due to product differentiation, financial stability, strategic developments, and diversified regional presence. The players are focused on investing in research and development. Furthermore, they adopt strategic growth initiatives, such as expansion, product launches, joint ventures, and partnerships, to strengthen their market position and capture a large customer base.
Prominent players in the global Aluminum Extrusion market include UAJC Corporation, Constellium, Norsk Hydro ASA, China Zhongwang Holding Limited, Kaiser Aluminum, Extrudex Aluminum, Gulf Extrusions Co., National Material L.P, AMG Advanced Metallurgical Group, and Hindalco Industries Ltd.
Scope of the Report
Global Aluminum Extrusion Market, By Product Type
Global Aluminum Extrusion Market, By Alloy Type
Global Aluminum Extrusion Market, By Application
Global Aluminum Extrusion Market, By Region
Objectives of the Study
The objectives of the study are summarized in 5 stages. They are as mentioned below:
Market Size and Forecast:
To identify and estimate the market size for the global Aluminium Extrusion market segmented by Product Type, Alloy Type, and Application by value (in US dollars). Also, to understand the consumption/ demand created by consumers of Aluminium Extrusion during the period of 2020-2030
Market Landscape and Trends:
To identify and infer, the drivers, restraints, opportunities, and challenges for the global Aluminium Extrusion market
Market Influencing Factors:
To find out the factors which are affecting the sales of Aluminium Extrusion among consumers
Impact of COVID-19:
To identify and understand the various factors involved in the global Aluminium Extrusion market affected by the pandemic
To provide a detailed insight into the major companies operating in the aluminum extrusion market. The profiling will include the financial health of the company past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
|Market Size||2030: USD 0.11 Million|
|CAGR||6.36% CAGR (2021-2030)|
|Historical Data||2019, 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product Type, Alloy Type, and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||UAJC Corporation, Constellium, Norsk Hydro ASA, China Zhongwang Holding Limited, Kaiser Aluminum, Extrudex Aluminum, Gulf Extrusions Co., National Material L.P, AMG Advanced Metallurgical Group, and Hindalco Industries Ltd.|
|Key Market Opportunities||Large use of aluminum in the automobile industry|
|Key Market Drivers||Economic expansion accelerated urbanization and expanding infrastructure projects|
The study period of global Aluminium Extrusion market is 2020 - 2030
The global Aluminium Extrusion market is growing at a CAGR of ~6.36% over the next 10 years
Europe is expected to register the highest CAGR during 2021 - 2030
The Asia Pacific holds the largest share in 2021
AMG Advanced Metallurgical Group, UAJC Corporation, Constellium , Hindalco Industries Ltd are the major companies operating in the global Aluminium Extrusion market.