info@marketresearchfuture.com 📞 +1 628 258 0071(US)  ðŸ“ž +44 2035 002 764(UK)
Aluminum Extrusion Market Research Report—Global Forecast till 2030

Aluminum Extrusion Market Reserach Report Information By Product Type (Mill finished, Anodized, Powder coated) Alloy Type (2000 Series Aluminum, 3000 Series Aluminum, 5000 Series Aluminum, 6000 Series Aluminum, 7000 Series Aluminum) Application (Building and Construction, Automotive and Transportation, Electrical and Electronics, Consumer Goods, Machinery) Forecast till 2030

ID: MRFR/CnM/9204-CR | May 2022 | Region: Global | 150 pages

Aluminum Extrusion Market Speak to Analyst Request a Free Sample

Aluminum Extrusion Market Overview


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 market was valued at USD 69,510.06 Million in 2021.


Aluminum extrusion is a technique used to transform aluminum alloys into a variety of extraordinary products for consumers and industries. The process is used to create objects of a fixed cross-sectional profile by pushing material through a die of the desired cross-section. Aluminum extrusions have many uses in electronics, automotive, mass transit, bridge decking, telecommunications, solar/renewable energy industries, etc. Three kinds of shapes can be extruded: solid, hollow, and semi-hollow.


COVID-19 Impact on the Aluminum Extrusion Market:


The outbreak has significantly impacted the chemicals & materials supply chains, international trade, and manufacturing operations across the world. Aluminum extrusion production declined amidst the COVID-19 pandemic as market players had to shut production facilities or operate the facilities below the optimal production capacities to avoid the spread of the novel coronavirus. Additionally, the lack of availability of raw materials due to supply disruptions due to border and trade restrictions has impacted aluminum extrusion production.


Furthermore, the declining prices of raw materials and low demand from the end-use industries have resulted in surplus stocks and, thus, reduced production. The primary raw material used to manufacture aluminum extrusion is aluminum. The outbreak caused a huge impact on the supply of raw materials. The aluminum trade between China and the US was also negatively affected, drastically influencing the aluminum extrusion market. The chemical industry was badly hit by the global COVID crisis, which affected the price margins of raw materials as well as end products. Thus, the outbreak has resulted in the disruption of the supply-demand of raw materials, which affected the production of chemicals to a huge extent.


The mining industry, which constitutes the highest share of aluminum, has come to a halt across the globe, impacting the Aluminum Extrusion market. The manufacturers cannot run down their products to the application industries due to a reduction in logistics. The manufacturers are providing products to local areas. With the ease of lockdown across many regions, the companies are coming up with more secure and hygienic ways to deliver products. On the other hand, the suppliers are back to business, and distribution channels have re-opened.


Market Dynamics


Drivers


  • Rapid urbanization, economic growth, and bolstering infrastructural projects


New infrastructure development is a driving force behind the increasing demand for aluminum extrusion. Aluminum extrusions are applied in a variety of infrastructures such as industrial, residential, and government buildings. The usage of extruded products, especially in construction activities, has been influenced by growing investments in the housing sector, which is expected to further boost the demand for aluminum extrusion in the near future.


Restraints


  • Rising environmental concerns due to aluminum extraction


Aluminum is concealed in an ore called Bauxite and is collected from the ground in an open-pit mining operation. Furthermore, the conversion of Bauxite into aluminum via bauxite processing, mining, and refining demands a lot of energy and has several environmental effects. Mining activities, including both underground and open mines, affect animal and plant life.


Opportunity


  • Increased adoption of aluminum in the automotive sector


The automotive segment is noticing an upsurge in aluminum content in internal combustion, followed by the electrical vehicles (EVs), potentially boosting the market growth over the forecast period. Aluminum is extensively used in manufacturing components in electric vehicles, such as battery housings, E-drivers, inverters, brake components, and charging stations. Besides, the automobile components made using metals such as aluminum, magnesium, and advanced high strength steel are preferred for application in electric vehicles owing to their lightweight, which enhances the battery performance for the long run and thus, increases the driving range.


Challenges


  • Volatile aluminum prices expected to be a setback for market growth


Prices of aluminum extrusions are highly dependent on the procurement price of aluminum ores and are comprised mainly of the cost of alumina, labor, and electricity. The aluminum prices depend on China, and the import-export is based on the demand. Moreover, higher exports of semi-fabricated aluminum products from China are affecting the prices of primary aluminum. Nonetheless, aluminum has had a reasonable percentage of price volatility in the last couple of years.


Segmentation


By Product Type



  • Mill-finished

  • Anodized

  • Powder-coated


By Alloy Type



  • 2000 Series Aluminum

  • Alloy

  • 3000 Series Aluminum

  • Alloy

  • 5000 Series Aluminum

  • Alloy

  • 6000 Series Aluminum

  • Alloy

  • 7000 Series Aluminum

  • Alloy

  • Others


By Application



  • Building & Construction

  • Automotive &

  • Transportation

  • Electrical and

  • Electronics

  • Consumer Goods

  • Machinery

  • Others


Regional Analysis


Asia-Pacific accounted for the largest market share and is projected to witness the fastest growth in the Aluminum Extrusion market. The growing urbanization and increasing demand in the construction industry, especially in the commercial sector in the emerging economies of Asia-Pacific, particularly in China, Japan, and Southeast Asian countries. China is the leading producer and consumer of aluminum extrusion in Asia-Pacific. Europe accounted for the second-largest share in the global market owing to the the large scale building & construction industry in the region and high production and sale of automobiles in European countries, such as Germany, Russia, and France. Europe is followed by North America. North America recorded stagnant growth in the global market owing to presence of numerous players in this region and large scale automotive and aerospace industry. On the other hand, the Middle East & Africa is expected to witness below average growth owing to the rising urbanization and large investments in building & construction projects. The Latin American market is likely to create notable opportunities due to the rise in industrialization and increasing government investments in major countries.


Competitive Landscape


The global Aluminum Extrusion market is highly fragmented and consists of many organized and unorganized industry players. The key players operating in the global market have large production bases and advanced manufacturing facilities at the domestic and international levels. Some of the prominent players in the global Aluminum Extrusion market include Constellium, UAJC Corporation, Norsk Hydro ASA, Kaiser Aluminum, China Zhongwang Holding Limited, Extrudex Aluminum, National Material L.P., Gulf Extrusions Co. LLC; AMG Advanced Metallurgical Group, Hindalco Industries Ltd., SMS Schimmer, Allegheny Technologies Inc, American Aluminum Extrusion LLC, International Extrusion Corporation, BRT Extrusions, Inc., and Hulamin Ltd are the prominent players operating in the aluminum extrusion market. The key market players are focused on increasing profitability, margins, and innovation in products to fulfill consumer needs.


Some of the key developments include:



  • In April 2022, Hydro has started the construction of its state-of-the-art aluminum recycling plant in Cassopolis, Michigan. The plant will produce 120,000 metric tons of recycled aluminum annually.

  • In October 2021, Hydro plans to invest USD 42.54 million in a new extrusion press at its aluminum manufacturing plant in Suzhou, China. The press will serve China’s growing automotive and electric vehicle market.

  • In April 2021, Kaiser Aluminum Corporation announced that it had completed the acquisition of Alcoa Warrick LLC, containing all the assets of the Warrick Rolling Mill, from Alcoa Corporation for a purchase price of $670 million..

  • In May 2021, UACJ Corporation plans to invest in its new manufacturing equipment for two factories operated by its US-based subsidiary, UACJ Automotive Whitehall Industries, Inc.


Report Overview:


The aluminum extrusion market is segmented by product type, alloy type, application, and region in the report. In terms of insights, this report has focused on various levels of analysis such as market dynamics, value chain analysis, Porter's five forces, competitive landscape, and company profiles—all of which comprise and discuss views on the global aluminum extrusion emerging and fast-growing segments, regions, and countries.


Objectives of the Study



  • To get a comprehensive overview of the global aluminum extrusion market

  • To get wide-ranging information about the key factors driving the market and market opportunities

  • To gain information regarding the key players in the industry, their product portfolio, strategies, and key developments

  • To gain insights about the key country/region in which the market is growing


Intended Audience



  • Automotive Companies

  • Aerospace and Defense Companies

  • Building & Construction Companies

  • Marine & Shipbuilding Companies

  • Research Institutes

  • Academic Institutes

  • Government Organizations



Report Scope:
Report Attribute/Metric Details
  Market Size   2030: USD 115,761.53 Million
  CAGR   6.30% CAGR (2022-2030)
  Base Year   2021
  Forecast Period   2022-2030
  Historical Data   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, Latin America, and the Middle East and Africa
  Key Vendors   Constellium, UAJC Corporation, Norsk Hydro ASA, Kaiser Aluminum, China Zhongwang Holding Limited, Extrudex Aluminum, National Material L.P., Gulf Extrusions Co. LLC; AMG Advanced Metallurgical Group, Hindalco Industries Ltd., SMS Schimmer, Allegheny Technologies Inc, American Aluminum Extrusion LLC, International Extrusion Corporation, BRT Extrusions, Inc., and Hulamin Ltd
  Key Market Opportunities   â€¢ Increasing adoption of aluminum in the automotive sector • Robust production capabilities of China to create lucrative opportunities for aluminum extruded products
  Key Market Drivers   â€¢ Rapid urbanization, economic growth, and bolstering infrastructural projects • Growing aerospace & defense industry • Augmenting preference for aluminum extrusions over steel owing to outstanding performance


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The global Aluminum Extrusion market would register a growth of 6.30%.

The building & construction industry will play a prominent role in taking the market forward.

Rising environmental concerns due to aluminum extraction could restrain the market.

Asia-Pacific would enjoy the upper hand in the Aluminum Extrusion market.