NEW YORK, March 4, 2024 /PRNewswire/ — The aluminum extrusion market size is estimated to grow at a CAGR of 4.7% between 2022 and 2027. The size of the market is forecasted to increase by 8.45 million tons. The report also includes historic market data from 2017 to 2021. In 2017, the aluminum extrusion market was valued at 29.59 million t. The aluminum extrusion market is segmented based on end-user, product, and geography. View PDF sample
Technavio has announced its latest market research report titled Global Aluminum Extrusion Market 2023-2027
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Market Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.7% |
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Market growth 2023-2027 |
8.45 mn t |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.19 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 70% |
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Key countries |
US, China, Japan, India, and Germany |
Based on end-user, the aluminum extrusion market is segmented into building and construction, automotive and transportation, machinery and equipment, consumer durables, and others.
Based on product, the market is segmented into mill-finished, anodized, and powder coated.
Based on geography, the aluminum extrusion market is segmented into APAC, Europe, North America, Middle East and Africa, and South America.
For insights on the market contribution of each segment, Buy the report!
The report includes:
Current and future market trends to highlight market conditions
Comparative analysis of the market and its segments for the historic period of 2017 – 2021
Market drivers and market impediments and their impact on market growth
Positioning of market players and their business strategy analysis
Download a sample now!
Country-level analysis
The countries covered in the aluminum extrusion market report are the US and Canada (North America); the UK, Germany, France, and Rest of Europe (Europe); China and India (APAC); Saudi Arabia, South Africa, and Rest of the Middle East & Africa (Middle East & Africa); and Chile, Brazil, and Argentina (South America).
APAC is estimated to account for 70% of the growth of the global market during the forecast period. The growth in APAC can be attributed to several factors, including increasing automobile production in China, India, Japan, and other automobile manufacturing countries.
The building and construction and automobile industries are the major contributors to the regional market growth. China is one of the leading countries for investments in construction. Hence, the building and construction sector in China is the largest end-user of aluminum-extruded products.
Government initiatives such as incentives for electric vehicles are increasing the use of aluminum extrusion in-vehicle components.
These factors are expected to drive the growth of the market in the region during the forecast period. Request a sample!
The increasing demand for aluminum extrusion in the automotive industry
The growing demand for lightweight vehicles is one of the factors for this rise in demand. OEMs use aluminum-extruded products for developing aluminum bars and tubes for equipment such as safety components, crash management systems, body-in-white structures, and elaborate decorative parts. The growing demand for public vehicles and the rise in the use of commercial trucks and mini buses are also fueling the production of commercial vehicles globally. These factors are likely to propel the growth of the market during the forecast period.
Vendor analysis
Technavio’s report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Some of the major players operating in the market Aditya Birla Management Corp. Pvt. Ltd., Al Ghurair First LLC, Arconic Corp., Bahrain Aluminum Extrusion Co., Century Aluminum Co., China Zhongwang Holdings Ltd., Constellium SE, Global Aluminium Pvt. Ltd., Guang Ya Aluminium, Guangdong Xingfa Aluminium Co. Ltd., Jindal Aluminium Ltd., Kaiser Aluminum Corp., National Material L.P., Norsk Hydro ASA, Qatar Aluminum Extrusion Co., Sankyo Tateyama Inc., Tajik Aluminium Co., Tredegar Corp., UACJ Corp., and Vimetco NV, among others. For insights on the vendor offerings, download a PDF sample!
Analyst Review
The market is a dynamic landscape influenced by various factors, including auto manufacturers, government regulations from bodies like the National Highway Traffic Safety Administration (NHTSA), and California Air Resource Board (CARB), and the U.S. Environmental Protection Agency (EPA). These regulations often target reducing greenhouse gas emissions which has led industries like automotive, aerospace & defense, and construction sectors to seek innovative solutions.
Aluminum, a versatile metal derived from bauxite, plays a pivotal role across industries due to its lightweight nature and durability. In automotive and transportation, it finds applications in transmission housings, chassis, panels, engine blocks, roof rails, and even iconic models like the Ford F-150 truck. The extrusion process, including hot extrusion and direct extrusion, is pivotal in shaping aluminum into various forms like rods, bars, tubes, and even scaffolding systems used in construction activities such as the Gordie Howe International Bridge, Hudson Tunnel Project, and JFK Airport Expansion.
With the industry witnessing merger and acquisition activities and the emergence of new players, competitive benchmarking becomes crucial. Company revenue shares often reflect market concentration & characteristics, while regional opportunities highlight evolving dynamics.
In addition to traditional applications, aluminum extrusion extends to consumer goods manufacturing encompassing furniture, sporting equipment, toys, refrigerators, freezers, and appliances. It’s also integral to computer devices, audio-video systems, and consumer electronics.
Moreover, the housing sector relies on aluminum for building & construction purposes, including engine mounts, anti-intrusion beams, radiator beams, fuel distribution pipes, longitudinal beams, seat tracks, cross rails, tailgate frames, and underbody space frame rockers.
Amidst evolving market trends & dynamics, including automation and shifting shapes demands, the market remains resilient, catering to diverse industries while aligning with environmental regulations and consumer preferences. As technology advances, the market is poised to continue its growth trajectory, offering sustainable solutions across various sectors. Request a sample!
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Table of Content:
Executive Summary
Landscape
Sizing
Historic Size
Five Forces Analysis
Segmentations
Customer Landscape
Geographic Landscape
Drivers, Challenges, and Trends
Vendor Landscape
Vendor Analysis
Appendix
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Infiniti Research, Inc.