The Aluminum Extruded Products Market is predicted to grow from USD 34.52 billion in 2020 to USD 47.39 billion by 2025, with a CAGR of 6.92%.
The market for extruded aluminum products is growing due to escalating call from end-use industries such as construction, machinery and equipment, automotive and mass transportation. The expansion of this market is driven by the expansion of its end-use industries.
At the same time, the growing call for sustainable and recyclable aluminum materials has boosted the market for aluminum extrusions. Emerging economies like India, South Africa, Brazil and the oil-for-employed GCCs (Gulf Cooperation Countries) have great potential for the aluminum extrusion market. Aluminum extrusion is a process to transform aluminum alloy into extruded goods with a definitive cut profile. The malleability of aluminum alloys makes it easy to machine and mold them into extruded products of complex shapes. After the extrusion process, there are several options available to adjust the texture, color, and gloss of aluminum products. Custom extruded aluminum products have a longer life than other materials, such as steel and plastic, due to their high strength, lightweight, and corrosion resistance.
Escalatingcall for aluminum extrusions in the construction industry in emerging Asia-Pacific countries is predicted to drive worldwide market expansion during the foreseen period. Factors such as the rapid expansion of the construction and transportation industries, increased investments for infrastructure development, and rising disposable income are also likely to support the expansion of the world market in the coming years. There is an increase in the consumption of extruded aluminum products in the construction of railings and coatings for bridges, road signs and lighting poles and pedestrian bridges, among other things due to its ease of manufacture, its low maintenance cost and its lightness.
The growing call for aluminum extrusion products in the automotive industry is likely to drive the worldwide market during the foreseen period. Advanced automotive systems, such as sensors and batteries, have increased the overall weight of vehicles. Environmental problems such as worldwide warming due to increased CO2 emissions and fossil fuel depletion are the main concerns. The strict fuel efficiency and emissions standards for automobiles have promoted the consumption of the product in automobiles due to its lightness, high strength and cost-effectiveness. The worldwide market for aluminum extrusion products is driven by their strong presence as substitutes for steel for automobiles and transportation. Extrusion is relatively simple. Slide a heated aluminum bill through a die with a large hydraulic press. About 40% of all extrusions are colored, anodized, or lightly powdered. During extrusion, almost all extrusions are produced in one way or another, whether by the extruder, the consumer, or a third party.
Lack of knowledge about extruded aluminum products is a potential drag on the extruded aluminum product market. Therefore, many buildings ignore the lucrative nature of using extruded aluminum products, which includes reduced heat flux, energy efficiency, and cost-effectiveness.
The rising popularity of aluminum extrusions in electric vehicles (EVs) is probable to create immense expansion opportunities for players in the worldwideindustry. Growing environmental concerns have led to the adoption of electric vehicles, predicted to promote the expansion of the worldwide market. Developments such as Fuel Cell Electric Vehicles (FCEV), Hybrid Electric Vehicles (HEV), and Battery Electric Vehicles (BEV) are predicted to drive call for the product in the production of lightweight battery boxes. Major electric vehicle manufacturers like Tesla, BMW and Nissan are escalatingly using aluminum battery housings. The worldwide market for aluminum extrusion products is driven by their strong adoption in the automotive industry, as they replace steel in the automotive and transportation industry, due to their lightweight nature, resulting in reduced fuel consumption and emissions. of greenhouse gases. The recyclable and corrosion resistant nature of aluminum extrusion products ensures the durability and durability of the entire system in which they are employed. In addition, the use of aluminum extrusion products in buildings and constructions in doors, windows, panels, window frames, stairs and terraces is also predicted to increase.
The automotive and transportation applications segment is likely to take a severe hit due to the COVID-19 pandemic. Worldwide car production is predicted to decline by at least 20% in 2020 due to supply chain disruptions and reduced call.
By product type:
In terms of product type, extruded factory-finished aluminum products accounted for the largest market share in 2015, in terms of value; This is predicted to increase at the highest CAGR during the foreseen period. This expansion is attributed to the escalatingcall for finished aluminum extrusions in the construction and automotive industries.
By end use industry:
The construction segment is predicted to account for the largest share in 2015. However, the automotive segment is predicted to grow at the highest CAGR during the foreseen period. The call for light cars to achieve high fuel efficiency will drive the market for extruded aluminum products in the country.
The Asia Pacific market dominated the worldwide market with the largest share of 63% in 2017 and is predicted to record the highest CAGR of 7% by the end of 2025. This is attributed to the expansion of industries. automotive and building and construction in China, India and Indonesia. Escalating investments in developing countries in Southeast Asia, such as Indonesia, Myanmar and Thailand, for infrastructure development are predicted to drive the expansion of the regional market. The European market accounted for the second largest market share of 15% in 2017 and is predicted to show a remarkable CAGR of 5.5% during the evaluation period due to strict regulations on greenhouse gas emissions. In addition, the growing call for the product in structural components and electric vehicle battery boxes is predicted to drive the expansion of the regional market.
North America is predicted to post a CAGR of 2.5%, in terms of revenue, from 2020 to 2025. The aluminum industry in the region has also been hit hard by the pandemic and, as a result, call. in the building and construction industry it has been seriously affected. Economic packages announced by the US government, such as the $ 1 trillion package, are predicted to increase the call for aluminum to some extent. Although the COVID-19 pandemic has significantly affected construction production and overall economic expansion in the Middle East and Africa, the construction industry remains positive about its long-term outlook with spending commitments from Investments in events and long-term infrastructure. The housing sector has especially benefited from increased allocations for projects in Bahrain, the United Arab Emirates and Saudi Arabia. These factors are predicted to collectively contribute to market expansion in the region.
Companies such as United Company Rusal (Russia), Alcoa Inc. (U.S.), Aluminum Corporation of China Limited (China), Rio Tinto Plc (U.K.), BHP Billiton Ltd. (Australia), Norsk Hydro ASA (Norway), Centaury Aluminum Corporation (U.S.), China Hongquiao Group Limited (China), Aluminum Bahrain B.S.C (Bahrain), and Hindalco Industries Limited (India) have adopted this strategy. Along with the same, these players have a strong distribution network and influencing presence in developed as well as developing economies
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Product Type
5.1.5 Y-o-Y Growth Analysis, By Product Type
5.1.6 Market Attractiveness Analysis, By Product Type
5.1.7 Market Share Analysis, By Product Type
5.2 End-Use Industry
5.2.4 Electrical & Electronics
5.2.5 Mass Transport
5.2.6 Machinery & Equipment
5.2.5 Y-o-Y Growth Analysis, By End-Use Industry
5.2.6 Market Attractiveness Analysis, By End-Use Industry
5.2.7 Market Share Analysis, By End-Use Industry
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product Type
188.8.131.52 By End-Use Industry
6.1.4 Market Attractiveness Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Product Type
18.104.22.168 By End-Use Industry
6.1.5 Market Share Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product Type
188.8.131.52 By End-Use Industry
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Alcoa Corporation
8.3 Aluminium Corporation of China Limited
8.4 RIO Tinto PLC
8.5 Norsk Hydro ASA
8.6 Century Aluminium Company
8.7 China Hongqiao Group Limited
8.8 Aluminium Bahrain
8.9 Hindalco Industries Limited
8.10 Aditya Birla Management Corporation Pvt. Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures