December 19, 2022 02:00 ET | Source: The Brainy Insights The Brainy Insights
Newark, Dec. 19, 2022 (GLOBE NEWSWIRE) -- The Aluminum extrusion market was estimated at around USD 89.65 billion in 2021, growing at a CAGR of nearly 6.1% during 2022-2030. The market is projected to reach approximately USD 152.85 billion by 2030. Aluminum Profiles For Radiator
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Extrusion is the process of transforming aluminum or an aluminum alloy into a certain shape or profile for a range of applications. Aluminum is a very flexible metal that may be formed into thin, light, crushable objects. The metal goes through a thermomechanical manufacturing process to permanently change it. Extrusion may create any complex shape, including tubes, profiles, rods, and other shapes. The expanding end-use industries and rising green technology adoption are the main factors propelling the global aluminum extrusion market. The market for aluminum extrusion is also being boosted by an increase in the production of power generation and distribution equipment. Due to its strong malleability, it may be easily molded into a variety of pieces without requiring extensive forming and tooling. A typical method for industrial applications, it also has a high strength-to-weight ratio. The automotive industry's move toward lighter cars could have an effect on the market as a whole.
Due to its 100% recyclable nature and resistance to erosion, aluminum is becoming more and more popular for the production of lightweight cars.
Extrusion of aluminum increased demand for strong and lightweight extruded materials across a number of industries is anticipated to boost market growth. Aluminum is the perfect material to use in huge structures and buildings to increase strength while lowering weight because to its light weight and outstanding strength-to-weight ratio. Due to its high rigidity and tensile strength, aluminum is very resistant to deformation. Two other factors that are anticipated to drive the market ahead are the robust corrosion resistance and ease of maintenance of extruded aluminum. Aluminum manufacturers are anticipated to benefit financially from the increase in demand for flexible design. Additionally, aluminum extrusion is used to create a broad range of extruded goods in various forms and sizes using the same machinery, which aids in the expansion of the aluminum extrusion industry.
The automotive and transportation industry is seeing an increase in aluminum content in both internal combustion and electrical vehicles (EVs), which is predicted to stimulate market growth. The demand on automakers to satisfy regulatory obligations relating to the environmental impact of vehicles is rising. A number of organizations, including the National Highway Traffic Safety Administration (NHTSA), the California Air Resource Board (CARB), and the United States Environmental Protection Agency (EPA), have enacted laws and regulations governing greenhouse gas (GHG) emissions. Taking the NHTSA's emission rules as an example. These regulations increased the requirements for fuel economy and carbon dioxide levels by 1.5% between model years 2021 and 2026. The demand for various aluminum automotive components is anticipated to increase as a result in the upcoming years.
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The market for aluminum extrusion market is segmented into the product, and application. The product predicts that the product segment for shapes would grow at the fastest rate. Due to its extraordinary malleability, aluminum may be easily shaped using the extrusion method. During this process, hot aluminum billets are pushed onto steel dies under high pressure by a hydraulic press or ram. Aluminum shapes, especially die shapes, are produced as a result of this operation. The automotive and transportation sectors use aluminum forms for the chassis, panels, roof rails, , transmission housings, and engine blocks of cars, trucks, boats, and trains. Demand for structural components is rising as vehicles get lighter.
The building & construction segment is anticipated to hold major share in the aluminum extrusion market by application during the forecast period. This is because extruded goods are being used more frequently in construction operations, which is directly related to investments made in the housing market. China is the global leader in the construction industry and has made significant investments in infrastructure expansion, which will hasten market expansion.
The biggest market share of the total market was held by the Asia-Pacific in the aluminum extrusion market. This is due to the quick development operations carried out in developing nations including South Korea, Japan, China, and India. China dominates the market in this region as a result of the building industry's rapid expansion. Additionally, it is predicted that the Chinese government's goal of making significant investments in energy and transportation infrastructure will propel market expansion.
Throughout the projection period, North America is expected to grow considerably as well. The goal of the $1 trillion plan and other economic stimulus programs from the U.S. government is to considerably boost aluminum demand. The U.S. is anticipated to contribute significantly to the expansion of the aluminum extrusions market due to the existence of a sizeable automotive industry and rising industrial use of extruded aluminum. The trend toward the usage of green buildings is increasing demand for extruded aluminum, which will foster the expansion of the aluminum extrusions industry in the United States.
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List of the prominent players in the Global Aluminum extrusion market:
• Hindalco Industries • Jindal Aluminum Limited • Bonnell Aluminum, SKM Co., Ltd. • Keymark Corporation • Kaiser Aluminum Corp. • Hulamin Ltd. • China Zhongwang Holdings Limited • Constellium N.V. • Hydro Extrusions • Arconic Inc.
The global Aluminum extrusion market is segmented as follows:
• Shapes • Rods & Bars • Pipes & Tubes
• Building & Construction • Automotive & Transportation • Consumer Goods • Electrical & Energy • Others
o The U.S. o Canada o Mexico
o France o The UK o Spain o Germany o Italy o Rest of Europe
o China o Japan o India o Australia o South Korea o Rest of Asia Pacific
• The Middle East & Africa
o Saudi Arabia o UAE o Egypt o Kuwait o South Africa o Rest of the Middle East & Africa
o Brazil o Argentina o Rest of Latin America
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The global Aluminum Extrusion market is analyzed on the basis of value (USD million). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, and competitor position grid analysis.
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