Aluminum extrusion market size to grow at a CAGR of 4.7% between 2022 and 2027, Driving factors, industry challenges, segmentation, key vendor analysis, leading countries, and market size and forecast 2023-2027, Technavio

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

• 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
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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:

1. Executive Summary
2. Landscape
3. Sizing
4. Historic Size
5. Five Forces Analysis
6. Segmentations
7. Customer Landscape
8. Geographic Landscape
9. Drivers, Challenges, and Trends
10. Vendor Landscape
11. Vendor Analysis
12. Appendix

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SOURCE Infiniti Research, Inc.