Over 60% of Aluminum Extrusion Market Revenue to be yielded by Construction Activity, Global Market Slated to reach US$ 175 Billion by 2032

NEW YORK, March 3, 2022 /PRNewswire/ -- The global aluminum extrusion market is expected to flourish at a CAGR of 7% from 2022 to 2032, reaching a valuation of US$ 175 Billion. As of 2022, the industry is forecast to reach US$ 89 Billion, registering a Y-o-Y increase of 4.7% from US$ 85 Billion in 2021.

According to Fact.MR's projections, the market experienced a stable historical growth trajectory, registering a CAGR of 6.2% from 2015 to 2021. Rising concerns regarding carbon emissions resulting from mining and extraction activities have widened usage of alternative raw materials, including aluminum.

The NHTSA has issued strict emission regulations standards in recent years. As per these regulations, stringency for carbon dioxide standards and fuel economy has increased by 1.5% from model years 2021 to 2026. This is expected to boost the demand for various aluminum components in automobiles over the coming years.

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The aerospace & defense, automotive, and construction industries are playing a crucial part in increasing the sales of aluminum extrusion. Moreover, construction activities are leading to the opening of material inflow for construction purposes. Furthermore, low costs and weight of extrusion products are contributing to the rising demand in various industrial applications.

Key Takeaways

• By application, building and construction expected to gain more than 60% market share for aluminum extrusion market.
• By product, shapes expected to hold nearly 80% market share for aluminum extrusion.
• Aluminum extrusion industry expected to possess nearly 70% market share throughout North America.
• Aluminum extrusion industry expected to possess nearly 40% market share throughout Asia Pacific.
• Global aluminum extrusion market demand is likely to flourish nearly 2x from 2022 to 2032

Prominent Drivers

• A flourishing automotive industry, especially stimulated by heightening EV production is widening prospects for aluminum extrusion. Aluminum based automotive parts are highly durable, providing elongated lifespans
• A rapidly expanding global population is fueling demand for residential construction. This is indirectly assisting in the growth of aluminum extrusion products to manufacture robust construction material

Key Restraints

• Aluminium extrusion growth prospects may be significantly dampened in the wake of a highly volatile raw material market. Possibilities of inflation and other price fluctuations may render aluminum prices erratic

Market Competition

Prominent aluminium extrusion service providers are emphasizing on acquiring regional manufacturers, as well as adopting sustainable manufacturing practices with the objective of reducing their global carbon footprint. Additionally, strategic collaborations and partnerships are also relied upon. Notable developments are as follows:

• In December 2021, Hindalco Industries Ltd acquired Hydro's aluminum extrusions business in India. Through this acquisition, the company is focusing on expanding its presence in the upper end of the value added market.
• In February 2022, Novelis launched a net zero lab by collaborating with HES-SO Valais-Wallis to develop carbon neutral solutions for aluminum manufacturing.  Through this, the company will invest in researching on decarbonizing and is aiming at becoming carbon neutral by 2050

Key Questions Covered in the Aluminium Extrusion Market Report

• What is the global aluminium extrusion market scenario?
• How far is the global demand expected to reach over the forecasted period?
• What was the last 5-year CAGR for the demand in the demand in the aluminium extrusion market?
• Who are the prominent players in the global aluminium extrusion market?
• Which is the most leading region in the aluminium extrusion market?

More Valuable Insights on Aluminium Extrusion Market

Fact.MR, in its report, offers a market analysis of the global aluminium extrusion market analyzing forecast period through 2022 and beyond. This survey reveals the growth of technology in the aluminium extrusion market with detailed segmentation as follows: -

• By Product 
• Aluminium Extrusion Shapes
• Aluminium Extrusion Rods & Bars
• Aluminium Extrusion Pipes & Tubes
• By Application 
• Aluminium Extrusion for Building & Construction
• Aluminium Extrusion for Consumer Goods
• Aluminium Extrusion for Automotive & Transportation
• Aluminium Extrusion for Electrical & Energy
• Aluminium Extrusion for Other Applications
• Region
• North America
• Latin America
• Europe
• Asia Pacific
• Middle East & Africa

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