Aluminum Extrusion Market Research Report 2020 | Industry Report, Industry Analysis, Key Players, Trends, Revenue, Regional Segmented, Outlook Until 2030

The shortage of Chinese ingredients, raw materials, and semi-finished goods is the latest example of the global economy’s dependence on products made in China, from iPhones to auto parts to pharma. Much of the fallout may still be hidden and is likely to play out over months. Even before the coronavirus outbreak, business investment was already in poor health in the United States. It fell in the last three quarters of 2019. Some analysts now expect more companies could soon announce reductions in their capital spending.

Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Aluminum Extrusion market.

Trusted Business Insights presents an updated and Latest Study on Aluminum Extrusion Market 2019-2030. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Aluminum Extrusion market during the forecast period (2019-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.

Get Sample Copy of this Report @ Aluminum Extrusion Market Research Report 2020 | Industry Report, Industry Analysis, Key Players, Trends, Revenue, Regional Segmented, Outlook Until 2030

Industry Insights, Market Size, CAGR, High-Level Analysis: Aluminum Extrusion Market

The global aluminum extrusion market size was valued at USD 78.9 billion in 2018 and is expected to progress at a CAGR of 5.3% over the forecast period. There is a rise in building & construction activities across the globe. This, in turn, is projected to boost the market growth in the coming years.
Benefits of aluminum extrusion, such as low price, structural designs, and recyclability, make it suitable for use in construction of buildings & infrastructure. Rapid urbanization is anticipated to boost construction industry. As per the United Nations in 2018, 55% of the worlds population lives in urban area and this number is expected to reach 68% by 2050. This is likely to augment the need for housing and infrastructure over the coming years.

As per the Institution of Civil Engineers, the global construction output is expected to reach USD 15.5 trillion by 2030. The growth is majorly projected from the U.S., China, and India. These countries together are expected to constitute 57% of the global construction industry growth by 2030. This is likely to drive the demand for aluminum extrusion over the coming years.
Aluminum extrusion is used in light weight frames and structures in solar energy industry for converting sunlight to green power. Progress in solar energy industry is anticipated to boost the demand for aluminum extrusion. As per the statistics of the International Renewable Energy Agency, the global solar capacity expanded at a CAGR of 31.2% from 2013 to 2017, and it is expected to continue to grow in coming years as well.
The growing demand for aluminum extrusion is compelling new manufacturers to enter the market. However, setting up a new aluminum extrusion manufacturing plant requires huge capital investments owing to high plant and machinery costs.

Product Insights of Aluminum Extrusion Market

Aluminum extruded shapes was the largest segment and accounted for a market revenue share of 80.5% in 2018. The growth is attributable to the increasing demand for aluminum extrusion from automobiles, buildings, and consumer goods sectors. The commonly used shapes are channels, angles, and tubing. In buildings, these products are used in sliding doors, windows, and railings. In automobiles, they are used in exterior applications.
Aluminum extruded rods & bars are widely used in electrical transmission lines, as aluminum transmits double the electric current per pound than copper, making it a cost-effective solution. According to the International Energy Agency, the global electricity demand increased by 4% from 2017 to 2018. The rising electricity demand is likely to increase the consumption of aluminum extruded rods & bars over the coming years.
Aluminum extruded pipes & tubes is expected to be the fastest-growing product segment in the market. In terms of revenue, the segment is projected to ascend at a CAGR of 6.5% over the forecast period. The growth is attributable to the rising demand for pipes from heat exchangers owing to their high thermal conductivity.
The increasing demand from construction industry is expected to drive the demand for tubes. Tubes are used in handrails and support columns in buildings. Pipes & tubes are available in various shapes, such as rectangle, square, and round, in different dimensions. The increasing utilization of pipes & tubes owing to the advancing construction industry is anticipated to augment the growth of aluminum extrusion market over the coming years.

Application Insights of Aluminum Extrusion Market

Automotive & transportation segment accounted for a market volume share of 13.5% in 2018 and is projected to witness moderate growth over the coming years. The growth is owing to the lightweight and high strength properties of aluminum along with growing demand for automotive and electric vehicles. In automobiles, aluminum extruded products are used in bumper systems, door beams, and structural members of the car body.
Aluminum extrusion plays a major role in aerospace industry owing to its properties such as good weldability, corrosion resistance, machinability, and electrical conductivity. The extrusion is used in galleys & trolleys, instruments, seats, and baggage compartments. According to the International Air Transport Association, the aircraft passenger number is expected to reach 8.2 billion by 2037, thus creating a demand for aircraft in the coming years. The growing demand for aircraft along with electric & motor vehicles is anticipated to augment the market growth over the coming years.

Electrical & energy segment is largely driven by the growing demand for renewable energy sources such as solar energy and wind energy. Aluminum extrusion is used in producing supports & frames for solar panels. Properties of aluminum extrusion, such as corrosion & weather resistance and lightweight, make it suitable for use in assemblies and installation of solar panels.
Consumer goods segment is projected to register a CAGR of 5.5% in terms of revenue from 2019 to 2025. The growth rate is attributable to increasing demand for aluminum extrusion from consumer electronics. Electronic brands, such as Bang & Olufsen, Apple, Philips, LG, Sony, and Samsung, are increasingly using aluminum extrusions owing to the complex design capabilities. Other consumer goods, such as furniture, utensils, and fitness equipment, are also produced using aluminum extrusion.

Regional Insights of Aluminum Extrusion Market

Asia Pacific was the largest regional market for aluminum extrusion in 2018. It is expected to be the fastest growing market owing to the growth of manufacturing and construction industries, especially in China and India. According to the International Trade Administration, construction industry in China is expected to increase by 25.0% from 2018 to 2021. The industry growth is owing to the expanding population and rising focus on infrastructure development.
According to the India Brand Equity Foundation, manufacturing sector in India is expected to reach USD 1 trillion by 2025. Developments under the Make in India initiative, such as easing foreign direct investment in defense from 49% to 51% to promote manufacturing sector in the country, are likely to drive the market growth in the region over the forecast period.
In North America, the market for aluminum extrusion is majorly driven by construction and energy industries. The U.S. dominated the region with its demand from energy industry. According to the U.S. Energy Information Administration, the countrys energy consumption increased by 4.1% from 2017 to 2018. This is anticipated to propel the market growth over the coming years.
Europe market is projected to register a CAGR of 4.0% in terms of revenue over the forecast period. The growth is driven by the propelling automotive and industrial sectors. The regions automotive sales increased by 8.7% from 2015 to 2018. This is likely to increase the utilization of aluminum extrusion over the coming years.

Market Share Insights of Aluminum Extrusion Market

Some of the established players in the market for aluminum extrusion are Jindal Aluminium Limited, Arconic, Century Aluminum, Global Aluminium Pvt. Ltd., Novelis, Constellium, Norsk Hydro ASA, TALCO, and QALEX. Market players are considering capacity expansion to widen strengthen their position. In February 2017, Qatar Aluminum Extrusion Company doubled its production capacity by adding new production lines with an investment of USD 12.36 million from Qatar Development Bank. This capacity expansion was mainly aimed at meeting the growing demand for aluminum extrusions and to develop new extruded products.
Major companies are adopting strategies such as mergers & acquisitions to increase their market share. In March 2019, Norsk Hydro ASA acquired Aronics two extrusion plants in Brazil. This was aimed to strengthen the formers market position and create a solid growth platform.

Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Aluminum Extrusion Market Research Report
This report forecasts revenue and volume growth at country & regional levels, and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, this market research report has segmented the global aluminum extrusion market report on the basis of product, application, and region:

Product Outlook (Revenue, USD Million; Volume, Kilotons, 2019 – 2030)

Shapes

Rods & bars

Pipes & tubes

Application Outlook (Revenue, USD Million; Volume, Kilotons, 2019 – 2030)

Building & construction

Automotive & transportation

Consumer goods

Electrical & energy

Others

 

Quick Read Table of Contents of this Report @ Aluminum Extrusion Market Research Report 2020 | Industry Report, Industry Analysis, Key Players, Trends, Revenue, Regional Segmented, Outlook Until 2030

Contacts

Trusted Business Insights
Shelly Arnold
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580

Related posts