The global Aluminum Extrusion market size is expected to be worth around US$ 95 billion by 2030, according to a new report by Vision Research Reports.
The global Aluminum Extrusion market size was valued at US$ 69 billion in 2020 and is anticipated to grow at a CAGR of 5% during forecast period 2021 to 2030.
The market is expected to be driven by rising demand from the electrical and energy sectors. The COVID-19 pandemic is likely to dampen the product demand in 2020 with moderate to high recovery expected from 2021.
Extruded aluminum is used to build high voltage transmission towers in the electrical industry owing to its properties, such as lightweight, weldability, and high corrosion resistance. These characteristics of the product make the tower more durable and easier to install, thus leading to low maintenance and operation costs. According to the International Energy Agency (IEA), global electricity production is bound to increase, mainly in the emerging economies of Asia Pacific, and the Middle East and Africa.
According to the IEA, Asia Pacific is poised to witness a severe surge in terms of electricity demand over the coming years. China is predicted to contribute roughly 20% increase in the global electricity demand by 2040. This is projected to fuel the product demand in China over the coming years.
Aluminum extruded shapes dominated the market and accounted for a revenue share of 80.1% in 2019. Increasing demand for extruded shapes from the building and construction, automotive, and consumer goods sectors is a significant factor fueling the segment growth. The commonly used shapes are angles, channels, and tubing. Common applications of these products in buildings include windows, sliding doors, and railings. In automobiles, they are commonly found in exterior applications.
Aluminum extruded pipes and tubes are expected to expand at the fastest CAGR of 6%, from 2021 to 2030, in terms of revenue. The rising demand for aluminum pipes from heat exchangers due to their high thermal conductivity is estimated to be a key factor for their growth. Furthermore, growth in the construction industry is likely to drive the demand for tubes. Tubes are used in support of columns and handrails in buildings.
The building and construction application segment dominated the market and accounted for a revenue share of 60.6% in 2019. Post the COVID-19 crisis, the construction industry in Europe and North America is likely to be driven by the restoration of existing building and infrastructure projects, while the construction industry in the Asia Pacific, and the Middle East and Africa is expected to be driven by new construction projects owing to the burgeoning population and rising urbanization This is expected to benefit the segment growth.
The electrical and energy application segment is expected to register the fastest CAGR of 5% in terms of revenue from 2021 to 2030. Extruded aluminum structures are widely used in the wind and solar industry as they offer great potential owing to their lightweight, strength, and corrosion resistance. Growing demand for renewable energy sources, such as solar and wind energy, is expected to be a key factor augmenting the segment growth.
Asia Pacific dominated the market and accounted for a revenue share of 75% in 2020. This is attributed to the presence of large construction and automotive industries in China. China accounted for a revenue share of 63.2% in the Asia Pacific market in 2019. Key countries of the region including China, India, and Japan have implemented plans to unleash massive amounts of fiscal stimulus to push economic activities. This is likely to fuel market growth in the region.
Europe has been one of the hardest-hit markets by the acute economic slowdown caused by the COVID-19 pandemic. The Eurozone GDP is expected to contract by 7.2%. The European economy is expected to be uplifted by the upcoming construction projects in the region as the construction sector is a significant GDP contributor and it also accounts for the largest share in Europe’s aluminum extrusion market.
North America is expected to register a CAGR of 2.7%, in terms of revenue, from 2021 to 2030. The aluminum industry in the region too has been hard hit by the pandemic and as a result, demand from the building and construction industry has been severely affected. Economic packages announced by the U.S. government, such as the USD 1 trillion dollar package, are expected to uplift the aluminum demand to some extent.
|Market Size||US$ 95 billion by 2030|
|Growth Rate||CAGR of 5% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Segments Covered||Product, Application|
|Regional Scope||North America, Europe, APAC, MEAN|
|Comapanies Mantioned||Jindal Aluminium Limited, Norsk Hydro ASA, Century Aluminum, Arconic, Global Aluminium Pvt. Ltd., TALCO, QALEX, Novelis, Constellium, hina Zhomgwang Holdings Limited, Guang Ya Aluminium|
Jindal Aluminium Limited
Norsk Hydro ASA
Global Aluminium Pvt. Ltd.
China Zhomgwang Holdings Limited
Guang Ya Aluminium
Rods & Bars
Pipes & Tubes
Building & Construction
Automotive & Transportation
Electrical & Energy
Central & South America
The Middle East & Africa
The Aluminum Extrusion market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.
The report provides size (in terms of volume and value) of Aluminum Extrusion market for the base year 2020 and the forecast between 2021 and 2030. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.
This report focuses on the global Aluminum Extrusion market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Aluminum Extrusion market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Aluminum Extrusion market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.
In terms of production side, this report researches the Aluminum Extrusion capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.
In terms of consumption side, this report focuses on the consumption of Aluminum Extrusion by regions (countries) and application.
Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Aluminum Extrusion market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.
With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Aluminum Extrusion market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Aluminum Extrusion market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.
The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.
Overall, this is an in-depth research report specifically for the Aluminum Extrusion industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.
The Aluminum Extrusion market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Aluminum Extrusion market.
Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Aluminum Extrusion market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.
Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Aluminum Extrusion market. These factors have benefited the growth of the global market for Aluminum Extrusion. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.
New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Aluminum Extrusion. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).
In this study, the years considered to estimate the market size of Aluminum Extrusion are as follows:
Reasons to Purchase this Report:
- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
Market Size Estimation
Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).
The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.
Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.
Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.
The study objectives of this report are: