The global Aluminum Extrusion market size is expected to be worth around US$ 204.15 billion by 2030, according to a new report by Vision Research Reports.
The global Aluminum Extrusion market size was valued at US$ 67.29 billion in 2020 and is anticipated to grow at a CAGR of 7.10% during forecast period 2021 to 2030.
Growth Factors
Increasing investments in infrastructure and residential construction is projected to drive the market growth over the forecast period. Emerging economies of Asia Pacific, Central & South America, and Middle East & Africa are witnessing increasing investments in the residential and infrastructure sector owing to the rapid urbanization, rising per capita income levels, and growing population.
For instance, in the economic budget of FY 2020-21, the Indian government announced around USD 1.41 trillion funding for infrastructure projects in the country. The Indian government is set to develop 6,500 projects under its National Infrastructure Pipeline (NIP) over the next five years. Besides the construction industry, growth in the automotive & transportation sector is also expected to play a crucial role in driving the market growth. Aluminum, being a lightweight material, helps in curbing emissions from automobiles. Also, due to various stringent government regulations regarding carbon emissions, automobile companies are preferring this material over for automotive manufacturing.
The Covid-19 pandemic has created disruptions in the value chain of the industry across various countries, such as China. However, the country is all set for a strong rebound in its economic activities, following the relaxation of economic and social controls since April 2020. Where the other major economies of the world reported a negative GDP for the second quarter (April-June) of 2020, China registered a GDP growth of 3.2%. The economic growth of the country has helped soften the impact of the pandemic for the remainder of 2020.
Report Highlights
The shapes product segment accounted for the largest revenue share of 80% in 2020. Aluminum has excellent malleability, which makes it easy to produce shapes using the extrusion process. Under this process, aluminum billets are heated and forced with a ram or hydraulic press with high pressure on steel dies. Aluminum shapes are formed after this process, which contains the shape of dies.
In the automotive & transportation sector, such shapes are used in chassis, roof rails, panels, transmission housings, and engine blocks for trucks, cars, boats, and railways. Demand for structural components is increasing in vehicles to make them lighter; for instance, the F-150 of Ford is constructed using large aluminum materials, wherein body panels and extruded shapes consist of the major portion of the body weight. Rods & bars are made with the help of the extrusion process, through the use of dies.
Rods are circular while bars have any number of flat sides. In the extrusion process, aluminum billets are heated and passed through series of rolls and then coiled and are drawn into rods, bars, and tubes through thinned dies. Rods & bars are widely used in construction activities, especially in the forming of scaffolding systems. These lightweight scaffolding systems offer numerous advantages over traditional systems, in terms of stability, weight, and flexibility.
The building & construction sector accounted for the revenue share of over 60% in 2020. The use of extruded products in construction activities has been greatly influenced by the investment in the housing sector. The largest construction sector, in terms of nominal value, is dominated by China. The country’s drive to invest in new housing development is likely to aid the segment growth over the forecast period.
The automotive & transportation sector accounted for the largest volume share in 2020 and is expected to grow at a lucrative CAGR over the forecast period. In vehicles, aluminum extrusions have wide applications in cross rails, anti-intrusion beams, fuel distribution pipes, radiator beams, engine mounts, longitudinal beams, seat tracks, underbody space frame rockers, roof rails, and tailgate frames, among others.
Consumer goods accounted for the lowest market share in 2020, as the aluminum applications in consumer goods are lesser compared to other sub-segments. However, increasing production of consumer goods is expected to boost the demand for aluminum extrusions for use in furniture, sporting & athletic goods, toys, refrigerators & freezers, and other major appliances during the forecast period.
Extruded sections, such as sheets, customized shapes, and bars, are widely used in the consumer goods industry. Customized extruded shapes have wide application scope in computer devices, audio & video systems, and other appliances. Increasing production of the aforementioned devices and appliances is likely to fuel the product demand in the coming years.
Asia Pacific dominated the global market and accounted for the largest revenue share of over 74% in 2020. The region will retain its dominant position throughout the forecast years due to the major manufacturing sectors in countries, such as China, India, Vietnam, Japan, and South Korea. Among these countries, China is projected to play a key role in promoting industry growth through its extensive construction sector. The plan of the Chinese government to invest in transport and energy infrastructure is likely to positively influence the aluminum extrusion market growth over the forecast period.
North America is projected to grow at a significant growth rate from 2021 to 2028, in terms of revenue. The resumption of industrial operations post Covid-19 lockdown is projected to provide a push to the market growth. Government initiatives regarding economic development are also expected to help recover the regional market. For example, in October 2020, Canada unveiled a new infrastructural plan worth CAD 7.5 billion (~USD 5.8 billion) for pushing an array of renewable energy initiatives and create jobs in the country, which were impacted by the pandemic.
The declining growth and production of the Europe automotive industry, owing to the pandemic, is affecting the demand for aluminum and its products. With an aim to recover from the loss, producers in the region have come together for the development of the automotive industry by supporting certain schemes, such as the vehicle-renewal scheme that focuses on sales of eco-friendly vehicles, such as clean ICEs and EVs.
Key Players
Hindalco Industries Ltd.
Arconic Corp.
Norsk Hydro ASA
Constellium N.V.
QALEX
Market Segmentation
Product Outlook
Shapes
Rods & Bars
Pipes & Tubes
Application Outlook
Automotive & Transportation
Building & Construction
Consumer Goods
Electrical & Energy
Others
Regional Outlook
North America
U.S.
Canada
Mexico
Europe
Germany
France
U.K.
Asia Pacific
China
India
Japan
Central & South America
Brazil
Middle East & Africa (MEA)
Saudi Arabia
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
Research Methodology:
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
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.
Primary Sources
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:
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers