Aluminum Extrusion Market Is Estimated To Reach A Market Value Of US$ 175 Bn By 2032

Aluminum Extrusion Market..

The aluminum Extrusion Market is projected to achieve a market value of US $89 billion in 2022 in terms of its global sales. By the end of 2021, the global market for aluminum extrusion had sales that exceeded US$ 85 billion. Research estimates that throughout the aforementioned historical period, the industry expanded at a CAGR of 6.2% by 2032.

Sales of aluminum extrusion are anticipated to increase as demand for EVs and the automotive & transportation sectors both rise. Additionally, there is growing pressure on automakers to comply with laws and regulations governing how cars affect the environment.

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Key Driving Forces Accelerating the Market Growth

  • The continual expansion of the North American construction market has increased demand for aluminum extrusions in a variety of building applications, such as window frames, doors, curtain walls, and structural elements.
  • The adoption of aluminum extrusions in automobile frames, chassis, and other components has been prompted by the automotive industry’s focus on lightweight automobiles to increase fuel efficiency and reduce emissions.
  • Aluminium is a material that is highly recyclable, making it an environmentally favourable option for a variety of sectors looking for long-term solutions and environmentally responsible practises.

Moreover, the increasing use of aluminum extrusions in consumer electronics, such as smartphones, tablets, laptops, and LED displays, has contributed to market growth.

  • The widespread usage of aluminium extrusions in several industrial applications, including machinery, equipment, and material handling systems, is a major driver of market growth. Additionally, businesses are choosing aluminium extrusions for items like solar panels and energy-efficient lighting fixtures as a result of the focus on energy efficiency and green efforts.
  • Significant increases in production efficiency and cost reduction have been made possible by technological developments in the aluminium extrusion manufacturing process. Precision extrusion is one such development, which makes use of cutting-edge methods and tools to guarantee exact dimensions and shape of the extruded aluminium profiles.

Vital Indicators Shaping the Future of the Industry

  • The demand for aluminium extrusion products is significantly influenced by the general economic expansion of North America. Increased industrial, automotive, and construction activity is typically a result of economic growth, and this in turn raises demand for aluminium extrusions.
  • Opportunities for aluminium extrusion applications in the construction and transportation industries are created by government investments in infrastructure projects like roads, bridges, airports, and public transit systems.
  • The use of lightweight, recyclable aluminium extrusion solutions over alternative materials with higher carbon footprints by industry may be influenced by the growing emphasis on sustainable practises and stronger environmental legislation.
  • Aluminium extrusions could become more competitive in a variety of industries as a result of improvements in efficiency, cost savings, and design possibilities in aluminium extrusion technology and manufacturing processes.

Aluminium is a malleable material. In consequence, this makes employing the extrusion process to create forms simple. Additionally, aluminium billets are heated and pressed against steel dies under high pressure using a ram or hydraulic press. After this procedure, aluminium shapes are created, including die shapes.

Furthermore, chassis, roof rails, panels, transmission housings, and engine blocks for trucks, vehicles, boats, and trains are made using aluminium extrusions in the automotive & transportation industry. In order to make automobiles lighter, structural components are also becoming more and more in demand. Shapes are therefore anticipated to hold close to 80% of the market by product.

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Challenges Hindering the Market Growth

Aluminium prices can fluctuate because of things like trade disputes, geopolitical unrest, and global supply-demand mismatches, making it difficult for businesses to control expenses and keep prices low. In addition, the industry is challenged by competition from other materials including steel, composites, and plastics, which may offer distinct properties and cost advantages. A large quantity of energy is additionally needed for the production of aluminium extrusions, and changes in energy prices can have an impact on production costs and the overall competitiveness of the market.

  • The aluminum extrusion market in North America is relatively fragmented, with numerous small and medium-sized manufacturers. This fragmentation can lead to price competition and hinder the market’s ability to influence overall pricing trends.

How Competition Influences the Market

Intense competition among aluminum extrusion manufacturers can lead to price wars, where companies lower their prices to gain a competitive edge. Price competition can be beneficial for consumers as it drives down product costs, but it can also put pressure on profit margins for manufacturers.

  • In December 2021, Hindalco Industries Ltd. completed the acquisition of Hydro’s aluminum extrusion business in India, demonstrating its strategic effort to enhance its position in the higher-value-added market segment.
  • 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 Companies Profiled

  • Hindalco Industries Ltd.
  • Novelis
  • Norsk Hydro ASA
  • Constellium N.V.
  • Arconic Corp.
  • Kaiser Aluminum
  • Alupco
  • Gulf Extrusions Co. LLC
  • Balexco (Bahrain Aluminium Extrusion Company)
  • China Zhonwang Holdings

Aluminum Shapes Gaining Momentum in Automotive and Transportation Sales

Due to its natural malleability, aluminum is ideally suited for extrusion-based shape manufacturing. In this process, heated aluminium billets are compressed firmly utilising a hydraulic press or ram against strong steel dies. Aluminum shapes produced through this procedure closely resemble the outlines of the dies.

Aluminium extrusions are widely used in a variety of parts for trucks, cars, boats and trains in the automotive and transportation industries. These parts include chassis, roof rails, panels, gearbox housings and engine blocks. The need for lightweight structural components has increased since there is a greater emphasis on lowering vehicle weight. As a result, shapes—which currently make up around 80% of the industry—are poised to gain a sizable market share.

Key Segments Covered in the Aluminium Extrusion Market Report

  • By Product 
    • Shapes
    • Rods & Bars
    • Pipes & Tubes
  • By Application 
    • Building & Construction
    • Consumer Goods
    • Automotive & Transportation
    • Electrical & Energy
    • Others

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