The aluminum extrusion market is expected to increase at a 4.6% CAGR from 2023 to 2033, from USD 126.67 billion in 2023 to USD 195.48 billion by 2033.
The aluminum extrusion market offers various opportunities for growth and development to players. Here are some of the opportunities available
Overall, the aluminum extrusion market offers a wide range of opportunities for growth and development, and companies that can innovate and stay ahead of the competition are likely to succeed in this industry.
Rising Building Industry Demand
One of the primary aspects driving market expansion is the rising construction of green buildings. Green buildings are environmentally friendly, energy-efficient, and emit little carbon, which makes them popular around the world. Extruded aluminum is in great demand in the construction sector as it is hugely used in the fabrication of windows and doors of green buildings.
Aluminum extrusion is the method of shaping aluminum using an aperture shaped in the die or mold to produce the desired end product. The extrusion process applies high pressure to the aluminum in order to acquire the desired sections by directional deformation from an extrusion device.
When the extrusion process is finished, the extruded product is allowed to cool before being treated forward to make it completely straight. This extrusion technique can be used to create a wide range of goods, regardless of shape or size.
| Report Attribute | Details |
|---|---|
| Aluminum Extrusion Market Value (2023) | USD 126.67 billion |
| Aluminum Extrusion Market Anticipated Value (2033) | USD 195.48 billion |
| Aluminum Extrusion Market Growth Rate (2023 to 2033) | 4.6% CAGR |
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The aluminum extrusion market accounted for worth USD 121.10 billion in 2022, growing at a 3.8% CAGR from 2018 to 2022.
Extrusion is the technique of turning aluminum or an aluminum alloy into a certain shape or profile for a range of applications. Aluminium is a versatile metal that can be formed into thin, lightweight, curved and nearly crushable sheets. The metal is permanently transformed by a thermomechanical manufacturing process. Extrusion may create any complex shape, such as tubes, profiles, rods, and other objects.
Extrusion is used in a variety of industries, including architecture, development, vehicles, electronics, aerospace, transportation, consumer durables, and others due to its exceptional features. The development of aluminum is being driven by the widespread use of green initiatives.
These applications are only conceivable because of aluminum’s beneficial properties, which include its unique combination of strength and ductility, conductivity, non-magnetic properties, and ability to be recycled repeatedly without losing integrity. Because of these qualities, aluminum extrusion is a viable and versatile solution for numerous manufacturing applications.
| Historical CAGR (2018 to 2022) | 3.8% |
|---|---|
| Forecast CAGR (2023 to 2033) | 4.6% |
As per the FMI analysts, a valuation of USD 195.48 billion by 2033 end is estimated for the market.
| Year | Market Value |
|---|---|
| 2016 | USD 92.46 billion |
| 2021 | USD 115.77 billion |
| 2022 | USD 121.10 billion |
| 2023 | USD 126.67 billion |
| 2033 | USD 195.48 billion |
The aluminum extrusion market is expanding at a steady rate due to increased demand for lightweight and robust extruded products in various industries. The excellent strength-to-weight ratio of aluminum extruded products makes it perfect for huge projects of buildings to provide strength at less weight. Together with the lightweight structure of aluminum, the corrosion resistance supplied is the second most essential attribute of extruded aluminum goods.
The strong corrosion resistance aluminum extruded goods may be used in any weather condition and any location, proving to be a market-driving factor for extruded aluminum products. Furthermore, such items or materials extruded from aluminum that exhibit great corrosion resistance minimize the overall maintenance cost for numerous industrial equipment.
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Abrasion, heat, humidity, and vibrations do not affect the performance of aluminum-extruded objects. The automotive and transportation industries are seeing an increase in the amount of aluminum used in internal combustion engines and electric vehicles (EVs), which is expected to drive increasing demand for aluminum extrusion. Furthermore, rising government incentives to employ aluminum extrusions in building integrated photovoltaic (BIPV) systems, as well as rising building and construction industry development, are expected to add to market expansion.
The high initial expenses associated with aluminum extrusion for establishing the total manufacturing unit, as well as the low production efficiency, may impede market expansion. The expense of putting up the machinery and the massive infrastructure required for the extrusion press necessitates significant expenditure. Moreover, the extrusion process is inherently sluggish, that’s why aluminum extrusion cannot attain continuous output. With these two elements, the aluminum extrusion market experiences highs and lows, affecting the market's overall growth.
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The industry is creating new doors for manufacturers and start-up owners to commence production and attract various clients as demand for customized and flexible designs for extruded aluminum products rises. Manufacturers may build a wide range of products, regardless of size or shape, using the aluminum extrusion method. A single piece of equipment can help in generating a variety of products without incurring any additional fees due to the machinery.
Increasing Preference for Aluminum Extrusions over Steel Owing to Superior Performance
Aluminum is a lightweight metal, with around 1/3rd of the weight of steel or copper. However, its strength-to-weight ratio is high, which makes aluminum extrusions suitable for the construction industry.
Aluminum is around 43 times strong than wood. If it is properly treated or alloyed, it can be strong than some steel grades as well. The ultimate tensile strength of aluminum material can reach up to 90,000 psi (pounds per square inch) or even more. Thus, the manufacturing sector is taking efforts to replace steel with aluminum.
The global manufacturing sector is gradually advancing towards a non-plastic world owing to the adverse effects of oil-based plastic materials on nature. Aluminum is one of the prominent sustainable materials and the most abundant metal on the earth’s crust. Although steel is the most widely used alloy across the globe, the aluminum market has significantly high potential.
Aluminum scrap can be completely recycled into new aluminum extrusions. The development of aluminum is being fuelled by the use of green activities. The use is only conceivable because of the advantageous qualities of aluminum, which range from its unique balance of strength and durability to its conductivity, non-magnetic properties, and ability to be reused again without losing integrity. Moreover, aluminum extrusion is a feasible and versatile solution for an increasing range of manufacturing needs because of these capabilities.
While the aluminum extrusion market offers various opportunities for growth and development, there are also several factors that may limit its growth. Some of the key factors are
Competition from Other Materials: Aluminum extrusions face stiff competition from other materials such as steel, composites, and plastics. These materials are often cheaper, easier to manufacture or have better properties in certain applications.
Fluctuating Raw Material Prices: The cost of aluminum, the primary raw material used in extrusion, can be volatile and unpredictable. This can impact the profitability of companies in the industry and limit their ability to invest in new technology or expand operations.
Energy-intensive Production: Aluminum extrusion is an energy-intensive process requiring significant amounts of electricity and heat. This can make production costs high, especially in regions with high energy costs.
Environmental Concerns: The production of aluminum extrusions can have a significant environmental impact, particularly in terms of energy consumption and greenhouse gas emissions. This has led to increased scrutiny from regulators and customers, who may prefer more sustainable and eco-friendly alternatives.
Trade Barriers: The aluminum extrusion market is subject to trade barriers such as tariffs and quotas, which can limit growth and increase costs for companies operating in different regions.
Overall, while the aluminum extrusion market has significant growth potential, companies operating in this industry need to be aware of these factors and be prepared to adapt to changing market conditions. This may require investing in new technologies, improving sustainability practices, or exploring new markets and applications.
Excellent Growth Outlook Foreseen for Asia Pacific Excluding China, Europe, & North America Due to Growing Adoption of Aluminium Extruded Products
Asia Pacific excluding China holds high growth potential for the aluminum extrusions market.
Motor vehicle production in India and Thailand is growing at a significant pace along with the increasing usage of aluminum extruded products per vehicle. This has resulted in lucrative opportunities in the aluminum extrusions market of Asia Pacific excluding China.
As weight reduction of a motor vehicle is always desirable to improve its fuel efficiency without compromising the strength of the vehicle, high-performance vehicles prefer maximum use of aluminum extruded products due to their lightweight and structural strength.
Rapidly Growing Construction Industry: The construction industry in Asia Pacific is growing rapidly, driven by urbanization, population growth, and increasing demand for infrastructure. Aluminum extrusions are widely used in the construction industry for building facades, windows, doors, and other applications due to their lightweight, durability, and corrosion-resistant properties.
Growing Demand for Automotive Applications: The automotive industry in Asia Pacific is also growing rapidly, with increasing demand for lightweight and fuel-efficient vehicles. Aluminum extrusions are widely used in the automotive industry for parts such as body frames, engine components, and suspension systems.
Increasing Demand for Packaging: The demand for eco-friendly and sustainable packaging materials is growing in Asia Pacific. Aluminum extrusions are widely used in the packaging industry due to their lightweight, corrosion-resistant, and barrier properties.
Increasing Focus on Sustainability: Many countries in Asia Pacific are increasingly focused on sustainability and reducing their environmental impact. Aluminum extrusions offer a sustainable and eco-friendly alternative to other materials such as steel and plastics.
Favorable Government Policies: Many countries in Asia Pacific have favorable government policies and initiatives to support the growth of the aluminum extrusion industry. For example, India's National Aluminium Policy aims to increase domestic production of aluminum and encourage the use of aluminum in various industries.
| Countries | CAGR (2018 to 2022) |
|---|---|
| North America | 2.9% |
| Latin America | 1.8% |
| Europe | 1.7% |
| China | 3.8% |
| Asia Pacific | 4.4% |
| The Middle East & Africa | 0.9% |
Rapid Deployment of Extruded Aluminum to Upsurge Market Growth
The United States is anticipated to play a significant role in the development of the aluminum extrusion market owing to the presence of a massive automotive industry and the increasing industrial use of extruded aluminum.
The expansion of the aluminum extrusions industry in the United States might be supported by a shift toward the adoption of green buildings, hence the demand for extruded aluminum is increasing.
Strong Manufacturing Capabilities of China to Fuel Demand for Aluminum Profiles
China, the leading market for aluminum extrusions, accounts for 59.5% share of the global market value.
Evolving manufacturing sector in the country and the rising per capita GDP have resulted in demand for world-class infrastructure in the country. The building & construction industry to propel the demand for aluminum profiles in China.
Rapid urbanization, rising per capita income, and an increasing population are a few important factors driving market expansion in China, resulting in increased investments in the residential and infrastructural sectors.
With the presence of key growing economies and the region's total growth ratio, the Asia Pacific region is the most prominent. The rapid industrial transformation in the mentioned region has increased demand for aluminum extrusion goods, which are now among the most widely used products in the industry.
As the world's most important industrial region, Europe is home to a wide range of sectors and ranks among the leading sector in the automotive industry. Hence, it is quite evident why the aluminum extrusion market expansion has a substantial market value in Europe.
Aluminium Extrusions Playing Significant Role in Integrated Engineering Solutions for Automotive Chassis
Automotive chassis is likely to remain the highest-selling product category in the market. Aluminum is quickly becoming the most common vehicle material. Aluminum's increasing use in chassis applications, vehicle closing parts, and body-in-white parts are fuelling market expansion further. As a result, manufacturers are changing with new mobility norms to boost demand for automotive chassis.
Several manufacturers and suppliers of aluminum extrusion parts are developing new products and breakthroughs in this industry. Aluminum extrusion parts have high thermal conductivity, making them a great choice for eliminating heat from a vehicle.
Growing Use of Aluminum Extrusions for Structural Support in the Building & Construction Industry
The building & construction industry is likely to remain the top consumer industry in the aluminum extrusions market. Desirable physical properties of aluminum such as lightweight, structural strength, water resistivity, eco-friendliness, and others, have made the usage of aluminum extrusion a prominent material in building & construction.
The heat resistance of aluminum makes aluminum extrusions desirable for the construction of energy-efficient buildings in terms of maintaining internal temperature and reducing the energy requirement in heat exchangers for maintaining the temperature.
Various surface finish techniques such as anodizing, coating, chemical polishing, and others add to the aesthetics of aluminum extrusions, making them suitable for interior design.
There have been several key developments in the aluminum extrusion market in recent years. Here are some of the most significant ones
Industry Consolidation: The aluminum extrusion industry has seen a significant amount of consolidation in recent years, with major players acquiring smaller companies to expand their operations and capabilities. This has led to increased competition and consolidation of market share among a few major players.
Advancements in Technology: Advances in extrusion technology have allowed for greater precision, efficiency, and customization in the manufacturing process. New extrusion technologies such as Hydro's Direct Chill Casting technology have enabled manufacturers to produce larger and more complex shapes with higher accuracy and consistency.
Sustainability Initiatives: Many companies in the aluminum extrusion market have taken steps to improve their sustainability and reduce their environmental impact. This includes using recycled aluminum, improving energy efficiency in production, and reducing waste and emissions.
Shift Towards Lightweight Materials: The demand for lightweight materials in various industries, such as automotive, aerospace, and packaging, has led to an increased demand for aluminum extrusions. Aluminum extrusions offer a lightweight and durable alternative to other materials such as steel and plastics.
Growing Applications in Emerging Markets: The growing construction, automotive, and packaging industries in emerging markets such as China, India, and Southeast Asia have presented significant growth opportunities for the aluminum extrusion market. Companies are expanding their operations and investing in new technologies to meet the growing demand in these regions.
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| Attribute | Details |
|---|---|
| Market Size Value in 2023 | USD 126.67 billion |
| Market Size Value at End of Forecast (2033) | USD 195.48 billion |
| Market Analysis | USD billion for Value |
| Key Region Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific; The Middle East & Africa |
| Key Segments | By Product, By End User, By Region |
| Key Companies Profiled | Hindalco Industries; Jindal Aluminium Limited; China Zhongwang Holdings Limited; Constellium N.V.; Hydro Extrusions; Arconic Inc.; Zahit Aluminum; Bonnell Aluminum, SKM Co., Ltd.; Keymark Corporation; Kaiser Aluminum Corp.; Hulamin Ltd.; WISPECO Aluminium |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The overall market is expected to progress with a CAGR of 4.6% until 2033.
The global revivable yeast market size is forecasted to be near USD 195.48 billion by 2033.
Sales in the Asia Pacific countries witnessed an average annual growth of 4.4% from 2018 to 2022.
The global demand for aluminum extrusions surged at an average 3.8% CAGR from 2018 to 2022.
Use of aluminum extrusions for manufacturing of automotive chassis to remain the leading segment.
1. Executive Summary | Aluminum Extrusions Market 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Shapes 5.2. Rods & Bars 5.3. Pipes & Tubes 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Building & Construction 6.2. Consumer Goods 6.3. Automotive & Transportation 6.4. Electrical & Energy 6.5. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 7.1. North America 7.2. Latin America 7.3. Europe 7.4. Asia Pacific 7.5. MEA (Middle East & Africa) 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Key Countries Market Analysis 14. Market Structure Analysis 15. Competition Analysis 15.1. Hindalco Industries 15.2. Jindal Aluminium Limited 15.3. China Zhongwang Holdings Limited 15.4. Constellium N.V. 15.5. Hydro Extrusions 15.6. Arconic Inc. 15.7. Zahit Aluminium 15.8. Bonnell Aluminium 15.9. Keymark Corporation 15.10. Kaiser Aluminium Corp. 15.11. Hulamin Ltd. 15.12. WISPECO Aluminium 16. Assumptions & Acronyms Used 17. Research Methodology
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Aluminum Extrusion Market
