by on January 18, 2024
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The aluminum extrusion process allows the production of a wide variety of aluminum profile shapes and complex geometries. Aluminum extrusions are used widely in the construction industry for windows, doors, and structural framing. In the transportation industry, aluminum extrusions are utilized for automotive body panels, wheels, and other components owing to their corrosion resistance and lightweight properties. They are strong yet malleable and can be easily recycled, making them an eco-friendly material choice.

The global aluminum extrusion market is estimated to be valued at US$ 110 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

Rising popularity of lightweight aluminum in automotive industry: Automakers are increasingly adopting aluminum to reduce vehicle weight and boost fuel efficiency as per emission norms. Weight reduction of even a few kilograms helps improve mileage and performance. Aluminum extrusions are a popular choice due to their formability and recyclability. According to recent reports, the aluminum content in average passenger vehicles has increased from approximately 133 pounds in 2000 to almost 300 pounds currently. This growing shift towards aluminum body panels is driving demand for aluminum extrusions in automotive applications.

High corrosion resistance: Another key growth driver for aluminum extrusions is their resistance to corrosion from various environmental conditions like moisture, chemicals, salt etc. This makes them suitable for use in façades, door and window frames that are exposed to outdoor weathering. Their corrosion resistance helps reduce maintenance costs and extend product life, offering good value proposition compared to other metals. The excellent weatherability of aluminum extrusions is fueling their increasing uptake across construction and infrastructure segments.

SWOT Analysis

Strength: Aluminum extrusion offers high strength to weight ratio, corrosion resistance and formability which makes it suitable for a wide range of applications in transportation, building & construction and consumer durables. Its recyclability also strengthens sustainability. Being lightweight it also helps lower transportation costs. Advances in extrusion technology have boosted output and varieties of extrusions available.

Weakness: Aluminum's cost of production though declining remains higher than other competing metals like steel. Being soft in nature it requires heat treatment or alloying for high strength applications.

Opportunity: Growing demand for green and sustainable materials in construction and automotive sectors offers opportunities. Shift towards electric vehicles and renewable energy increases scope as aluminum is extensively used in these industries. Regional capacity expansions in Asia and global infrastructure push opens up new markets.

Threats: Rising energy costs and volatile aluminum prices impacts the industry. Substitute materials like composites and plastics pose threat in specific applications. Economic slowdowns dampen demand from end-use sectors. Trade restrictions and geopolitical tensions affect supply chain.

Key Takeaways

The Global Aluminum Extrusion Market Demand is expected to witness high growth. The global aluminum extrusion market is estimated to be valued at US$ 110 Bn in 2023 and is expected to exhibit a CAGR of 5.2% over the forecast period 2023 to 2030.

Regional analysis related content comprises Asia Pacific region is the largest and fastest growing regional market for aluminum extrusions led by China, India and other Southeast Asian countries where demand from construction and automotive industries is dominating.

Key players related content comprises Key players operating in the aluminum extrusion market are Kaiser Aluminum Corporation, constellium, Hydro extruded solutions, Sapa Extrusion Inc., Exxon Mobil Corporation, Novelis Inc., Bristol Metals, LLC, Hindalco Industries Limited, Gulf Extrusions Co. (LLC), TALCO Aluminium Company.

Explore more information on this topic, Please visit - 

https://www.pressreleasebulletin.com/aluminum-extrusion-market-share-and-demand-analysis/ 

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https://www.insightprobing.com/geotextile-market-share-and-demand-analysis/ 

 

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