Aluminum Extrusion Market Share 2021 Share Evaluation, Upcoming...

Aluminum Extrusion Market Share 2021 Share Evaluation, Upcoming Investments, Recent Developments, Innovations 2030

Posted 2023-01-11 06:00:45

Market Overview

According to global market prospects and analysis, the aluminum extrusion market is projected to register a CAGR of about 6.36% during the forecast period, 2021–2030, with Asia-Pacific being the dominant and fastest-growing regional market globally.

Aluminum extrusion Price is considered as a process to shape the aluminum alloy material by heating it and forcing it with a hydraulic ram through a shaped opening in a die. The alloy is forced through a die with a specific cross-sectional profile, and the extruded material comes out as a long piece with the same profile as the die opening. After extrusion, the hot aluminum profile is quenched, cooled, straightened, and cut into required shapes and forms.

The Aluminum Extrusion Market has processes that makes the most of aluminum’s unique blend of physical characteristics, including malleability, lightweight, and high strength. Its malleability allows it to be easily machined and cast while maintaining one-third of steel's density and stiffness. The resulting products include features like offering strength and stability, particularly when alloyed with other metals. Custom aluminum extruded products last longer than products made from steel, plastic, or other metals. This is mainly due to aluminum's high strength, lightweight, and corrosion resistance.

The direct extrusion method is commonly used for softer alloys in manufacturing solid aluminum bars and rods and hollow tubes and sections. Production of long continuous lengths by adding successive billets to the flow is one of the critical advantages of the direct extrusion process. The indirect method is mainly used to extrude more complex alloys, and because no friction heat is produced in this method, there is less chance of surface tears and cracked edges.

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Market Segmentation

The aluminum extrusion market has been segmented based on the following:

By Product Type:

Mill-finished
Powder-coated
Anodized

By End-use Industry:

Construction
Automotive
Electric and electronics
Machinery & equipment
Mass transport
Others (energy, telecom, and consumer durables)

By Alloy Type:

1000 series aluminum
2000 series aluminum alloy
3000 series aluminum alloy
5000 series aluminum alloy
6000 series aluminum alloy
7000 series aluminum alloy

By Region:

North America
Europe
Asia-Pacific
Middle East & Africa
Latin America

Industry News

The Aluminum Extrusion Market Share in Asia-Pacific accounted for the largest share of over 50% in 2020 and is projected to remain the fastest-growing regional market during the forecast period. This can be attributed primarily to the high demand for the product in the expanding residential and commercial construction sector and the solid automotive manufacturing industry in China, India, and Southeast Asian countries.

Regional Analysis

North America accounted for a significant market share in 2020, owing to the growing construction and automotive industry. Europe held a market share of around 20% of global revenue in 2020. Stringent regulations about the emission of greenhouse gases and high demand for aluminum extruded products in the structural components and battery casings for electric vehicles are expected to drive the regional market's growth. The increasing production of lightweight and electric vehicles in Germany, Spain, France, and Italy is expected to raise the demand for the product in the regional market in the years to follow.

The prominent players of the aluminum extrusion market are mentioned as follows: