Rapid increase in infrastructure activities and increasing investments in construction & building sector to drive the demand for Global Aluminium-Extruded Products Market through 2026.
Global Aluminium-Extruded Products Market stood at USD53073.33 million in 2020 and is projected to grow at a CAGR of 6.71% through 2026 to reach USD79536.24 million by 2026. This is due to increasing focus of automobile manufacturers towards aluminium-extruded products to improve fuel economy, enhance performance and increase their load-carrying capacity. Additionally rapid increase in the application of aluminium-extruded products by different end-user verticals aids the aluminium-extruded products’ market. Usage in transportation and logistics, building and construction, electrical and electronics, and other consumer durables are the primary factors contributing to the growth of the Global Aluminium-Extruded Products Market in the coming years.
Aluminium extrusion transforms aluminium alloys into an extraordinary variety of products for consumers and industrial markets. Aluminium-extruded products are light weight products created by transforming aluminium alloys. These products perform efficiently under extreme conditions like humidity, heat and therefore, find application in numerous end use industries such as electronics, automotive, mass transit, bridge decking.
Based on End-Use Industry the market is segmented into Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others. Building & Construction is the leading End-Use Industry in the Aluminium-Extruded Products Market with a share of 54.38% in 2020. This is due to the increasing inclination towards the adoption of extruded aluminium products by medium and large builders for the construction of high-rise buildings and skyscrapers. The use of aluminium-extruded products in construction reduces the load on foundations which has made it popular among real estate developers.
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Based on Alloy Type, the market is segmented into 1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series. In 2020, 6000 series alloy segment dominated the market with a share of 35.35% and is expected to continue to do so in the forecast period as well. This is due to its versatile, heat treatable, highly formable, weldable, high strength and excellent corrosion resistance nature. These properties increase the application of aluminium-extruded products in architectural and structural purposes. Extrusion products from 6000 series are the first choice for infrastructural and architectural applications.
Based on the region, in 2020, Asia-Pacific region accounted for the largest share of 50.58% in the aluminium-extruded products market owing to well-established automobile and construction industries in this region which generates lucrative growth opportunities for the aluminium-extruded products market. The rapidly increasing infrastructure activities in the region is expected to contribute to the growth of manufacturing industry, thereby creating more demand for aluminium-extruded products in the upcoming years.
Some of the major players operating in the Global Aluminium-Extruded Products Market are United Company RUSAL, Alcoa Corporation, Aluminium Corporation of China Limited, Rio Tinto, Hindalco Industries Limited, Norsk Hydro ASA, Century Aluminum Company, Aluminium Bahrain B.S.C, Constellium SE among others
Extruded aluminium is used for busbars and electrical equipment as it is a good conductor of electricity. Aluminium-extruded with fins makes an excellent radiator or heat exchanger which is easy to mount and color and does not weigh too much when mounted overhead. Many automobile manufacturers such as autos, buses, trucks, and trailers are turning towards aluminium-extruded products to improve their fuel economy, enhance performance and increase their load-carrying capacity are expected to drive the Global Aluminium-Extruded Products Market in the coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Aluminium-Extruded Products Market – by Product Type (Mill-Finished, Anodized and Powder-Coated), By End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others), By Alloy Type (1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series), By Shape (Composite Shapes, Rods & Bars and Pipes & Tubes), By Region, Competition Forecast & Opportunities, 2016-2026,” has evaluated the future growth potential of Global Aluminium-Extruded Products Market and provides statistics information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Aluminium-Extruded Products Market.
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