The Aluminum Extrusion by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Aluminum Extrusion, The aluminum extrusion market size has grown steadily in recent years. It will grow from $89.37 billion in 2023 to $93.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to emerging markets growth, the growing demand for aluminum in the construction industry, and the increase in demand for lightweight and durable extruded products.
The aluminum extrusion market size is expected to see steady growth in the next few years. It will grow to $113.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, the increasing demand for automotive applications, and the growing demand for aluminum in packaging. Major trends in the forecast period include use of artificial intelligence, strategic partnerships and acquisitions, product innovation, and new plant expansions.
The increase in the construction of green buildings is one of the key factors driving the market growth. Green buildings are environmentally sustainable, energy-saving, and produce low carbon emissions. Aluminium has been a driving force behind the green construction movement because of its unrivaled characteristics. The characteristics of aluminium, such as strong and durable, recyclable, corrosion-resistant, light and malleable, making it apt for sustainable architecture. According to the U.S. Green Building Council (USGBC), India ranked third in Leadership in Energy and Environmental Design (LEED) in 2021 with a total of 146 LEED-certified buildings and spaces, which represents about 2.8 million gross area square meters (GSM) of space. This is an almost 10% increase in LEED-certified space in India from 2020. Thus an increase in the construction of green buildings will lead to the demand for aluminium extrusions.
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The aluminum extrusion market covered in this report is segmented –
1) By Product Type: Mill Finished, Anodized, Powder Coated
2) By Alloy Type: 1000 Series Aluminum Alloy, 2000 Series Aluminum Alloy, 3000 Series Aluminum Alloy, 4000 Series Aluminum Alloy, 5000 Series Aluminum Alloy, 6000 Series
Aluminum Alloy, 7000 Series Aluminum Alloy
3) By End-Use: Building And Construction, Transportation, Machinery And Equipment, Consumer Durables, Electrical, Other End-Uses
Companies in the aluminium extrusion market are focusing on using artificial intelligence (AI) to optimize the extrusion procedure, decreasing material waste and enhancing product quality. AI can also assist in identifying flaws in extruded components, hence minimizing the requirement for manual inspection and enhancing quality control. For example, in April 2023, ASCONA, a German company involved in developing optical profile measuring systems for the aluminium, plastics and rubber industry, and D-CUBE, a Greece-based technology company, announced the launch of a holistic solution for inline surface inspection of aluminium profiles. Promex CYRUS, based on artificial intelligence (AI), detects different types of surface defects in real time, regardless of the shape, number and size of the extruded profile strands and converts them into meaningful warning messages. A holistic cloud-based solution that stores the surface inspection data of each production line in one or more extrusion lines and offers multiple benefits for various departments including plant management, quality assurance, extrusion management, maintenance management, and technology management.
The aluminum extrusion market report table of contents includes:
1. Executive Summary
2. Aluminum Extrusion Market Characteristics
3. Aluminum Extrusion Market Trends And Strategies
4. Aluminum Extrusion Market – Macro Economic Scenario
5. Global Aluminum Extrusion Market Size and Growth
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26. South America Aluminum Extrusion Market
27. Brazil Aluminum Extrusion Market
28. Middle East Aluminum Extrusion Market
29. Africa Aluminum Extrusion Market
30. Aluminum Extrusion Market Competitive Landscape And Company Profiles
Top Major Players:
- Norsk Hydro ASA
- UACJ Corporation
- Constellium N. V
- Kaiser Aluminum
- Hindalco Industries Ltd
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