According to the latest report by IMARC Group, titled “Aluminum Extrusion Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global aluminum extrusion market size reached 20.3 Million Tons in 2019. Aluminum extrusion refers to the process of transforming aluminum alloys into a specific shape with the help of a cross-sectional die. The extruded alloy is exceptionally light in weight and has a smooth surface finish that can be further buffed, polished, painted or powder-coated for diverse applications. The alloys are highly malleable in nature with high ductility and good electrical and thermal conductivity. Since extruded aluminum is very stable and durable in nature, it can be recycled numerous times without losing its integrity. Owing to the several benefits offered by the alloys, they form an essential component across the electrical, automotive, transportation, consumer durables and construction industries.
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Global Aluminum Extrusion Market Trends:
The global market is primarily driven by increasing green construction across the globe. There has been an increase in the utilization of eco-friendly and energy-efficient construction materials with improved structural strength and low maintenance requirements, which is boosting the sales of extruded aluminum. These aluminum alloys meet the green building standards of numerous countries, and the Leadership in Energy and Environmental Design (LEED), which has led to their widespread utilization for the construction of doors, windows and panels across various ongoing projects. The market is further driven by the rising demand for extruded aluminum from the automotive industry. Manufacturers are utilizing the metal for designing key automobile components to reduce the overall weight, which, in helps improve fuel efficiency and reduce greenhouse gas emissions. This is further supported by the numerous initiatives undertaken by various governments to promote the use of eco-friendly vehicles. However, the overall demand for extruded aluminum has experienced a significant downfall due to the sudden outbreak of the novel coronavirus disease (COVID-19) across the globe. The deaccelerating growth of the construction industry is also expected to negatively impact the market growth. On account of the aforementioned factors, the market is expected to witness steady growth during 2020-2025.
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Key Market Segmentation:
Market Breakup by End-User:
1. Building and Construction
3. Machinery and Equipment
4. Consumer Durables
Based on the end user, the market has been segmented into building and construction, transportation, machinery and equipment, consumer durables, electrical and others. The building and construction segment currently accounts for the majority of the total market share.
Market Breakup by Alloy Type:
1. 1000 Series Aluminum Alloy
2. 2000 Series Aluminum Alloy
3. 3000 Series Aluminum Alloy
4. 5000 Series Aluminum Alloy
5. 6000 Series Aluminum Alloy
6. 7000 Series Aluminum Alloy
On the basis of the alloy type, the market has been divided into 1000, 2000, 3000, 5000, 6000 and 7000 series aluminum alloys. Among these, the 6000 series alloy exhibits a clear dominance in the market.
Market Breakup by Product Type:
1. Mill Finished
3. Powder Coated
Based on the product type, the market has been categorized into mill finished, anodized and powder coated. At present, mill finished represents the leading segment.
Market Breakup by Region:
1. North America
2. Asia Pacific
4. Latin America
5. Middle East and Africa
Region-wise, the market has been classified into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and Middle East and Africa.
The competitive landscape of the market has also been studied in the report with the detailed profiles of the key players operating in the market.
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