The Aluminum Extrusion Market is expected to grow at a CAGR of 3.75% to reach USD 13629.5 million by 2028. The global aluminum extrusion market is poised for growth due to the increasing shift towards renewable energy sources, particularly solar power. With limited reserves of fossil fuels and the economic implications of crude oil imports, countries are turning to renewable energy to expand their energy mix and decrease dependence on the global petroleum market. Solar energy, in particular, is gaining traction as an alternative to conventional fuels, especially for countries with few or no petroleum reserves. Aluminum-extruded products are integral to the manufacturing of photovoltaic panels, making them a key component in the solar energy sector. Government support and subsidies for the adoption and utilization of solar power further bolster market growth during the forecast period.
APAC dominates the regional market because of The aluminum extrusion market represents a significant business opportunity due to its extensive applications in various industries, including automotive, construction, packaging, and consumer durables. Aluminum extrusions offer advantages such as lightweight, high strength, and corrosion resistance, making them a preferred choice for manufacturers seeking to enhance product performance and sustainability. Market growth is driven by increasing demand for eco-friendly and energy-efficient solutions, as well as the ongoing trend toward automation and industrialization in developing economies.
There are various factors that drive the Aluminum Extrusion Market market which are as following: The global aluminum extrusion market is experiencing significant growth due to the surging demand from the automotive sector. Over the past five years, the utilization of aluminum-extruded products has escalated, primarily driven by the automotive industry's increasing focus on manufacturing lightweight vehicles. Originally, these products were employed for minor applications such as engine mounts, brake components, and radiator frames. However, current trends indicate that automotive OEMs are increasingly using aluminum-extruded products to produce high-end equipment, including safety components, crash management systems, body-in-white structures, and intricate decorative parts. The expanding economic activities in emerging markets, such as India, Brazil, and Argentina, coupled with rising foreign investments, have led to a substantial increase in per capita income, thereby fueling the demand for aluminum-extruded products in various end-use industries.
Be the first one to get the industry updates. Request for a sample report
Aluminum Extrusion Market Segmentation
The market witnesses several challenges, which are as follows The global aluminum extrusion market is experiencing increased competition from various alternative materials, including conventional steel, iron, polyethylene (PE), high-density polyethylene (HDPE), ductile iron (DI), cement, copper, stainless steel, black steel, and magnesium extruded products. Consumers and end-users are increasingly favoring these alternatives due to their cost-effectiveness and competitive pricing. In particular, copper products, which are widely used in electric and electronics, commercial, and household applications, pose a significant threat due to their superior properties and perceived value enhancement in buildings and homes. Plastics and composite products are also major competitors, offering similar benefits at lower costs. This intense competition is negatively impacting the growth of the aluminum extrusion market.
Stay ahead of your competitors. Download the Free PDF report
Some of the key companies that have been profiled in the report include:
The global aluminum market encompasses businesses involved in the production of aluminum and associated products, comprising entities that mine or process bauxite and those that recycle aluminum to manufacture finished or semi-finished goods. According to Technavio, the market size is determined by the consolidated revenue generated by aluminum producers. Key growth drivers for the aluminum market include the expanding demand from various industries, such as construction, electrical, and transportation. The increasing population, urbanization, and economic growth are fueling the need for construction projects, automobiles, and electricity, consequently boosting the demand for aluminum. - The Aluminum Extrusion Market is experiencing significant growth, fueled by the Increasing demand for aluminum extrusion in automotive industry. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
The Aluminum Extrusion Market is witnessing significant growth due to the increasing demand for aluminum shapes in various industries. Aluminum extrusion involves the use of high pressure and heating to force aluminum billets through steel dies to create desired shapes. The process employs hydraulic presses with a ram to apply pressure, resulting in malleable and versatile aluminum products. Production technologies such as direct extrusion and hot extrusion are used to create unique shapes and characteristics, making aluminum an excellent direct substitute for steel in numerous applications. The extrusion process's automation and ability to produce lightweight parts at low costs have made it a preferred choice in construction and aerospace sectors. Unique characteristics like high strength-to-weight ratio, formability, and excellent corrosion resistance make aluminum an ideal material for various industries. However, stringent regulations and economic fluctuations can impact the market's growth. Collaborations between aluminum extrusion companies and construction and aerospace industries are essential to ensure the production of high-quality, compliant, and sustainable extruded products. Moreover, the shift towards reducing CO2 emissions has increased the demand for aluminum as a low-carbon alternative to steel, further boosting the market's growth. The aluminum extrusion market is expected to continue its upward trend, with applications in construction sectors, aerospace & defense, and automotive industries driving the demand for extruded aluminum shapes.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
