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The aluminum extrusion market size is estimated to grow at a CAGR of 4.7% between 2022 and 2027 with the market size forecast to increase by 8.45 million t.
This aluminum extrusion market report extensively covers market segmentation by End-user (building and construction, automotive and transportation, machinery and equipment, consumer durables, and others), Product (mill-finished, anodized, and powder coated), and Geography (APAC, Europe, North America, South America, and Middle East and Africa). Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.
The growth of the market depends on several factors, including the increasing demand for aluminum extrusion in the automotive industry, the growth of the real estate and construction industry, and the growing demand for lightweight and high-performance materials.
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Extrusion is used to develop objects of a fixed cross-sectional profile, which is moved through a die of the cross-section. In aluminum extrusion, the metal is forced through a die of the desired cross-sectional shape. Aluminum extrusion imparts flexibility, strength, and durability to products and sustainability in diverse sectors, including construction, electrical, machinery, transportation, and consumer durables.
The market share growth by the building and construction segment will be significant during the forecast period. Aluminum is one of the most sustainable, energy-efficient, and recyclable construction materials. It is favored in the building and construction industry owing to its high recyclability.
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The building and construction segment was valued at 17.43 million t in 2017 and continue to grow by 2021. Aluminum-extruded products are increasingly being used in building and construction applications, such as doors, windows, panels, windows frames, ladders, and bridges. Aluminum-extruded products are widely used in the building and construction segment due to various advantages such as strong structural strength, recyclable properties, durability, and low maintenance. Such factors will increase the market at a rapid pace during the forecast period.
Based on the product, the mill-finished segment holds the largest market share. Mill-finished aluminum-extruded items often need surface treatment like etching, machining, and polishing. They are used in automotive interiors, aircraft, and interior decoration due to surface imperfections. These products are prone to scratches and nicks during production, transport, handling, and installation.
Aluminum's reactivity leads to the formation of a protective aluminum oxide layer when exposed to moisture, salt, air, or water. These products find applications in automotive, construction, and other industries. The growing construction sector in developing nations and real estate recovery in developed ones will boost the mill-finished aluminum-extruded product segment, driving market growth during the forecast period.
APAC is estimated to contribute 70% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In 2022, the Asia-Pacific (APAC) region dominated the global aluminum extrusion market and is projected to maintain its lead in growth. APAC benefits from a large consumer base, abundant raw materials, and cost-effective labor. Key drivers in the APAC aluminum extrusion market include its use in the automotive, transportation, and construction industries. Prominent automotive manufacturers in countries like China, India, Japan, and South Korea are boosting demand for aluminum extrusion in various vehicle components. These components play vital roles in automotive structures, powertrains, and interiors, driven by increased automobile production.
China, a major player in aluminum production and consumption, leads the APAC market, supported by growth in the construction and automotive sectors. Government incentives favoring electric vehicles and robust construction activities contribute to aluminum extrusion adoption. Aluminum-extruded products, known for durability and resilience, are well-suited for construction projects like buildings and bridges. India's ambitious plan to develop numerous airports with significant investments over the next 15-20 years will stimulate construction and the demand for aluminum extrusion, driving market growth in the region.
The global aluminum extrusion market is rapidly expanding, primarily driven by surging demand from the automotive sector. Over the past five years, there's been a substantial increase in the use of aluminum-extruded products, mainly due to the need for lighter vehicles. Originally reserved for basic applications like engine mounts and brake components, these products are now integral to manufacturing high-end equipment, such as safety components and crash management systems.
Economic growth and increased foreign investments in emerging markets, including India, Brazil, and Argentina, have boosted consumer incomes, enabling more car purchases. This, combined with inadequate public transportation in crowded urban areas, is expected to boost vehicle ownership, fueling the automotive industry's growth.
Increasing demand for solar energy is a key trend influencing the growth of the market. The increasing emphasis on energy security is set to drive the demand for renewable energy sources, reducing reliance on finite fossil fuel reserves. Solar energy, in particular, offers a sustainable alternative, especially for countries with limited or no petroleum resources. Unlike traditional fuels, solar energy is emissions-free. Aluminum-extruded products play a significant role in constructing photovoltaic panel frames, supporting the solar energy industry's growth.
Government incentives and subsidies for solar power installation further bolster the global aluminum extrusion market. According to the IEA, solar photovoltaic capacity additions are expected to double from 39 GW (2010-2016) to 74 GW (2017-2040), driven by installations in China, the US, India, Japan, the UK, and Germany. This transition reduces developing nations' reliance on costly fossil fuels, making aluminum extrusion products essential for the solar energy sector's expansion.
The increasing demand for lightweight vehicles has driven the expanded utilization of carbon fiber composites, with the automotive sector being a primary consumer. These composites can slash car weight by 40%-50% and enhance fuel efficiency by 30%-35%. Consequently, the automotive industry, particularly in the premium car segment, exhibits growing demand for carbon fiber composites.
Another significant challenge for the global aluminum extrusion market is the rising adoption of glass fiber-reinforced plastic in the automotive and construction sectors. These products, characterized by corrosion resistance and high-strength glass fibers bonded with epoxy resin, offer superior properties. They find applications in diverse industries such as building and construction, aerospace, automotive, and transportation, posing as readily available alternatives. This availability of substitutes acts as a limiting factor for the global aluminum extrusion market throughout the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Adityabirla- The company offers automotive aftermarket such as 3M scratch removal system.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Al Ghurair First LLC, Arconic Corp., Bahrain Aluminum Extrusion Co., Century Aluminum Co., China Zhongwang Holdings Ltd., Constellium SE, Global Aluminium Pvt. Ltd., Guang Ya Aluminium, Guangdong Xingfa Aluminium Co. Ltd., Jindal Aluminium Ltd., Kaiser Aluminum Corp., National Material L.P., Norsk Hydro ASA, Qatar Aluminum Extrusion Co., Sankyo Tateyama Inc., Tajik Aluminium Co., Tredegar Corp., UACJ Corp., and Vimetco NV
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Aluminum Extrusion Market Customer Landscape
In 2020, the regional market was adversely affected by COVID-19, particularly impacting major sectors like transportation and construction. However, with the rollout of vaccines, the latter half of 2021 saw a decline in COVID-19 cases, leading to the easing of restrictions in APAC. During 2021, the regional automotive industry rebounded, with China's new energy vehicle (NEV) sales surging by over 2 million units compared to 2020. Construction projects resumed across APAC, and residential sales in India in Q1 2021 rebounded to more than 90% of Q1 2020 levels. India's government also increased infrastructure spending by 26% for 2021-2022, further boosting the regional market's growth prospects in the forecast period.
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Aluminum Extrusion Market Scope |
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Report Coverage |
Details |
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Page number |
172 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.7% |
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Market growth 2023-2027 |
8.45 mn t |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
4.19 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 70% |
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Key countries |
US, China, Japan, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Aditya Birla Management Corp. Pvt. Ltd., Al Ghurair First LLC, Arconic Corp., Bahrain Aluminum Extrusion Co., Century Aluminum Co., China Zhongwang Holdings Ltd., Constellium SE, Global Aluminium Pvt. Ltd., Guang Ya Aluminium, Guangdong Xingfa Aluminium Co. Ltd., Jindal Aluminium Ltd., Kaiser Aluminum Corp., National Material L.P., Norsk Hydro ASA, Qatar Aluminum Extrusion Co., Sankyo Tateyama Inc., Tajik Aluminium Co., Tredegar Corp., UACJ Corp., and Vimetco NV |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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