09 January 2020
Visiongain’s new report Aluminum Extrusion Market Report 2020-2030: Forecasts by Product (Pipes & tubes, Rods & bars, Shapes), Application (Automotive & transportation, Building & construction, Consumer goods, Electrical & energy, Others), and by region and analysis of leading companies operating in this industry.
The global aluminum extrusion market is anticipated to surpass USD 130 billion by 2030 by growing at a lucrative CAGR of 5.6% during the forecast period from 2020 to 2030.
The global market for aluminum extrusion products is driven by its high adoption in the automotive industry as they replace steel in the automotive and transportation industries due to its lightweight nature, resulting in lower fuel consumption and lower greenhouse gas emissions. The recyclable and corrosion-resistant design of the aluminum extrusion materials means that the overall system in which they are used is safe and reliable.
However, the use of aluminum extrusion materials in design and manufacturing is also expected to increase in doors, windows, boards, window frames, ladders, and bridges. However, low awareness of these products is anticipated to hamper the market growth over the forecast period. Emerging economies like India, South Africa, Brazil, and countries in the Middle East offer lucrative market opportunities.
Due to its properties such as good weldability, corrosion resistance, machinability, and electrical conductivity, aluminum extrusion plays a major role in the aerospace industry. The extrusion is used in compartments of galleys and trolleys, instruments, seats and luggage. The number of passengers in the aircraft is expected to reach 8.2 billion by 2037, according to the International Air Transport Association, creating a demand for aircraft in the coming years. Increasing demand for aircraft along with electric & motor vehicles is anticipated in the coming years to accelerate market growth.
The aluminum extrusion market is driven by increased government incentives to use aluminum extrusions in Building Integrated Photovoltaic (BIPVs), which are used to produce renewable energy. Increased demand for infrastructure development, residential and non-residential projects, growing power generation & transmission equipment production, and growing air conditioning units are boosting the market growth.
In the year 2018, Asia Pacific dominated the aluminum extrusion market owing to the growth of manufacturing and construction industries, particularly in China and India, and the Asia Pacific region is anticipated to be the fastest-growing market over the forecast period. The construction industry in China is expected to rise by 25.0% from 2018 to 2021, according to the International Trade Administration. The growth of the industry is due to the growing population and the increasing government focus on the development of infrastructure.
Increasing expenditure per capita and growing product behavior are expected over the forecast period to help grow the aluminum extrusion industry. The production of cars and commercial vehicles in India amounted to 4.48 million units in 2016 and reached 5.17 million units in 2018, according to the International Organization of Motor Vehicle Manufacturers.
Electric vehicles are likely to see increased use of extruded aluminum parts over the forecast period. The demand for electric vehicles is expected to grow rapidly over the coming years and total electric vehicle sales are estimated to have passed the 2 million mark in 2018. It is anticipated that a significant increase in the number of' accessible' EV models will drive sales over the forecast period from 2020 to 2030.
Several manufacturers and suppliers of aluminum extrusion parts are coming up with new technologies and products in this field. Constellium NV, for instance, has developed a new cold-plate system to efficiently cool battery modules in EVs. The novel model of the bent extrusion corner is built without wasting space, drilling chips, and only a small degree of deformation. Tesla-designed Model S uses a four-inch aluminum box which extends throughout the length of the car to protect the battery pack, which becomes three times stronger when connected to the aluminum body frame.
Some of the key aluminum extrusion market players include ALUPCO, Arconic, Balexco BAHRAIN ALUMINUM EXTRUSION COMPANY, Bonnell Aluminum, Capital Aluminum Extrusions Ltd, Century Aluminum, China Zhongwang Holdings Limited, Global Aluminum Pvt. Ltd., Guang Ya Aluminum, Gulf Extrusions Co. LLC., Jindal Aluminum Limited, Norsk Hydro ASA, Novelis, QALEX, TALCO among other prominent players.#
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