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Aluminum Extrusion Market To Reach USD 194.83 Billion By Year 2032

Aluminium Extrusion Market Size Was Valued at USD 126.67 Billion in 2023 and is Projected to Reach USD 194.83 Billion by 2032, Growing at a CAGR of 4.9 % from 2024-2032.

08-07-2024
Vishal Panchmukh
Chemical and Materials
Pristine Intelligence LLP

According to a new report published by Pristine Market Research, titled, “Aluminum Extrusion Market by Product, Alloy Type, End Users, and Region Global Market Analysis and Forecast, 2024-2032. The Global Aluminum Extrusion Market Size Was Valued at USD 126.67 Billion in 2023 and is Projected to Reach USD 194.83 Billion by 2032, Growing at a CAGR of 4.9 % from 2024-2032.

Aluminum extrusion is a process where aluminum is formed through a die shape, resulting in products that are shaped like the die. These products are then cooled and straightened. They come in three forms: hollow, semi-hollow, and solid. Aluminum is widely used in various industries, including construction, automotive, and electrical. Its low weight and high strength-to-weight ratio make it ideal for large structures. Its tensile strength and rigidity make it deformation-resistant, and its resistance to corrosion makes it popular in the electrical, electronics, and medical sectors. However, the high initial setup costs and low production efficiency may hinder its market growth. Despite these challenges, aluminum extrusion is widely used in various sectors, including electrical, hardware, transportation, construction, consumer goods, architecture, automotive, electronics, and aerospace. The growth of aluminum is driven by green initiatives and its unique properties, including strength, ductility, conductivity, non-magnetic properties, and the ability to be recycled multiple times without losing integrity.

According to the Aluminum Extrusion, the Market is segmented into Product, Alloy Type, and End User. By Product, the market is categorized into Tubes & Pipes, Rods & Bars Shapes. By Alloy Type, the market is categorized into 2000 Series Aluminum, 3000 Series Aluminum, 5000 Series Aluminum, 6000 Series Aluminum, and 7000 Series Aluminum. By End-User, the market is categorized into Building and Construction, Automotive and Transportation, Electrical and Electronics, Consumer Goods, and Machinery. By region, it is analysed across North America (U.S.; Canada; Mexico), Europe (Germany; U.K.; France; Italy; Russia; Spain, etc.), Asia-Pacific (China; India; Japan; Southeast Asia, etc.), South America (Brazil; Argentina, etc.), Middle East & Africa (Saudi Arabia; South Africa, etc.).

The construction sector is experiencing a surge in demand due to the growing demand for green buildings, which are eco-friendly, energy-efficient, and emit minimal carbon. Extruded aluminum is a popular choice for creating windows and doors for these buildings. The process involves shaping aluminum through a die or mold, subjecting it to high pressure, and cooling it before further processing to ensure it becomes straight. This method can produce various products, regardless of shape or size.

The demand for personalized extruded aluminum products is increasing, creating opportunities for manufacturers and entrepreneurs to enter the industry. The aluminum extrusion process allows for the creation of various sizes and shapes using the same machinery, reducing costs. Investing in extrusion equipment can increase revenue over time, and the rising demand for customized products is expected to lead to more market expansion opportunities.

Global Aluminum Extrusion Market, Segmentation

Aluminium Extrusion Market is Segmented Based on Product, Alloy Type, and End User and Region.

By Product:

Shape Segment Is Expected to Dominate the Market During the Forecast Period. shapes accounted for over 79.0% of the aluminum extrusion market revenue In 2023. Aluminum's flexibility allows for the creation of various shapes through extrusion, where billets are heated and pressed against steel dies. These forms are used in various parts in the automotive and transportation sector, such as transmission housings, chassis, panels, engine blocks, and roof rails. The increasing demand for lighter-weight structural components in cars is driven by the need for lighter components. The extrusion process involves heating aluminum billets, passing them through rolls, and pulling them through intricate dies to form rods, bars, and tubes. These lightweight scaffolding systems offer benefits like improved stability, decreased weight, and greater flexibility compared to traditional options.

By End User Type:

The Building and Construction Segment Held the Largest Share. The building and construction sector dominated the market in 2023, with a revenue share of 60.0%. China is leading the industry, with the highest nominal value. The automotive & transportation sector is expected to grow at a profitable CAGR, with aluminum extrusions playing a crucial role in various vehicle parts. China is currently at the forefront of the construction industry, with continuous investments in new housing developments expected to drive growth.

Region:

The Asia Pacific region is expected to dominate the global aluminum extrusion market over the forecast period due to strong industrial manufacturing sectors in countries like China, India, Vietnam, Japan, and South Korea. The rapid increase in motor vehicle production in India and Thailand and the rise in aluminum extruded products have created profitable opportunities in the region, excluding China. High-performance vehicles prefer aluminum extruded products for their lightweight and structural strength, and China is expected to play a key role in driving industry growth in these countries due to its large construction sector.

Some of The Leading/Active Market Players Are-

  • Alcoa Corporation (U.S.)
  • Kaiser Aluminum (U.S.)
  • Arconic Inc. (U.S.)
  • Sapa Extrusions Inc. (U.S.)
  • Bonnell Aluminum (U.S.)
  • KUMZ (Kamensk Uralsky Metallurgical Works) (Russia)
  • Norsk Hydro (Norway)
  • Constellium (France)
  • Sapa Group (Norway)
  • Hydro Aluminium Rolled Products (Germany) and Other Active Players

Key Industry Developments

  • In August 2023, Hydro announced a commitment of NOK 67 million (equal to approximately EUR 6 million) to improve its aluminum extrusion plant in Lucé, France. This investment was designated for the upgrade of the plant's equipment, buildings, and infrastructure, as well as the launch of a new program focused on employee development. This strategic investment is intended to enhance the facility's capabilities, keeping it up-to-date in aluminum extrusion technology and practices, as well as focusing on the growth and skills improvement of its workforce.
  • In August 2023, Alba, a major aluminum producer on a global scale, grew its range of AA6060 alloys with the launch of a new alloy called '6060.HE'. This latest inclusion is designed specifically to cater to the requirements of Alba's customers who use extruders. The 6060. Alloy was created through a collaboration involving Alba, the University of Bahrain, and the Bahrain Aluminium Extrusion Company (Balexco). This partnership aimed to improve research and studies in the manufacturing of this alloy, marking a major advancement in Alba's dedication to innovation and customer-focused product development in the aluminum extrusion industry.

Key Findings of the Study:

  • The Asia Pacific region is expected to dominate the market over the forecast period, driven by strong industrial manufacturing sectors in countries like China, India, Vietnam, Japan, and South Korea.
  • The construction sector is experiencing increased demand for aluminum extrusions due to the growth of green buildings.
  • The automotive and transportation sector is expected to grow significantly, driven by the demand for lightweight vehicle components.
Pristine Intelligence LLP

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