Market for Aluminum Extrusion Witnesses High Growth Owing to Rising Construction Activities & Increasing Automotive Production

Market Overview:
Aluminum extrusion is a process used to produce objects with a fixed cross-sectional profile and length from a thermoplastic or liquid material such as aluminium. It is used in a wide range of industries such as construction, transportation, machinery and equipment industry due to its excellent physical and mechanical properties such as corrosion resistance, light weight, durability and workability. In construction industry, aluminum extrusions are used for doors, windows, curtain walls, and structures. In the automotive industry, it is used in engine components, wheels, vehicle bodies among others.

Market Dynamics:
The Aluminum Extrusion Market Demand is driven by rising construction activities across the globe owing to rapid urbanization and growing population. According to the United Nations, around 68% of the world population is projected to live in urban areas by 2050. This rising urbanization has significantly increased the demand for residential and commercial buildings which utilize aluminum extrusion for various applications. Furthermore, increasing automotive production especially in Asia Pacific is also fueling the market growth. Countries such as China, India and Indonesia are witnessing high sales of passenger and commercial vehicles which utilize aluminum extrusion in their manufacturing. Aluminum extrusion provides advantages such as corrosion resistance, light weight and easy fabrication which makes it an ideal material for the automotive industry.

SWOT Analysis

Strength: Aluminum extrusion has high strength to weight ratio making it ideal for transportation and construction applications. It has high corrosion resistance and is 100% recyclable giving it sustainability credentials. It can be easily extruded into a wide variety of cross-sectional shapes.

Weakness: Aluminum extrusion is more expensive than other metals like steel. The extrusion process requires expensive tooling and dies. Fluctuating aluminum prices impact production costs. Aluminum is softer than other metals and requires protective coatings for some applications.

Opportunity: Growing construction and automotive industries in emerging economies increase the demand for aluminum extrusions. Rising sustainability priorities boost the use of fully recyclable aluminum. New aluminum alloys expand the potential applications for extrusions.

Threats: Substitution threat from cheaper and innovative materials like composites and plastics in some non-structural applications. Trade barriers and geopolitical tensions disrupt aluminum supply chains. Stringent environmental regulations increase production costs.

Key Takeaways

The global aluminum extrusion market is expected to witness high growth, exhibiting CAGR of 8% over the forecast period, due to increasing construction and automotive production globally. Aluminum extrusions find wide usage in building facades, window frames, vehicle components and other applications demanding high strength and corrosion resistance.

Regional analysis: Asia Pacific dominates the global aluminum extrusion market, accounting for over 40% share. China, India, and other countries are major markets due to rapid industrialization and infrastructure growth. North America and Europe are other prominent regions driven by construction and transportation sectors.

Key players analysis: Key players operating in the aluminum extrusion market are Hindalco Industries, Jindal Aluminum Limited, China Zhongwang Holdings Limited, Constellium N.V., Hydro Extrusions, Arconic Inc., Gulf Extrusions Co. (LLC), TALCO Aluminium Company, Bahrain Aluminium Extrusion Co. (Balexco), Zahit Aluminium and Qatar Aluminium Extrusion Company, and others. The market is consolidated with top companies investing in capacity expansion and new product development.

Read More:

https://www.pressreleasebulletin.com/growth-of-the-aluminum-extrusion-market/

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