Aluminum Extrusion Market Witness High Growth With Increasing Use Of Extruded Aluminum In The Construction Industry
Aluminum Extrusion Market
Aluminum extrusions are long, thin pieces of aluminum produced through a process called extrusion. Extruding allows the shaping of aluminum into various profiles and designs that can be anodized or painted. Aluminum extrusions offer advantages of corrosion resistance, high strength-to-weight ratio, and moderate costs compared to other metals. The increasing use of aluminum extrusions in the construction, automotive, and machinery industries is driving the growth of the aluminum extrusion market.
The global aluminum extrusion market is expected to be
valued at US$ 126.72 Mn in 2024 and is expected to exhibit a CAGR of 5.2% over the forecast period 2024 to 2030.
Market Drivers and Restraint
The key driver for the aluminum extrusion market is the increasing use of
extruded aluminum in the construction industry. Extruded aluminum is used
extensively in building facades, window frames, doors, and curtain walls owing
to qualities like corrosion resistance, durability, and recyclability. The
rapid growth of the construction sector in emerging economies is fueling the
demand for aluminum extrusions. However, volatility in raw material prices is a
major challenge faced by aluminum extrusion manufacturers. Aluminum is subject
to price fluctuations depending on production costs. Significant swings in
aluminum prices can adversely impact the margins of aluminum extrusion market
players.
Segment Analysis
construction segment dominated the global Aluminum
Extrusion Market Demand with a share of over 30% in 2019. This is
because aluminum extrusions are abundantly used in window frames, doors,
curtain walls, and architectural applications in the construction industry due
to benefits such as high strength-to-weight ratio, corrosion resistance, and
design flexibility. The transportation segment is expected to witness the
highest growth during the forecast period. This is due to increasing use of
aluminum extrusions in railways, marine, and automotive industries for making
vehicle bodies and parts owing to the light weight and recyclability properties
of aluminum.
Global Analysis
North America dominated the global aluminum extrusion market in 2019 with a
share of over 35%, followed by Asia Pacific and Europe. This is due to established
end-use industries such as building & construction and transportation in
countries like the US and Canada. The Asia Pacific region is expected to grow
at the fastest rate during the forecast period owing to rapid industrialization
and infrastructure development activities especially in China and India.
Countries like China, Japan, and South Korea are world's biggest producers and
consumers of aluminum extrusions for end-use sectors including machinery &
equipment, electrical, and consumer durables.
Key Takeaways
Key players operating in the aluminum extrusion market are Corbion, Minerals
Technologies Inc., Compass Minerals International Inc., Albion Laboratories,
Inc., Paul Lohmann GmbH KG, K+S Aktiengesellschaft, Gadot Biochemical
Industries Ltd., Arla Foods amba, DuPont, Jungbunzlauer Suisse AG, SEPPIC, and
Koninklijke DSM N.V. Key players are focusing on expanding their production
capacities and global footprint to leverage the growth opportunities arising
from increasing demand for aluminum extrusions. The global aluminum extrusion
market is anticipated to witness lucrative growth opportunities in end-use
industries such as construction, machinery, electrical, and automotive. Key
market players are investing in research & development and new product
launches to capitalize on the growing demand for aluminum extrusions across
different regions globally.
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