Press release
Europe & CIS Aluminium-Extruded Products Market to Grow at 6.53% CAGR By 2026
According to TechSci Research report, “Europe & CIS Aluminium-Extruded Products Market By Product Type (Mill-Finished, Anodized and Powder-Coated), By End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others), By Alloy Type (1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series), By Product Shape (Composite Product Shapes, Rods & Bars and Pipes & Tubes), By Country, Forecast & Opportunities, 2016-2026” Europe & CIS Aluminium-Extruded Products Market stood at USD14649.24 million in 2020 and is projected to grow at a CAGR of 6.53% to reach USD21885.05 million by 2026. Aluminium Extruded products perform efficiently under extreme conditions like humidity, heat and therefore, find application in numerous end use industries such as electronics, automotive, mass transit, bridge decking, telecommunications, and solar/renewable energy industries among others.
Browse 92 market data Figures spread through 168 Pages and an in-depth TOC on " Europe & CIS Aluminium-Extruded Products Market”
https://www.techsciresearch.com/report/europe-and-cis-aluminium-extruded-products-market/7963.html
Based on End-Use Industry the market is segmented into Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others. Building & Construction is the leading End-Use Industry in the Aluminium-Extruded Products Market with a share of 49.72% in 2020. This is due to their wide applications in window frames, panels, domed roofs and other wide-span infrastructure. Also, countries like Germany, France, United Kingdom, Italy, Spain, Netherlands and Kazakhstan have invested in major construction projects such as high-speed rail construction project, rising funds in defence sector, ports and airport construction, construction for oil-field development which is expected to increase the demand for aluminium-extruded products in the Europe & CIS region.
Based on Alloy Type the market is segmented into (1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series). In 2020, 6000 series alloy segment dominated the market with a share of 35.99% and is expected to grow at a CAGR of 6.16% from 2021-2026. High resistance to corrosion, and versatility make it perfect for fabrication in ladders, pipelines & platforms, tubing in furniture products, etc. Usage in trucks, trailers, automotive, bus, rail components augmented the demand for 6000 series extruded aluminium products alloy in recent time. Moreover, excellent machinability and increased corrosion resistance make it a perfect material for valves, screw machine parts, marine fittings, marine hardware, oil & gas fitting, nuts, hinges and coupling components.
In the year 2020, to prevent the spread of COVID-19, the whole world was under the lockdown which impacted Europe & CIS Aluminium-Extruded Products Market. According to TechSci Research’s estimates, the market suffered a decline from previous year, and now it is at 6.31% in terms of value. This decline left a remarkable depreciation in the market, but the market is currently reviving and is set to overcome the descent in 2021-2022, owing to the shift in focus of all organizations towards aluminium-extruded products.
Based on country, Germany accounted for the largest share of 22.23% in the aluminium-extruded products market in 2020 owing to the well-established automobile and electrical & electronics industry in this country, which generates lucrative growth opportunities for the aluminium-extruded products market. Moreover, application of aluminium extruded products in aircrafts such as in fuselage, wing and supporting structure, is expected to propel the demand for aluminium-extruded products in the forecast period and the demand from marine industry for cargo ship and nuclear-power submarines are estimated to propel the demand for aluminium-extruded products in the coming years.
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Some of the major players operating in the Europe & CIS Aluminium-Extruded Products Market are United Company RUSAL, Rio Tinto Plc, Norsk Hydro ASA, Constellium SE, Impol, ETEM Group, BOAL Group, Aluminiumwerk Unna AG, Alusic SRL, Permtsvetmet, METRA SpA, among others. Companies operating in the market are using organic strategies such as product development through addition of new features, partnerships, mergers and collaborations to boost their share in Europe & CIS Aluminium-Extruded Products Market.
Extruded aluminium is used for busbars and electrical equipment as it is a good conductor of electricity with the added application in lighting. These factors contribute to the growth of the aluminium-extruded products market in Europe & CIS. Aluminium-extruded with fins makes an excellent radiator or heat exchanger which is easy to mount and color and does not weigh too much when mounted overhead and various automobiles manufacturers, are increasingly turning towards aluminium-extrusions to improve fuel economy, enhance performance and increase the load carrying capacity of their vehicles, which is expected to drive the Europe & CIS Aluminium-Extruded Products Market in the coming years”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe & CIS Aluminium-Extruded Products Market By Product Type (Mill-Finished, Anodized and Powder-Coated), By End-Use Industry (Building & Construction, Automotive & Transportation, Electrical & Electronics, Consumer Durables and Others), By Alloy Type (1000 Series, 2000 Series, 3000 Series, 5000 Series, 6000 Series and 7000 Series), By Product Shape (Composite Product Shapes, Rods & Bars and Pipes & Tubes), By Country, Forecast & Opportunities, 2016-2026” has evaluated the future growth potential of Europe & CIS Aluminium-Extruded Products Market and provides statistics information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Europe & CIS Aluminium-Extruded Products Market.
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About TechSci Research
TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime analysts and consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.
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