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Aluminum Extrusion Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Aluminum Extrusion Market
The Business Research Company offers in-depth market insights through Aluminum Extrusion Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The aluminum extrusion market size has grown steadily in recent years. It will grow from $89.37 billion in 2023 to $93.67 billion in 2024 at a compound annual growth rate (CAGR) of 4.8%. The growth in the historic period can be attributed to emerging markets growth, the growing demand for aluminum in the construction industry, and the increase in demand for lightweight and durable extruded products.
The aluminum extrusion market size is expected to see steady growth in the next few years. It will grow to $113.84 billion in 2028 at a compound annual growth rate (CAGR) of 5.0%. The growth in the forecast period can be attributed to government support, global population growth and urbanization, the increasing demand for automotive applications, and the growing demand for aluminum in packaging. Major trends in the forecast period include use of artificial intelligence, strategic partnerships and acquisitions, product innovation, and new plant expansions.
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Market Segmentation:
The aluminum extrusion market covered in this report is segmented -
1) By Product Type: Mill Finished, Anodized, Powder Coated
2) By Alloy Type: 1000 Series Aluminum Alloy, 2000 Series Aluminum Alloy, 3000 Series Aluminum Alloy, 4000 Series Aluminum Alloy, 5000 Series Aluminum Alloy, 6000 Series Aluminum Alloy, 7000 Series Aluminum Alloy
3) By End-Use: Building And Construction, Transportation, Machinery And Equipment, Consumer Durables, Electrical, Other End-Uses
Major Driver - Aluminium Extrusion Demand Surges With Rise In Green Building Construction
The increase in the construction of green buildings is one of the key factors driving the market growth. Green buildings are environmentally sustainable, energy-saving, and produce low carbon emissions. Aluminium has been a driving force behind the green construction movement because of its unrivaled characteristics. The characteristics of aluminium, such as strong and durable, recyclable, corrosion-resistant, light and malleable, making it apt for sustainable architecture. According to the U.S. Green Building Council (USGBC), India ranked third in Leadership in Energy and Environmental Design (LEED) in 2021 with a total of 146 LEED-certified buildings and spaces, which represents about 2.8 million gross area square meters (GSM) of space. This is an almost 10% increase in LEED-certified space in India from 2020. Thus an increase in the construction of green buildings will lead to the demand for aluminium extrusions.
Competitive Landscape:
Major companies operating in the aluminum extrusion market report are Norsk Hydro ASA, UACJ Corporation, Constellium N. V., Kaiser Aluminum, Hindalco Industries Ltd., Tredegar Corp. (Bonnell Aluminum, Co., Ltd.), Arconic Corporation, Jindal Aluminium Limited, Gulf Extrusion Co LLC, QALEX, M/s. Century Extrusions Ltd, MYCO INDUSTRIES (MIDC), San Internationl, GS Machining HK Co., Limited, Soil Metal Products Co.,Ltd, Liaoning Zhongwang Group Co, Donghe International Co., Ltd, Dragon LTD, ADD Associates Ltd, Branton Engineering Ltd, Merchant Supplier UK LTD, William Burton, Metals4u Limited, Alubin Limited, RIAK, BK-ALPROF, RUSAL, LLC, BRT Extrusions, Inc., Momentum Manufacturing Group (MMG), Richardson Metals, Inc, Western Extrusions Corp., PSI Industries, Inc., Hydro Extrusion, Prolind Industrial Ltda, Benetec, Xtral Tecnologia Em Aluminio, Asa Alumínio, Extrusora Argentina, Emirates Extrusion Factory LLC, Cephe Sistemleri, New African Engineering Services, Hulett Metals
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Top Trend - Integration Of Artificial Intelligence In Aluminium Extrusion Processes Enhances Efficiency And Quality Control
Companies in the aluminium extrusion market are focusing on using artificial intelligence (AI) to optimize the extrusion procedure, decreasing material waste and enhancing product quality. AI can also assist in identifying flaws in extruded components, hence minimizing the requirement for manual inspection and enhancing quality control. For example, in April 2023, ASCONA, a German company involved in developing optical profile measuring systems for the aluminium, plastics and rubber industry, and D-CUBE, a Greece-based technology company, announced the launch of a holistic solution for inline surface inspection of aluminium profiles. Promex CYRUS, based on artificial intelligence (AI), detects different types of surface defects in real time, regardless of the shape, number and size of the extruded profile strands and converts them into meaningful warning messages. A holistic cloud-based solution that stores the surface inspection data of each production line in one or more extrusion lines and offers multiple benefits for various departments including plant management, quality assurance, extrusion management, maintenance management, and technology management.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Aluminum Extrusion Market Characteristics
3. Aluminum Extrusion Market Trends And Strategies
4. Aluminum Extrusion Market - Macro Economic Scenario
5. Aluminum Extrusion Market Size And Growth
…..
27. Aluminum Extrusion Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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