Forging Ahead: Aluminum-Extruded Products Market Analysis and Industry Trends for Sustainable Solutions

The aluminum-extruded products market size has grown strongly in recent years. It will grow from $43.89 billion in 2023 to $46.8 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to industrial revolution impact, aviation industry, architectural applications, automotive industry adoption, electrical industry utilization.

The aluminum-extruded products market size is expected to see strong growth in the next few years. It will grow to $60.05 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%. The growth in the forecast period can be attributed to recycling and circular economy, cost-effectiveness , energy efficiency standards , supply chain resilience , urbanization and construction projects. Major trends in the forecast period include sustainable solutions, architectural applications , advancements in technology, renewable energy sector.

Market Overview -
The aluminum-extruded products refer to products made of aluminum that has been extruded; they are lightweight but operate well in harsh environments. Extruded aluminum is created by heating aluminum and putting it through a die, which forms aluminum extruded products. For instance, tubes, doors, window frames, brackets, and railings can all be made from extruded aluminum products.

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Automotive Industry Expansion Fuels Growth In Aluminum Extruded Products Market
Growth and expansion of the automobile industry are expected to propel the growth of the aluminum-extruded products market. The automobile industry refers to the wide range of businesses and organizations engaged in the design and development of motor vehicles such as trucks, cars, farm machinery, and other vehicles. The automotive aluminum extruder is employed to build the radiator and bracket, oil pipe, instrument panel bracket frame, door anti-collision beam, energy absorption box, bumper anti-collision beam, and combination frame structure for the car's body. For instance, in 2021, according to the Society of Indian Automobile Manufacturers (SIAM), a not-for-profit apex national body representing all primary vehicles and vehicular engines, the automotive industry produced a total of approximately 23 million vehicles from April 2021 to March 2022, including passenger cars, commercial trucks, three-wheelers, two-wheelers, and quadricycles, compared to approximately 22.6 million units from April 2020 to March 2021. Therefore, the growth and expansion of the automobile industry are driving the growth of the aluminum extruded product market.

Competitive Landscape -
Major companies operating in the aluminum-extruded products market report are RUSAL, Aluminum Corporation of China Limited, Rio Tinto Group, Norsk Hydro ASA, Aluminium Bahrain B.S.C, Kaiser Aluminum Corporation, Sapa Inc., China Zhongwang Holdings Limited, Hindalco Industries Limited, Constellium SE, Talco Aluminium Company, Gulf Extrusions, China Hongqiao Group Limited, Alcoa Corporation, Bahrain Aluminium Extrusion Co., Century Extrusions Ltd., Bonnell Aluminium, Arconic Corporation, Qatar Aluminum Extrusion Company, Hydro Extrusion USA LLC, Western Extrusions Corp., Crystal Finishing Systems Inc., Universal Alloy Corp., Erbsloeh Aluminum Solutions Inc., Tower Extrusions Ltd., Alexandria Extrusion Co., Taber Extrusions LLC, Bristol Aluminum, Custom Aluminum Products Inc., Futura Industries Corporation

Technology Advancements In Aluminum-Extruded Products Market
Technological advancement in the aluminum industry is a key trend gaining popularity in the aluminum-extruded products market. Major players in the aluminum-extruded products sector are focusing on technological advancements, such as utilizing block chain to sustain their market position. For instance, in February 2021, Rio Tinto, a UK-based company engaged in metals and mining, launched the first block chain-technology-based sustainability label for aluminum, START. START assists clients in satisfying consumer demand for information about where and how products are manufactured. It enables consumers to distinguish between end products based on environmental, social, and governance credentials. It gives them the power to make informed decisions about the items they purchase and contribute to a sustainable future.

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Key Segments -

The aluminum-extruded products market covered in this report is segmented -

1) By Product Type: Mill Finished, Powder Coated, Anodized
2) By Alloy Type: 1000 Series Aluminum, 2000 Series Aluminum Alloy, 3000 Series Aluminum Alloy, 5000 Series Aluminum Alloy, 6000 Series Aluminum Alloy, 7000 Series Aluminum Alloy
3) By End Use Industry: Construction, Automotive, Electric and Electronics, Machinery and Equipment, Mass Transport , Other End Use Industry (energy, telecom, and consumer durables)

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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